Bank Secrecy Act Analyst

Management Recruiters International Inc. (MRINetwork) is the world’s largest executive search and recruitment organization with a global network of offices and recruiting professionals. Founded in 1966 and consisting of five offices across New England, The Boston Group is one of MRI’s oldest, largest, and most highly acclaimed members.

Company Info:

Our client is a mutual holding company . With each affiliate bank committed to retaining its individual name, identity, community commitment and state charter, and each bank’s board of directors and leadership team oversees the operations of their respective banks. They are also committed to maintaining each bank’s status as an independent community bank with a mutual form of ownership.

Job Description:

The Senior BSA Analyst supports the BSA Officer with various BSA operations including AML investigations, SAR filing, customer risk rating, high-risk customer surveillance, enhanced due diligence processes, special investigations, and OFAC compliance. The candidate will act in the capacity of subject matter expert supporting BSA team members and Bank lines of business to ensure compliance with Bank Secrecy Act, Anti-Money Laundering, Office of Foreign Assets Control, and USA PATRIOT Act Regulations. Duties include monitoring, staff training, and management reporting. Independently stays abreast of new and changing BSA and related regulations. Advises the BSA Officer of emerging BSA compliance issues and assists in the establishment of controls to mitigate risks. Assists the BSA Officer in ensuring that the BSA area operates efficiently and meets regulatory expectations.

Job Requirements:

Essential responsibilities:

• Maintain an in-depth knowledge of BSA laws and regulations, along with Bank’s policies and procedures. 
• Assists the BSA Officer with the development and review of BSA processes and procedures, within regulatory guidelines, to comply with BSA and OFAC laws. 
• Utilizes complex BSA/AML software for monitoring of account activity for suspicious patterns and activity, customer and account reviews, account risk profiles and high risk customer identification, researches and resolves alerts timely, evaluates unusual patterns.  
• Manage more complex investigations and investigate suspected cases of activity related to money laundering, terrorist financing, and tax evasion. Collaborates with Fraud Team on case management.  
• Preparation and submission of Currency Transaction Reports (CTRs) within regulatory timeframes. Investigates, researches, tracks and follows-up on CTR related errors made by personnel. Looks for systemic errors and recommends additional training to branch/department or personnel. 
• Assists BSA Officer with BSA/AML automated software provisioning, controls, parameter settings, testing, and validation to ensure effectiveness to identify suspicious and fraudulent activity. Evaluates software releases and makes recommendations. 
• Answers more complex BSA and OFAC related questions from personnel, using established BSA resources, and escalates to BSA Officer as needed. 
• Assist BSA Officer with review of BSA related bank policies, procedures, disclosures, notices and forms to comply with regulatory updates or new requirements. 
• Independently completes reviews of higher risk customer categories, including private ATM and money services businesses. 
• Conducts suspicious activity report (SAR) investigations, and makes recommendations to the BSA Officer when to file a SAR, and assists the BSA Officer to prepare and submit the SAR. Performs filed SAR review for SAR filing on continued activity.   
• Assist BSA Officer with various duties including preparing for independent audits and regulatory exams as well as delivering BSA/AML/OFAC related trainings to all areas of the organization as needed. 
• Special project participation and task for the department and performs additional duties as requested.
• Provides assistance to Compliance when needed. 
• Satisfactorily completes all required compliance training and complies with all regulations which apply within the scope of the position.
• Performs other duties as requested

Desired Education:

Bachelor’s degree in Business or Finance

Desired Job Experience:

7+ years’ of banking experience with an emphasis on CIP, OFAC, and BSA or equivalent combination of education and experience.

Due to a large volume of applicants, ONLY CANDIDATES WITH THESE SPECIFIC QUALIFICATIONS respond by your resume to:Jwennerberg@mri-boston.com