BSA/KYC Analyst I (onsite)

Newtown Savings Bank•Newtown, CT

8d•Hybrid

About The Position

Our Bank Secrecy Act (BSA)/Know Your Customer (KYC) Analyst I position is an opportunity for individuals with 2-4 years of professional financial services experience. Newtown Savings Bank is seeking an organized, team player who is responsible for supporting the Bank’s KYC, Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) processes. Responsibilities include reviewing customer and legal entity documentation, validating beneficial ownership information, and conducting research and analysis to ensure compliance with Bank policies, regulatory requirements, and State of Connecticut documentation standards. The position requires strong analytical, investigative, and problem-solving skills to identify documentation deficiencies, resolve discrepancies, and assess customer risk. While the primary focus is KYC-related activities, the BSA/KYC Analyst I also supports the Bank’s BSA/AML program through case investigations, ongoing monitoring, and the preparation of thorough case documentation to support SAR and Non-SAR recommendations. The role contributes to the Bank’s overall financial crime risk management efforts through effective due diligence, risk assessment, and regulatory compliance. This is an onsite opportunity at our Corporate office in Newtown, CT. The role has a remote option of one day per week.

Requirements

Bachelor’s Degree or equivalent experience (i.e., 2-4 years’ experience in professional financial services).
Requires specialized knowledge of Bank Secrecy Act, USA Patriot Act, Money Laundering Control Act, Office of Foreign Asset Control (OFAC), Financial Action Task Force (FATF), PEP regulations, FinCEN CDD Rule, and all associated regulations and interpretations.
Ability to meet assigned deadlines.
Ability to multi-task and work independently as well as communicate well with colleagues and management.
Detail-oriented with a strong customer focus.
Strong research, investigative, analytical, and organizational skills.
Ability to analyze legal entity documentation, ownership structures, and public records to determine compliance with Connecticut and federal requirements.
Must have strong working knowledge of MS Office Suite products.

Nice To Haves

Familiarity with various Fraud/BSA/AML detection systems, preferred.

Responsibilities

Supports BSA Officer with audit, state, and federal exam preparations.
Stays current with changes in AML/BSA/KYC regulations and trends.
Maintains detailed case notes and documentation including communications between business units and documentary support of findings.
Exercises solid judgement while examining, identifying, and documenting suspicious account activity behaviors and patterns.
Interacts with internal customers to provide a positive customer experience.
Supports and educates internal customers on KYC requirements.
Researches and analyzes legal entity formation documents, organizational structures, operating agreements, trust documents, and other account-opening documentation to determine sufficiency and compliance with regulatory requirements and Bank policies and procedures.
Identifies missing, inconsistent, incomplete, or potentially inaccurate customer information and requests the subject business unit to resolve discrepancies and escalate findings when appropriate.
Conducts detailed review of ownership and control to validate beneficial ownership information, ensuring alignment with FinCEN CDD Rule.
Responsible for the following reviews: beneficial owner, KYC QC, missing TIN, out-of-state customers, and Power of Attorney (POA).
Manages the review at onboarding to ensure complete records of CDD.
Performs CDD/EDD alert review and report/investigate questionable activities to BSA Officer through case management.
Conducts ongoing monitoring of business relationships including ensuring that the transactions conducted are consistent with the knowledge of the customer, the business and risk profile/ratings, including, where necessary, the source of funds and ensuring that documents, data, or information held are up to date.
Assists in maintaining departmental documentation including procedures and task lists.
Supports BSA team with project plans, documents progress and provides updates, as necessary.
Reviews and maintains site visits for high-risk customers.
Conducts periodic review and evaluations of high-risk customers and activities such as CBD/Hemp, MSB, or Private ATMs per compliance requirements.
Prepares thorough case notes and documentation to support SAR/Non-SAR recommendations.
Prepares timely and accurate SARs according to FinCEN and Bank standards.
Prepares accurate and timely statistical reporting for monthly KYC related Key Performance Indicators (KPI).