BSA OFAC Analyst 2

Farmers and Merchants Bank of Long Beach•Lakewood, CA

5d•$35 - $56•Onsite

About The Position

The BSA/OFAC Analyst assists in the administration and execution of the Bank’s Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) Compliance Program. This position supports the Bank’s BSA, AML, and OFAC monitoring, investigative, and reporting processes to ensure compliance with applicable laws, regulations, and internal policies. The BSA/OFAC Analyst is responsible for identifying, investigating, and escalating unusual or suspicious activity in a timely manner, helping protect the Bank from money laundering, terrorist financing, fraud, and other financial crimes. This role contributes to safeguarding the integrity and reputation of the Bank while supporting regulatory compliance requirements. In addition, the Analyst provides support to other BSA functional areas, participates in departmental and enterprise-wide projects, and assists with special assignments designed to enhance the effectiveness of the Bank’s financial crimes compliance program.

Requirements

Proficient knowledge of BSA / AML software to adequately detect, review and report suspicious activity
Sound judgement, integrity and commitment to ethical behavior
Ability to maintain confidentiality and treat sensitive information with discretion
Robust knowledge and understanding of AML/BSA/OFAC regulatory matters
Flexible and able to adapt quickly to changing work environments / priorities and tight deadlines
Demonstrates sound judgment, high integrity, and a strong commitment to ethical and professional conduct.
Ability to maintain strict confidentiality and exercise discretion when handling sensitive and proprietary information.
Working knowledge of the Bank Secrecy Act (BSA) and related Anti-Money Laundering (AML) regulations.
Understanding of Office of Foreign Assets Control (OFAC) regulations and sanctions compliance requirements.
Knowledge of the USA PATRIOT Act and its application within a financial institution compliance framework.
Flexible and able to adapt quickly to changing work environments / priorities and tight deadlines
Operates standard electronic computers and customary office equipment required to perform essential job functions.
Use of equipment is required, with or without reasonable accommodation, in accordance with the Americans with Disabilities Act (ADA) and the California Fair Employment and Housing Act (FEHA).
Ability to perform repetitive movements associated with office and computer-based work.
Ability to sit and or stand for extended periods of time to perform essential job functions.
Ability to lift, carry, or move objects weighing up to 25 pounds, with or without reasonable accommodation.
Ability to use hands and fingers to manage, manipulate, or feel objects and operate standard office equipment.
High School Diploma or equivalent required
Minimum of five (5) years of banking experience, with a strong emphasis on customer service and client support.
Minimum of five (5) years of experience in BSA/AML and OFAC compliance within a financial institution.

Nice To Haves

Certified Anti-Money Laundering Specialist (CAMS) certification preferred; certification may be required within a specified timeframe after hire.

Responsibilities

Conduct research and investigations on potential OFAC matches, including negative news searches, utilizing Bank systems, public records, online resources, and subscription-based databases.
Analyze potential OFAC and sanctions-related alerts and escalate confirmed or potential matches to management with well-supported recommendations for resolution.
Maintain a thorough understanding of OFAC requirements, including the proper handling of blocked, frozen, rejected, and reportable transactions, ensuring compliance with all regulatory reporting deadlines.
Monitor regulatory developments, including BSA, AML, OFAC, and FinCEN guidance, and incorporate changes into daily practices and procedures.
Review real-time wire transfers, ACH transactions, and other customer activity for potential matches against OFAC sanctions lists, watchlists, and high-risk jurisdictions.
Analyze complex transactional activity and customer relationships to identify potential suspicious, unusual, or high-risk activity and provide comprehensive investigative recommendations.
Perform reviews and investigations independently while exercising sound judgment in identifying potential compliance risks.
Serve as a resource to Bank employees by responding to BSA/AML/OFAC-related questions and providing guidance on regulatory requirements and internal procedures.
Collaborate with BSA management, investigative units, business lines, and branch personnel to resolve potential compliance concerns and mitigate risk.
Assist with BSA/AML and OFAC risk assessments, internal audits, regulatory examinations, country risk reviews, and other compliance-related initiatives.
Conduct training and knowledge-sharing sessions for frontline staff and BSA personnel regarding BSA/AML and OFAC requirements, trends, and best practices.
Review and investigate FinCEN Section 314(a) requests on a bi-weekly basis and appropriately document and disposition potential matches within required timeframes.
Review, evaluate, and respond to FinCEN Section 314(b) information-sharing requests as needed and in accordance with regulatory requirements.
Partner with cross-functional team members to provide training, guidance, and operational support when needed.
Provide support to other BSA functions, including Enhanced Due Diligence (EDD), Currency Transaction Reporting (CTR), investigations, and other compliance-related teams as needed.
Maintain complete, accurate, and timely documentation of investigations, findings, decisions, and regulatory reporting activities in accordance with Bank policy and regulatory expectations.
Participate in special projects, process improvement initiatives, system implementations, and other assignments to enhance the effectiveness of the Bank's BSA/AML and OFAC compliance program.