The BSA / OFAC Analyst is responsible for assisting the Chief Compliance Officer and the Deputy Chief Compliance Officer in executing compliance functions of the OFAC Program, FinCEN reporting, and the Bank's BSA/AML & OFAC systems.
Duties and Responsibilities:
Knowledge of BSA, USA Patriot Act, and OFAC compliance requirements.
Review any potential matches to the different monitoring lists (including OFAC) used by the Agency and clear the potential match.
Review and analyze the reports and alerts generated by the monitoring system.
Review and analyze customer's account activity and notify of any changes.
Initiate investigations, request additional documentation, and gather independent information.
Provide recommendations for Suspicious Activity Report (SAR) filing and prepare SAR documentation as necessary
Perform case investigations using various sources, systems, and reports for unusual activity detection.
Maintain records of all required BSA documentation within regulatory and Bank retention guidelines.
Assist with the preparation of regulatory examination materials as needed.
Competencies:
In order to perform the job successfully, an individual should demonstrate the following competencies:
Strong investigative and analytical skills. Ability to research and make appropriate decisions regarding complex cases.
Well-organized and working knowledge of Word and Excel (including pivot tables).
Demonstrates consistent attention to detail in the review of reports, account activity, and documentation to ensure the accuracy of the monitoring process.
Technical knowledge and analytical ability to manage monitoring systems and assist in validation, tuning, and optimization.
Able to work independently and meet deadlines.
Experience with FIS, WorldCheck or other AML monitoring tools desired.
Required Education and Experience:
Bachelor's degree from an accredited four-year college or university. 2+ Years of AML or OFAC compliance experience in the financial industry. General understanding of AML principles, specifically the laws, regulations, and guidance promulgated under the BSA, USA PATRIOT Act and OFAC
Additional Qualifications:
CAMS or FIBA Certification is preferred but not required.
Language/Communication Skills:
Fluent in reading and speaking Spanish is a must.
Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to effectively present information and respond to questions from managers.