BSA Analyst
The BSA Analyst assists in the implementation and administration of all aspects of the Bank Secrecy Act (BSA) program and assists with various assignments supporting the BSA Program of the bank, under the guidance of the BSA Manager.
This position performs various reviews and monitoring pertaining to the Bank Secrecy Act, USA PATRIOT Act, Anti-Money Laundering Program, OFAC, Customer Identification Program (CIP), Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) Program using industry standard and regulatory guidance to ensure the Bank's compliance efforts are maintained on a daily basis.
Advises the BSA Manager or other senior BSA staff of emerging BSA related issues and assists the Bank in the establishment of controls to mitigate risks. Assists the BSA Manager and senior BSA staff in ensuring department activities run smoothly and efficiently. The position of BSA Analyst is required to be fully knowledgeable and skilled in all areas of the BSA department.
This position conducts customer and account level research on a wide variety of data in an effort to identify suspicious and/or illegal activity and report findings and/or make recommendations to BSA Manager or other senior BSA staff based on that research. This position maintains files, records, and documentation as it relates to the customer review function.
Primary Duties:
• Stay current with changes regarding BSA/AML, OFAC, USA PATRIOT Act, and CIP; determine the effect of such laws and regulations on Bank policies, procedures, and recommends and implements changes.
• Follow policies, processes, and procedures to ensure the Bank complies with all aspects of the Bank Secrecy and Anti-Money Laundering Acts.
• Develop a strong understanding of the Bank's BSA/AML/Fraud detection software. Recommend software enhancements.
• Daily responsibilities include reviewing BSA/AML/Fraud detection software processing reports, alerts, case management, working with multiple software systems, direct contact with employees from various departments, and performing research and analysis on customers and accounts.
• Assists in the monitoring of account activity for suspicious patterns and activity, conducts suspicious activity report investigations and filing of SARs when necessary, high risk customer/account reviews. These reviews will be primarily based on system generated OFAC monitoring alerts, 314(a) alerts, cash transaction alerts, BSA/AML alerts, and other available monitoring reports.
• Assist as needed in the Customer Due Diligence program, CTR exemption review process, and the oversight of high-risk customer relationships, including monitoring, documentation, customer risk rating, and enhanced due diligence.
• Ensure compliance with the Office of Foreign Asset Control (OFAC), 314(a), and 314(b) laws and regulations.
• Know by name and face as many customers and employees as possible, calling them by name as often as possible.
• Know and practice LOCBUTN, our Golden Rules, and Bell Bank Customer Service Standards.
• Know, understand, and live the company values and bottom line.
• Conduct activities consistent with established Bell Bank policies, procedures and systems, the Bell Bank Employee Conduct policies, the Bank Secrecy Act and all applicable State and Federal laws and regulations.
• All employees are responsible for information security including compliance with policies and standards which protect sensitive information.
• Prompt and reliable attendance.
• Perform other duties as assigned.
Job Skills Required:
• B. A. in finance, or business-related field. Alternatively, BSA training or BSA-related job experience preferred.
• Strong organizational skills and time management skills with the ability to manage multiple responsibilities and tasks simultaneously.
• Strong verbal and written communication skills.
• Strong analytical skills. Ability to research, analyze, and determine a course of action for financial transaction reviews.
• Knowledge and understanding of regulatory compliance requirements surrounding USA PATRIOT Act, Anti-Money Laundering (AML) requirements and Bank Secrecy Act (BSA).
• Detail oriented and able to complete and prioritize tasks with minimal supervision.
• Ability to take initiative and work independently and as a member of a team.
• Must maintain a high level of confidentiality at all times.
• Knowledge of Bank Secrecy Act requirements.
• Ability to analyze account activity to detect suspect transactions.
• BSA/AML Certification preferred.
