BSA Investigator

Job Description:

Overview

The BSA Investigator is responsible for fulfilling the Anti-Money Laundering/Bank Secrecy Act requirements through identification and investigation of suspicious activity, including but not limited to OFAC laws and the Bank's internal policies and procedures. In addition, a demonstration of extensive banking and compliance knowledge in working with AML/BSA/OFAC related issues, as well as adhere to confidentiality in handling information received in the course of responsibilities.

Principal Duties & Responsibilities:

• Independently analyzes customer activity and background information to detect suspicious activity and determine appropriate actions related to potential red flags, money laundering risks, financial crimes, and terrorist financing.

• Independently determines the extent of analysis and conducts various reviews, including subpoena analysis, 314(a) and 314(b) reviews, unusual referrals, lending referrals, escalated monitoring alerts, and employee reviews essential to the bank's operational integrity.

• Ensures timely and effective transaction analysis and independently identifies potential unusual activity, crucial for compliance and mitigating regulatory fines.

• Determines the need for a Suspicious Activity Report (SAR) and prepares these reports for management review, compiling thorough client and transactional analyses supported by well-documented outcomes.

• Takes ownership of independent risk identification and mitigation within assigned responsibilities, contributing to overall risk management across the organization.

• Advises on relationship retention or closure based on investigative findings and risk assessment.

• Facilitates the identification of procedural weaknesses and recommends additional training needs to strengthen the bank's compliance framework.

• Formulates 314(b) communications to exchange information with other financial institutions, enhancing collaborative efforts in combating financial crime.

• Independently conducts Enhanced Due Diligence (EDD) on clients through comprehensive online research and database analysis.

• Utilizes various bank repositories, internet resources, and public databases for investigative research and analysis.

• Adheres to assigned regulatory and departmental deadlines, contributing to audit preparedness and compliance assurance.

• Prepares SAR backup documentation for law enforcement requests and communicates effectively with law enforcement agencies as required for case management.

• Maintains open communication with all bank departments, providing regular updates to the Financial Intelligence Unit (FIU) Manager and BSA/AML Officer on high-profile cases.

• Keeps abreast of emerging trends and typologies in money laundering and terrorist financing to enhance investigative strategies and findings.

• Executes promptly requests from the BSA/AML Officer, FIU Manager, or Team Lead, ensuring operational efficiency and compliance with directives.

• Undertakes special projects or assignments as requested, demonstrating flexibility and adaptability in addressing evolving compliance needs.

• Independently collaborates with other analysts during absences, ensuring continuity in operations and adherence to investigative standards, thereby supporting administrative exemption.

   

Qualifications

• 5-7 years experience in reviewing and performing AML/BSA reviews. 
• Banking experience and knowledge required.
• Knowledgeable of the laws applicable to money laundering, including the Bank Secrecy Act, the US Patriot Act, OFAC, and Suspicious Activity Reporting.
• Completed and filed SARs to FinCEN.
• Strong analytical skills required to organize and analyze multiple, complete data sets as well as strong interpersonal and organizational skills.
• Excellent attention to detail and “follow through” skills. Strong technical and research skills.
• Strong ability to quickly grasp and understand business unit specific AML risks.
• Strong writing, analytical, and communication skills.
• Ability to understand and draw conclusions from research conducted.
• Takes initiatives, is proactive, self-motivator, self-starter, result driven out of the box thinker.
• Demonstrates desire for excellence and efficiency.
• Knowledge of various systems including core banking systems, Hyland Web Director, BI and Microsoft Office required.
• Strong excel skills with knowledge of Pivot Tables.
• Must have ongoing sense of urgency and high level of flexibility.
• Maintain current on BSA/AML/OFAC news and events as well as regulatory updates.

Licenses & Certifications:

• AML certification a plus, either ACAMS or AML/CA.

Education

• Bachelor's Degree in Business or equivalent work experience required.

Special Instructions to Candidates

• Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
• Please view Equal Employment Opportunity Posters provided by OFCCP here.
• The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
• Reasonable accommodation may be made to assist individuals with disabilities to complete the online application process. Please contact our Human Resources Department at 305-577-7680 or by e-mail at employment@citynational.com.