BSA/AML Analyst

4 weeks ago

Rockville, Maryland, United States Sandy Spring Bancorp Full time
About the Job

Sandy Spring Bank is seeking a highly skilled BSA/AML Analyst to join our team. As a key member of our Financial Intelligence Unit, you will be responsible for monitoring and investigating potentially suspicious activity, ensuring accurate and timely submission of required reports, and conducting complex data analysis to detect and deter money-laundering activities.

Key Responsibilities
  1. Conduct daily reviews of various reports, applications, and platforms to identify potential suspicious activity.
  2. Analyze complex data to determine if CTR filing is required and if activity appears suspicious.
  3. Refer potentially suspicious activity for SAR consideration.
  4. Document findings in a concise and detailed manner consistent with policy and procedure.
  5. Stay up-to-date on current laws, regulations, and common practices in the Bank Secrecy Act, OFAC, USA Patriot Act, and Anti-Money Laundering/Financial Crimes fields.
  6. Conduct investigations to resolve potential matches generated by the Bank's OFAC/Watch list screening system.
  7. Review and analyze bi-monthly FinCEN 314(a) issued lists for possible matches within the Bank's database.
  8. Provide subject matter expertise to the Front Line, Business lines, and Business partners.
  9. Review complex business formation and governance documents to ensure adherence to CDD/EDD-Beneficial Ownership Rule.
  10. Assist in the preparation of monthly reports to keep management informed of department activities.
Requirements
  • A minimum of 2 years of BSA/AML experience required or other related experience required.
  • College Degree preferred.
  • Working knowledge of the Bank Secrecy Act and its implementing regulations.
  • Experience with the Bank's monitoring and reporting systems or similar systems for BSA/AML compliance and risk surveillance.
  • Demonstrated experience in applying strong problem-solving, judgment, and analysis to detect and deter money-laundering activities.
  • Ability to work independently and cohesively within a team of specialized associates.
  • Highly self-motivated with excellent communication skills and ability to manage and analyze data.
  • Exceptional analytical skills, judgment, attention to detail, and ability to prioritize tasks and work under pressure.
  • Experience with case management platforms a must.

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