Position Summary: The BSA/AML Analyst is responsible for conducting Enhanced Due Diligence (EDD) reviews and ongoing monitoring of the bank’s high-risk customers. This includes Money Services Businesses (MSBs), privately owned ATMs, Non-Profit Organizations, foreign entities, marijuana-related businesses (MRBs, where permitted), and other customer types flagged by the institution’s risk rating model. The analyst plays a key role in ensuring the bank meets BSA/AML regulatory expectations related to customer due diligence (CDD), EDD, and suspicious activity detection.
Key Responsibilities:
Conduct comprehensive EDD reviews for customers classified as high risk, including MSBs, MRBs (where permitted), foreign entities, privately owned ATMs, and other flagged categories.
Analyze customer profiles, account activity, geographic exposure, ownership structure, and expected vs. actual transaction behavior.
Review and document ownership structures, business operations, regulatory registrations, licenses, and transactional behavior.
Request and analyze source of funds/source of wealth documentation when applicable.
Communicate directly with internal teams to obtain and clarify required EDD documentation.
Ongoing monitoring of high-risk clients
Maintain detailed, audit-ready documentation for all EDD reviews, including risk rating justifications and review outcomes.
Risk rating and CDD system support
Assist with onboarding reviews of high-risk customers and recommend initial risk ratings.
Participate in periodic or event-driven risk rating reviews and recommend adjustments based on updated customer information.
Ensure data in core and compliance systems (e.g., business type, occupation, expected activity) matches documentation and remains current.
Regulatory Awareness & Collaboration:
Remain current with BSA/AML, OFAC, and FinCEN guidance, especially as it pertains to high-risk industries.
Collaborate effectively in a virtual team environment with BSA officers, compliance staff, account officers, and operations teams.
Participate in remote meetings, training sessions, and regulatory exam support as required.
Qualifications:
High school diploma or GED required; Associate or Bachelor’s degree in Business, Criminal Justice, Finance, or a related field preferred.
2–4 years of experience in BSA/AML compliance, with direct experience performing EDD reviews or high-risk customer analysis preferred.
Experience with BSA/AML software platforms (e.g., Verafin, CSI NuPoint) is a plus.