BSA High Risk Specialist

Company: Avidia Bank
Location: Westborough
Posted on: May 16, 2022

Job Description:

: 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/Disabled Member FDIC/DIF PM21 PI176391548

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