Job Description
Primary Purpose: This position is a part of BSA/AML Department, a team that is integral to TowneBank’s efforts in the fight against money laundering and terrorist financing. The BSA/AML Department assists the Bank’s businesses to design effective processes through the development of consistent and cohesive policies and programs to ensure compliance with all applicable anti-money laundering and Office of Foreign Asset Control (OFAC) regulations. The BSA EDD/High Risk Analyst works within the BSA/AML Department to review high risk customers and acts as points of contact for the Bank.
The EDD/High Risk Analyst’s primary objectives are to conduct periodic reviews of customers (individual and business) rated high risk by the AML scoring model, and to collect additional information for potentially high- risk customers at onboarding. Tasks include documenting reviews by preparing well-written narratives, obtaining documentation to support the results of investigations, and working with branches prior to onboarding a potential high-risk member.
Essential Responsibilities: - Conduct comprehensive customer investigations using internal bank systems, open- source searches, third-party research tools, and transaction history analysis to develop strong understanding of the purpose of the relationship and identify reputational risk
- Work with branch personnel to obtain additional information and documentation for potentially high-risk customers at onboarding, such as Money Service Businesses, Third-Party Payment Processes, Privately Owned ATMs, and Politically Exposed Persons
- Participate in the MSS schools to provide an overview on High- Risk customer monitoring
- Participate with ongoing refresher training to BSA personnel regarding High-Risk customer reviews and documentation
- Escalate potential high-risk members to reporting Manager
- Adheres to applicable federal laws, rules, and regulations including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA)
- Other duties as assigned
Minimum Required Skills & Competencies: - 3-5 years banking experience and knowledge of branch and/or loan operations
- 2-3 years of BSA/AML case investigations experience
- Working knowledge of federal requirements under the Bank Secrecy Act requirements including Customer Identification Program, USA PATRIOT Act and Office of Foreign Assets Control (OFAC) regulations, and be familiar with FFIEC BSA/AML Manual guidelines
- Ability to comply with regulatory deadlines
- Knowledge of bank products and services
- Ability to develop strong relationships with peers, and ability to interact with multiple levels of management, internal and external auditors/examiners
- Ability to handle confidential customer information
- Ability to work independently and within a team setting
- Strong written and verbal communication skills
- Detail oriented with good organization skills
- Proficient in the use of Banking software, Microsoft Office Suite, core systems, imaging systems and AML/BSA Software
- Ability to follow-up with internal and external outreach for items requiring additional information
- Maintain knowledge on BSA/AML/OFAC news and events as well as regulatory updates
Desired Skills & Competencies: - Bachelor’s degree in related field such as business management, criminal justice, accounting, or economics
- Participant of a BSA/AML Certification program and current certification (or in process)
- Law enforcement investigation experience, such as financial crimes
- Experience in a financial institution with asset size $10B and over
Physical Requirements: - Express or exchange ideas by means of the spoken word via email and verbally.
- Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.
- Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.
- Not substantially exposed to adverse environmental conditions.
- The physical demands described here are representative of those that must be met by an employee to successfully perform the essential responsibilities of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential responsibilities
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