BSA Specialist

First Fed•Washington, DC

1d•$23 - $42•Onsite

About The Position

The BSA Specialist supports the Bank's Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), Office of Foreign Assets Control (OFAC), Customer Due Diligence (CDD), and related financial crimes compliance programs through monitoring, review, research, and regulatory reporting activities. The BSA Specialist is responsible for reviewing alerts, referrals, customer due diligence requirements, watchlist and sanctions monitoring, and other financial crimes detection activities to identify unusual or suspicious activity requiring additional review. The Specialist gathers information, performs research, documents findings, and escalates matters requiring formal investigation. This position also assists with fraud prevention and fraud operations activities as assigned and helps ensure the Bank maintains compliance with applicable laws, regulations, policies, and procedures while protecting the Bank and its customers from financial crime.

Requirements

Two (2) year of banking, fraud, compliance, operations, audit, investigations, customer service, or related experience preferred (BSA Specialist I).
Experience with BSA-related programs or case building applications (BSA Specialist I).
Proficiency with standard computer applications including Microsoft Office Suite (BSA Specialist I).
Strong reasoning and problem-solving skills (BSA Specialist I).
Strong organizational skills and high attention to detail (BSA Specialist I).
Strong verbal and written communication skills (BSA Specialist I).
Ability to work independently and with a team (BSA Specialist I).
Ability to manage time well and prioritize tasks (BSA Specialist I).
Minimum three (3) years of banking, BSA/AML, fraud, compliance, operations, audit, investigations, or related experience preferred (BSA Specialist II).
Strong understanding of BSA/AML, OFAC, CDD, EDD, and financial crime risk concepts (BSA Specialist II).
Experience reviewing customer activity, due diligence requirements, alerts, or regulatory reporting (BSA Specialist II).
Demonstrated ability to independently perform EDD reviews and complex alert analysis (BSA Specialist II).
Strong understanding of BSA/AML, OFAC, CDD, EDD, and financial crime risk concepts (BSA Specialist II).

Responsibilities

Review and disposition transaction monitoring alerts generated through Verafin and other Bank systems.
Review Customer Due Diligence (CDD) alerts and obtain, analyze, and document customer information necessary to support customer risk assessments.
Perform Enhanced Due Diligence (EDD) reviews and recommend escalation of higher-risk or more complex customer relationships.
Review OFAC, watchlist, sanctions screening, negative news, and other risk-monitoring alerts in accordance with established procedures.
Review customer activity, account relationships, and transactional behavior to identify unusual activity, elevated risk, or information requiring additional review.
Obtain and document information from customers, business units, public records, and internal systems necessary to support due diligence and monitoring requirements.
Prepare and file Currency Transaction Reports (CTRs) in accordance with regulatory requirements and internal procedures.
Open cases and escalate activity requiring formal investigation based on monitoring results, due diligence reviews, referrals, customer activity, or other identified concerns.
Document alert reviews, due diligence reviews, referrals, findings, and recommendations in accordance with department procedures.
Assist with maintenance of customer risk ratings, high-risk customer records, and periodic review requirements.
Respond to BSA-related inquiries and provide support to business units regarding due diligence, monitoring requirements, and financial crimes compliance procedures.
Identify unusual activity patterns, emerging risks, or opportunities for process improvements and communicate recommendations to management.
Maintain complete, accurate, and timely records in accordance with regulatory requirements and Bank procedures.
Maintain regular and predictable attendance.
Handle a larger volume of alert reviews and due diligence reviews (BSA Specialist II).
Review more complex customer relationships and account activity (BSA Specialist II).
Conduct more advanced EDD reviews (BSA Specialist II).
Perform more extensive pre-investigation research prior to case escalation (BSA Specialist II).
Provide guidance and assistance to BSA Specialist I employees (BSA Specialist II).
Assist with training, onboarding, and process coaching (BSA Specialist II).
Exercise greater independent judgment in alert disposition, risk identification, and escalation decisions (BSA Specialist II).
Serve as a departmental resource for regulatory monitoring requirements and due diligence processes (BSA Specialist II).