Sr. BSA Analyst
San Diego, CA | Direct Hire
Responsible for the day-to-day operations of the Bank Secrecy Act/Anti-Money Laundering Compliance Program. Ensures the program functions at a high level of compliance with the BSA/AML related laws and regulations, internal policies and Federal regulatory expectations. The Sr. Bank Secrecy Act Analyst is required to be fully knowledgeable and skilled in all areas of BSA/AML compliance. The Sr. BSA Analyst will collaborate with the VP Compliance in developing, monitoring and implementing an effective institution-wide BSA/AML program. Serves as the OFAC Officer.
- BSA/AML/OFAC Compliance Program
- Coordinates and oversees an effective Bank Secrecy Act/Anti-Money Laundering/OFAC Compliance Program that is in compliance with current industry best practices, regulatory guidance and requirements.
- Monitors regulatory changes to recommend enhancements to the BSA/AML/OFAC/USA Patriot Act monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity.
- Under management’s direction, provides functional guidance over the daily activities of the Bank Secrecy Act Specialist. Provides training and direction to Compliance Department staff on BSA/AML related subjects.
- In collaboration with the VP Compliance, establishes and maintains an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments, and reviews and analyzes unusual account activity.
- Establishes and maintains appropriate SAR investigation, reviews and reports processes that promote consistent decisions; adequate investigation and research; and completes detailed documentation.
- Conducts BSA/AML/OFAC risk assessments at least annually with consideration to products, services, members, and geographies that may present BSA/AML/OFAC related risks.
- Acts as a liaison/contact for examinations and internal and external independent reviews or audits of the BSA/AML/OFAC compliance programs. With the assistance of the VP Compliance responds to exam and audit concerns and oversees corrective action of all related compliance deficiencies or violations.
- Updates and revises BSA/AML/OFAC policies and procedures and prepares monthly BSA statistics for the Board of Directors.
- Administers BSA/AML/OFAC related training programs for directors, management, and employees and provides BSA guidance and coaching to employees.
- Maintains BSA/AML related monitoring and reporting systems. Serves as subject matter expert in all systems related to BSA/AML activities.
- Monitors and analyzes developing industry and compliance trends and changes to laws and regulations pertaining to BSA/AML/OFAC/USA Patriot Act. Advises stakeholders of emerging risks, new or amended laws, regulations, or agency guidance and recommends and implements changes and controls to mitigate those risks.
- BSA Monitoring and Filing
- Ensures all required regulatory reporting is conducted in a timely, accurate, and compliant manner.
- Reviews for accuracy and files Currency Transaction Reports (CTRs).
- Ensures staff completes required CTRs by comparing system generated reports to CTRs submitted. Coordinates completion of missing reports with staff and management.
- Reviews watch lists and watch list alerts. Analyzes possible matches and takes appropriate follow-up actions.
- Reviews anti-money laundering alerts for suspicious activity. Performs additional research to determine if activity is suspicious.
- Composes, reviews, and files Suspicious Activity Reports (SARs) and conducts follow-up reviews to determine if subsequent SAR filings are required.
- Investigates staff reporting of possible suspicious behavior and files SARs as necessary.
- Reviews 314(a) and 314(b) procedures and reporting
- A minimum of three years of prior financial institution BSA compliance experience in developing and implementing BSA/AML/CIP/OFAC policies, programs and procedures.
- General knowledge and understanding of bank deposit operations, lending activities, and other related consumer banking and compliance functions.
- Strong interpersonal, communication (written and verbal), and organizational skills with the ability to work independently, as well as, collaboratively within a team environment.
- Ability to interact effectively with all levels of management, legal counsel, law enforcement, regulators and examiners while maintaining strict confidentiality.
- Strong decision making, analytical and investigative abilities with attention to detail and accuracy.
- Microsoft Office Suite (including: PowerPoint and Project), Internet, and Symitar Publications.
- Bachelor’s degree or equivalent is required. Two years of equivalent experience can substitute for every one year of education. BSA/AML Certification is required.
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