WorcesterRecruiter Since 2001
the smart solution for Worcester jobs

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..

      • 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

Click here to apply!

Didn't find what you're looking for? Search again!

I'm looking for
in category

Log In or Create An Account

Get the latest Massachusetts jobs by following @recnetMA on Twitter!

Worcester RSS job feeds