Job Description
Job Description How will this role impact First Command? The Senior BSA/AML Analyst ("Sr. Analyst") serves as a lead-level contributor within First Command Bank's ("Bank") BSA/AML and OFAC Compliance Program. Working under the direction of the BSA/AML Compliance Officer and supporting the SVP, Bank Compliance Officer. The Sr. Analyst is principally responsible for leading the daily monitoring, oversight, and execution of key components of the Bank's BSA/AML and OFAC Compliance Program.
The Sr. Analyst ensures the Bank maintains compliance with all applicable BSA, AML, and OFAC laws and regulations through effective monitoring, investigations, quality control, reporting, risk assessments, and ongoing program maintenance. This position plays a critical role in protecting the Bank from regulatory, operational, and reputational risk and frequently acts as a subject-matter resource for peers and business partners.
What will the employee do in this role? - Serve as a lead resource supporting the BSA/AML Compliance Officer in the oversight, enhancement, and daily administration of the Bank's BSA/AML and OFAC Compliance Program.
- Provide guidance, training, and technical support to junior analysts on investigations, alert handling, documentation, and regulatory interpretation.
- Assist with maintaining and updating the BSA/AML, OFAC, and related compliance policies and procedures.
- Conduct manual monitoring reviews (cash transaction reports, credit card activity, gift cards, wealth management, monetary instruments, and OFAC).
- Review AML and OFAC alerts and conduct advanced investigations to determine possible suspicious activity; escalate to the BSA/AML Compliance Officer and SVP, Bank Compliance Officer as necessary.
- Conduct high and moderate risk periodic EDD reviews for suspicious activity and ensure accuracy of risk rating and escalate to the BSA/AML Officer for further review.
- Conduct customer due diligence (CDD) onboarding reviews.
- Conduct monthly CDD/EDD alerts within the AML system.
- Conduct Financial Crimes Enforcement Network (FinCEN) 314(a) information requests accurately and timely
- Complete assigned escalated cases including investigation and documentation within the AML system for the SAR Committee.
- Prepare Suspicious Activity Reports (SARs) including the narrative timely and accurately for quality control review within the AML system before submission.
- Prepare Currency Transaction Reports (CTRs) timely and accurately within the AML system before submission.
- Maintain SAR filed/not-filed logs, supporting documentation, and ensure adherence to documentation retention requirements.
- Gather information from outside resources such as Internet searches, third-party vendors, public records, articles, etc.
- Serve on the SAR Committee.
- Assist with BSA/AML, OFAC, and other related quality control review processes.
- Assist and maintain the data collection for the annual BSA/AML and OFAC Risk Assessments and MLR.
- Serve as a backup with BSA/AML and OFAC tasks within the department
- Assist with any project assigned by the BSA/AML Compliance Officer or the SVP, Bank Compliance Officer.
- Provide lead-level support during audits, regulatory examinations, and independent reviews.
- Attend the Bank's Compliance Committee.
- Maintain awareness of changing BSA/AML and OFAC regulatory requirements, industry trends, and emerging risks.
Authorities Information Access - The BSA-AML Analyst III has authority to access, monitor, and report on sensitive Bank, customer, transaction, and employee information related to the position's duties to ensure compliance with regulatory requirements.
Cross Functional Relationships Internal: - Members of the Fraud Team
- SVP, Bank Compliance Officer
- VP, Fiduciary and Compliance Quailty Control
- All Line of Business Management including Senior Leadership
- Technology (Business Analyst)
External: - Compliance professionals at other financial institutions to understand industry standards, emerging risks, and best practices.
- Industry associations working groups, such as: ACAMS, ABA (American Bankers Association), and Compliance Alliance
What skills and qualifications do you need? Education - Bachelor's degree required; equivalent experience may be considered.
Work Experience - At least 10 years Banking experience required, with experience within a Banking BSA-AML highly preferred.
- At least 3+ years experience in BSA-AML monitoring function required, with exposure to consumer and business deposit banking highly preferred.
- Banking software (e.g. Jack Henry, Cognos, Verafin, Patriot Officer, or Actimize) experience preferred.
- Relevant certification (e.g. ACAMS or equivilant) preferred.
Required Knowledge, Skills, and Abilities - Excel and Word proficiency highly desirable; reviews frequently require independently obtaining data from various systems for detail review.
- Must be detail-oriented and possess strong communication and organizational skills.
- Excellent independent research, problem solving and analytical skills with the ability to review large amounts of data and disposition consistently and appropriately.
- Demonstrated knowledge and understanding of the required elements of a BSA/AML and OFAC compliance program.
- Demonstrated ability to perform research, including reading regulations and independently using industry resources to form an opinion.
- Strong ability and motivation to learn.
- Public speaking and narrative writing skills.
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