BSA Analyst

Needham Bank•Needham, MA

4d•$69,794 - $90,733•Hybrid

About The Position

The BSA Analyst supports the Bank’s Bank Secrecy Act, Anti-Money Laundering, Countering the Financing of Terrorism, and Office of Foreign Assets Control compliance programs. The role performs BSA risk identification and prevention functions, along with other duties assigned by management. It includes reviewing alerts, investigating suspicious activity, supporting CTR/SAR filing and Enhanced Due Diligence reviews, and monitoring accounts and transactions using reports and AML/Fraud monitoring software. The analyst maintains accurate risk-related data and documentation, investigates high-risk transactions and potential fraud or money laundering, and ensures regulatory reporting and customer monitoring deadlines are met. The position works with business units to support compliance and mitigate bank risk, escalates significant findings, and follows applicable bank policies, regulations, confidentiality standards, and Needham Bank’s core values. The position combines three days in a normal business office environment with two remote working days. Needham Bank states that the full-time role offers a competitive salary and benefits package.

Requirements

Knowledge of Bank Secrecy Act, Anti-Money Laundering, Office of Foreign Assets Control regulations, and Bank policies.
Strong written and oral communication skills, including the ability to write reports and business correspondence.
Ability to recognize operational and system control gaps and recommend solutions to management.
Working knowledge of Excel, Word, and Outlook, and comfort learning and using new software.
Self-motivated, professional, detail-oriented, and organized, with the ability to handle multiple assignments and changing priorities.
Ability to manage multiple cross-functional tasks, adapt to change, and work independently and collaboratively in a dynamic, fast-paced environment.
Bachelor’s degree; a combination of education and experience may be considered.
1–3 years of similar or related experience and/or training, or an equivalent combination of education and experience, preferred.

Nice To Haves

Experience in banking, risk, or audit.

Responsibilities

Enter and update risk-related data in internal systems, databases, and spreadsheets, maintaining organized, current records and appropriate documentation while ensuring data integrity and completeness.
Review BSA/AML alerts, investigate suspicious activity, and handle CTR/SAR filing and Enhanced Due Diligence reviews as needed.
Monitor accounts and transactions using reports and the Bank’s AML/Fraud monitoring software.
Analyze and research high-risk transactions and ad-hoc reports to identify and investigate possible fraud or money laundering.
Meet deadlines for regulatory report submissions and complete customer monitoring functions on time.
Escalate significant findings to management as appropriate.
Work with business units to ensure compliance with applicable laws and mitigate risk to the Bank.
Uphold the Bank’s BSA standards and follow its BSA/AML Program, confidentiality policy, code of ethics, policies and procedures, consumer compliance laws and regulations, and best-practice recommendations.
Support a culture of teamwork, transparency, and accountability within the Bank.
Perform additional duties as requested, needed, or assigned.