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
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