BSA Risk Analyst I, AVP

Eastern Bank • Wakefield, MA

1d

About The Position

The cornerstone of a strong BSA/AML (Bank Secrecy Act/Anti-money laundering) compliance program is the adoption and implementation of comprehensive risk policies, procedures, and processes for all areas of the bank for BSA related risk, particularly those that present a higher risk for money laundering and terrorist financing. The objective is to be able to ensure the proper controls are in place and working effectively to mitigate these risks. Reports to VP, BSA Risk Manager.

Requirements

• Significant knowledge of principles of BSA related regulations and Eastern Bank BSA and anti-money laundering policy and procedures.
• In addition, this position will provide informational support to Business Line team members and the internal departments and recognize when situations warrant the attention of the BSA Risk Manager or Bank Secrecy Officer.
• Must possess 5+ years of specialized experience in BSA compliance with 3 years’ experience in BSA risk monitoring.
• Interpersonal Relationships – Ability to work with a variety of individuals and groups in a constructive and collaborative manner.
• Ability to manage and/or track multiple assessments in a risk-based manner.
• Strong written and verbal communications skills as well as good organizational skills.
• Metavante, BIC (Business Intelligence Center) report, and Archer GRC experience.
• Must have the ability to maintain accuracy when under pressure and tight time constraints and must continually be detailed-oriented.
• Audit experience preferred

Responsibilities

• Analyzes and evaluates compliance risks and recommends changes to policies, procedures, processes to reasonably ensure risk-based and appropriate controls are implemented and maintained, Recommends new and/or updates policy and procedures related to BSA, AML, OFAC and the USA PATRIOT Act Bank wide.
• Responsible for the monitoring, analyzing, and identifying risk and controls, and escalating issues and concerns, related to BSA, AML, and OFAC (Office of Foreign Asset Control) and the USA Patriot Act components of the Banks’s BSA Program while utilizing sound and current compliance industry’s standards and practices.
• Develop, document, and execute sound methodology to identify and assess BSA related risks that may affect the BSA/AML program by carrying out assessments, second line testing for high-risk services or entities, enterprise-wide department visits, and internal control testing within the BSA area.
• Develop, maintain, and execute annual schedule for the above.
• Provides on-going support to the department manager; and acts independently in the daily pursuit and conduct and decisioning for the above functions.
• In support of the department manager and business units, participate or lead new initiative BSA assessment in Archer when applicable.
• Responsible for decisioning of new initiatives within Archer as to whether BSA assessment required.
• Maintain and contribute to monthly BSA metrics.
• Keep abreast of current BSA industry news and regulations and prepare monthly update to BSA management.

Benefits

• Remote work flexibility
• Growth opportunities
• Great Benefits
• Strong culture
• Work life balance
• comprehensive compensation plans
• benefits program called Total Rewards that includes medical, dental, vision, life and disability insurance, retirement, vacation and tuition reimbursement

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed