What are the responsibilities and job description for the BSA Compliance Analyst II position at Wellby Financial?
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Position Summary:
This role plays a pivotal part in advancing the organization's strategic objectives by addressing compliance, financial, operational, and reputational risks associated with BSA/Anti-Money Laundering. This position will actively contribute to meeting government regulations aimed at detecting and preventing money laundering. Key responsibilities include providing essential oversight to ensure adherence to all regulatory requirements in alignment with the organizational vision. Using expertise and training, this position will employ objective reasoning while reviewing, monitoring, and investigating transactions through automated systems and other reporting methods. The collaborative nature of this role emphasizes working closely with team members and leaders across the organization to foster a unified approach to risk mitigation and quality assurance.
Principle Duties And Responsibilities
This is a Full-Time, Salary (exempt) role.
Wellby is an equal opportunity and affirmative action employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, national origin, age, disability, genetic information, sexual orientation, gender identity or expression, pregnancy, veteran status or any other legally protected characteristic. If you'd like more information about your EEO rights as an applicant under the law, please contact Human Resources.
Wellby provides equal opportunity to qualified individuals with disabilities and disabled veterans. If you need a reasonable accommodation, please email careers@wellbyfinancial.com or call 281-226-1696 for assistance.
Disclaimer
The statements herein are intended to describe the general nature and level of work being performed by team members and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified. Furthermore, they do not establish a contract for employment and are subject to change at the discretion of the Company.
We're committed to bringing passion and customer focus to the business.
Position Summary:
This role plays a pivotal part in advancing the organization's strategic objectives by addressing compliance, financial, operational, and reputational risks associated with BSA/Anti-Money Laundering. This position will actively contribute to meeting government regulations aimed at detecting and preventing money laundering. Key responsibilities include providing essential oversight to ensure adherence to all regulatory requirements in alignment with the organizational vision. Using expertise and training, this position will employ objective reasoning while reviewing, monitoring, and investigating transactions through automated systems and other reporting methods. The collaborative nature of this role emphasizes working closely with team members and leaders across the organization to foster a unified approach to risk mitigation and quality assurance.
Principle Duties And Responsibilities
- Works with purpose and is driven to provide the best team member experience.
- Willingness and ability to exhibit Wellby Core Values every day.
- Provide backup support to Level I team members as needed.
- Exercise discretion and independent judgment when reviewing incoming CTRs/SARs to ensure appropriate information has been captured, and recommend SAR or No-SAR decision for filing, and complete detailed narratives of investigation finding in the form of a SAR or no SAR memo.
- Ensure timely submission of required regulatory filings, including the filing of Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) according to Financial Crime Enforcement Network (FinCEN) guidelines.
- Work cooperatively with business lines to establish procedures for identifying suspicious member transactions specific to money laundering, including the proper reporting activity to Compliance.
- Maintain BSA/AML/OFAC program and procedure updates as needed to adjust for process revisions or regulatory changes.
- Perform and update annual BSA/AML/OFAC Risk Assessment and board report.
- Assist with the following administrative tasks:
- Ensure quality control standards and technical aspects of SAR and CTR filings are compliant with regulatory guidelines.
- Tracking and reporting of KPIs related to BSA/AML filings to ensure regulatory compliance.
- Implementation of BSA/AML detection and prevention methods, such as training and instruction manuals.
- Prepare various reports as requested.
- Monitor account activity to ensure compliance with all OFAC requirements. Clear OFAC false positive hits on wires, ACH, and new memberships opened digitally and in branch locations.
- Complete daily/monthly reviews of monetary instrument (MI) purchases
- Complete and follow-up with information sharing requests (314a and 314b) as needed.
- Review and fulfill requests related to subpoenas or other legal documents.
- Maintain all business affairs of both internal and external members confidentially.
- Complete all required, ongoing enterprise-level training including, but not limited to, BSA, OFAC, Privacy, and Information Security.
- Maintain the highest levels of integrity and professionalism.
- Performs other duties as assigned.
- Knowledge of Wellby’s organizational functions, and general operating policies and procedures.
- Knowledge of secretarial practices and procedures, business English, spelling, and punctuation.
- Knowledge of the personal computer, utilizing Microsoft Office Suite Banno, Doxim, Image Center, Lexis Nexis, Meridian Link, Open Text, Symitar, Verafin, Verkada, Visa Online, Wire Exchange, Ncomply, Currency Exchange and other software’s.
- Skilled in operating office equipment and general machines such as personal computer, copier, projection equipment, audio/video, Microsoft Teams, Zoom Video Communications, and adding machine.
- Ability to communicate information and ideas office so others will understand. Must be able to exchange accurate information in these situations.
- Ability to multi-task, maintain accuracy, and meet deadlines in a fast-paced, high-volume environment.
- Ability to use strong investigative and analytical skills, including documenting findings to support account reviews
- Ability to efficiently understand and follow oral and written instructions, perform routine duties without close supervision and establish and maintain effective working relationships with other team members.
- Ability to communicate clearly and concisely, orally and in writing with members and team members..
- Ability to work individually or as part of a team to achieve results.
- Team member does not have any supervisory responsibilities.
- The team member performs a moderate number of routine and generally related tasks without supervisory direction.
- Instructions to the team member may be general or specific in nature.
- Courses of action are determined by established procedures and/or their leader.
- The team member’s work is reviewed periodically for accuracy, completion, and compliance with the policies and procedures.
- Tasks may occasionally have to be coordinated, integrated, and/or prioritized.
- The physical demands and work environment characteristics described here represent those that must be met by a team member to successfully perform the essential functions of this position. Reasonable accommodations may enable individuals with disabilities to perform the essential functions.
- To perform this job successfully, the team member is frequently required to remain in a stationary position 50% of the time. Daily movements include sitting; standing, reaching, and grasping, operating computers and other office equipment, moving about the office; and attending to possible onsite and offsite meetings. The team member must be able to exchange information, in person, in writing and via telephone. Some degree of stress results from contact with leadership, management, members and other team members.
- The ability to observe details at close range (within a few feet of the observer).
- Must be able to occasionally lift items weighing up to 25 pounds across office and load onto shelves for various needs.
- The noise level in the work environment is usually moderate.
- Work involves the typical risks and discomforts associated with an office environment but is usually in an area that is adequately cooled, heated, lighted, and ventilated.
- Associate degree and/or an equivalent combination of education and experience.
- Minimum of three (3) years financial institution experience working in compliance operations, preferably Know Your Customer/Customer Identification Program at a financial institution
- Ability to obtain Certified Anti Money Laundering Specialist (CAMS), Bank Secrecy Act Compliance Specialist (BSACS), or NAFCU Certified Bank Secrecy Officer (NCBSO) preferred or within one (1) year of employment.
- Excellent communication skills.
- Excellent organizational and time management skills
- Bondable
This is a Full-Time, Salary (exempt) role.
Wellby is an equal opportunity and affirmative action employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, national origin, age, disability, genetic information, sexual orientation, gender identity or expression, pregnancy, veteran status or any other legally protected characteristic. If you'd like more information about your EEO rights as an applicant under the law, please contact Human Resources.
Wellby provides equal opportunity to qualified individuals with disabilities and disabled veterans. If you need a reasonable accommodation, please email careers@wellbyfinancial.com or call 281-226-1696 for assistance.
Disclaimer
The statements herein are intended to describe the general nature and level of work being performed by team members and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified. Furthermore, they do not establish a contract for employment and are subject to change at the discretion of the Company.
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