Risk Analyst I
About The Position
POSITION SUMMARY The Risk Analyst assists in the implementation and administration of all aspects of the Bank Secrecy Act compliance program and assists with various assignments supporting the Compliance Program of the bank, under the guidance of the BSA Officer and Compliance Officer. This position performs various quality controls reviews and monitoring pertaining to the Bank Secrecy Act, Community Reinvestment Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Customer Identification Program compliance using industry standard and regulatory guidance to ensure the Bank’s compliance efforts are maintained daily.
Requirements
- Bachelor’s degree required or equivalent work experience
- Minimum of one (1) years of experience in similar job duties
Responsibilities
- Perform daily review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large currency activity; determines if transactions are suspicious in nature, such as kiting, significant changes in balances, cash structuring in deposits, loans payments, and certificate of deposit purchases, wire or ACH transfers, monetary instrument sales, new account openings, etc.
- Assist in the monitoring of account activity for suspicious patterns and activity, conduct suspicious activity report investigations, high risk customer/account reviews, and recommends when to file Suspicious Activity Reports (SARs). May assist in the filing of the SARs when necessary.
- Assist in the preparation and submission of all Currency Transaction Reports (CTRs) within required timeframes.
- Perform customer and transaction analytics to identify trends and possible suspicious activity.
- Assist with New Account Risk Profiles.
- Assist in the preparation of the BSA Risk Assessment and the updates quarterly.
- Assist with Third Party Risk including requesting, reviewing, tracking, and updating third party risk software and conducting review with vendor officers.
- Assist with Community Reinvestment Act (CRA) reviewing and tracking of volunteer hours.
- Maintain current knowledge of the Bank Secrecy Act, Community Reinvestment Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Customer Identification Program regulations.
- Assist in the administration of the automated BSA/AML/Fraud system, research and resolved alerts and conducts investigations within the system.
- Assist with review involving Data Governance and Physical Security, when appropriate.
- Assist with processing garnishment and subpoena requests.
- Maintain current knowledge of all federal and state laws and regulations, along with the Bank’s policies and procedures.
- Assist in the research of regulatory issues to compliance questions from Bank personnel, using legal and regulatory reference materials, regulatory agencies, as appropriate.
- Perform other related duties and responsibilities as assigned by management.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
