The NY branch of a foreign bank is seeking SAR Analysts. The SAR Analyst is primarily responsible for ensuring the timely preparation of Suspicious
Activity Reports, for both initial and continual SAR filings, by monitoring customer activity to verify compliance with internal and external regulatory requirements. The SAR Analyst will:
Review and investigate surveillance items flagged as potentially suspicious transactions relating to BSA/AML and/or OFAC and sanctions, including conducting negative news searches, dispatching Requests for Information (RFIs) etc.
Prepare Suspicious Activity Reports (SARs) for confirmed suspicious activity, in a timely manner/in accordance with external and internal timelines, and update internal records accordingly
Conduct retroactive transaction reviews, related to previously filed SARs, to ensure that continual (90-day) suspicious activity is filed, consistent with regulatory requirements
Track relevant regulatory reporting timelines and submit periodic reports to BSA/AML Manager regarding the status of SAR reporting
Maintain the SAR log maintenance
Ideal candidate should have:
Bachelor's degree required
5+ years of experience in financial services in BSA/AML
2+ years of experience in resolution of surveillance items flagged as potentially suspicious transactions and items identified as potential matches to adverse media alerts, designated sanctions targets and prohibited persons lists
CAMS certification preferred
Familiarity with U.S. BSA/AML laws and regulations and OFAC/Sanctions regulations
Familiarity with Corporate Banking and Financial Institutions business and relevant products/services (e.g. Letters of Credit, Trade Finance, Clearing)
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