Job detailsJob TypeFull-timeFull Job DescriptionPRIMARY PURPOSE:
The BSA-AML Quality Control Analyst performs quality control audits of all BSA functions. This position ensures practices align with operating procedures, industry standards and regulatory compliance, analyzes data and documentation to identify process exceptions, and assists with ensuring that BSA processes and procedures comply with bank policies and appropriate governing laws and regulations related to BSA and AML processing requirements.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
1. Assist in the development, implementation, administration of the Bank’s BSA/AML/OFAC compliance.
2. Stay abreast of and analyze developing industry and compliance trends, scams or schemes, and changes to laws and regulations pertaining to BSA/AML/OFAC/USA Patriot Act.
3. Advise manager of emerging risks, new or amended laws, regulations, or agency guidance and recommend and implement changes and controls to mitigate those risks.
4. The Analyst is required to be fully knowledgeable and skilled in all areas of BSA/AML Compliance and be able to independently recognize, develop, and implement cost effective compliance related solutions for the BSA/AML program.
5. Communicate with all departments and Bank staff regarding BSA/AML/OFAC issues.
6. Conducts QC on all aspects of the Bank’s regulatory reporting functions including Currency Transaction Reports [CTR], Suspicious Activity Reports [SAR], Customer Due Diligence and Enhanced Due Diligence processes
7. Coach BSA Fraud Analysts, BSA CDD/EDD Analyst and BSA Associates as recommended by the Deputy BSA Officer.
8. Track performance and development of department through training, coaching, and regular evaluations and provide written results for management review.
9. Conduct QC of Verafin alerts and reviews to ensure that the appropriate decisions/ recommendations have been made according to departmental standards and that the appropriate supporting documentation is obtained. Confirms that acknowledge/close decisions made are appropriately supported according to departmental standards.
10. Conducts QC of investigative file documents for AML Case Investigations and reviews to ensure that the appropriate decisions/recommendations have been made according to departmental standards. Confirms that the decision made by the investigators not to escalate a case to the Suspicious Activity Reports (SAR) committee is appropriately supported according to departmental standards.
11. Identifies gaps or trends in case files and SARs for both individual analysts and across the team and recommends enhancements to the process as needed.
12. Provide monthly QC scoring according to guidelines, document and assign a QC score to measure the analyst’s performance. Reviews results monthly with Deputy BSA Officer.
13. Conduct QC for Suspicious Activity Reports (SARs) to ensure that the appropriate decisions/recommendations have been made according to departmental standards for completeness, accuracy and timeliness and that the appropriate supporting documentation is obtained.
14. Conduct QC for CDD and EDD reviews to ensure that the appropriate decisions/recommendations have been made according to departmental standards and that the appropriate supporting documentation is obtained. Identifies gaps or trends in CDD/KYC files and recommend enhancements to the process.
15. Spot check timeliness of filing and clearing of Customer Transaction Report (CTR) exceptions.
16. Conduct QC for excluded CTRs to determine that they should not have been filed and are properly documented.
17. Conduct QC for CTRs for proper completion including aggregation of multiple transactions.
18. Actively make recommendations for the Quality control processes to be implemented and to improve efficiencies.
19. Provides support on special projects as needed and represent the BSA Department by participating in meetings with various bank teams and on special projects as assigned by management.
20. Keeps informed of industry changes and trends, typically attained through attendance at seminars and conferences, which would affect the bank’s BSA/AML Operations.
21. Supports the development and delivery of training materials.
22. Assist in the coordination of examiners, auditors or other third parties as it relates to BSA/AML Quality Control.
23. Maintains up to date knowledge of the Bank’s AML automated tool and the core processor. Assists in system updates as assigned.
Knowledge, Skills & Abilities
Proficiency with MS Office Suite and AML software. Understanding of BSA and AML procedures and BSA/AML Certification or willingness to obtain.Total Plus experience preferred. Strong attention to detail with demonstrated ability to conduct follow-up.Ability to work independently and in a team environment.Knowledge and understanding of Bank Secrecy Act, Enhanced Due Diligence (EDD), OFAC, USA PATRIOT Act and related regulations.Ability to analyze data and identify and define problems and propose solutions.Working knowledge of fraud processes and prevention methods. Ability to interpret regulations and compare requirements to existing processes. Proven ability to research, investigate and resolve issues and exceptions.Ability to learn the bank’s products, services, customers and entities, and geographic locations, and the potential money laundering and terrorist financing risks associated with those activities.Strong time management skills required.Demonstrated ability to identify opportunities to improve workflow and processes to create efficiency and enhance accuracy.
Experience & Education
Bachelor’s Degree in business, business/finance or criminal justice preferred or equivalent work experience.5 years’ prior bank operations or audit experience in a BSA/AML environment with 1-2 years of prior quality control experience or work in analytical position strongly preferredACAMS certification preferred
Internal and External Contacts
Regular contact with Retail Branch management and staff, and Compliance Officer. Interaction with Retail Customer Services, Retail Support Services, Legal, and Internal Audit Department, other departments and service providers as necessary.
Working Conditions/Physical Requirements
Office environment. Ability to operate computer. Ability to communicate in order to exchange simple to complex information with individuals and groups. Ability to travel throughout Bank footprint.
Job detailsJob TypeFull-timeFull Job DescriptionPRIMARY PURPOSE: