BSA AML Enhanced Due Diligence Analyst I

First Interstate BancSystem•Sioux Falls, SD

3d•Onsite

About The Position

Responsible for fulfilling the Anti-Money Laundering (AML)/Bank Secrecy Act (BSA) requirements through enhanced evaluation, identification, and research of relationships and transactions of both new and existing accounts.Responsibilities include performing initial customer due diligence (CDD) reviews, initial and/or periodic enhanced due diligence (EDD) reviews of the bank's customers/clients that are deemed higher risk for money laundering and/or terrorist financing and analyzing alerts to help identify higher risks. Partner with other financial crimes compliance departments and business lines to complete due diligence review and report details as needed to appropriate areas.

Requirements

Works well in a team environment.
Works independently, is resourceful and can resolve unforeseen problems.
Detail oriented and well organized.
Able to maintain focus and accuracy.
Prioritizes work, maintains a good work ethic, and requires minimal supervision.
Possesses excellent verbal and written communication skills.
Must have the ability to read and interpret documents such as operating and maintenance instructions, and procedure manuals.
Requires skills needed to prepare clear, concise, and succinct reports and correspondence that summarize and support his/her research.
Must be able to add and subtract two-digit numbers and to multiply and divide with 10’s and 100’s, and complete these operations using units of American money and weight measurements, volume, and distance.
Must have the ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.
Ability to interpret a variety of instructions furnished in written, oral, diagram or schedule form.
A successful applicant will have experience and/or a desire to use their analytical, interpretative thinking and evaluative judgment while researching transactions in sophisticated anti-money laundering software.
High School Diploma or General Education Degree (GED) required
1-3 years BSA/AML, financial fraud, or banking experience required

Nice To Haves

Knowledge of the BSA and FinCEN related laws and regulations preferred

Responsibilities

Conducts and completes EDD reviews for Higher Risk Clients in a timely manner consistent with FIB’s policies and procedures.
Collects and obtains documentation on High-Risk Clients from applicable departments including but not limited to: Retail, Commercial Lending, Treasury Management, Operations, Wealth Management.
Performs transaction analysis of customer activity in the Bank’s AML system for possible violations of law or suspicious activity.
Performs custom behavior reviews.
Reports and escalates all unusual, suspicious, or fraudulent activity or negative findings clearly and objectively to management.
Reviews new business accounts to ensure CDD/EDD questionnaires are obtained.
Properly reviews, assesses, and triages alerts based on associated risks.
Maintains and retains thorough documentation of analysis performed.
Works cooperatively with internal departments to obtain and evaluate necessary information related to the analysis.