BSA SPECIALTY BANKING ANALYST
About The Position
Summit State Bank is an award-winning Community Bank whose core values are based on making a positive impact on our employees, customers, and the communities we serve. Our employees are important to us, we provide rewarding career paths with competitive pay and excellent benefits. If you want to work for a Community Bank that values you and your contributions, we encourage you to apply. We are seeking a detail oriented and experienced BSA Specialty Banking Analyst to join our team. This position is responsible for performing complex duties required to ensure the Bank's compliance with the Bank Secrecy Act (BSA), Anti Money Laundering, Office of Foreign Asset Control (OFAC) monitoring and Financial Crimes Enforcement Network (FinCEN) and Cannabis Banking monitoring requirements. The ideal candidate must have direct Cannabis Related Business (CRB) experience and a strong background in regulatory monitoring, transaction analysis and financial crime prevention.
Requirements
- Associate's degree and minimum 3-5 years of direct CRB related experience.
- Strong understanding of BSA, AML, OFAC, and FinCEN regulatory requirements.
- CRB related experience using transaction monitoring and case management systems.
- Excellent analytical, communication, and problem-solving skills.
- Ability to work independently and as part of a team in a fast-paced environment.
Nice To Haves
- Relevant certifications (e.g., CAMS) are a plus.
Responsibilities
- Conduct onboarding due diligence on the Bank's CRB applicants.
- Conduct quarterly, semi-annual and annual customer reviews to ensure that Bank departments are adhering to the Bank's BSA/AML Compliance and Cannabis Banking Programs.
- Conduct ongoing enhanced due diligence reviews of CRB customers, including validation of licenses, ownership structures, and regulatory compliance.
- Assist in updating of the Bank's CRB policy and procedures and maintenance of the Bank's cannabis monitoring program.
- Conduct comprehensive reviews and investigations of suspicious/potential suspicious activities and the maintenance of supporting documentation.
- Prepare and submit reports to FinCEN and other regulatory agencies as required.
- Accurately gather and/or verify information in accordance with the Bank's Customer Identification Program as required for this position.
- Gathers information for the Bank's annual BSA/AML and CRB risk assessments.
- Performs enhanced due diligence on the Bank's high-risk customers.
- Responsible for daily review of alerts and cases using the Bank's BSA and cannabis monitoring systems.
- Ensure adherence to established policies, procedures, and regulatory guidelines.
- Collaborate with internal teams to support compliance efforts and mitigate financial crime risks.
- Maintain up-to-date knowledge of relevant laws, regulations, and industry best practices.
Benefits
- Medical
- Dental
- Vision
- FSA
- Life
- AD&D and LTD coverage
- employer HSA contributions of up to $4,000 annually
- a 401(k) with employer-matching contributions
- tuition reimbursement
- wellness resources
- internal mentorship programs
- paid volunteer time off
- All full-time positions are eligible for a minimum of three weeks of paid vacation annually.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Industry
Credit Intermediation and Related Activities
Education Level
Associate degree
Number of Employees
51-100 employees
