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BSA/AML Analyst II
3 months ago
The BSA/AML Analyst II is a valued part of a cohesive team focused on detecting and preventing the bank from illicit activity, including money laundering and terrorist financing.
The BSA/AML Analyst ll position will identify unusual transaction behavior patterns on accounts and will be a resource to team members. This role will prepare case summaries and make recommendations on the disposition of cases and prepare SARs as required. The structure of this position requires the ability to work with processes based on varying and unique results and circumstances, not on defined instructions. This position requires attention to detail, as well as excellent analytical skills to identify suspicious activity. This position requires the individual to exercise sound judgment and to observe the highest degree of confidentiality in the handling of information. Other responsibilities include reporting, recordkeeping and various processes related to the Bank Secrecy Act. This position operates under the guidance of team members and the BSA Officer.
Essential Responsibilities
Job Function 1: Investigate Transactions for Suspicious Activity - 40%
- Detect and investigate suspicious activity from various BSA alerts, reports, systems and processes.
- Keep detailed documentation of the investigation within the Verafin case.
- Collaborate with other Alerus departments when researching and resolving suspicious activity under the direction of an analyst or investigator with higher authority.
- Escalate more complex cases to higher authority team members.
- Identify suspicious activities that require a SAR filing with team members.
- Develop and maintain collaborative working relationships with internal and external clients by applying excellent verbal, written and telephone communication skills.
- Make recommendations for revisions that would improve Alerus' ability to deter suspicious activity.
- Perform all 314(a) monitoring processes and reporting potential true positives to the BSA Officer.
- Prepare and submit CTRs and perform CTR Exemption process.
- Monitor completion of CDD, CIP and KYC performed by the front-line personnel.
- Perform enhanced due diligence of high-risk customers and products.
- Review transaction and customer screening reports for potential OFAC violations and reporting potential true positives to the BSA Officer.
- Provide primary and backup coverage on BSA AML processes, as needed.
- Assist and/or provide backup coverage on Fraud processes as needed.
- Participate in team meetings.
- Create, update, and maintain written procedures in the R&R Database.
- Provide one on one training on specialized processes to ensure adequate coverage.
- Attend all mandatory and field specific training as directed by the BSA Officer.
- Maintain up-to-date knowledge of all systems.
- Actively pursue continuing education, reading, and self-development to enhance skills.
- Maintain compliance knowledge of required regulations.
Qualifications:
- Associate's degree or equivalent combination of education and/or 2-5 years financial industry experience.
- Minimum 2-3 years of experience in Fraud or BSA/AML required.
- Previous banking or financial services experience required.
- Possesses investigative and research skills using various systems.
- Excellent written and verbal skills.
- Positive, client-centric attitude.
- Strong computer, time management and organizational skillsets.
- Self-motivated, confident and eager to take on new challenges.
- Attention to detail with a strong commitment to quality and the ability to multi-task.
- Professional appearance and attitude.
- Commitment to continued learning.
- Extended periods of time sitting at a desk and using office equipment.
- Ability to operate a personal computer/laptop for approximately 8 hours per day.
- Extended time is spent reviewing physical and electronic documents.
- The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
- Periodically, may also do light lifting of supplies and materials which weighs in at approximately 20 lbs.
- Will spend most of time in an indoor environment.
- Ability to work outside of normal business hours for testing and project work as needed.
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