American Savings Bank
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BSA Regulatory Analyst
at American Savings Bank
Primary Purpose of Job
Implements regulatory requirements of the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Customer Identification Program.
Major Job Accountabilities
- Evaluates risk criteria and identifies suspicious account activity. Determines if blocking or closing accounts is required, and whether criteria is satisfied for reporting to regulatory agencies within regulatory guidelines.
- Responsible for general oversight of the CTR program, which may include processing, inputting, and e-filing Currency Transaction Reports (CTR). Responsible for administering CTR Exemption Program, including filings and annual reviews. Makes determinations regarding blocking or closing accounts and reporting to regulators within regulatory deadlines.
- Reviews case transaction reports and applies decisioning with regard to disposition.
- Performs quality control reviews of regulatory filings and makes decisions as to revisions or modifications.
- Prepares data analytical reports relating to the Customer Identification, Customer Due Diligence, and Enhanced Due Diligence Programs. Annually updates and maintains the BSA risk assessment.
- Prepares a gap analysis review of anticipated vs actual activity and collected Customer Due Diligence information. Maintains and updates customer information, including information regarding the beneficial owner(s) of legal entity customers.
- Conducts and develops BSA/AML and other compliance training.
- Coordinates, maintains and develops enhancements to various components of the Bank Secrecy Act program including but not limited to Suspicious Activity Reports, Currency Transaction Reports, Currency Transaction Report Exemptions, Customer Information Program, Beneficial Ownership, OFAC, 314(a), 314(b) and other requests.
- Provides advice and guidance to lines of business regarding compliance with applicable banking laws, regulations, regulatory policies & procedures.
Bachelor's Degree in Business or related field from an accredited university or college preferred.
Minimum Experience Required
Three (3) to five (5) years of similar or related experience in:
- Investigating complex BSA/AML suspicious activity cases
- Performing reviews for customers deemed to be high risk
- Making accurate SAR filing determinations
- Independently complete: CTR cases, Monetary Instrument Logs, OFAC reviews and approvals, 314(a) and (b) requests
- Performing analysis of information/data to interpret and apply to business decisions
- Writing and presenting in a manner that effectively communicates with all levels of the organization
Required Skills or Training
- Demonstrated organizational skills and flexibility to adapt to rapidly changing priorities
- Effective communicator, demonstrated through listening, writing, and oral presentations to broad constituency groups that may include management, internal auditors, external regulators, etc.
- Demonstrated ability to work independently, applying knowledge of policies & procedures to deliver results