Overview: The BSA Analyst supports the BSA-Compliance Officer by monitoring the day-to-day Bank Secrecy Act, USA Patriot Act, and Office of Foreign Assets Control. The principal duty includes conducting high-risk customer reviews utilizing the bank’s resources (system software, reports, databases, and system applications) and analyzing and monitoring high-risk accounts and corporate structures for irregular transactions. This position will require research preparation, investigations, and EDD reviews on all high-risk customers.
Accountabilities:
Perform daily review of reports, monitoring and analyze transactions to identify trends and unusual activity, and monitor large currency activity; determine if transactions are suspicious, such as kiting, significant changes in balances, cash structuring in deposits, loan payments, and certificate of deposits, wire or ACH transfers, monetary instrument sales, new account openings, etc., and take appropriate action to escalate any detections within the BSA Department.
Experience in developing and implementing policies and procedures centered on
BSA/AML/CIP/OFAC.
Experience adjudicating OFAC and Transaction Monitoring alerts
Assist in the compliance with 314(a) and 314(b) (PATRIOT Act) responsibilities.
Assist with administration of the automated BSA/AML/Fraud system, research and resolve alerts, and conduct investigations within the system.
Lead the firm's periodic assessment of the risks presented by its business lines under
Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and the Office of Foreign Asset
Control (OFAC) rules.
Ensure that the Risk Assessments comply with the FFIEC Exam Manual and meet the expectations of management, internal auditors, and external regulators.
Establish and maintain an inventory of controls and reporting of established metrics.
Assist with gathering information for the reporting process.
Assist with account activity monitoring for suspicious patterns and activity, conduct suspicious activity report investigations, high-risk customer/account reviews, and recommend when to file Suspicious Activity Reports (SARs). May assist in the filing of the SARs when necessary.
Participate in ongoing training to maintain current knowledge of BSA, AML-related, OFAC regulatory requirements, and federal and state laws and regulations.
Qualifications:
College degree, or equivalent banking experience.
Two – four years of BSA/AML experience and a desire to work towards Certified Anti-
Money Laundering Specialist (CAMS) certification.
Strong decision-making, analytical, and investigative abilities with attention to detail and accuracy.
Understanding of FFIEC Examination Manual.
Knowledge of high-risk customer attributes and monitoring, Customer Due Diligence
(CDD), and Enhanced Due Diligence (EDD)
Ability to proactively identify and assess potential concerns and risks and resolve issues.
Critical thinking skills to research, collect, and analyze complex or diverse information.
Effective, verbal, written, and interpersonal communication skills with the ability to instruct others; train personnel; write reports, correspondence, and procedures; and speak clearly to customers and employees.
International Bank of Chicago is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, sexual orientation, gender identity, disability, protected veteran status, or any other characteristic protected by state, federal, or local law.
Job Type: Full-time
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Referral program
- Vision insurance
Physical setting:
Schedule:
- 8 hour shift
- Day shift
- Monday to Friday
- No weekends
Education:
Experience:
- BSA-AML: 2 years (Required)
- EDD Reviews: 2 years (Required)
License/Certification:
- CAMS certified (Required)
Ability to Commute:
- Bellwood, IL 60104 (Required)
Work Location: In person