BSA/AML Compliance Analyst

1 month ago

Miami, Florida, United States Regions Full time

Thank you for your interest in a career at Regions. At Regions, we believe associates deserve more than just a job. We believe in offering performance-driven individuals a place where they can build a career --- a place to expect more opportunities. If you are focused on results, dedicated to quality, strength and integrity, and possess the drive to succeed, then we are your employer of choice.

Regions is dedicated to taking appropriate steps to safeguard and protect private and personally identifiable information you submit. The information that you submit will be collected and reviewed by associates, consultants, and vendors of Regions in order to evaluate your qualifications and experience for job opportunities and will not be used for marketing purposes, sold, or shared outside of Regions unless required by law. Such information will be stored in accordance with regulatory requirements and in conjunction with Regions' Retention Schedule for a minimum of three years. You may review, modify, or update your information by visiting and logging into the careers section of the system.

Job Description:

At Regions, the BSA AML and OFAC Compliance Analyst is a second line of defense risk management function that ensures the development and maintenance of a strong compliance culture by developing and maintaining a program infrastructure that identifies, measures, and monitors compliance with all applicable laws, regulations, and rules that govern a specific line of business. Associates at this level are responsible for ensure our company's compliance with Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) regulations.

Primary Responsibilities

  • Performs comprehensive reviews of customer transactions, accounts, and activities to identify potential instances of money laundering, fraud, and other financial crimes.
  • Monitors and analyzes transactional data for suspicious activities, unusual patterns, and potential violations of BSA/AML and OFAC regulations communication to appropriate lines of business which will be impacted by these changes
  • Assesses the risk associated with customer accounts and transactions based on regulatory guidelines and internal policies
  • Investigates alerts generated by transaction monitoring systems, including conducting research, gathering documentation, and making recommendations for further action
  • Prepares and file Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) as required by regulatory authorities
  • Stays abreast of changes in BSA/AML and OFAC regulations, as well as industry best practices, and ensure that compliance procedures are up-to-date
  • Collaborates with internal stakeholders, including legal, risk management, and operations teams, to address compliance issues and implement effective controls
  • Provides training and guidance to employees on compliance policies, procedures, and regulatory requirements

This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.

Requirements

  • Bachelor's degree and three (3) years of experience in compliance, quality assurance/control, audit, or other related compliance function specific to a line of business
  • Or High School Diploma or GED and seven (7) years of experience in compliance, quality assurance/control, audit, or other related compliance function specific to a line of business

Preferences

  • Certified Regulatory Compliance Manager (CRCM)

Skills and Competencies

  • Ability to learn additional systems as needed
  • Ability to research, analyze data, and derive facts
  • Ability to work in a team environment when applicable
  • Proficiency in Microsoft Office (Excel, Word, PowerPoint, Outlook, etc.)
  • Proficiency in using compliance software and transaction monitoring tools
  • Strong understanding of BSA/AML and OFAC regulations
  • Strong verbal, written communication, and organizational skills
  • Strong work ethic and self-motivation

Additional Preferred Skills:

  • Comprehensive knowledge of personal trust, institutional/corporate trust, agencies, and investment management accounts.
  • Strong knowledge of BSA/AML/OFAC requirements related to onboarding Wealth (inclusive of International Private Banking, Institutional/Corporate) clients.
  • Ability to research, analyze, and interpret professional journals or governmental regulations and ensure these are captured within business unit/desktop procedures.
  • 2+ years of BSA, AML or OFAC compliance experience within the Wealth space.
  • CAMS/FIBA AML Certification (preferred)
  • Ability to read documentation/website information in Spanish. (preferred)
  • Knowledgeable of international affairs involving Latam and OFAC sanctioned countries.

Position Type

Full time

Compensation Details

Pay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual associates within the same job.

The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position.

Job Range Target:

Minimum:

$60,950.00 USD

Median:

$81,750.00 USD

Incentive Pay Plans:

This job is not incentive eligible.

Benefits Information

Regions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for benefits-eligible associates. Listed below is a synopsis of the benefits offered by Regions for informational purposes, which is not intended to be a complete summary of plan terms and conditions.

  • Paid Vacation/Sick Time
  • 401K with Company Match
  • Medical, Dental and Vision Benefits
  • Disability Benefits
  • Health Savings Account
  • Flexible Spending Account
  • Life Insurance
  • Parental Leave
  • Employee Assistance Program
  • Associate Volunteer Program

Please note, benefits and plans may be changed, amended, or terminated with respect to all or any class of associate at any time. To learn more about Regions' benefits, please click or copy the link below to your browser.

Location DetailsDowntown MiamiLocation:Miami, Florida

Bring Your Whole Self to Work

We have a passion for creating an inclusive environment that promotes and values the differences that make each of us stand out as unique individuals and help provide valuable perspective that makes us a better company and employer. More importantly, we recognize that creating a workplace where everyone, regardless of background, can do their best work and thrive is the right thing to do.

OFCCP Disclosure: Equal Opportunity Employer/Disabled/Veterans

Job applications at Regions are accepted electronically through our career site for a minimum of five business days from the date of posting. Job postings for higher-volume positions may remain active for longer than the minimum period due to business need and may be closed at any time thereafter at the discretion of the company.

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