Compliance Analyst

Job Description

Are you passionate about ensuring regulatory compliance and safeguarding financial institutions from illicit activities? Join our team as a BSA Specialist! In this critical role, you will be responsible for ensuring compliance with the Bank Secrecy Act (BSA), Office of Foreign Assets Control (OFAC), USA Patriot Act, and Anti-Money Laundering (AML) regulations. You will play a pivotal role by investigating and analyzing suspicious activity, preparing regulatory reports, and contributing to the bank's efforts in combating financial crimes.

Key Responsibilities

Monitoring Systems: Research, analyze, and review automated alerts to identify potentially suspicious AML/Countering the Financing of Terrorism (CTF) activity.

Alert Decisioning: Evaluate alerts to determine if they can be closed or escalated for further investigation, documenting findings accurately and thoroughly.

Investigations: Partner with internal teams to collect information, conduct investigations, and escalate cases when warranted.

Reporting: Prepare and file timely Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) as required by regulatory guidelines.

Customer Reviews: Compare anticipated customer activity to recorded activities and identify discrepancies or unusual patterns.

Regulatory Knowledge: Stay up to date on BSA/AML regulations, criminal schemes, risk typologies, and investigative techniques.

Communication: Collaborate with branch and department managers to gather and verify information pertinent to investigations.

Documentation: Maintain comprehensive records of all alert reviews and investigations in compliance with regulatory requirements.

Qualifications

Education/Experience: 2-3 years BSA Experience e.g., bachelor's degree in finance, accounting, or a related field

Knowledge: Strong understanding of BSA, USA Patriot Act, OFAC, FinCEN guidelines, and all related regulations.

Skills:

Excellent written and verbal communication skills.

Strong investigative and problem-solving skills.

Proficiency in MS Office (Word/Excel/PowerPoint) and banking software systems (e.g., FIS, Jack Henry, Verafin).

Abilities:

Demonstrated ability to prioritize tasks and meet deadlines.

Capability to work independently and collaboratively in a team setting.