BSA Analyst

POSITION: BSA Analyst

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity. The BSA Analyst will be responsible for ensuring effective compliance with the Bank Secrecy Act, Anti-Money Laundering, Countering the Financing of Terrorism, Office of Foreign Asset Control monitoring, recordkeeping/reporting requirements, the  Program, and any similar risk-mitigating priorities in accordance with the Bank's established policies and procedures.

• Monitor daily, weekly, and monthly cash transactions and reports, in compliance with the Bank Secrecy Act requirements. Conduct appropriate research and elevate potentially suspicious transactions or trends for further review and discussion.
• Responsible for ensuring that all Currency Transaction Reports are completed in accordance with regulatory guidelines, supporting documentation maintained, and the Monetary Instrument Log is managed as per CSB's established policies and procedures. Continually collaborate with Frontline staff, use sound judgement and effective communication skills to verify/obtain any missing information that may be required for accurately filing a report.
• Exhibit strong investigative, analytical, and writing skills, demonstrated by the ability to articulate the thought process, conduct independent research, and present findings upon transactional activity reviews and trends, during Department and Enhanced Due Diligence review meetings. Exercise judgment within defined procedures and practices to determine appropriate action for resolution of the above.
• As part of the regulatory requirement of Customer Due Diligence, review items flagged as potentially suspicious transactions within the automated transaction monitoring system. Perform sufficient due diligence to resolve or escalating AML alerts based on sound reasoning. Clearly document customer behavior analysis, independent research conducted and detailed conclusion within the transaction monitoring system.
• As part of the regulatory requirement of Enhanced Customer Due Diligence pertaining to potentially higher risk customers, review assigned cases/tasks including but not limited to identification of independent ATM Owners/Operators, MSB Agents, Virtual Currency Exchangers, Human Smuggling/Trafficking Indicators, etc. for anomalous behavior. Perform sufficient due diligence to recommend no change or recommend modifications to customer behavior and parameter settings, in accordance with customers' current risk and behavior while adhering to respective deadlines.
  
  Escalate Enhanced Due Diligence cases/transactional activity for additional investigation if the activity reviewed is potentially suspicious. Clearly document customer behavior analysis, independent research conducted and conclusion within the transaction monitoring system.
• Mitigate and manage risk to CSB arising from potential matches to entities on various US Government watchlists including but not limited to Office of Foreign Asset Control (OFAC), Non- SDN (Specially Designated Individuals), FinCEN's 314(a) List, Bureau of Industry & Compliance, Excluded Parties List System, HUD Limited Denial of Participation, etc. Conduct sufficient research, due diligence, make sound judgement calls, and if required, collaborate with other departments of the Bank to resolve potential matches.
  
  Manage 314(a) requests upon receipt of such information requests from FinCEN. Ensure timely escalation/reporting of any potentially true matches, potentially suspicious transactions, legal requests, and other time sensitive reports.
• Maintain the  Program by documenting  notifications or similar received from other CSB Departments, conducting outreach to such Departments if additional information is required. Perform sufficient due diligence on frequent address change requests received from customers to resolve or elevate due to potential nexus to .
• Attend BSA/AML seminars, training, and conduct independent research and reading, as part of the continuous learning required to stay informed of current regulatory and legislative trends/areas of focus, as it applies to job responsibilities.
• Work closely with senior members of the team to assist with customer risk reviews, investigations, cross functional initiatives, managing internal relationships, system enhancements, process improvement reviews, training events, etc.
• Perform additional duties as required.

• Minimum 2 years of banking/research/investigation experience.
• Strong knowledge of the Bank Secrecy Act/AML fundamentals, and an interest in continuously developing such knowledge by independently researching trends and maintaining geopolitical awareness.
• Have a logical thought process and the ability to review/evaluate transactional activity from different perspectives.
• Demonstrative organizational skills, time…