Senior BSA/AML Analyst

Description

Job Summary

The Senior BSA/AML Analyst is responsible for ensuring that the bank complies with all regulatory requirements regarding anti-money laundering (AML) and the Bank Secrecy Act (BSA). This role involves conducting in-depth analysis of financial transactions, customer activity, and risk profiles to detect suspicious behavior or transactional activity that may indicate money laundering, fraud, or other illegal activities. The Senior Analyst will collaborate with internal departments as needed, report findings, and assist with investigations. Additionally, the role includes dispositioning of alerts generated from the Bank’s BSA/AML automated surveillance monitoring software as well as preparing detailed, timely and accurate reports for regulatory reporting.

Requirements

Responsibilities and Duties

• Individually, ensures BSA compliance by reading and being familiar with the BSA/AML program/policy; following all BSA/AML/OFAC policies and procedures; and completing all BSA/AML/OFAC related online courses.
• 314(a): Download report from FinCEN every 2 weeks and upload the report to Verafin. Review and clear any alerts that are generated from the upload to determine if a true match. Document files for support and suspect items. Ensure timely submission to FinCEN, when applicable.
• Customer Due Diligence (CDD) Completion: Ensure CDD forms are completed timely by the branch and updated as identified in Verafin Reports or by generated alerts. Review Beneficial Ownership (BO) forms for accuracy and information for CIP requirements.
• Enhanced Due Diligence (EDD)/High Risk Reviews: Conduct EDD/High Risk Reviews on a periodic basis. Review transaction history, supporting data, counterparties, signers and BO’s, pull CLEAR Reports, perform negative news and adverse media searches, and provide detailed in-depth written analysis. Changes in risk rating should be recommended to the BSA Officer.
• CTR & Cash Report Reviews: Cash reports and CTR Reports checked daily. Review of various types of transactions, individuals/entities, cash expectations, multiple daily cash transactions by same conductor to ensure transactions are correct and no suspicious activity identified. Ensure CTRs are prepared for timely filing and forwarded to the BSA/AML Manager.
• SARs: Begin any SAR investigation based on SAR Referrals from branches, derived from an alert, or daily reports. Prepare findings and report to BSA/AML Manager within 5 days of notification/detection. Once SAR determination has been made by the BSA/AML Manager or the SAR Committee, SARs are to be filed within 30 days and monitored for 90 days following filing, if deemed necessary then continuation SARs filed with 30 days for a total of 120 days.
• OFAC Reporting: Review and clear possible positive matches for wires, new customers, ACH Activity, and IAT ACH Activity when applicable sent to the BSA Department from branches and other departments.
• Alert Reviews: Check all monitoring systems as applicable (Verafin, Green Check, and Unit 21) for daily and monthly alerts. Review alerts for suspicious active and resolve with notes or create cases, and start investigations for possible SAR filings if applicable.
• Cannabis Banking Onboarding and Continuing Review: Review files to ensure licensing and other necessary documents in accordance with State Laws are obtained prior to onboarding, perform appropriate CDD/EDD as required, obtain required site inspections as necessary from the relationship manager, monitor and report activity, and complete SARs as necessary.
• Phase I/Phase II Exemptions: Review current exemptions annually, recommend customers for exemption to BSA Officer and prepare documentation.
• BSA/AML Employee Training: Identify training needs and opportunities, notifying Senior Management and obtaining approval, and coordinating training with various depts.
• Provides backup support to BSA Officer and BSA/AML Manager as needed
• All other tasks, responsibilities or duties, as directed by management.
  
  

Qualifications And Skills

• Bachelor’s Degree preferred and five (5) or more years of directly related BSA/AML experience in financial institution or equivalent combination of education and experience
• Able to work with little to no supervision and be fluent in decision making for Suspicious Activity recommendations.
• Certified Anti-Money Laundering Specialist (CAMS) and/or other BSA/AML related certifications preferred
• Understanding and familiarity with Cannabis Banking structure, licensing requirements, and overall due diligence preferred.
• Knowledge with digital assets/cryptocurrency preferred.
• Verafin software platform experience preferred
• The ability to shift priorities, budget time and maintain effectiveness in workflow; must be adept at performing two or more parallel assignments.
• Possess excellent organizational, analytical, and written/verbal communication skills, utilize critical thinking skills, and follow-up in a timely manner.
• Ability to build relationships using teamwork, problem identification, and problem solution skills
• Position located in Central Florida but willing to consider remote candidates with requisite experience.