Cash Connect Compliance Analyst II

WSFS Bank•Newark, DE

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 Compliance Analyst II will assist the Cash Connect Due Diligence Team Lead in achieving compliance with all laws and regulations with emphasis on BSA. The analyst will be responsible for ensuring applications are accurate and in accordance with the information obtained from required documentation. The Compliance Analyst II will conduct onboarding for new and existing clients to ensure compliance with Bank Secrecy Act (BSA), Anti-Money Laundering (AML) regulations, OFAC requirements, Client Identification Program (CIP), Know Your Client (KYC), Client Due Diligence (CDD) and Enhanced Due Diligence (EDD) standards and present results to Team Lead for review and submission to Cash Connect approval committee. This role requires reviewing higher risk clients, analyzing complex business structures, analyzing client financial information and internal Cash Connect databases as part of evaluating expected client activity levels; and ensuring profile changes to existing clients are conducted in a manner that adheres to all applicable rules and regulations. When necessary, the Compliance Analyst II will assist the Team Lead in other risk management reviews and responsibilities.

Requirements

Bachelor’s degree in business administration, Finance, Criminal Justice, Accounting or related field.
3+ years in BSA/AML or onboarding/KYC experience, preferably in financial services or cash logistics.
Strong understanding of BSA, AML, USA PATRIOT Act, OFAC, CIP, CDD/EDD and related regulations.
Ability to interpret business structures, financial records and legal documents.
Skilled in making sound compliance decisions.
Excellent written and verbal communication skills, especially for documenting onboarding decisions.
High attention to detail, strong organizational abilities and ability to manage multiple clients onboarding simultaneously.
Proficiency in Microsoft Office.
Excellent organizational, communication, and analytical skills.

Nice To Haves

CAMS certification (or similar) is a plus.
Experience reviewing complex onboarding cases or high-risk clients is a plus.
Ability to manage multiple priorities and meet deadlines in a high-security environment.
Must have proven ability to quickly learn new areas, as well as solid understanding of all major parts of the business.

Responsibilities

Conduct comprehensive onboarding reviews for new and existing clients including verification of CIP and KYC information.
Evaluate client risk by reviewing business models, ownership structures, source of funds, expected activity and geographic exposure.
Perform Enhanced Due Diligence (EDD) on clients.
Review business formation documents, beneficial ownership information licensing and AML program documentation (when applicable)
Conduct OFAC and sanctions screening including clearing potential name matches, false positives and escalation of true hits.
Research negative news, PEP exposure, regulatory actions and legal risks to support onboarding decisions.
Analyze account information, transaction expectations and external data sources to identify unusual patterns or elevated AML risk.
Recommend approval, conditional approval or denial of onboarding requests with well supported documentation and rationale.
Collaborate with internal stakeholders to communicate compliance requirements and manage onboarding escalations.
Prepare written summaries outlining findings, risk factors and recommendations for review by Team Lead.
Assist in compiling information for regulatory examinations, internal audit and compliance testing.
Stay current with regulatory changes, emerging financial crime risks and industry best practices.
Responsible for tracking and obtaining site visit forms.
Responsible for ensuring proper compliance for profile change management.
Provide periodic updates to Team Lead regarding status of potential clients in pipeline.
Assist in the organization’s efforts to prevent money laundering, terrorist financing and other illicit financial activities.
Responsible for training new and current associates for compliance related.
Perform and assist in projects as requested by Team Lead.

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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