Bank Secrecy Analyst

Welcome to PeoplesBank! We are the largest mutually chartered bank in Western Mass and Northern Connecticut and a leader in green values, sustainable energy financing, and charitable giving. We operate in the best interest of our customers and strive to be an inclusive and engaging work environment. We offer excellent compensation, workplace flexibility, and a competitive benefits package to our associates. Our award-winning culture has earned us recognition as Best Place to Work and Best Local Bank. Come join our team of dedicated and innovative individuals and contribute to our dynamic, successful organization. Summary: The Bank Secrecy Analyst assists in the administration of all aspects of the Bank Secrecy Act compliance program and assists with various assignments supporting the Compliance Program of the bank. This position is on-site based out of Holyoke, MA. Essential Duties and Responsibilities include the following. Other duties may be assigned Partners with the Assistant BSA Officer, Bank Secrecy Analysts and business line management to ensure compliance with the Bank Secrecy Act, Anti Money Laundering, USA Patriot Act, and OFAC. Uses BSA Department email box for all communication with others regarding BSA issues so that all BSA Department members are aware of issues and able to assist other employees. Identifies all single and aggregate cash transactions more than $10,000.00 to determine if CTR filing is required. Ensures necessary forms are received from Banking Center Personnel Reviews CTR Worksheets submitted by Banking Center Personnel for completion and accuracy. Completes CTR's daily for all qualifying aggregate cash transactions accurately within required time and provide to Sr. BSA Specialist for review and filing with FinCEN. Identifies errors in BSA documents received from either Retail or other Departments and notifies the appropriate individual of changes made or needed Pulls copies of monetary instruments cleared over $8,000 to be used for quarterly review. Perform quarterly monetary instrument review of payees and endorsements over $8,000 and quarterly review of all wire transfers and document review in Verafin Perform monthly possible MSB's review using state and federal databases. Perform daily review of monetary instrument forms not received. Perform 314a tasks as lists from FinCEN are released. Perform daily tasks to identify possible suspicious activity utilizing the following reports: OFAC Report Review Monetary Instruments Forms Kiting Report ACH Daily Report Review Supervisor Override Report ATM, Currency Exchange log reviews for correctness, completeness and notify BSA dept. members of any potential suspicious activity New Business Account form review and upload to Verafin CTR E-filing and update submission spreadsheet Download SDN List when updated by FinCEN Verify WITS is current with OFAC listing Update Task list daily Update Bank watch list daily Verafin Watch List & Verafin Wire errors Reviews Zynlo tickets Report findings and provides analysis of significant transactions or unusual activity to the Assistant BSA Officer and/or BSA Officer. Makes recommendation for closure of accounts to Assistant BSA Officer and provides documentation and analysis for recommendation. Perform weekly review of subpoena log and open case in Verafin, if necessary Perform monthly monitoring of ACH Credit Report to identify possible suspicious activity Perform daily monitoring to identify possible suspicious activity utilizing the following reports: BSA Logs for Currency Exchanges Perform annual monitoring to identify possible suspicious activity and ensure compliance with all required documentation : Non-Bank ATM Lottery License BSA Exemption Review Utilizes Verafin software and BSA databases to perform comprehensive BSA monitoring Upload Vendor to Verafin for OFAC monitoring Clears alerts and add any suspicious activity to Bank's Internal Watch List for further reviews Reviews new business account documentation and uploads all Beneficial Ownership Information Documents all Bank Secrecy Act activity and maintains accurate and complete files, as well as clearly communicates any issues to the Assistant BSA Officer and/or BSA Officer. Utilizes BSA databases for suspicious activity monitoring and makes recommendations for any enhancements to databases. Maintain all related documents pertaining to BSA and archiving of documents, review and update departmental procedures annually. Provides guidance and BSA specific training, as needed, to banking centers and departments Maintain a high degree of knowledge of BSA and related regulations and requirements by attending meetings and or seminars/webinars. Performs related or unrelated duties as may be requested. Completes all yearly compliance training and testing and complies with bank, federal, and state regulations. Complies with Bank Policies and Procedures. Adheres to departmental and bank-wide service standards. Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Education and/or Experience: Bachelor's degree (B.A.) from four-year College or university; or one to two years related experience and/or training, or equivalent combination of education and banking experience. Skills needed: Strong analytical, problem solving and organizational skills Ability to resolve complex issues through in-depth analysis and research Excellent verbal and written communication skills. Able to work effectively across banking lines and with staff at all levels Comprehensive understanding of general banking compliance regulations and laws Comprehensive understanding of general banking operations activities, products, and services Certifications, Licenses and/or registrations: N/A Computer Skills: Knowledge of computer applications including Word and Excel. Work Environment and Physical Demands: The working conditions and physical demands described here are representative of those that must be met by an associate to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the associate is regularly required to sit, use hands to sort, write and keyboard, and to listen and speak. The associate is frequently required to reach, walk, stoop, crouch. The associate is occasionally required to stand, lift, bend, drive and travel.

Created: 2024-11-17