BSA/AML Specialist

Taylor Bank

18d

About The Position

At Taylor Bank, our relationship banking philosophy guides everything we do. We strive to meet the needs of our customers and communities with great service and superior banking products. WE ARE SEEKING: A Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Specialist to identify, analyze and report suspicious activity to prevent and detect money laundering, terrorist financing and financial fraud in accordance with the Bank Secrecy Act, USA PATRIOT Act and related regulations. A key component of this role is the effective utilization and optimization of the bank’s automated transaction monitoring and fraud detection systems.

Requirements

• High School diploma or equivalent required; Associate’s or Bachelor’s degree from accredited college/university preferred.
• At least two years of related banking experience; or equivalent combination of education and experience.
• Familiarity with CTR and SAR filing processes.
• Knowledge of BSA, AML, OFAC, and related regulatory requirements.
• Excellent analytical and investigative skills with strong attention to detail.
• Must be proficient in the Microsoft Office Suite, particularly Excel.
• Ability to handle confidential information with discretion.
• Ability to communicate and articulate complex information simply. Excellent writing skills.
• Strong organizational skills and ability to manage multiple priorities.

Responsibilities

• Performing daily reviews and investigation of system-generated alerts from the automated transaction monitoring and fraud detection platform, to include analyzing patterns related to large cash transactions, wire transfers, and monetary instrument purchases.
• Conducting comprehensive, risk-based investigations into alerts and unusual activity referrals
• Documenting all investigative findings thoroughly and maintaining detailed case files and escalating suspicious activity to the BSA Analyst as appropriate.
• Assisting with adjusting and validating systems rules and parameters of the automated monitoring systems to ensure
• Preparing and filing Currency Transaction Reports (CTRs), Suspicious Activity Reports (SARs), and other required BSA reports within regulatory deadlines.
• Monitoring and responding to potential matches against the Office of Foreign Assets Control (OFAC) SDN list and other watchlists generated by the automated system.
• Ensuring strict compliance with all provisions of the BSA/AML regulations, the USA PATRIOT Act, and OFAC (Office of Foreign Assets Control) sanctions.
• Assisting with internal and external audits, regulatory examinations, and 314(a)/ 314(b) requests by providing documentation and insight into monitoring and investigation processes.
• Conducting enhanced due diligence reviews for high-risk customers and transactions.
• Reviewing new account records to ensure all required Customer Identification Program (CIP) information and documentation is obtained, verified, and complete .
• Reviewing and updating customer risk ratings as needed.
• Verifying the identity and monitoring the proper completion of Beneficial Owner documentation for legal entity customers as required by FinCEN’s CDD rule.
• Assisting in delivering BSA/AML training to bank staff.
• Serving as a resource for branch personnel on BSA/AML related questions.

Benefits

• A friendly, collaborative work environment and outstanding work/life balance.
• An amazing benefits package: including affordable medical, dental and vision plans; employer paid life, short-term and long-term disability insurance; 401(k) plan with company match; generous paid time off and paid parental leave.
• This is an hourly, non-exempt position. We also have a discretionary bonus plan, subject to company performance.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED
• Number of Employees: 51-100 employees