BSA/AML Compliance Analyst - EDD

Burke & Herbert Bank • Moorefield, WV

85d • Remote

About The Position

Responsible for supporting the Bank's compliance with BSA/AML regulations and by identifying, assessing, and mitigating financial crimes risks for high-risk customers and transactions. This includes in-depth investigations and analysis of high-risk customers, entities, and transactions to ensure compliance with BSA, AML, and OFAC regulations. The analyst will conduct daily reviews of high-risk customers and will, as needed, conduct ad-hoc reviews from various lines of business. The analyst will also review daily CDD/EDD alerts to identify high risk customers and potential suspicious activity. The role involves staying informed on regulatory changes and utilizing the Bank's AML systems to monitor and manage risk. The decisions and recommendations made by the Analyst shall be relied upon by the management team and may have a direct impact on the business operations and the servicing of customer accounts, which may also carry legal and regulatory compliance obligations. Often these reviews may lead to the development of metrics, trend information, and written analysis which will be used to substantiate any risk-related recommendations, which may include changes to the BSA Program. This role also involves a level of discretion and independent judgment in the assessment and presentation of various decision options to management as well as conducting major assignments in the effective operational implementation of the Bank's BSA Program.

Requirements

• Minimum 1 year of BSA/AML or banking experience required.
• 3 years of experience in banking, financial services, government, or related entity preferred (e.g., FinCEN, OFAC).
• Bachelor's degree or equivalent preferred.
• CAMS, CFE, CAFP or CRCM certification preferred.
• Demonstrated expertise in conducting EDD reviews and managing high risk customer relationships.

Nice To Haves

• Experience with Jack Henry banking software systems, including Verafin, Silverlake, and Vertex preferred.

Responsibilities

• Conducting in-depth research on individuals and entities using public records, open-source media, internal databases, and proprietary systems on a periodic and ongoing basis.
• Assessing geographic risks, politically exposed person (PEP) affiliations, and other potential vulnerabilities.
• Creating and maintaining an in-depth record of the investigation performed on individuals or entities.
• Investigating and escalating confirmed or suspected violations as required by procedure.
• Escalating suspicious activity and risks to management as appropriate.
• Investigate EDD cases and EDD alerts generated by the AML monitoring system and other sources to determine potential suspicious activity.
• Documenting findings, escalating potential suspicious activity, and ensuring all required reporting is accurate and timely.
• Collaborating with internal teams to resolve issues related to suspicious activity and customer risk profiles.
• Function as a support to the BSA/AML Compliance Manager to assist with daily monitoring, assessment, and maintenance of AML processes and procedures.
• Assist the BSA/AML Compliance Manager in project management and documentation processes for AML systems and procedures, including developing and maintaining detailed implementation plans; compiling and presenting metrics on alert completion rates; and ensuring that project deadlines are met, as needed.
• Liaise with Bank lines of business, including branches and other teams as needed.
• Support other duties and responsibilities within the BSA Operations Unit's area of responsibility, as required by the BSA Operations Manager or BSA Officer.
• Stay informed of related regulatory matters through Federal agency updates and guidance and through industry webinars and conferences.
• Complies with all policies and procedures as applied to the Bank's BSA/AML policy.
• Perform other duties as assigned.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Securities, Commodity Contracts, and Other Financial Investments and Related Activities
• Education Level: Bachelor's degree
• Number of Employees: 251-500 employees