BSA/AML OFAC Analyst

WaFd Bank•Boise, ID

8d•$24 - $31•Onsite

About The Position

The OFAC Analyst is responsible for performing OFAC related screening and other BSA/AML related analysis and investigations. The OFAC Analyst will review and analyze transactions from multiple payment channels involving possible OFAC hits and those involving countries of concern to determine whether there is a true match or whether it represents any form of AML/CFT, or other risk. The OFAC Analyst will provide support and assistance to the BSA Officer on BSA/AML/OFAC compliance issues, aid in the Bank's compliance with Anti-Money Laundering laws and regulations, USA PATRIOT Act, and OFAC; and continuously work to understand and mitigate risks. Along with the key functions listed below, this position will be expected to uphold the value that WaFd Bank places on simply being kind when working alongside colleagues and servicing our clients.

Requirements

Bachelor of Science or Bachelor of Arts degree
One (1) to three (3) years of related experience -- OFAC, AML, transaction monitoring, alert clearing, escalation investigations, bank operations and SAR drafting. May also have relevant experience in areas such as risk, operations, and audit
Knowledge of common money laundering methods and trends
Knowledge of the laws applicable to money laundering, including the Bank Secrecy Act, the USA PATRIOT act, US Treasury AML guidelines, OFAC requirements, and Suspicious Activity Reporting requirements
Research skills including experience with online search tools
Knowledge of transaction monitoring systems and applicable rules
Effective writing, analytical, and communications skills
Strong attention to detail

Nice To Haves

Relevant industry qualifications in AML (e.g., ACAMS) preferred

Responsibilities

Investigate any potential OFAC hits in accordance with Bank procedures and escalate issues to management as warranted.
Review, process, and track the bi-weekly 314(a) batch requests received from FinCEN.
Review and analyze transactions from multiple payment channels relating to potential OFAC hits and countries of concern.
Perform sanctions screening for customers and incoming and outbound payments.
Investigate sanctions issues and provide recommendations as necessary.
Remain up-to-date on BSA/USA PATRIOT Act/OFAC compliance matters as they relate to bank operations.
Conduct research over available Bank systems, the Internet and Commercial Databases consistent with the resolution of screening and investigations.
Document and report analysis/investigation findings and prepare case files with required supporting documentation (e.g. media search results, copies of statements/checks, results from internal system searches etc.)
Adherence to bank policies and procedures designed to comply with Federal regulations, including but not limited to the Bank Secrecy Act, USA Patriot Act and OFAC regulations.
Other duties as assigned.