What are the responsibilities and job description for the BSA Analyst II position at Commonwealth Business B?
POSITION OVERVIEW
The BSA Analyst II is responsible for day-to-day implementation of Bank’s BSA review, investigation, account identification, analyzing and reporting any activity believed to be associated with unusual and suspicious account activity such as potential structuring, money laundering or terrorist financing to ensure the Bank is in compliance with the Bank Secrecy Act and USA Patriot Act. In addition to reporting Suspicious Activity Reports in a timely and accurate manner, the BSA Analyst II will also assist in OFAC alert clearing and serve as a backup for Currency Transaction Report filing. This role is a part of the SAR Team, which is led by a SAR Team Lead who reports to the BSA Manager.
POSITION RESPONSIBILITIES
- Comprehensive investigations and analysis against account activities to detect red flags relating to money laundering, tax evading, fraud, terrorist financing and additional financial crimes to prevent and mitigate risks posed to financial institution.
- Perform investigation in response to internal transaction referrals related to unusual activities and interact with bank personnel as needed on related issues.
- Conduct analytical reviews against customers and transactions to identify trends and possible suspicious activity and initiate filing of a suspicious activity report.
- Analyzes transactions to determine if they are suspicious in nature and take appropriate action and maintain proper documentation.
- Report in accordance with regulatory guidelines, track time frames and ensures that all deadlines are met as required by law, and record keeping requirements.
- Review account-related legal documents.
- Provide backup and support for OFAC inquires.
- Provide backup and support for the preparation and filing of Currency Transaction Reports (CTRs), as necessary.
- Fully complies with all Bank policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, USA PATRIOT Act, Code of Conduct, and etc.).
- Complete all required training to keep banking knowledge current.
- Providing support to their supervisor or manager on special projects and assignments.
SKILLS / QUALIFICATIONS
- Minimum of 4-year experience in BSA compliance or closely related functions.
- Maintain high standards of confidentiality and security.
- Must possess good computer, written and oral communication skills.
- Well-organized, analytical and capable of performing multiple tasks.
- Ability to prioritize and use sound judgement.
EDUCATION / EXPERIENCE
- Bachelor’s Degree in related fields of business or financing or equivalent experience is preferred.
- CAMS or CFE certifications preferred but not required.
