BSA/AML Analyst II

WHO ARE WE: Alerus is a commercial wealth bank and national retirement provider with one core purpose: helping clients achieve their financial goals. We are driven by a shared commitment to always do the right thing; leading with integrity and providing valued advice and guidance to our clients. We value the expertise and skillsets each team member provides and encourage collaboration, innovation, adaptability, and an entrepreneurial spirit at all levels of our company. By consistently seeking improvements and growth, we foster long-term relationships with clients and team members. We are proud to be recognized as a Top Workplace by numerous industry and regional outlets.

CORE VALUES: Passion for Excellence :: Success is Never Final :: Do the Right Thing :: One Alerus

ABOUT THE ROLE:

The BSA/AML Analyst II is a valued part of a cohesive team focused on detecting and preventing the bank from illicit activity, including money laundering and terrorist financing. The BSA/AML Analyst ll position will identify unusual transaction behavior patterns on accounts and will be a resource to team members. This role will prepare case summaries and make recommendations on the disposition of cases and prepare SARs as required. The structure of this position requires the ability to work with processes based on varying and unique results and circumstances, not on defined instructions. This position requires attention to detail, as well as excellent analytical skills to identify suspicious activity. This position requires the individual to exercise sound judgment and to observe the highest degree of confidentiality in the handling of information. Other responsibilities include reporting, recordkeeping and various processes related to the Bank Secrecy Act. This position operates under the guidance of team members and the BSA Officer.

WHAT YOU’LL BE DOING:

• Detect and Investigate: Detect and investigate suspicious activity from various BSA alerts, reports, and systems. Keep detailed documentation of investigations within the Verafin case.
• Collaborate and Report: Collaborate with other departments to resolve suspicious activity, escalate complex cases to higher authority team members, and identify activities requiring SAR filing.
• Communication and Process Improvement: Develop and maintain collaborative relationships with internal and external clients, communicate effectively, and make recommendations to improve the ability to deter suspicious activity.
• Monitoring and Reporting: Perform 314(a) monitoring processes, report potential true positives to the BSA Officer, prepare and submit CTRs, handle the CTR Exemption process, and review transaction and customer screening reports for potential OFAC violations.
• Due Diligence and Compliance: Monitor the completion of CDD, CIP, and KYC by front-line personnel, and perform enhanced due diligence on high-risk customers and products to ensure compliance with BSA/AML requirements.
• Coverage and Documentation: Provide primary and backup coverage for BSA and fraud processes and maintain written procedures.
• Training and Collaboration: Provide one-on-one training for specialized processes and participate in team meetings
• Continuous Learning and Compliance: Attend mandatory training, stay updated on systems, pursue ongoing education, and maintain knowledge of compliance regulations.

WHAT YOU SHOULD HAVE:

• Associate’s degree or equivalent combination of education and/or 2-5 years financial industry experience.
• Minimum 2-3 years of experience in Fraud or BSA/AML required.
• Previous banking or financial services experience required
• Possesses investigative and research skills using various systems.

WHAT WE BRING TO THE TABLE:

• Competitive compensation including base salary, bonus and/or incentive opportunities.
• Comprehensive benefits package providing a wide range of health and well-being benefits, including medical, dental, vision, life and long-term disability insurance; and 401(k) and ESOP for retirement savings.
• Generous paid time off programs such as flexible time off, company-paid holidays, parental and bereavement leave.
• Learning and development resources for personal and professional career development, and advancement opportunities.
• Access to financial experts for guidance, financial wellness tools, and discounts on Alerus products and services.
• Support for the communities we live in through paid volunteer time and a company donation match opportunity.

WORK ENVIRONMENT: Work is typically performed in an office setting. The employee is regularly required to sit for extended periods of time. The employee is occasionally required to move about the office utilizing proper ergonomic safeguards when doing so. Additionally, the employee must occasionally lift or move supplies and materials up to 20 pounds.

BASE PAY RANGE:

$22.00 - $27.00 per hour

The above information in this description has been designed to indicate the general nature and level of work performed by employees in this position. It is not designed to contain or be interpreted as an exhaustive list of all responsibilities, duties, and qualifications required of employees assigned to this job.

Alerus is an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

Salary : $22 - $27