Servbank
BSA/AML Compliance Analyst
Servbank, Hartford, Connecticut, United States,
DescriptionJob Summary:
The BSA/AML Compliance Analyst will work closely with the Deputy BSA Officer and will be responsible in all aspects of the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML), USA Patriot Act, and Office of Foreign Assets Control (OFAC) compliance. In addition, the analyst, using industry standards and regulatory guidance, will aid in maintaining the BSA monitoring program, including but not limited to: Know Your Customer (KYC), Customer Identification Program (CIP), and Customer Due Diligence (CDD) compliance; conducting Enhanced Due Diligence (EDD) reviews of higher-risk customer relationships; investigating and analyzing transaction monitoring alerts; and the completion of Suspicious Activity Reports (SARs).About Servbank:Founded in 1994, Servbank is a banking institution with local roots and national reach. We were built on a foundation of community-orientation, which ensures that no matter who we serve, we do so with the human touch that marks the gold standard of service. We work with individuals, businesses, and communities, so that whether you’re a student, a homeowner, a small business owner, or a community leader, we can help you fulfill your goals. Come create excellence with Servbank.Key Responsibilities:The BSA/AML Compliance Analyst will be a member of the bank’s Compliance Team and responsibilities are as follows:Performs comprehensive reviews of customer transactions, accounts, and activities to identify potential instances of money laundering, fraud, and other financial crimes.Monitors and analyzes transactional data for suspicious activities, unusual patterns, and potential violations of BSA/AML and OFAC regulations communication to appropriate lines of business which will be impacted by these changesAssesses the risk associated with customer accounts and transactions based on regulatory guidelines and internal policiesInvestigates alerts generated by transaction monitoring systems, including conducting research, gathering documentation, and making recommendations for further actionPrepares and file Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) as required by regulatory authoritiesStays abreast of changes in BSA/AML and OFAC regulations, as well as industry best practices, and ensure that compliance procedures are currentPerform other related duties or special projects as assigned.RequirementsEssential Knowledge and SkillsSound knowledge and understanding of BSA/AML, OFAC and USA PATRIOT Act regulations.Excellent decision making, analytical and investigative abilities with attention to detail and accuracy.Strong written and verbal communication skills.Ability to work independently with a high level of initiative, to research, and problem solve.Capacity to manage resources, time and organizational skills to meet deadlines, prioritize tasks, follow through on projects, and document results.Strong team player with ability to influence and collaborate with peers.Proficiency in Microsoft Office (Excel, Word, PowerPoint, Outlook, etc.).Ability to learn additional systems as needed.Knowledge in subservicing of mortgages would be preferrable.Qualifications and Experience:Bachelor’s degree in business, finance, or a related field preferred and/or 3+ years experience in deposit banking, mortgage servicing, and/or compliance function related to the banking industry.Financial crimes experience welcomed.Certified Anti Money Laundering Certification (CAMS) is not required but is an added benefitEEO Statement:We’re an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.
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The BSA/AML Compliance Analyst will work closely with the Deputy BSA Officer and will be responsible in all aspects of the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML), USA Patriot Act, and Office of Foreign Assets Control (OFAC) compliance. In addition, the analyst, using industry standards and regulatory guidance, will aid in maintaining the BSA monitoring program, including but not limited to: Know Your Customer (KYC), Customer Identification Program (CIP), and Customer Due Diligence (CDD) compliance; conducting Enhanced Due Diligence (EDD) reviews of higher-risk customer relationships; investigating and analyzing transaction monitoring alerts; and the completion of Suspicious Activity Reports (SARs).About Servbank:Founded in 1994, Servbank is a banking institution with local roots and national reach. We were built on a foundation of community-orientation, which ensures that no matter who we serve, we do so with the human touch that marks the gold standard of service. We work with individuals, businesses, and communities, so that whether you’re a student, a homeowner, a small business owner, or a community leader, we can help you fulfill your goals. Come create excellence with Servbank.Key Responsibilities:The BSA/AML Compliance Analyst will be a member of the bank’s Compliance Team and responsibilities are as follows:Performs comprehensive reviews of customer transactions, accounts, and activities to identify potential instances of money laundering, fraud, and other financial crimes.Monitors and analyzes transactional data for suspicious activities, unusual patterns, and potential violations of BSA/AML and OFAC regulations communication to appropriate lines of business which will be impacted by these changesAssesses the risk associated with customer accounts and transactions based on regulatory guidelines and internal policiesInvestigates alerts generated by transaction monitoring systems, including conducting research, gathering documentation, and making recommendations for further actionPrepares and file Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) as required by regulatory authoritiesStays abreast of changes in BSA/AML and OFAC regulations, as well as industry best practices, and ensure that compliance procedures are currentPerform other related duties or special projects as assigned.RequirementsEssential Knowledge and SkillsSound knowledge and understanding of BSA/AML, OFAC and USA PATRIOT Act regulations.Excellent decision making, analytical and investigative abilities with attention to detail and accuracy.Strong written and verbal communication skills.Ability to work independently with a high level of initiative, to research, and problem solve.Capacity to manage resources, time and organizational skills to meet deadlines, prioritize tasks, follow through on projects, and document results.Strong team player with ability to influence and collaborate with peers.Proficiency in Microsoft Office (Excel, Word, PowerPoint, Outlook, etc.).Ability to learn additional systems as needed.Knowledge in subservicing of mortgages would be preferrable.Qualifications and Experience:Bachelor’s degree in business, finance, or a related field preferred and/or 3+ years experience in deposit banking, mortgage servicing, and/or compliance function related to the banking industry.Financial crimes experience welcomed.Certified Anti Money Laundering Certification (CAMS) is not required but is an added benefitEEO Statement:We’re an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.
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