BSA Analyst

Department: Risk

Reports to: BSA Officer

FSLA: Non-Exempt

Last Modified: 12.19.24

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:

• Four or more years of experience in a financial institution, preferably in the area of BSA/AML/CFT or compliance.
• Excellent organizational, technical, analytical, problem solving and decision-making skills and a highly developed ability to pay close attention to detail.
• Outstanding verbal and written communication skills.
• Ability to manage and prioritize multiple tasks in a fast-paced environment.

Physical Requirements and Working Conditions:

• Prolonged periods working at a computer.
• Handling of light materials and supplies (up to 15 pounds) on occasion.
• Workspaces are generally comfortable and pleasant.