Job Description
GENERAL SUMMARY:
The Bank Secrecy Act (BSA) Anti-Money Laundering (AML) Analyst performs, under the supervision of the BSA Officer, various quality control reviews and monitoring in the areas of the Bank Secrecy Act, USA Patriot Act, Anti-Money laundering, OFAC and Customer Identification Program Compliance using industry standard and regulatory guidelines to ensure the Credit Union's compliance efforts are maintained and performed daily. The BSA/AML Analyst works closely with other departments such as Retail Operations, Member Service Centers, and Business Services. The BSA/AML Analyst duties may include, but are not limited to, training staff, monitoring all BSA related activities to ensure optimum compliance with all appropriate state and federal laws and regulations.
NATURE AND SCOPE OF POSITION:
This position works with a minimal amount of supervision and direction and is authorized to take reasonable actions necessary to carry out the assigned responsibilities of the position, provided that such action is consistent with cost-effective practices and is consistent with the policy and procedures of Kinecta Federal Credit Union.
SUPERVISORY RESPONSIBILITIES:
The BSA/AML Analyst has no direct supervisory responsibilities, however, may lead projects and other assignments as assigned by the BSA Officer.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Review Office of Foreign Assets Control (OFAC) alerts and possible matches with individuals or entities on the OFAC list and decision or respond accordingly in a timely manner to the waiting department.
Review of BSA/AML alerts for potential SAR filing determination.
Completes timely reports as related to BSA, including but not limited to Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs).
Conducts internal audit of new ITIN memberships to determine if CIP and OFAC requirements are met.
Early detection, prevention, and minimization of future losses through review of suspect transactions as generated by the Credit Union's transaction monitoring system, as well as review of BSA/AML activity reported by other departments/personnel within the Credit Union.
Serves as a resource for branch, and other personnel by providing general guidance, reoccurring support, feedback, timely consultation on alternatives, and follow up on results of case conclusions.
Identifies and recommends changes, new procedures, and techniques to eliminate potential weaknesses in policies, practices and procedures or operations as they relate to BSA.
Assists in the delivery of ongoing training that incorporates a review of current developments and changes to the BSA/AML, OFAC, and FinCEN regulations and BSA related processes, such as CIP, CTRs, and SARs.
Reports all potential and asserted BSA violations to the BSA Officer.
Adheres to all compliance programs, including but not limited to, completion of all required and assigned training modules by established due dates.
Remains current and complies with all rules, regulations, and laws as they apply to BSA, OFAC, USA Patriot Act and CIP.
Attends meetings as directed to maintain a current knowledge of Credit Union's status and trends.
Attends required classes and seminars to maintain current knowledge of all BSA and Business Account related regulations.
Adheres to all compliance programs, including but not limited to, completion of all required and assigned training modules by established due dates.
Backup to the department staff when necessary.
NON-ESSENTIAL DUTIES AND RESPONSIBILITIES:
Performs other duties including special projects as assigned.
MINIMUM QUALIFICATIONS
Knowledge, Skills and Abilities: Knowledge of all BSA, AML/CIP/OFAC and USA Patriot Act regulations.
Excellent analytical, problem-solving, and organizational aptitude.
Excellent verbal and written communication skills.
Excellent interpersonal skills.
Excellent computer skills including proficiency in Microsoft Office.
Ability to deal professionally with clients, interdepartmental and external representatives.
Ability to maintain client confidentiality.
Education, Training and Experience:
Potential candidates for this position must meet the following requirements: Minimum three years' experience in the Bank Secrecy Act compliance preferably in a lead capacity.
Bachelor's degree or related experience.
Certified Anti-Money Laundering Specialist (CAMS) or similar certificationpreferred
One year of relevant professional-level work experience may be substituted for one year of required education.
WORKING CONDITIONS: The working environment is generally favorable. Lighting and temperature are adequate, and there are no hazardous or unpleasant conditions caused by noise, dust, etc.
The job may require flexibility with regards to scheduling days, hours, and work location, depending on business needs.
The job is typically sedentary but may require standing and walking up to 35% of the work time to transfer files, ask questions, and related activities.
Required to travel to work sites or other sites for events.
PHYSICAL ABILITIES, MENTAL DEMANDS, AND WORK ENVIRONMENT
Must be able to exercise sound judgment, effectively plan and be well organized, have excellent oral and written communications skills, work well under changing timelines, take the initiative and be flexible and cooperative. Accuracy, timeliness and maintaining confidentiality related to member, employee information and company records is required.
While performing the job duties of this position, the employee is regularly required to sit; talk or hear in person and by telephone; use hands to operate standard office equipment; reach with hands and arms; lift minimum 10 lbs.
The employee is frequently required to walk and stand. Vision abilities required by this job include close vision and the ability to adjust focus to read and operate office equipment, as necessary. The employee works under typical office conditions and noise levels.
Disclaimer:
The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. Kinecta FCU
Job Tags
Work experience placement, Flexible hours,