BSA Investigator I

WSFS Financial Corporation•Bryn Mawr, PA

57d

About The Position

At WSFS Bank, we empower our Associates to grow their careers, guide our customers to secure their financial futures, and actively support our Communities so they can fully thrive. Careers with WSFS Bank offer an inclusive and supportive culture, competitive salaries, advancement opportunities, and more. We are the region's locally headquartered bank and wealth management company. We are honored to consistently be named a Top Workplace by our Associates, who make a difference every day for the people, businesses, and Communities we serve. We Stand For Service is more than part of our name, it's our mission and our purpose. The Bank Secrecy Act (BSA) Investigator I position will investigate BSA/AML alerts which have been escalated from the transaction monitoring system, other unusual activity report referrals, and Enhanced Due Diligence (EDD) reports to help prevent, detect, and deter money laundering and terrorist financing using a risk-based approach. In this position, the investigator will be able to identify and report suspicious behavior and transactional activity which will ensure the BSA/AML department's transaction monitoring responsibility and reporting requirements. The incumbent will be responsible for maintaining and ensuring organizational compliance with the Bank Secrecy Act (BSA) regulations.

Requirements

Bachelor's degree in Business or related field or equivalent work experience with some college course work preferred.
2-3 years of experience as a case investigator working alerts, cases, SARs, and EDD's.
2-3 years of experience in analyzing suspicious activity.
3-4 years of experience working with individual and/or business accounts. Familiarity of WSFS Bank products and services is preferred.
Extensive knowledge of MS Word, Excel as well as IBS system applications and account history, with emphasis on operating and analyzing alerts from Verafin.
Ability to analyze information as well as question and investigate results from program reports.
Must have knowledge to review account activity and the ability to recognize or question activity beyond its normal scope.
Ability to work with and communicate with Associates and management in all Bank departments and within the entire corporation.
Excellent oral and written communication skills as well as good written, oral, and visual presentation skills.

Nice To Haves

Familiarity with branch or department account relationship activity and some audit or compliance knowledge is preferred.
Prior experience with the following systems (or ability to learn quickly): Verafin, Money Gram, and Word/Excel/PowerPoint/Visio.

Responsibilities

Work initial cases or complex cases and in additional learn how to complete cases that result in a SAR after being escalated from the Alert process.
Investigate escalated incidents involving money laundering and terrorist financing activities to help minimize organizational exposure to BSA/AML risk.
Responsible for conducting investigations based on review of customer information, transactional activity, and other public sources of information to reach a conclusion.
In support of their manager or team lead will prepare, write, and file suspicious activity reports (SARs) as necessary to comply with SAR filing requirements.
Provide 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 and losses.
Conduct investigations based on escalated transactional monitoring system alerts, unusual activity referral reports, Law Enforcement Request, etc., and Enhanced Due Diligence (EDD) reports in a high-volume deadline environment.
Utilize a variety of analytical techniques and computer systems to make informed decisions concerning customer account status.
Ensure that potentially unusual or suspicious transactions are appropriately identified, documented, and escalated for determination if a SAR is required Ensure that the Bank's internal policies and procedures are adhered to.
Ensures compliance with BSA/AML related laws and regulations or identify matters of non-compliance and escalate them to management for a resolution.
Contact the lines of business for additional information as needed.
Manage multiple complex cases involving matters such as multiple relationship accounts (related parties), tiered and multi-faceted transactions, international wires involving bank designated high-risk jurisdictions, and complex cash structuring schemes.
Build and maintain awareness of the broader context and implications of various types of risk affecting the bank in all lines of business.
Compile evidence and documentation in compliance with BSA/AML regulatory requirements.
Maintain a current thorough understanding of money laundering and terrorist financing issues, including policies, procedures, regulations, industry best practices, criminal activities, and developing trends. Support the mission, strategy, and values of WSFS.

Benefits

WSFS provides a competitive benefits package, which includes medical, dental, and vision coverage; a 401(k) plan; life, accident, and disability insurance; flexible spending accounts (FSAs) and health savings accounts (HSAs); and wellness programs.
Additional benefits may include paid parental leave, military leave, vacation and other paid time off, sick leave in accordance with applicable state laws, and paid holidays.

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