BSA Analyst

Description

The BSA Analyst serves as a consultive and risk management capacity for the BSA Retail function. This role provides subject-matter expertise related to Client Identification Program (CIP), Know Your Client (KYC), Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), Customer Risk Rating (CRR), and other regulatory requirements across a customer’s lifecycle. This position requires a strong working knowledge of alert review and reporting process to effectively advise, challenge, and support business partners and BSA operational teams.

The role partners closely with Retail Banking, Operations, BSA Operations, Fraud, Risk, and other Compliance stakeholders to promote consistent application of regulatory requirements, internal policies, procedures, and the Bank’s risk appetite. The BSA Specialist acts as a trusted escalation point for complex customer scenarios, supports special initiatives and remediation efforts, contributes to program enhancements, and plays a key role in strengthening governance, documentation, and risk decisioning within the Retail BSA framework.

• Serves as a subject matter expert for Retail Banking and related business lines, providing guidance on onboarding, account maintenance, periodic reviews, and customer exits.
• Perform or review Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) for retail customers.
• Evaluate customer profiles using a risk-based approach, incorporating customer activity, products and services, geographies, ownership structures, occupation, and source of funds/wealth where applicable.
• Review and assess the adequacy, accuracy, and consistency of CIP/KYC documentation and recommend remediation when deficiencies are identified. Provide guidance on determining appropriate risk mitigation strategies for higher-risk customers.
• Act as an escalation point for complex, high-risk, or sensitive customer situations, including customer risk ratings, onboarding decisions, and ongoing risk management concerns.
• Provide independent challenge and credible advisory opinions where business practices, documentation, or decisions may not align with policy, procedure, or regulatory expectations.
• Document risk-based analyses and advisory rationale to support governance, audit trails, internal oversight, and regulatory examinations.
• Conduct or review preliminary BSA screenings, including adverse media, sanctions, and PEP reviews, and assess potential regulatory and reputational risk.
• Review BSA watchlist alerts (e.g., 314a, OFAC, sanctions, negative news) and assist with disposition, escalation, or referral.
• Maintain sufficient familiarity with transaction monitoring typologies and alerting frameworks to support advisory functions, issue identification, and escalation decisions.
• Assist with the preparation of or advise on Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) other BSA reporting where complex or unusual scenarios require subject matter input.
• Provide BSA support for new retail products, services, channels, or material process changes, including digital initiatives and third-party solutions impacting customer risk.
• Participate in special projects, including remediation activities, policy and procedure updates, process improvements, and control enhancements.
• Identify and analyze trends, themes, and emerging risks across the retail portfolio. Translate observations into actionable insights and recommendations for BSA leadership to support risk management and continuous improvement.
• Partner with first-line, operational, and second-line teams to promote consistent understanding and application of CIP/CDD/EDD requirements.
• May support BSA/AML or fraud investigations.
• All employees are responsible for compliance with the Bank Secrecy Act and in some roles, OFAC regulations. Depending on job responsibilities, more or less aspects of the regulations may apply, but at a minimum, all employees are responsible for reporting suspicious activity they identify in the course of performing their job duties. This includes activities conducted by customers, fellow employees, board…