What are the responsibilities and job description for the BSA Analyst I position at Trustco Bank?
Job Title: BSA Analyst I
Reports to: Vice President of BSA
FLSA Status: Non-Exempt
Salary Grade: NE15
Supervisory Responsibility: No
SUMMARY:
The BSA Analyst position is responsible for ensuring compliance with the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) policies and procedures and the applicable federal regulations to protect the company from being used as a conduit for illegal activity. The BSA/AML program includes currency transaction reports (CTR), Office of Foreign Assets Control (OFAC), Suspicious Activity Reports (SAR), Customer Identification Program (CIP) and Customer Due Diligence (CDD).
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned by supervisor.
- Researches, analyzes and investigates alerts generated by transaction monitoring reports for money laundering; BSA violations, terrorist financing and other financial crimes then makes a recommendation as to whether or not a SAR should be completed.
- Performs 90 days SAR follow up reviews; makes a recommendation as to whether or not a continuing activity SAR should be filed.
- Tracks CTR filings based on monitoring reports and ensures CTRs are sent within the regulatory deadline of 15 days.
- Monitors customers on the CTR exempt list on an annual basis.
- Completes enhanced due diligence (EDD) reviews including research, gathering documents, drawing conclusions, composing a narrative, and determining the risk rating and follow up needed.
- Monitors potential OFAC matches, acts as a dual control for OFAC processing and provide a knowledgeable resource for staff of other departments.
- Examines branch administration, retail lending, and commercial loans to ensure CIP requirements are met and that they have been properly entered into the banking system.
- Continues to building proficiency of BSA techniques and AML principles by attending internal training, external training, and completion of continuing education courses.
REQUIRED EDUCATION/EXPERIENCE:
- A bachelor’s degree in a business-related field and/or one years’ experience or equivalent level of education and experience.
- Effective verbal and written communication skills.
- Well organized with the ability to manage multiple tasks and work to time sensitive deadlines.
- Ability to work well independently and in groups.
- Working knowledge with Microsoft Office Programs; Excel and Word.
PREFERRED EDUCATION/EXPERIENCE:
- CAMS Certification
- Working knowledge of FCRM Software
POSITION TYPE/EXPECTED HOURS:
This is a full-time position. Office hours Monday – Friday 8:30am – 5:00pm. Occasional evening and weekend work may be required as job duties demand.
TRAVEL:
No travel required.
LANGUAGE SKILLS:
Must be able to speak, read, write, and understand the primary language(s) used in the workplace; bilingual skills a plus. Ability to read, analyze, and interpret general business information, including but not limited to company policies and procedures. Ability to effectively present information and respond to questions from groups of managers and customers.
PHYSICAL DEMANDS:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- This is largely sedentary role, requiring use of typical office equipment such as a computer, laptop and phone.
- Ability to communicate both in person and/or by telephone.
WORK ENVIRONMENT:
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
For the most part, ambient room temperatures, lighting and traditional equipment as found in a typical office / retail environment.
OTHER DUTIES:
Please note this job description is not designed to cover or contain a comprehensive listing of all activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.
AFFIRMATIVE ACTION PLAN/EQUAL EMPLOYMENT OPPORTUNITY STATEMENT:
Trustco Bank is an equal opportunity/affirmative action employer. It is the policy of Trustco Bank to take affirmative action in affording equal employment opportunities to all qualified persons without regard to race, color, religion, sex, national origin, age, marital status, genetic information, disability or protected veteran status.
This includes, but is not limited to, the following:
Hiring, placement, upgrading, transfer, demotion or promotion- Recruitment, advertising or solicitation for employment
- Treatment during employment
- Rates of pay or other forms of compensation
- Selection for training, including apprenticeship
- Layoff or termination
It is the policy of Trustco Bank to cooperate to the fullest extent with the applicable regulations of the Civil Rights Act and any legislation on Equal Employment Opportunity.
