Service Business; MSB Specialist

Summary

Performs a variety of duties to assist the BSA Officer with compliance to the Bank Secrecy Act, Office of Foreign Assets Control, USA PATRIOT Act and other Anti-Money Laundering regulations. Monitors transaction activity on daily basis. Assists the BSA Officer in monitoring activity within the Bank, implementing policies and procedures, and ensuring compliance with all BSA related regulations and enhanced due diligence programs.

Assists in the investigation of fraudulent, illegal, or suspicious activities that could cause losses to or claims against the Bank.

• Onboard review of all new Money Service Business prospects to ensure the MSB does not pose undue risk to the bank.
• Conduct ongoing quarterly and annual reviews of MSB customers.
• Detect and address concerns within the MSB client base.
• Meet with MSB compliance departments to remediate concerns or non-compliance in a professional manner.
• Identify suspicious activity within MSB reviews and help the BSA Department complete Suspicious Activity Reports.
• Review and analyze MSB-specific transaction data through system alerts for unusual activity; investigate and research as necessary.
• Make recommendations to the BSA Officer and senior management when appropriate.
• Analyze the Bank's MSB portfolio holistically and report on risk associated with certain sectors of the client base, based on geography, business model, etc.

• Bachelor’s degree or minimum three years equivalent experience.
• Experience as BSA investigator or previous banking experience with knowledge of BSA requirements; at least 3 years preferred.
• Familiarity with the MSB/Banking remittance account operating model.
• Ability to learn and attain proficiency with the Bank’s core system of products.
• Detail oriented and accurate.
• Excellent analytical, judgment, and research skills.
• Must be a self-starter and have the ability to multi-task.
• Excellent verbal communication skills.
• 1+ year experience working at or closely with Money transmitters/Fintech.
• Familiarity with BSA standards and typologies associated with MSBs.
• Familiarity with state licensing, BSA programs, and operations associated with MSBs.
• Strong familiarity with spreadsheets/excel.
• Ability to interpret data and draw accurate conclusions based on evidence.

• Sitting for extended periods of time.
• Walking; bending at the waist; dexterity of hands and fingers to operate a computer.
• Hearing and speaking to exchange information in person or by phone.
• Seeing to read and analyze complex data.

Work is performed in a normal office environment or remotely.

Main Street Bank strives to bring talented, team-oriented individuals on staff to meet and exceed our customers' needs. Team members enjoy a friendly working environment, opportunity for personal and professional growth, generous benefits and access to resources for improving their well-being.

Main Street Bank is an equal opportunity employer. Employment selection and related decisions are made without regard to sex, race, age, disability, religion, national origin, color or any other protected class.