Financial Crimes Risk Analyst

Overview

Summary: Assists in ensuring the Bank’s compliance with the applicable aspects of the Bank Secrecy Act (BSA), USA PATRIOT Act, and Office of Foreign Assets Control (OFAC) regulations by monitoring, identifying, reporting, and investigating suspicious activity relative to potential money laundering activity, financial crimes and/or terrorist financing. The FCRM Analyst will assess the financial crimes risk of customers to ensure compliance with BSA/AML regulations related to customer identification procedures (CIP), customer due diligence (CDD), enhanced due diligence (EDD), and beneficial ownership (BO).

• Performs scheduled Enhanced Due Diligence (EDD) reviews of accounts deemed high risk, including Money Service Businesses (MSBs), Marijuana or cannabis-related or cannabis-adjacent businesses (MRBs), Non-Bank Financial Institutions (NBFIs), Politically Exposed Persons (PEPs), Non-Resident Alien (NRA), privately-owned ATM operators (POATMs), Crypto-Currency, etc.; documents EDD monitoring and tags accounts appropriately in Verafin.
• Analyzes transactional account trends and documentation to conclude EDD reviews of high-risk customers; makes recommendations to accept high risk, mitigate to medium/moderate risk, or refer for account closure.
• Provides updated information to the Financial Crimes Risk Manager for updating/revising procedures for handling newly identified high-risk customers, including proper methods to review such accounts and to report suspicious activity, document relationships, and/or recommend account closure if necessary.
• Reviews Verafin reports to determine if NGO (Non-Government Organizations), MRBs (Marijuana-Related Businesses), or MSB (Money Services Businesses) are unidentified in the BSA system; adds tags and comments as needed.
• Evaluates transactional activity in accounts identified as POATMs or MSBs to identify unusual patterns or lack of cash activity based on trends.
• Stays up-to-date on MSB and MRB requirements for Louisiana, Mississippi, Texas, Alabama, and Florida as well as federal guidelines.
• Communicates with applicable bank personnel to obtain any further documentation or information necessary to complete investigations or reviews of high-risk accounts.
• Tracks documentation required on all MSBs and collaborates with retail and lending staff to resolve exceptions.
• Processes alerts in Verafin that reflect Privately-Owned ATM-type transactions for accounts not previously identified as POATM owners.
• Adds comments to new Remote Deposit Capture (RDC) accounts in Verafin with risk rating assigned.
• May be assigned alerts in Verafin for red flags or new account scenarios and reviews to determine if the alert can be cleared or requires further investigation.
• Utilizes internal bank systems and external research tools to investigate, research, and prepare documentation related to anti-money laundering investigations.
• Develops an understanding of the industry and AML-related regulations, as well as patterns of behavior that represent suspicious activity.
• Stays up-to-date on current and new policies and regulations as they relate to anti-money laundering schemes and characteristics.
• Supports any special projects or critical casework regarding BSA/AML matters.

This job has no supervisory responsibilities.

• Analytical and Design – Strong problem solving and analytical skills; technical troubleshooting and ability to manage multiple complex projects.
• Problem Solving – Identifies and resolves problems in a timely manner; analyzes information; works well in group problem solving; uses reason even in confidential topics.
• Interpersonal Skills/Customer Service – Maintains confidentiality; open to others’ ideas; responds to requests for service; meets commitments.
• Oral and Written Communication – Communicates clearly; listens; responds to questions; interprets written information.
• Teamwork – Builds positive team spirit; supports team success.
• Organizational Support – Follows policies and procedures; completes administrative tasks on time; supports organization’s goals.
• Judgment and Motivation – Exercises sound judgment; explains reasoning;…