BSA Specialist

BSA Specialist

First Fed Port Angeles, Washington, United States

First Fed is a local community bank on an exciting growth trajectory with 15 locations including 11 full-service branches in Western Washington. First Fed was recognized by the Puget Sound Business Journal as a Best Workplace and a Top Corporate Philanthropist. By popular vote, First Fed received awards for Best Bank in The Best of the Northwest, Best Banker in Readers’ Choice by Cascadia Daily News, and Peninsula Daily News named us Best Bank on the Olympic Peninsula.

We also received a Best-In-State bank award from Forbes.

For over 100 years First Fed has served our customers and communities throughout the PNW. We’ve donated over $9 million to non-profit organizations in the past 8 years through our foundations, sponsor ships, direct donations, and matched employee donations. Our amazing team has volunteered over 25,000 hours in the past 5 years – many by using our benefit of 3 paid volunteer days per year!

We welcome applicants from all backgrounds – our diversity makes us stronger. Join our award-winning team!

Optimism:
We are positive and decisive. We believe the future will be better than the past. Our attitude demonstrates persistence which leads to success.

Initiative:
We are self-starters and find innovative solutions. We are courageous, entrepreneurial, and passionate. We take action for good.

Respect:
We include individuals from diverse backgrounds and with different perspectives. We are committed to honoring and serving others.

Growth:
We learn and adapt so we can continually improve. We believe in personal growth through grit and determination.

Ownership:
We are invested in our endeavors. We are accountable and take responsibility for our actions and decisions.

The BSA Specialist supports the Bank's Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), Office of Foreign Assets Control (OFAC), Customer Due Diligence (CDD), and related financial crimes compliance programs through monitoring, review, research, and regulatory reporting activities.

The BSA Specialist is responsible for reviewing alerts, referrals, customer due diligence requirements, watchlist and sanctions monitoring, and other financial crimes detection activities to identify unusual or suspicious activity requiring additional review. The Specialist gathers information, performs research, documents findings, and escalates matters requiring formal investigation.

This position also assists with fraud prevention and fraud operations activities as assigned and helps ensure the Bank maintains compliance with applicable laws, regulations, policies, and procedures while protecting the Bank and its customers from financial crime.

Essential Functions for BSA Specialist I and II are as follows:

• Review and disposition transaction monitoring alerts generated through Verafin and other Bank systems.
• Review Customer Due Diligence (CDD) alerts and obtain, analyze, and document customer information necessary to support customer risk assessments.
• Perform Enhanced Due Diligence (EDD) reviews and recommend escalation of higher-risk or more complex customer relationships.
• Review OFAC, watchlist, sanctions screening, negative news, and other risk-monitoring alerts in accordance with established procedures.
• Review customer activity, account relationships, and transactional behavior to identify unusual activity, elevated risk, or information requiring additional review.
• Obtain and document information from customers, business units, public records, and internal systems necessary to support due diligence and monitoring requirements.
• Prepare and file Currency Transaction Reports (CTRs) in accordance with regulatory requirements and internal procedures.
• Open cases and elevate activity requiring formal investigation based on monitoring results, due diligence reviews, referrals, customer activity, or other identified concerns.
• Document alert reviews, due diligence reviews, referrals, findings, and recommendations in accordance with department procedures.
• Assist with maintenance of…