BSA Analyst

Arizona Financial Credit Union•Phoenix, AZ

14h•Hybrid

About The Position

The position is responsible for AML processing, which includes suspicious activity investigations and reporting, sanctions, and politically exposed person screening, OFAC, CDD/EDD screening, CTR and SAR filings. This role also involves the business account opening review process and other AML-related processes. The position will work closely with the Senior BSA Analyst and BSA Manager to ensure critical functions are fulfilled timely and accurately. The analyst will stay current on BSA system enhancements and recommend changes in settings and procedures to maximize effectiveness. Responsibilities include reviewing system-generated alerts for potential matches, conducting research, and documenting detailed results. The role also involves reviewing PEP and Sanction alerts, completing follow-up reviews on previously reported suspicious activity, identifying trends, and reporting them to management. All mandatory training must be completed by deadlines and understood within given timescales. The ability to communicate with staff and management in a friendly tone and provide training as needed is essential. The analyst ensures consistent visibility for program and project teams by monitoring and reporting business objectives, program/project achievements, and key indicators. They will remove obstacles and impediments to ensure business and operational objectives are met, identify and apply best practices and needed process improvements, and ensure compliance with company policies and procedures. The role monitors project execution to deliver incremental business value.

Requirements

High School diploma or GED
Two (2) years’ experience in BSA/AML compliance management in a financial institution.
Knowledge of computers and software applications in Windows, Excel, Access, and Word.
Ability to read, write and speak English.
Ability to read, analyze and interpret technical procedures, financial reports, legal documents, and government regulations.
Ability to write business correspondence and business policies and procedures of a technical nature.
Ability to communicate verbally both in person and on the telephone.
Ability to speak with staff and management in person and on the telephone.
Ability to define problems, collect data, establish facts, and draw valid conclusions.
Experience in senior level decision making at a financial institution.
Ability to speak effectively and present information to groups and to management.
Business operational internet to complete work tasks and communicate via video call or chat messaging systems in a dedicated workspace (for remote work).

Nice To Haves

Knowledge of BSA/AML and CDD/EDD requirements for financial institutions.
Detailed knowledge of and experience in BSA, AML, CIP, OFAC and USA PATRIOT Act regulations as they relate to a retail and commercial banking environment.
Knowledge and experience in BSA/AML system including system settings and parameters.

Responsibilities

Reviews onboarding documentation for all new business accounts and risk rate accounts using AML system risk rating module.
Performs the Due Diligence and system data entry for all new business accounts.
Monitors and validates risk rating for all new personal accounts using the AML system risk rating module.
Conducts enhanced due diligence and monitoring efforts for new customers identified as high risk.
Identifies high risk accounts from information received from other departments, branches, Suspicious Activity Reports (SAR’s) and Currency Transaction Reports (CTR’s).
Performs independent analysis for cases involving suspicious activity including, but not limited to, structuring, check fraud, and kiting for presentation to the BSA Manager, BSA Officer, and VP of Risk.
Schedules and performs analysis of core application and AML system reports that identify potential suspicious activity including case management.
Manages cases of potentially suspicious activity from the AML monitoring system, including analysis of transaction activity and balances for review by BSA Manager, BSA Officer, and VP of Risk.
Monitors ongoing, as required, of all high risk and medium risk accounts in accordance with the established monitoring schedule.
Manages BSA/AML system settings, makes recommendations for changes, and reports any changes or outlying results to Account Protection Manager.
Performs testing of BSA/AML systems in conjunction with system or Core upgrades.
Maintains communications with Account Manager(s) for BSA/AML systems.
Performs review of the Credit Unions Customers Identification Program and other lists for compliance with FinCEN 314a requests or OFAC filtering results.
Performs periodic OFAC updates/screenings and FinCEN 314a requests and investigates potential matches to make a disposition.
Stays current with changes in BSA regulations and develops related procedures or revisions to the BSA program with the BSA officer.
Assists during examinations and audits conducted by the regulatory authorities and external and internal auditors.
Participates in compliance and regulatory initiatives and other special projects, including execution of project plans for new regulations, regulatory guidance, and compliance processes.
Cross-trains on other BSA/AML related functions.
Reviews and approves wire transfer requests.
Reaches out to consumer and business members, on a business need basis.
Performs other job-related duties as assigned.