BSA​/AML Investigator

Position: BSA/AML Investigator I
JOB FUNCTION:

The Bank Secrecy Act (BSA)/Anti Money Laundering (AML) Investigator is responsible for providing support to the BSA Manager and BSA & Compliance Officer to maintain compliance with Jefferson Bank's BSA Program. Responsibilities include the review of regulations relevant to the USA Patriot Act, Customer Identification Program, OFAC, as well as all investigations pertaining to potential money laundering. This person is recognized as a subject-matter expert in BSA/AML operations within the organization as a specialized depth and breadth of knowledge is required.

The BSA/AML Investigator will interpret internal and external business issues and recommend solutions and best practices to safeguard the bank against fraudulent or suspicious activity.

DUTIES & RESPONSIBILITIES:

• Conducts alert review/analysis on transactional data to determine irregular activity through understanding of industry norms, historical customer activity and regulatory definitions of suspicious activity generated by the Bank's Anti-Money Laundering software system, Verafin.
• Identifies high risk customers, products, and services offered by the bank and implements necessary monitoring controls to address potential money laundering risk.
• Updates customer accounts according to identified risk factors and history.
• Responsible for case creations derived from Anti-Money Laundering (AML)/Bank Secrecy Act (BSA) screening of possible irregular account activity in Verafin during monitoring of high-risk customers (i.e., MSBs, CIBs, ATM owners, C-Stores, DOEP customers).
• Rotates with team members to complete/QC/file Currency Transaction Reports (CTRs) electronically ensuring timely submission.
• Identifies and acknowledges potential CTRs
• Works new account and new CIF reports
• Provides guidance and support to business units concerning roles and responsibilities pertinent to their due diligence in the customer identification process.
• Develops, recommends, and implements processes and controls to ensure bank compliance with anti-money laundering (AML) rules and regulations.
• Reports Suspicious Activity to the SAR Investigators and makes recommendations as deemed appropriate.
• Monitors High Risk Customers
• Monitors and reviews Money Service Business (MSB) and Cash Intensive customers.
• Acknowledges timely implementation of new procedures in compliance with any change in laws and regulations and enhanced due diligence programs.
• Provides support and works with branch personnel and other lines of business that report suspicious activity and potential money laundering activity.
• Works with various departments to understand alert activity ensuring compliance with laws and regulations.
• Possesses working knowledge of current BSA/AML trends.
• Possesses knowledge and understanding of OFAC sanctions, laws, rules, and regulations.
• Ensures completion of OFAC review and certifications as warranted.
• Possesses knowledge and understanding of FinCEN 314(b) rule of the USA Patriot Act.
• Ensures completion and review of the 314(A) matches as assigned.
• Promotes employee engagement by participating in team meetings and activities.
• Responsible for identifying system weaknesses and/or processing errors while reviewing daily work and reporting these to the BSA Manager.
• Identifies process improvements to increase the efficiency and effectiveness of the AML process.
• Takes initiative to learn new systems and takes advantage of cross training opportunities.
• Maintains current knowledge of federal and state laws pertaining to BSA/AML and FACT Act.
• Performs other duties, special projects, assignments, tasks, and cross-trains as determined by business needs.
• Attends BSA School and/or additional BSA/AML training as available.

MINIMUM QUALIFICATIONS:

• 3+ years or more of Bank Secrecy Act & Anti Money Laundering work experience. Which includes the ability to identify and interpret BSA/AML rules and regulations to ensure compliance
• Proficient spreadsheet and word processing experience
• Experience with bank systems including Jack Henry, Xperience and Verafin BSA/AML software
• Knowledge of incoming/outgoing flow of funds and compiling supporting documentation
• Experience conducting and interpreting TLO and Negative News Searches
• Ability to work well with others in a high-pressure deadline driven environment
• Demonstrated exceptional attention to detail
• Must be a self
  -starter with strong organizational and communication skills

Education/Skills/Experience

• High School Diploma or Equivalent
• Must possess ability to prioritize, focus on tasks required, and be reliable to complete all duties on schedule even though some may be repetitive

Equipment/Machines/Software

• Excellent computer literacy in all Microsoft Programs (Office, Outlook, Word, Excel, and Power Point)
• Proficient in Adobe Reader and various internet browsers
• Vendor Systems (Jack Henry, Verafin) preferred
• Ability to work with office equipment such as personal computers, calculator, copiers, scanners, printers, shredders, phone systems, and fax

Competency Requirements

• Proven…