OFAC Analyst

Gulf Coast Bank & Trust•Metairie, LA

1d•Onsite

About The Position

The AML/CFT Analyst is charged with the responsibility of assisting the BSA/AML Department with the daily monitoring of account activity, detection, and documentation of suspicious activity in customers’ accounts and the subsequent filing of suspicious activity reports as required under the BSA, AML, OFAC regulations and the Bank’s BSA/AML Compliance Program and Procedures.

Requirements

High School diploma required
Previous banking experience, with one year of BSA/AML Compliance.
Strong analytical & critical-thinking skills.
Ability to effectively communicate, both verbally and written.
Efficient and effective time management skills.
Ability to work independently and collaboratively in a fast-paced environment.
Strong computer skills required.
Attention to detail.
Ability to meet deadlines.
Ability to travel if required to perform the essential job functions.
Ability to work under stress and meet deadlines.
Ability to read and interpret a document if required to perform the essential job functions
Prolonged periods of sitting at a desk and working on a computer may be required.
Ability to lift/move/carry approximately 15 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division any “undue hardship” then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.

Nice To Haves

bachelor’s degree, preferred.

Responsibilities

Responsible for identifying potentially unusual activity and customer account behavior identified by transaction analysis, ongoing monitoring, and negative media searches, and through the disposition of alerts generated by the Bank’s transaction monitoring system.
Provide recommendations for the filing of suspicious activity reports (SARs) as needed and ensure complete documentation is secured and maintained as required by law.
Assist with high-risk customers as needed.
Work with front line staff to obtain information that would be helpful during the alert assessment and analysis.
Assist coworkers/frontline staff with customer identification, customer due diligence, beneficial ownership, and OFAC requirements.
Review PEP and Sanction alerts for potential matches and conduct research as required.
Stay current with money laundering and terrorist financing behaviors, trends, patterns and typologies.
Stay current with rules, laws and regulations (BSA / AML / OFAC).
Recommend account closures as warranted under the account closing procedures set forth in the Bank’s BSA/AML Compliance Program and Procedures as directed by the BSA/AML Officer.
Provide other assistance as requested by the BSA/AML Officer in the daily responsibilities of managing the Bank's BSA/AML Compliance Program.
Perform additional responsibilities as assigned, based on management’s discretion and evolving business needs.