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BSA High Risk Specialist

Company: Avidia Bank
Location: Westborough
Posted on: May 15, 2022

Job Description:

Avidia BankEqual Employment Opportunity/M/F/disability/protected veteran statusDescription:
Position Overview:The BSA High Risk Specialist monitors account activity of certain high risk clients to ensure compliance with BSA requirements, performs required due diligence, identifies instances of non-compliance or suspicious activity, and completes reports as required. This position also conducts research and analysis on more complex investigations in order to recommend actions and/or write Suspicious Activity Reports (SARs).Primary Responsibilities:Performs any functions necessary within the BSA department, within scope of authority and expertise, and provides the highest level of service and responsiveness to customers:

  • Involved in all aspects of on-boarding and customer relationship management on an on-going basis; including meeting with prospective businesses, preparing account opening packages, handling incoming customer inquiries, and managing outgoing communications with customers;
  • Assists the Assistant BSA Officer with the monitoring of specific high risk clients in accordance with regulatory guidance, including FinCEN;
  • Reviews documentation submitted by businesses and related parties for account opening, including appropriate licensing information.
  • Develops an understanding of the normal and expected activities for businesses, including the types of products to be sold and customers to be served;
  • On an ongoing basis monitors publicly available sources for adverse information about businesses and related parties;
  • Conducts site visits as necessary;
  • Obtains and reviews updated documentation on a periodic basis; including questionnaires, site visit documentation, sales tracking, license tracking, etc;
  • Manages complex cases and reviews involving multiple relationship accounts and complex ownership structures;
  • Assists in the preparation of SARs by writing and providing the BSA Officer with submission-ready documentation and analysis;
  • Reviewing and verifying that all CTRs are completed correctly and prepared for final approval and submission;
  • Monitors and reviews account activity in identified alerts & cases, and with sufficient research, makes an assessment/recommendation on the proper course of action to management;
  • Maintains BSA high risk customer files for compliance;
  • Communicates with law enforcement and other financial institutions through the utilization of FinCEN 314(a) & (b) information sharing;
  • Provides guidance and mentorship to more junior BSA staff, provide informal training to more junior staff as necessary;
  • Maintains ongoing tracking logs for review by the BSA Officer;
  • Completes department-specific projects and assignments as assigned by senior management;
  • Assists management with requests from auditors and examiners as needed;
  • Assists in guidance and training of front-line banking staff regarding BSA matters;
  • Engages in continuing education through related trainings;Other Responsibilities:
    • Performs related and unrelated duties as may be required..

      Requirements:
      • Bachelor's Degree combined with five years or more of BSA/AML monitoring and analysis experience or an equivalent combination of professional experience and training.
      • Applied knowledge and strong understanding of BSA/AML, USA PATRIOT ACT, OFAC, and SAR requirements and processes.
      • Computing proficiency including PC operation, various banking software packages and the MS Office suite (Word, Excel, Outlook).
      • Strong time management, analytical, communication (written and verbal), organizational skills and the ability to work independently.
      • Experience with third party payment processing including EDD, monitoring, and reporting and MSBs preferred.
      • CAMS Certification preferred.
      • Experience with Verafin AML software preferred.Avidia Bank is an Equal Opportunity Employer/Veterans/DisabledMember FDIC/DIFPM21PI176391690

Keywords: Avidia Bank, Worcester , BSA High Risk Specialist, Other , Westborough, Massachusetts

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