What are the responsibilities and job description for the Bank Secrecy Act Analyst I, South Bend, IN position at 1st Source Bank?
POSITION SUMMARY
Responsible for analyzing reports and conducting investigations to ensure that customer account activity is not in violation of the Bank Secrecy Act (BSA) or the Office of Foreign Assets Control (OFAC) regulations.
ESSENTIAL REQUIREMENTS
- Works as a team member of the BSA/AML Compliance Department to ensure that 1st Source Bank maintains compliance with the BSA and OFAC regulations.
- Conducts investigations into customer account activity that has been identified as suspect so that a determination may be made as to any reporting that may be required under the BSA.
- Analyzes reports to ensure that the bank files Currency Transaction Reports or any other reports as may be required by the BSA or OFAC regulations.
- Conducts appropriate reviews as prescribed by the BSA of any accounts that the bank may elect to exempt from the BSA reporting requirement.
- Analyzes reports in order to detect customers that may be conducting transactions just under the BSA reporting threshold or other suspicious activity.
- Processes Financial Crimes Enforcement Network (FinCEN) 314(a) list and reports back to FinCEN any accounts for those on the 314(a) list.
- Responsible for the completion of all compliance training related to the position.
- Must understand all applicable laws and regulations that apply to the position and comply with the requirements.
- Review customers and documents at account onboarding for compliance to the customer information program (CIP).
- Review changes in customers transaction behaviors to determine if a money laundering risk is present.
- Liaison with branch banking centers and various business partners on BSA AML compliance matters and changes in transaction patters.
- Review Beneficial Ownership data and documents for new customers and new accounts for existing customers.
- Report to business units and branches for missing CIP/KYC, CTR, and BOR documents/data.
NON-ESSENTIAL FUNCTIONS
Performs all other duties as assigned.
EXPERIENCE/SKILLS
- Two or more (2) years’ experience in banking, auditing and/or legal experience preferred.
- Knowledge of the requirements of the Bank Secrecy Act and OFAC regulations preferred.
- Knowledge with the Bank’s IntraCheck (Image System) program preferred.
- Knowledge of the Bank’s Central Information File (CIF) preferred.
- Understanding of teller transactions and how they are processed preferred.
- Good analytical abilities.
- Internet skills.
- Good PC skills--proficiency in Microsoft Word and Excel essential.
- Good organization and administrative skills.
- Ability to handle multiple tasks in a fast-paced environment.
- Good communication skills (both written and verbal).
- Friendly courteous disposition with the ability to work in a team player in an environment.
- Maintains confidentiality of work files.
- Good customer service skills (internal and external).
EDUCATION
Bachelor’s Degree preferred.
TRAVEL REQUIREMENTS
Minimal travel, ability to travel over night, as needed for meetings, projects, seminars, etc.
PHYSICAL DEMANDS
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals to perform the essential functions.
While performing the duties of this job, the employee is required to sit, stand and walk; use hands and fingers to operate keyboard and other office equipment; reach with hands and arms; and talk or hear. The employee is occasionally required to stoop or kneel. The employee may occasionally lift and/or move up to 10 pounds.
EQUIPMENT
MS Office PC, fax, phone and standard office equipment.
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