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BSA Risk Analyst

Phaxis LLC

Newark, DE

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JOB DETAILS
SALARY
$43.17 Per Hour
SKILLS
Analysis Skills, Bank Management, Best Practices, Business Development, Business Processes, Customer Relations, Customer Support/Service, Establish Priorities, Industry Standards, Internal Audit, Investigative Reports, Know Your Customer (KYC), Maintain Compliance, Management Consulting, Operational Support, Operations Management, Policy Development, Problem Solving Skills, Procedure Development, Program Control, Regulations, Regulatory Compliance, Regulatory Reports, Regulatory Requirements, Risk, Risk Analysis, Risk Management, Test Program, Testing, USA PATRIOT Act
LOCATION
Newark, DE
POSTED
30+ days ago
Pay Rate up to $43.00

Duties:
  • Under the direction of the BSA Risk Manager, responsible for the periodic BSA internal controls testing function of the of the Bank's BSA risk assessment program.
  • Responsible for monitoring, analyzing, and escalating issues and concerns related to BSA, AML, OFAC and the USA PATRIOT Act components of the Bank's BSA Program while utilizing sound and current compliance industry standards and practices.
  • May assist in the development of new and/or updates policy and procedures related to BSA, AML, OFAC and the USA PATRIOT Act Bank wide.
  • Plays a key role as a liaison with colleagues throughout the organization related to BSA, AML, OFAC and the USA PATRIOT Act.
  • Responsible for building and maintaining relationships with internal and external customers while providing exemplary customer service.

Responsibilities/Skills:
  • Carries out compliance monitoring, internal controls risk assessments, and internal controls testing program ensuring that there are adequate processes, procedures and internal controls to promote an effective BSA control environment, under the guidance of the BSA Risk Manager.
  • Prioritizes focus toward areas identified as having the highest levels of risk to the company.
  • Works directly with business units and support management as a consultant in the development of business unit's risk self-assessment programs.
  • Performs scheduled and periodic testing of overall business processes and controls related to the implementation and management of the bank's products and services, including geographic considerations to identify compliance gaps and potential risk exposure.
  • Analyzes and evaluates compliance risks and recommends changes to policies, procedures, and processes to reasonably ensure risk-based and appropriate controls are instigated and maintained.
  • Assists in the development of new and/or updates policy and procedures related to BSA, AML, OFAC and the USA PATRIOT Act Bank wide. Also, partners with business units for the development of departmental policy and procedures.
  • Partners with business units to remediate BSA, AML, OFAC and the USA PATRIOT Act compliance findings identified in risk assessments, internal audits and/or regulatory examinations.
  • Performs daily activities of assigned functional area; prioritizing; completing multiple activities; resolves problems as they arise.
  • Ensures activities are in compliance with legal/regulatory requirements and Client policy and procedure.
  • Communicates and escalates (as assigned) identified BSA, AML, OFAC and USA PATRIOT Act operational concerns to the appropriate level of management.
  • Maintains an up-to-date Master Compliance Audit Follow-up Log for outstanding BSA-related Audit and OCC
  • Examination issues, and the BSA Risk Assessments Open Issues Log.
  • Integrates activities with other departments to accomplish common goals.
  • Maintains up-to-date knowledge of Bank policies, procedures and industry best practices.
  • Participates in and completes bank-wide projects.
  • Serves as resource (as needed) to internal and external customers; ensures quality customer service and effective and efficient operational support.
  • Applies both technical and general business knowledge to resolve the most complex issues in assigned function.
  • Performs other duties as assigned or requested.
  • Minimum 3 years of experience with BSA regulations concerning KYC, EDD, Financial crime investigations and regulatory reporting.
  • Minimum 3 years experience in a BSA specific role at a financial institution.

About the Company

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Phaxis LLC

We stand for PERSEVERANCE, as we refuse to quit when the journey gets tough. Your gold is our mission, and we search day and night to find it.
COMPANY SIZE
50 to 99 employees
INDUSTRY
Staffing/Employment Agencies
FOUNDED
2002
WEBSITE
https://phaxis.com/

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