Job Description
Small enough to care. Big enough to deliver.
The Sr BSA/AML Analyst is responsible for ensuring that MidWest
One Bank complies with relevant laws and regulations aimed at preventing money laundering, terrorist financing, and other financial crime. This role involves monitoring, analyzing, and reporting suspicious activities, as well as developing and implementing policies and procedures to mitigate risks.
- Performs review of transactional alerts that are generated by the AML monitoring system and other ancillary systems, escalating alerts considered unusual to case investigations.
- Performs review of watchlist alerts that are generated by the AML monitoring system and other ancillary systems, escalating alerts considered unusual to case investigations.
- Performs case investigations and completes required regulatory reporting.
- Provide subject matter expertise in relation to high-risk/complex case investigations.
- Manages AML Team’s workload distribution of alerts, cases, and regulatory filings.
- Identifies unusual activity that warrants escalation to case investigation and presents case information to governing committees.
- Completes secondary review of regulatory filings for accuracy and completeness prior to filing being completed.
- Provides support for Currency Transaction Report (CTR) completion and filing as required by federal regulation.
- Provides support for the CTR exemption process including annual reviews.
- Provides support of the Monetary Instrument Report for adherence to bank policy and retention of BSA recordkeeping information as required by federal regulation.
- Initiates customer exit discussions with front-line staff, making key decisions on terminating relationships with customers who pose higher risk to the bank.
- Performs triage and delegation for incoming BSA Department communication.
- Assists the BSA Officer with monitoring and enforcement of BSA policies and procedures.
- Performs various administrative support responsibilities related to the Bank Secrecy Act, adhering to company policy, and procedural guidance of overall BSA compliance.
- Updates existing procedures related to BSA operating changes, new regulatory requirements, or risk-based enhancements.
- Prepare documents that are requested as part of examinations and audits and be involved with auditor and examiner discussions.
- Assist in model validation efforts, in accordance with bank policy.
- Perform alert calibration and transaction code mapping within the Financial Crimes BSA/AML software.
- Assist in troubleshooting system issues on the various BSA/AML software platforms.
- Receive, review, and process requests from law enforcement agencies, or other Financial Institutions, in a timely and efficient manner.
- Provide guidance, support, and training to help develop the skills and careers of members of the team.
- Provide support for CIP, CDD, EDD, and OFAC functions of the Financial Crimes Department.
- Serve as a subject matter expert within the BSA/AML realm as well as being a backup for other team functions.
- Continuously review existing processes to implement operational efficiencies.
- Other duties as assigned.
- Bachelor’s degree or equivalent combination of post high school education and related work experience.
- 4to 6 years of related BSA work experience. ACAMS Certification preferred.
Prefer specific knowledge of
- Bank Secrecy Act/Anti Money Laundering/U.S. Patriot Act, OFAC and Security Regulations.
- High Risk Customer, Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD).
- Ability to develop and maintain effective working relationships throughout the bank.
- Ability to act independently and perform duties with limited supervision.
- Competitive base compensation with additional performance-based incentives (incentives vary depending on role)
- Career development and continuous learning opportunities
- Paid Time Off, Paid Holidays, Parental/Grandparent Leave, and more
- 100% vested 401(k) Retirement Plan with company match
- Medical, Dental, and Vision insurance
- Flex spending plan & Health savings accounts with employer contribution
- Student Loan Debt Reduction Program
- Employee Stock Ownership Plan
- Employer provided group life insurance with option to purchase additional life insurance for you and your family members
- Employer provided long term and short term disability insurance
- Additional Insurance options to meet your personal needs Critical Illness and Accident insurance, and Hospital Indemnity
- Wellness Program
- Free banking services and other financial services discounts
- Take Your Dog to Work Day in June
- Employee Rally Day- a day of celebration and recognition!
RISE stands for Retention, Innovation, Support, and Empowerment. Through RISE we aspire to create and sustain a culture of respect and belonging that is reflected in the workplace and the communities we serve.
Let's build something great, together.
Job Tags
Holiday work, Temporary work, Work experience placement,