What are the responsibilities and job description for the BSA Analyst position at Allegacy Federal Credit Union?
Allegacy Federal Credit Union
Employee Job Description
February 20, 2025
Job Title: BSA Analyst Job Code:
Report To: Manager, BSA/AML Group
Role Accountability
At Allegacy, there’s a common thread that runs through all of us. It is our commitment to doing right and our promise to members to always do the right thing for their wellbeing. Every employee in our organization is accountable to living out our brand in meaningful ways as our promise motivates our beliefs, our behaviors, and the benefits we share together.
Nature and Scope
This position reports to the Manager, BSA/AML Group. The primary focus of the BSA/AML Analyst is to provide support to the BSA Officer with maintaining the credit union’s BSA/AML compliance program and assists in meeting and maintaining all BSA/AML compliance requirements.
Specific Accountabilities
- Assist in the monitoring and the development of effective processes for customer due diligence, customer risk rating and enhanced due diligence for higher risk customers.
- Assist with required recordkeeping, processing and reporting of all BSA records.
- Ensure proper implementation and adherence to the Credit Union’s BSA/AML program, including but not limited to CIP, CDD, OFAC, and recordkeeping and retention requirements.
- Ensure BSA files remain current, accurate and well-documented.
- Identify and investigate suspicious activity detected in BSA/AML software reports, alerts and/or reports received from staff members.
- Conduct complex data analysis using BSA/AML software tools and other Credit Union systems to detect patterns and trends consistent with money laundering or other illegal activity; experience with Verafin a plus.
- Document analysis details within case management tools.
- Prepare suspicious activity reports to be submitted to BSA Officer.
- Review OFAC hits received by staff including foreign and domestic wire transfers.
- Perform other duties as assigned.
Knowledge, Skills and Abilities
- Knowledge of the laws and regulations applicable to money laundering, including the Bank Secrecy Act (BSA), The USA PATRIOT Act, OFAC requirements, FinCEN requirements, and Suspicious Activity Report (SAR) requirements.
- Be analytical and focused with the ability to analyze documents and reports.
- Have demonstrated ability to handle sensitive and confidential information and matters
- Have excellent time management skills.
- Have excellent communication skills, both verbal and written.
- Be flexible and able to shift resources and priorities as required.
- Be able to complete all assignments with minimal supervision.
Requirements:
Education and Experience
Bachelor’s Degree required, equivalent combination of education and experience
1-4 years of experience in BSA/AML compliance, preferably within the financial services industry.
Knowledge of the Bank Secrecy Act laws, regulations and reporting requirements.
Certified Anti-Money Laundering Specialist (CAMS) is a plus.
