AML/CFT Sr. Operations Analyst
About The Position
As a federally regulated financial institution, Beacon Bank & Trust (the “Company”) plays an important role in the battle to protect the United States financial system from abuse by criminals. The Company’s Financial Intelligence Unit (“FIU”) is committed to supporting law enforcement efforts to combat serious financial crimes including money laundering and terrorist financing. Within the FIU AML/CFT Team, the incumbent is primarily responsible for performing and managing the daily operational functions in support of the FIU’s AML Team including, but not limited to, Currency Transaction Reporting (“CTR”), law enforcement requests, economic sanctions, information management, and any additional necessary duties supporting the Company’s anti-money laundering programs and compliance with the Bank Secrecy Act (“BSA”) and economic sanctions administered by the Office of Foreign Assets Control (“OFAC”).
Requirements
- Associates degree or equivalent experience
- Minimum 3 years’ experience in a BSA/AML or sanctions role within a financial institution or similar role
- Substantial practical knowledge of BSA/AML and OFAC regulations and requirements including Currency Transaction Reporting (“CTRs”) and recordkeeping
- Strong knowledge of Office of Foreign Assets Control (“OFAC”) economic sanctions programs and regulations
- Substantial understanding of products, services and transaction processing channels within a financial institution
- Strong analytic, research and investigative skills necessary
- Excellent prioritizing, time management and multi-tasking skills a must
- Exceptional quality and integrity of work produced within tight deadlines
- Ability to function both independently and within collaborative team environments
- Solid computer skills including the use of Microsoft Office products
- Excellent written and verbal communications skills
Nice To Haves
- Certified Anti-Money Laundering Specialist (“CAMS”), Certified Global Sanctions Specialist (“CGSS”) or equivalent advanced certification preferred
Responsibilities
- Reviews, edits and files within regulatory mandated time frames complete and accurate CTRs
- Identifies and recommends customer eligibility for CTR exemptions
- Assists with the annual review of exempt customers
- Reviews and validates BSA/AML system records ensuring compliance with regulatory reporting and recordkeeping requirements
- Reconciles and resolves monitoring system discrepancies ensuring data integrity
- Updates and maintains the integrity of essential monitoring system data including but not limited to customer profile information, anticipated and expected customer activities, and other applicable risk factors
- Reviews and resolves system generated alerts relating to transactions, customers, counterparties and other activities resulting from OFAC economic sanctions regulations and Section 311 of the USAPATRIOT Act
- Prepares and maintains notes, findings and documentation in accordance with FIU standards to sufficiently support research conclusions
- Analyzes and researches monitoring system alerts and department referrals for customer behaviors and transactions patterns indicative of money laundering, terrorist financing and other serious financial crimes as needed
- Prepares, as required, case summaries and reports for escalation to the Bank’s SAR Committee
- Consistently produces and maintains high quality work within mandated deadlines in accordance with FIU and regulatory standards
- Provides support and guidance to business line partners and FIU AML/CFT team members on complex and nuanced BSA and other applicable financial crimes matters
- Assists with cross-functional AML/CFT and sanctions operations activities as needed
- Collaborates with FIU AML/CFT Managers, Deputy AML/CFT Officer, and the AML/CFT Officer on projects to further the FIU’s strategic objectives and comply with applicable regulations
- Escalates issues and situations requiring the attention of AML/CFT managers, Deputy AML/CFT Officer, and the AML/CFT Officer
- Performs ancillary duties as required at the direction of FIU AML managers, Deputy AML/CFT Officer and the AML/CFT Officer
- Adapts to and incorporates FIU AML/CFT manager, Deputy AML/CFT Officer and AML/CFT Officer feedback to improve productivity and quality
- Maintains and integrates knowledge of BSA and OFAC regulations, emerging financial crimes trends in the performance of daily tasks and functions
- At all times, preserves the integrity of the Company’s anti-money laundering and economic sanctions policies, procedures, systems and controls
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
Associate degree
