BSA Quality Control Analyst

Summary: The BSA Quality Control Analyst plays a pivotal role within the BSA Compliance team, ensuring the effectiveness and integrity of the Bank Secrecy Act (BSA) Compliance program. This position requires in-depth knowledge of the USA PATRIOT Act, BSA, Anti-Money Laundering (AML) regulations, Know Your Customer (KYC) requirements, and Office of Foreign Assets Control (OFAC) regulations. The Analyst is responsible for reviewing and scoring suspicious activity alerts, BSA cases, investigations, regulatory filings (e.g., Suspicious Activity Reports [SARs] and Currency Transaction Reports [CTRs]), OFAC processes, and Enhanced Due Diligence (EDD) reviews. Additional responsibilities include maintaining quality control scorecards, identifying Key Risk Indicators (KRIs), and providing actionable insights to improve compliance effectiveness.

Job Responsibilities:

• Review and Scoring
• Conduct in-depth reviews and scoring of suspicious activity alerts to validate findings, assess potential risks, and ensure timely remediation.
• Analyze BSA cases and investigations to confirm regulatory compliance and adherence to internal protocols.
• Regulatory Filings
• Review and evaluate SARs and CTRs to ensure accuracy, completeness, and compliance with regulatory standards.
• Oversee the timely submission of all required regulatory filings.
• OFAC Compliance
• Monitor and review OFAC processes to confirm adherence to sanctions regulations.
• Investigate potential OFAC matches, documenting resolution actions and ensuring compliance with applicable rules.
• Enhanced Due Diligence (EDD)
• Perform periodic reviews and scoring of high-risk customer accounts to assess risk levels and recommend risk mitigation or de-risking strategies.
• Document findings and communicate recommendations effectively to relevant stakeholders.
• Quality Control Metrics and Scorecards
• Develop and maintain comprehensive scorecards to track and analyze quality control metrics related to BSA compliance activities.
• Identify trends and areas for improvement based on scorecard data to enhance overall compliance effectiveness.
• Key Risk Indicators (KRIs)
• Identify, develop, and report KRIs to monitor compliance performance and operational risks.
• Generate risk reports that highlight emerging risks, potential compliance issues, and control effectiveness.
• Provide actionable insights to management to support continuous process improvement.
• Collaboration and Training
• Partner with the BSA Officer and Compliance team to address quality control findings and enhance program effectiveness.
• Prepare and present detailed reports, dashboards, and presentations on quality control metrics and compliance activities for senior management.
• Design and deliver compliance education and training programs for Bank employees, including metrics to evaluate training effectiveness and supplemental sessions as needed.
• Other Responsibilities
• Perform other responsibilities as assigned to support the BSA Compliance team and organizational goals.
  
  

Job Requirements:

• Bachelor’s degree in Finance, Business Administration, Criminal Justice, or a related field.
• Minimum of 5 years of experience in BSA/AML compliance, OFAC regulations, and related quality control or audit functions.
• Proven expertise in reviewing suspicious activity alerts, conducting investigations, quality control standards, and ensuring regulatory filing accuracy.
• Strong analytical, organizational, and problem-solving skills with exceptional attention to detail.
• Ability to work independently and collaboratively in a fast-paced, deadline-driven environment.
• Professional certification in Anti-Money Laundering or BSA compliance (e.g., CAMS, CAFP).
• Proven skills with Microsoft Office suite, advanced proficiency in Excel.
• Experience with compliance software and transaction monitoring systems, such as Verafin.
• Advanced understanding of regulatory trends and emerging issues in BSA/AML and OFAC compliance.
  
  

Columbia Bank and its affiliates is an Equal Opportunity Employer