BSA/AML Analyst The BSA/AML Analyst is responsible for administering and maintaining the Bank’s Bank Secrecy Act/Anti-Money Laundering and Office of Foreign Assets Control (BSA/AML/OFAC) compliance processes. This position performs day-to-day monitoring, investigations, regulatory reporting, recordkeeping, and documentation to support compliance with applicable laws, regulations, and Bank policies. The Analyst works closely with the BSA Officer to identify and escalate potential suspicious activity, compliance concerns, emerging risks, and required corrective actions. The position also supports BSA/AML/OFAC training, risk assessments, audits, and examinations to maintain the effectiveness of the Bank’s compliance program. Qualities of a successful candidate include: - Bachelor's degree in business, finance, accounting, criminal justice, or a related field preferred. Relevant financial institution compliance experience may be considered in place of a degree.
- Three or more years of BSA/AML/OFAC compliance experience in a financial institution, including experience with investigations, regulatory reporting, risk assessments, policies, procedures, or program administration.
- Professional certification such as Certified Anti-Money Laundering Specialist (CAMS), Certified AML and Fraud Professional (CAFP), Certified Regulatory Compliance Manager (CRCM), or a comparable credential is preferred.
- Working knowledge of the Bank Secrecy Act, USA PATRIOT Act, FinCEN regulations and guidance, OFAC requirements, suspicious activity monitoring, customer due diligence, and related recordkeeping and reporting obligations.
- Strong analytical, investigative, research, documentation, and problem-solving skills, with the ability to evaluate complex activity and make well-supported decisions.
- Ability to communicate clearly and professionally with the Board of Directors, management, employees, auditors, examiners, customers, and external parties, as appropriate.
- Ability to manage multiple priorities and regulatory deadlines while maintaining accuracy, confidentiality, independence, and sound judgment.
- Proficiency with Microsoft Word and Excel and the ability to learn and effectively use the Bank's core, monitoring, screening, case-management, and reporting systems.
- Experience with FCRM or comparable financial-crime monitoring software is preferred.
- Experience with trust, fintech, digital asset, or other higher-risk products and services is beneficial when applicable to the Bank's activities.
Responsibilities of this position include (but not limited to): - Administer and maintain day-to-day BSA/AML/OFAC compliance processes, including monitoring, documentation, reporting, and internal controls, in accordance with Bank policies and established procedures.
- Monitor changes in applicable laws, regulations, regulatory guidance, and industry practices; identify potential impacts to the Bank and communicate recommended updates to the BSA Officer.
- Assist with the preparation, maintenance, and documentation of the Bank’s BSA/AML/OFAC risk assessment at least annually and when material changes occur, considering the Bank’s products, services, customers, delivery channels, and geographic exposure.
- Perform customer identification, customer due diligence, beneficial ownership, enhanced due diligence, and ongoing monitoring activities for higher-risk customers and transactions in accordance with established procedures.
- Review, research, document, and escalate unusual or potentially suspicious activity, ensuring appropriate follow-up and resolution in accordance with Bank procedures.
- Prepare and process Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs), including supporting documentation, filing deadlines, continuing-activity reviews, and required follow-up, in accordance with established review and approval procedures.
- Administer applicable FinCEN information-sharing requirements, including Section 314(a) requests, and maintain required documentation and confidentiality.
- Perform OFAC screening and research potential matches; document findings and escalate potential sanctions-related activity for appropriate review and disposition in accordance with Bank procedures.
- Review monetary instrument activity, transaction monitoring alerts, exception reports, and other relevant reports to identify unusual activity, trends, and items requiring additional investigation or escalation.
- Assist with the development and delivery of role-appropriate BSA/AML/OFAC training for the Board of Directors, management, and employees; maintain training materials and completion records.
- Assist with internal and external audits and regulatory examinations by gathering documentation, responding to information requests, tracking findings, and completing assigned corrective actions under the direction of the BSA Officer.
- Prepare BSA/AML/OFAC reports, summaries, and supporting documentation for review by the BSA Officer and inclusion in management or Board reporting, as applicable.
- Coordinate with business units and support functions to facilitate completion of BSA/AML/OFAC requirements, resolve outstanding items, and promote consistent adherence to Bank policies and procedures.
- Maintain complete, accurate, secure, and confidential BSA/AML/OFAC records in accordance with applicable legal, regulatory, and Bank retention requirements.
- Exercise sound judgment in reviewing transactions, customer activity, and potential compliance concerns; promptly escalate material issues, significant findings, and unresolved items to the BSA Officer.
- Performs other duties and responsibilities as assigned and as necessary to support the Bank’s BSA/AML/OFAC compliance program and overall business needs.
- Upholds and models the Bank’s core values in daily work, decision-making, and interactions, contributing to a positive, compliant, and service-oriented workplace.
We offer a competitive benefits package that includes Medical, Dental and Vision; FSA or Dependent Care; Supplemental Accident, Hospital, or Critical Illness Plans; Employer paid Life Insurance, Short Term Disability, and Long-Term Disability; and Additional Voluntary Life Insurance Options. Paid Vacation, Sick and Volunteer leave; 401K and Profit Sharing. Compensation for positions is based on the specific position and may be paid in the form of an hourly wage, overtime, a semi-monthly salary, commissions, or a combination of them. Depending on the specific position, some may be paid solely on commissions or others may include a bonus structure. As part of our employee benefits package, we offer exclusive perks such as discounted rates on banking and mortgage services, fee waivers, and access to special financial products. These benefits are designed to support your financial well-being as a valued member of our team. Plains Commerce Bank is an Affirmative Action/Equal Opportunity Employer committed to providing equal employment opportunity without regard to an individual’s race, religion, color, gender, national origin, ancestry, age, sexual orientation, disability, or veteran status.
|