Bank Secrecy Act Analyst I, South Bend, IN

1st Source•South Bend, IN

About The Position

POSITION SUMMARY Responsible for analyzing reports and conducting investigations to ensure that customer account activity is not in violation of the Bank Secrecy Act (BSA) or the Office of Foreign Assets Control (OFAC) regulations. ESSENTIAL REQUIREMENTS Works as a team member of the BSA AML Compliance Department to ensure that 1st Source Bank maintains compliance with the BSA and OFAC regulations. Conducts investigations into customer account activity that has been identified as suspect so that a determination may be made as to any reporting that may be required under the BSA. Files Suspicious Activity Reports on activity identified and deemed suspicious with FinCEN. Analyzes reports to ensure that the bank files Currency Transaction Reports or any other reports as may be required by the BSA or OFAC regulations. Conducts appropriate reviews as prescribed by the BSA of any accounts that the bank may elect to exempt from the BSA reporting requirement. Processes possible OFAC matches and escalates at appropriate. Processes Financial Crimes Enforcement Network (FinCEN) 314(a) list and reports back to FinCEN any accounts for those on the 314(a) list. Regular and predictable attendance is an essential requirement of the position. Responsible for the completion of all compliance training related to the position. Must understand all applicable laws and regulations that apply to the position and comply with the requirements. NON-ESSENTIAL FUNCTIONS Performs all other duties as assigned.

Requirements

Two or more (2) years’ experience in banking, finance, auditing, compliance and/or legal experience preferred.
Basic knowledge of the requirements of the Bank Secrecy Act and OFAC regulations preferred.
Manages time well and works independently by completing work within the prescribed service level agreements without direct managerial oversight.
Good analytical abilities and independent thinking skills
Internet research skills.
Good PC skills--proficiency in Microsoft Word and Excel essential.
Good organization and administrative skills.
Ability to handle multiple tasks in a fast-paced environment.
Good communication skills (both written and verbal).
Friendly courteous disposition with the ability to work in a team player in an environment.
Maintains confidentiality of work files.
Good customer service skills (internal and external).
Regular and predictable attendance is an essential requirement of the position.

Nice To Haves

Knowledge of bank core processing systems, record retention and record retrieval systems preferred.
Understanding of branch banking transactions and new account opening processed preferred.

Responsibilities

Works as a team member of the BSA AML Compliance Department to ensure that 1st Source Bank maintains compliance with the BSA and OFAC regulations.
Conducts investigations into customer account activity that has been identified as suspect so that a determination may be made as to any reporting that may be required under the BSA.
Files Suspicious Activity Reports on activity identified and deemed suspicious with FinCEN.
Analyzes reports to ensure that the bank files Currency Transaction Reports or any other reports as may be required by the BSA or OFAC regulations.
Conducts appropriate reviews as prescribed by the BSA of any accounts that the bank may elect to exempt from the BSA reporting requirement.
Processes possible OFAC matches and escalates at appropriate.
Processes Financial Crimes Enforcement Network (FinCEN) 314(a) list and reports back to FinCEN any accounts for those on the 314(a) list.
Responsible for the completion of all compliance training related to the position.
Must understand all applicable laws and regulations that apply to the position and comply with the requirements.
Performs all other duties as assigned.