BSA Analyst (Hybrid, Chicago, IL)

Byline Bank•Chicago, IL

33d•$61,000 - $76,000•Hybrid

About The Position

The BSA Analyst plays a critical role in ensuring the bank's compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) regulations, and related laws. This position is responsible for conducting Enhanced Due Diligence (EDD) reviews of high-risk customers, investigating and analyzing complex financial activity, and making informed decisions on BSA-related alerts and cases. Key responsibilities include completing Suspicious Activity Reports (SARs), supporting the Customer Identification Program (CIP), monitoring Office of Foreign Assets Control (OFAC) compliance, and fulfilling Currency Transaction Reporting (CTR) and USA PATRIOT Act requirements. The analyst serves as a subject matter expert and contributes to the integrity of the bank's compliance program through thorough investigations, clear documentation, and effective collaboration across business units.

Requirements

Bachelor's Degree or equivalent work experience.
3+ years banking experience with knowledge of Bank Secrecy Act regulatory requirements and/or other program related compliance functions; General compliance or operational work related to BSA elements to be considered.
BSA Program related compliance principles, theories, and practices.
Ability to work collaboratively with a variety of stakeholders at all levels.
Be self-motivated and an effective time and project manager with a strong attention to detail.
Have strong change management, organizational and planning capabilities.
Proficiency with Microsoft Office.
Ability to research issues and suggest uses of the information to resolve problems.
Ability to work with confidential information.
Ability to communicate with colleagues and the BSA Officer regarding issues and findings.
Possess strong communication skills both verbally and in writing.

Nice To Haves

Certified Anti-Money Laundering Specialist (CAMS) designation is highly desired, and if not already attained, will be a requirement within a reasonable period of time from starting date depending on examination availability/scheduling.

Responsibilities

Primary responsibility will be reviewing high-risk customer types and high-risk accounts identified via customer risk rating system, transaction monitoring, and other sources to determine whether the assigned customer risk profile remains accurate.
Support onboarding reviews of high-risk clients, including Third-Party Payment Processors, cryptocurrency-related businesses, Fintechs, and Sponsorship Banking Partners. This will include but is not limited to reviewing and evaluating CDD documentation, AML Programs and AML Independent Reviews.
Reviews case management software to investigate and disposition alerts and cases as required, including unusual activity escalated through internal channels.
Analyzes complex financial information, including customer account activity, business type, structure, etc. to arrive at concise written analyses for potential financial.
Complete Suspicious Activity Reports (SARs), Suspicious Activity Investigation Reports (SAIRs) and perform SAR follow-up reviews.
Responsible for supporting the Bank's OFAC/Sanctions program, including analysis of potential OFAC/sanctions name matches with supporting analysis.
Understands and complies with applicable laws and regulations and the bank's BSA/AML and OFAC Compliance Program, as applicable to job duties.
Maintain a solid working knowledge (functional and operational) of the rules and regulations, including but not limited to, BSA, USA PATRIOT Act, and OFAC as well as the Bank's policies and procedures by participating in ongoing training. Including, assisting with administering BSA related training for other business units.
Perform research and investigation related to Grand Jury Subpoenas
Assist with 314b requests and bi-weekly review of 314a reports.
Assist with document preparation for exams and audits.
Provides recommendations to management regarding termination of account relationships, when applicable.
Communicates effectively and efficiently with business lines to obtain needed documentation for investigations.
All other duties as assigned, including special projects.

Benefits

Byline Bank offers competitive industry rate salary bands with the goal of retaining and growing talented individuals.
We regularly review and adjust our compensation structure as needed to ensure equity across teams and levels.
In addition, Byline provides benefits including medical coverage, dental, vision, disability, 401k, paid time off and much more!
Depending on the specific role, compensation may also include discretionary bonuses and other benefit programs.

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