BSA/AML Compliance Analyst

Burke & Herbert Bank•Alexandria, VA

48d•Onsite

About The Position

The BSA/AML Compliance Analyst will be responsible for performing quality assurance reviews, including coverage of Anti-Money Laundering (AML), Fraud, Enhance Due Diligence (EDD), U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), and Currency Transaction Report (CTR) processes. 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 case reviews may also lead to development of metrics, trend information, and written analysis which the Analyst will perform 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 carrying out major assignments in the effective operational implementation of the Bank's BSA Program.

Requirements

Strong knowledge of BSA/AML/OFAC requirements.
Detail-oriented with experience conducting thorough investigations.
Effective oral and written communication skills.
Ability to interact with personnel at all levels in the organization.
Able to work independently and manage time effectively to meet deadlines.
Bachelor's degree in a related discipline, or equivalent additional related experience, required.
Minimum 3 years business and/or functional experience in the areas of AML and Fraud, with a financial service provider and/or related government entity (e.g., FinCEN or OFAC) required.
Working knowledge of Verafin, Jack Henry suit of products, Microsoft Office applications.

Nice To Haves

CFE, CAMS or other industry certification is preferred.

Responsibilities

Review AML alert/case alerts generated by the Bank's transaction monitoring system, cases created from alerts, suspicious activity referrals, subpoena, 90-day reviews, SAR filings etc. to ensure processes consistently meet regulatory requirements and internal procedures.
Evaluate the effectiveness of EDD reviews to ensure the appropriate customer risk attributes were addressed in the overall customer review form.
Review the OFAC monitoring process as well as the daily CTR, CTR aggregation and filing processes for completeness, accuracy and timeliness.
Draft and provide QA results monthly to the BSA Operations Manager and recommendations for processes, controls, and/or procedural enhancements.
Tracks and validates the implementation of remedial actions submitted by the BSA Operations and Fraud staff to verify that the QA findings are remediated.
Provide feedback and perform training to the BSA Operations staff to address identified gaps in AML/EDD/OFAC/CTR/Fraud procedures and/or processes.
Develops, maintains and updates key metrics for the BSA Operations Manager and Senior Management.
Maintain accurate and up-to-date records of QA results for further review by Internal Audit, Examiners, BSA Operations Manager, and Senior Management.
Maintain current knowledge of banking laws and regulations, as well as fraud trends.
Complies with all policies and procedures as applied to the Bank's BSA/AML/OFAC Program.
Perform other duties as assigned.