Sr. AML​/CFT Support Analyst

Officer: Officer

Reports to: Deputy AML/CFT Officer

FLSA: Exempt

Grade: 10

Salary Range: $55,588 - $102,474

Actual compensation within the pay range will be determined based on factors including, but not limited to, skills, prior relevant experience, and specific work location.

Location: Hybrid within MA, CT, NY, VT, RI

As a federally regulated financial institution, Beacon Bank & Trust (the “Company”) plays an important role in the battle to protect the United States financial system from abuse by criminals. The Company’s Financial Intelligence Unit (“FIU”) is committed to supporting law enforcement efforts to combat serious financial crimes including money laundering and terrorist financing. Within the FIU AML/CFT Team, the incumbent performs and supports a variety of important anti-money laundering and economic sanctions disciplines.

Responsibilities include investigating transaction monitoring and watch list system alerts for potentially serious financial crimes and compliance with economic sanctions across the Company’s banking subsidiaries, performing due diligence research of new and existing higher risk customers, preparing and submitting Currency Transaction Reports (“CTRs”), responding to law enforcement information requests, and any additional necessary duties supporting the Company’s anti-money laundering programs, compliance with the Bank Secrecy Act (“BSA”) and economic sanctions programs administered by the Office of Foreign Assets Control (“OFAC”).

• Analyzes and researches monitoring system alerts and department referrals involving complex customer behaviors and transaction patterns indicative of money laundering, terrorist financing and other serious financial crimes;
• Prepares and maintains notes, findings and documentation in accordance with FIU AML Team standards to sufficiently support alert and department referral research conclusions;
• Prepares and presents investigative case summaries and reports to the Company’s SAR Committee as necessary;
• Performs due diligence and, as applicable, enhanced due diligence analysis and research on multi-faceted new and existing customers and relationships;
• Conducts research and investigations of complex and multi-layered relationships to assess money laundering risks and customer suitability in accordance with the Company’s account opening and customer retention standards;
• Updates and maintains the integrity of essential FIU systems data including but not limited to customer risk factors and questionnaire information;
• Prepares and files SARs as determined by the SAR Committee in accordance with FIU and FinCEN standards;
• Applies monitoring and follow up measures for 90-day continuing activity filings;
• Reviews, edits and files within regulatory mandated time frames complete and accurate CTRs;
• Reviews and resolves system generated alerts relating to customers, counter parties, transactions and other activities for compliance with OFAC economic sanctions regulations and Section 311 of the USA PATRIOT Act;
• Performs review and research of named parties subject to Section 314(a) law enforcement requests;
• Consistently produces high quality work within mandated deadlines and maintains production goals in accordance with FIU and regulatory standards;
• Provides support and guidance to business line partners about BSA and other applicable financial crimes matters;
• Collaborates with other FIU members in furtherance of the FIU’s strategic objectives and applicable regulations;
• Escalates issues and situations requiring the attention of FIU AML managers, Deputy AML/CFT Officer and the AML/CFT Officer;
• Performs ancillary duties as required at the direction of FIU AML managers, Deputy AML/CFT Officer and the AML/CFT…