What are the responsibilities and job description for the BSA Analyst position at Maine Community Bank?
Job Type
Full-time
Description
Department : Risk
Reports to : BSA Officer
FSLA : Non-Exempt
Last Modified : 1 2.19.24
Job Summary :
The BSA Analyst will work to protect the safety and soundness of the Bank from a BSA / AML / CFT and OFAC perspective. The BSA Analyst assists the BSA Officer with developing, implementing, and administering all aspects of the BSA / AML / CFT and OFAC programs, while also managing the day-to-day BSA and OFAC functions. Participates in the development of relationships within the communities the Bank serves.
Essential Functions :
- Maintain a working knowledge of the Bank Secrecy Act and all related anti-money laundering / CFT, USA Patriot Act and OFAC regulations.
- Ensure the Bank complies with all applicable Federal & State laws and regulations along with the Bank's policies & procedures as related to position responsibilities.
- Monitor alerts and case reviews. Analyzes various reports and transaction data to identify trends, unusual or suspicious activity, and / or significant changes in account activity.
- Prepare and review Suspicious Activity Reports (SARs). Maintains accurate supporting documentation of all SARs filed or investigations where SARs were not file.
- Review and prepare Currency Transaction Reports (CTRs) to ensure completeness, accuracy, timeliness, and compliance to FinCEN changes.
- Complete annual (or as needed) EDD (Enhanced Due Diligence) reviews of the Bank's high-risk customers. Perform research, analysis and investigations of the entire customer relationship, documenting results for the review.
- Perform 314(a) reviews and research of OFAC matches; assists with escalated potential OFAC matches and potential 314a matches.
- Monitor 314b requests.
- Monitor other items to ensure the Bank complies with all AML / BSA / CFT requirements.
- Maintain strong knowledge of Bank operations and products & services as they pertain to the risk profile of the Bank.
- Assist in the development, revision, or review of BSA / AML / CFT and OFAC related Bank policies, procedures, disclosures, notices, and forms to comply with legislative and regulatory changes or new requirements.
- Assist in the preparation of the OFAC and BSA / AML / CFT Risk Assessments and required updates.
- Act as in-house expert of BSA and core software, including identifying system issues (and internal testing), coordinating periodic software upgrades, and researching updates and improvements provided by BSA software vendor (Verafin).
- Assist in the development, coordination, and facilitation of AML / BSA / CFT / OFAC training programs to educate all Bank staff / departments.
- Attend periodic community events in support of the Bank's mission and purpose.
- Performs other duties as assigned.
Education, Skills, and Experience Required :
Physical Requirements and Working Conditions :
