Senior BSA Compliance Analyst

Poppy Bank•Santa Rosa, CA

About The Position

Under minimal supervision, the Senior BSA Compliance Analyst is responsible for account identification, analyzing and reporting any transactions believed to be associated with unusual and suspicious account activity such as potential fraud, structuring, money laundering, or/and terrorist financing to ensure the Bank is in compliance with the Bank Secrecy Act and USA Patriot Act. This includes identification of unusual transactions and escalating incidents to the BSA Officer as appropriate, in a timely and accurate manner. The Senior BSA Compliance Analyst performs various quality controls reviews and monitoring pertaining to the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Customer Identification Program compliance using industry standard and regulatory guidance to ensure the Bank’s compliance efforts are maintained on a daily basis. Ensures compliance within all Bank policies and procedures, as well as all applicable state and federal banking regulations.

Requirements

Advanced understanding of banking and fraud threats posed by money laundering activities
Combination of training and experience that would provide the knowledge and abilities listed above including specific knowledge of State and Federal laws and regulations pertaining to financial institutions (i.e., BSA, AML, OFAC, USA Patriot Act)
Minimum of 5 years BSA and Fraud experience. Experience in depository financial institution processes and procedures or similar experience is preferred
Solid understanding of banking and fraud threats posed by Money Laundering activities
Have a strategic and entrepreneurial mindset with an ability to identify emerging compliance trends and risks, ensuring we stay ahead of the curve
Excellent verbal and written communication skills, with the ability to break down complex requirements into easy to understand and practical systems
Proficiency with computer programs including fraud identification and AML software
Organize workflow efficiently, self-direct personal training needs and utilize available resources
Perform financial analysis, draw logical conclusions, and make recommendations when needed
Sound analytical, evaluation, communication, and interpersonal skills
Ability to distinguish and manage confidential information, materials, and conversations
Establish and maintain effective working relationships with employees from other departments
Ability to work scheduled full-time hours and maintain regular attendance
Ability to multi-task in a fast-paced environment
Comply with all requirements, policies, and procedures of the Bank Secrecy Act (BSA) and complete all mandatory BSA training as needed for this position
Report to the BSA Officer any money laundering, fraud, and other suspicious activity
Comply with all requirements, policies and procedures outlined in the Bank’s BSA/CIP/OFAC Policy
Complete all required compliance and regulatory training, not limited to BSA, as needed for this position

Responsibilities

Conduct in-depth due diligence reviews and prepare comprehensive reports on High and Moderate risk customers to assess and mitigate BSA/AML risk
Gather documents and analyze the risks associated with complex ownership structure, evaluating variables such as source of funds, anticipated activity volumes, and purpose of business relationship
Validate and document customer’s Risk designation or mitigating factors in order to establish periodic EDD review schedule
Independently performs reviews of various reports and transaction data and analyses complex activity to determine if transactions are suspicious in nature
Perform quality control reviews of various AML/BSA/Fraud functions, including but not limited to case investigations, Suspicious Activity Reports (SARs), BSA/Fraud alerts, customer risk reviews, Currency Transactions Reporting (CTR), to determine if the review and research were conducted in accordance with quality standards and time frames set forth within established procedures, policies, and regulatory requirements
Evaluates and adjusts scoring of AML software to provide the most value to the BSA/Fraud program in accordance with established risk tolerance
Assist in transaction testing, data validation, and ongoing customization of the AML software
Proactively monitor, measure, analyze, execute, track and report on data quality issues
Perform root cause analysis of identified data quality issues, tracing data upstream and providing solutions
Suspicious Activity Response – Investigate escalated alerts of potential suspicious activity produced or referred by other areas of the bank and determine appropriate course of action. Exercise solid judgment on examining information, and document suspicious activity, behaviors and/or patterns
Watch List Response – Ensure Watch List information is properly maintained and updated, review and respond to concerns about OFAC, SDN or other Watch List alerts and take mandated action as necessary
Disseminate information, answer questions, and be a subject matter expert on BSA/AML/OFAC/Fraud related issues
Fraud Program Response – This role may directly support the Bank’s Fraud Program, including day to day responsibilities, alert/case investigations and Financial Elder Abuse reporting
Contributes to the development and implementation of Fraud Risk processes, tools, policies, standards, and procedures in alignment with the BSA/AML Program
Keep abreast of Fraud, BSA and AML related regulations for changing compliance and recommend business process improvements
Mentor and work with other less experienced staff in developing additional assets within the team
Review and analyze new and pending laws and regulations. Develop or revise appropriate policies, procedures, and disclosure agreements to ensure compliance
Assist with regulatory examinations and audits, including gathering requested information, developing, and coordinating responses to such reviews as necessary
Assists in ad-hoc special projects as necessary
Attend various seminars, webinars, and other outside compliance training
Minimum of 10 hours CRA volunteer hours per year. Volunteer hours are typically scheduled within business hours. This is compensable time and mileage is reimbursed
Other duties as assigned