Sr. EDD Analyst

Mechanics Bank • Roseville, CA

3d • Onsite

About The Position

Mechanics Bank is currently searching for a full time Sr. EDD Analyst to join our team at our Roseville location. Here at Mechanics Bank, we value connection, partnership, long term relationships and working together in person. The Sr. EDD Analyst reviews, assesses, and validates customer records to aide in the detection of possible money laundering and terrorist financing, utilizing risk-based approach methods that align with the Bank's risk appetite while ensuring compliance with the established BSA/AML program. Conducts detailed assessments of customer risk and independently drafts due diligence summaries and other written investigative/intelligence products to support judgments, decisions and recommendations. The Sr. EDD Analyst maintains excellent knowledge of financial crime typologies and is well versed in the identification of and escalation of possible suspicious activity for further investigation. Recommends course of action to management based on an analysis of the findings and documents the analysis in the Bank’s case management system. Performs all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.

Requirements

• 4 Year / Bachelors Degree or equivalent combination of education and/or 4+ years related financial industry experience required.
• 3 years in financial crimes or money laundering required
• 2 years utilizing a BSA/AML detection and case management system preferred.
• 2 years EDD and higher risk customer investigative reviews preferred.
• Lending background, previous branch, BSA/AML, fraud, loss prevention or corporate security investigative experience or other experience analyzing customer financial activity for unusual behavior preferred.
• Certified Anti-Money Laundering Specialist (CAMS) or related industry certification strongly preferred.
• Travel required 0 -10%

Responsibilities

• Reviews entire customer relationship in determining the risk presented for money laundering and terrorist financing by understanding the nature and purpose of the customer relationship, as well as the nature and purpose of the customer relationship, the types of transactions in which the customer is likely to engage.
• Assesses and analyzes the risk(s) posed by the customer to the Bank through a comprehensive transaction analysis of the source and use of funds, adequately describing counter-parties in transactions and their relationship to the customer’s industry type that are commensurate with expected activity and within the Bank’s risk appetite.
• Provides a timely and complete narrative assessment of the findings in a concise, detailed and accurate manner consistent with regulatory expectations and Bank policy and procedures.
• Maintains a thorough understanding of the BSA/AML and OFAC Sanctions compliance, including CDD and EDD requirements and money laundering and financial crime and terrorist financing typologies.
• Communicates with lines of business and management when researching and conducting reviews, issue identification and resolution.
• Assists in transaction testing, data validation, and ongoing customization of the AML software.
• Utilizes advanced investigative techniques and tools to conduct detailed assessments of Bank customers and their risk for money laundering, financial crimes and terrorist financing, through thorough and complex analysis of customer transaction patterns, negative news on the entity/customer, public records, open source media, vendor systems, or other research tools to assess and mitigate BSA/AML risk.
• Analyzes the risks associated with complex account relationships, including a holistic review of customer’s ownership structure, evaluating variables such as transactions, source of funds, anticipated activity volumes, and purpose of business relationship.
• Conducts initial enhanced due diligence for prospective higher risk customers and recommend decision to onboard/decline based on supporting risk assessment (e.g. customer type, geographic, products/services, counterparties, beneficial owners, expected transactions, etc.) performed on the prospect as well as related parties and determine risk rating.
• Performs risk reviews on existing customers to analyze transactions and to identify issues or trends and develop conclusion on reasonableness of the prospective customer’s controls, activity, business structure, in order to determine if the perspective customer is within the Bank’s risk appetite.
• Independently draft due diligence summaries and other written investigative/intelligence products to support judgments, decisions and recommendations.
• Where warranted and supported with appropriate documentation, recommend exiting the relationship and closure of the account.
• Responsible for collaborating with the front lines to identify additional information in support of the due diligence investigation and follow-ups to ensure timely receipt.
• Accountable for strict adherence to all regulatory deadlines, internal service level agreements, production expectations, and consistent and accurate application of policies and procedures.
• Maintains a thorough understanding of the BSA/AML and OFAC Sanctions compliance, including CDD and EDD requirements and money laundering and financial crime and terrorist financing typologies.
• Familiarity with EDD reviews, customer risk ratings and applying risk-based analysis and reporting methodologies.
• Communicates with lines of business and management when researching and conducting reviews, issue identification and resolution, account closures, etc.
• Keeps management apprised of issues or emerging risks.
• Proactively remains current and knowledgeable on internal policies, procedures, BSA/AML/OFAC and related regulatory requirements, FinCEN guidelines, local/state requirements and industry practices.
• Participates in ongoing training to maintain knowledge of BSA/AML and OFAC regulatory requirements and new and emerging money laundering and financial crimes typologies.
• Provides training and mentorship for new EDD Analysts.
• Assists with any ad-hoc projects that relate to EDD and other areas of BSA and AML compliance.
• Promotes a risk-aware culture, ensures efficient and effective risk and compliance management practices by adhering to required standards and processes.
• Assists in transaction testing, data validation, and ongoing customization of the AML software.
• Requires continuous exercise of judgment following broad guidelines.
• Other duties as assigned.

Benefits

• Medical, prescription, dental, and vision coverage for employees and their eligible family members
• Employer paid Employee Assistance Program, Life Insurance, AD&D, and Disability benefits
• Health Savings Account with employer contribution
• Healthcare and Dependent Care Flexible Spending Accounts and Commuter/Parking Benefit
• 401(k) and Roth 401(k) with company contribution
• 529 Education Savings plan, Tuition Reimbursement Program and Student Loan Assistance Program
• Supplemental Health plans, Voluntary Legal and Identity Theft Services
• 11 paid holidays, paid Sick days (accrual of one hour for every 30 hours worked), up to 25 paid vacation days, and 16 hours of paid volunteer time throughout the calendar year
• Free personal checking and savings account; Discounted rates on primary residence loan with $0 origination fees (restrictions apply)

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level