Specialty Banking Risk & Compliance Analyst

Job Title:

Specialty Banking Risk and Compliance Analyst I

Location:

Mason Main Office - Mason, MI 48854

Position Type:
Full Time

Work Schedule:

Day (Hybrid – 3 days per week in the office)

Shift: Monday‑Friday, 8:00AM – 5:00PM EST

Remote eligibility:
Candidates who live outside the commuting distance are eligible to work remotely.

The Specialty Banking Risk and Compliance Analyst I is responsible for conducting initial and ongoing due diligence for Specialty Banking clients and accounts, with a primary focus on cannabis and hemp. This role supports client onboarding, risk assessment, account monitoring, and regulatory compliance activities to ensure adherence to Bank Secrecy Act (BSA), Anti‑Money Laundering (AML), Know Your Customer (KYC), Customer Identification Program (CIP), and internal policies and procedures.

The analyst performs detailed reviews of customer information, business operations, account activity, licensing documentation, and financial records to identify and mitigate risk while providing a positive client experience. This position works closely with Relationship Managers, the BSA/AML Department, Compliance, Operations, and customers to support the ongoing management of specialty banking relationships.

• Conduct initial due diligence reviews for prospective Specialty Banking clients.
• Collect, review, and verify required onboarding documentation, including business formation documents, ownership structures, beneficial ownership information, licenses, permits, and financial records.
• Perform Customer Identification Program (CIP), Know Your Customer (KYC), and Enhanced Due Diligence (EDD) reviews.
• Prepare risk assessments and due diligence summaries for account approval.
• Coordinate with internal departments to ensure timely and accurate onboarding of new accounts.
• Ensure compliance with account opening requirements and risk management standards.
• Collaborate with Relationship Managers and internal partners to resolve documentation deficiencies and facilitate account approval.

• Conduct daily, monthly, and periodic reviews of client accounts and transactional activity.
• Monitor account activity for consistency with business purpose, expected activity levels, and customer risk profiles.
• Analyze transactional activity and supporting documentation to identify unusual or suspicious activity patterns and escalates concerns in accordance with bank policies and regulatory requirements.
• Ensure customer records, due diligence files, and risk profiles remain accurate and current.
• Review quarterly financial statements and other supporting financial documentation to assess the ongoing financial health of clients, validate expected business activity, and identify potential compliance, operational, or reputational risks.

• Conduct background checks and screening on prospective and existing clients utilizing approved third‑party systems and databases.
• Review sanctions, adverse media, regulatory actions, and other relevant risk indicators.
• Document findings and escalates concerns as appropriate.

• Review and verify state‑issued cannabis, hemp, and other applicable business licenses for validity, accuracy, and good standing.
• Monitor license renewals and regulatory compliance requirements.
• Maintain accurate records within internal systems and regulatory databases.

• Manage assigned casework related to specialty banking clients.
• Investigate potential policy, procedural, or regulatory concerns.
• Document findings thoroughly and communicate recommendations to management.
• Coordinate with the BSA/AML Department regarding suspicious activity referrals, investigations, and enhanced due diligence reviews.

• Support the ongoing administration of cannabis, hemp, fintech, and other specialty banking portfolios.
• Monitor industry developments, emerging risks, and regulatory changes impacting specialty banking clients.
• Assist in maintaining portfolio reporting and risk management documentation.