What are the responsibilities and job description for the BSA Analyst I - DFW position at Veritex Team?
Job Summary:
The BSA Analyst I will report to the VP BSA Operations Manager. Responsibilities will include, but not limited to, analyzing alerts generated for possible unusual or suspicious activity in Verafin, the Bank’s Transaction Monitoring Systems (TMS), conducting BSA/AML investigations, preparing Suspicious Activity Report (SAR) recommendations and filings, Enhanced Due Diligence (EDD) reviews, and monitoring for transactional suspicious activity.
Responsibilities and Duties:
Composing alert acknowledgements with a well written narrative and making recommendations to escalate the alert to a case for additional due diligence for a second review for suspicious activity.
Assist with the alert workload and monitoring for patterns of suspicious activity.
Assist with BSA/AML investigations and Enhanced Due Diligence (EDD) reviews when necessary.
Prepare Suspicious Activity Reports (SAR) recommendations for SARs that go to the BSA/AML/Fraud Governance Committee. In addition, may assist in filing SARs when necessary.
Ensure proper identification and adherence to the Bank’s BSA/AML Program including, but not limited to; CIP, CDD/EDD/BO, OFAC and record keeping and retention requirements.
Respond to BSA/AML alerts and cases in Verafin and make appropriate decisions on behalf of the Bank.
Comfortable communicating and sending account officer email correspondence to front line teams to gather additional information regarding customer transactional behavior.
Perform Custom Behavior reviews for high volume transaction processing clients, recommending new behavior volumes, if warranted.
Assist with 314(b) alerts, inquiries, and investigations, when necessary.
Assist with Legal Request reviews (Grand Jury Subpoena and Law Enforcement requests) when necessary.
Assist BSA leadership with ad hoc deliverables.
Provide assistance as requested by the BSA/AML Director in other daily responsibilities of managing the Bank's BSA/AML Compliance Program.
Participate in ongoing training to maintain current knowledge of BSA/AML and OFAC regulatory requirements.
Attend BSA training annually, and as needed, based on revisions to the BSA requirements.
Complies with federal and state regulations and all established bank policies and procedures.
Integrity, discretion, and respect for confidential information are absolutely essential.
Job Skills and Qualifications:
Ability to work independently and effectively and as part of a team and organize tasks efficiently.
Knowledge of and experience with BSA/AML regulations and sanctions laws.
Knowledge of Word and Excel including functions such as formula-based data manipulation, advanced table lookups, and pivot tables.
Ability to apply technical knowledge, such as analytical/judgment skills and critical thinking, with minimal guidance.
Strong analytical, prioritization, and problem-solving skills with proven ability to turn findings into executable plans.
Operate effectively under pressure and ability to meet deadlines and multitask.
Ability to learn new concepts quickly and adapt to shifting requirements and priorities.
Excellent communication, facilitation, and presentation skills, ability to communicate clearly and succinctly.
Bachelor’s degree or equivalent work experience in related field.
Skills in Word and Excel.
Preferred experience with Jack Henry Associates (JHA) Silverlake.
Preferred experience with Verafin transaction monitoring systems (TMS).
CAMS certified is preferred, but not required.
CAMS certified, Verafin, JHA-SilverLake, BSA/AML Experience a STRONG plus.
