Senior BSA Associate
This position reports to BSA Manager. Performs day-to-day tasks to ensure compliance with Office of Foreign Asset Control (OFAC), Bank Secrecy Act (BSA), and Anti-Money Laundering (AML) Regulations. Assists the BSA Manager with administration the OFAC, BSA/AML programs and related procedures in accordance with policies, procedures and applicable federal regulations. Conducts case investigations, manages internal/external referrals and files suspicious activity reports as appropriate. Assists in training new associates and performing quality control reviews.
Minimum of two years of direct BSA and OFAC experience at a financial institution. Equivalent combination of education and experience may be considered.
Advanced knowledge of financial services and products as well as a working knowledge of BSA, AML and OFAC regulatory requirements and proven research skills.
Proficient in Microsoft Office programs and possess strong analytical skills. Must have demonstrated ability to function in a variety of programs and systems as part of job responsibilities.
Experience using independent judgment and discretion in complex situations while maintaining a high degree of confidentiality.
Proven ability to independently organize work, balancing multiple priorities and managing a variety of projects in a high-volume work environment with strong attention to detail.
Excellent verbal and written communication skills, problem solving skills, and demonstrated ability to work across various departments and levels in an organization.
Stays current with changes in BSA regulations and assists the BSA Manager in developing revisions to BSA Program, including creating or modifying policies, procedures, or program documents.
Serves as a subject matter expert and information source for the BSA team. Assists in training and mentoring less experienced staff and new hires.
Completes currency transaction reporting (CTR) as well as Suspicious Activity Report (SAR) investigations and SAR renewals.
Works with the BSA Manager to complete QR of work completed by BSA Associates; identifies training needs and performance improvements for the team. Provides feedback to management on various training needs/desires of the BSA Team.
Uses Core member data platform, BSA/AML system, and other data sources, complete and document reviews and clearly disposition alerts and cases accordingly.
Identifies and designates high-risk accounts based on information received from other sources and submits referral to the EDD Analyst.
Assists BSA Manager with training new associates on BSA/AML functions.
In coordination with the EDD team, performs OFAC, CIP, CDD and EDD reviews as necessary.
Assist with reviews of member and transaction records for compliance with FinCEN 314a and 314b requests.
Assists BSA Manager with special projects, reports, training and/or presentations to communicate program updates.
Attends annual and ad hoc BSA/AML training as necessary.