BSA-Compliance Analyst II

Description

Overview

Under the direction of the Audit and Compliance Manager, the BSA-Compliance Analyst is responsible for ensuring that the Credit Union is compliant with the Anti-Money Laundering (AML) through regulations set forth by the Bank Secrecy Act (BSA) and Office Foreign Asset Control (OFAC). This role requires a thorough understanding of legal and regulatory frameworks, as well as the ability to analyze and monitor financial transactions for suspicious activities.

• Monitor and analyze financial transactions using AML software to detect suspicious activity and potential money laundering in order to mitigate or escalate the case for SAR evaluation.
• Prepare, verify, and submit Currency Transaction Reports (CTRs) and ensure acceptance by FinCEN.
• Prepare and submit Suspicious Activity Reports (SARs) and ensure acceptance by FinCEN.
• Document analysis and recommendations for CTR exemptions per Bank Secrecy Act (BSA) regulations.
• Submit and respond to 314(b) FI collaboration through the AML system.
• Outboard calls to internal and external members to support case investigations.
• Participate in reviewing the AML functionality to improve system alert configuration by identifying patterns and trends related to BSA/AML.
• Ensure compliance with BSA, AML, and other relevant regulations.
• Initiate member account actions and cases to minimize member and/or Credit Union losses.
• Maintain and track Customer Due Diligence (CDD) questionnaires and Enhanced Due Diligence (EDD) reviews, ensuring timely collection and verification to meet regulatory requirements.
• Assist with BSA/AML risk assessments and policy/procedure review.
• Ensure compliance with Office of Foreign Asset Control (OFAC) regulation.
• Coordinate with internal departments and external agencies to include federal and/or local law enforcement and ensure compliance with and resolve issues.
• Maintain up-to-date knowledge of regulatory changes and industry best practices.
• Completes other projects as assigned.

• Communication
  
  Skills:
  
  Excellent written and verbal communication skills to prepare reports, interact with stakeholders, and engage members in complex or sensitive discussions to clarify unusual activity.
• Analytical
  
  Skills:
  
  Ability to analyze complex financial data and identify patterns of suspicious activity.
• Attention to Detail:
  Strong focus on accuracy and thoroughness in all tasks.
• Problem-Solving
  
  Skills:
  
  Ability to think critically and develop effective solutions to BSA/OFAC related functions and cases.
• Regulatory Knowledge:
  In-depth understanding of BSA, AML, OFAC and other relevant regulations.
• Customer service:
  Exceptional customer service skills with a focus on user satisfaction and experience.
• Time Management:
  Efficient in managing multiple tasks and meeting deadlines under pressure and able to work with minimal supervision.
• Team
  
  Collaboration:
  
  Ability to work effectively with various departments and external agencies.
• Technical Proficiency:
  Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint, Teams, Outlook).

• Prolonged periods sitting at a desk and working on a computer.
• Occasional lifting of office supplies, up to 15 pounds.

• Six years of progressive experience in all aspect of BSA/AML compliance, advanced knowledge of AML monitoring processes and system (preferably Verafin).
• Working knowledge of core banking system (Symitar). Alkami online banking and Mantl account opening system preferred.
• Ongoing commitment to regulatory and professional development.
• Certification in CAMS or CBSAP (or interest in pursuing).
• Strong analytical and problem-solving abilities are essential, with a proven track record of conducting thorough investigations and preparing detailed reports.
• Excellent verbal and written communication skills are required to effectively interact with internal teams and external stakeholders.

Equal Opportunity Employer. This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.