BSA Fraud Analyst

POSITION SUMMARY:  Work through daily reporting to identify and research suspicious or fraudulent activity.  Ensures compliance with the Bank Secrecy Act (BSA) and the Office of Foreign Assets Control (OFAC). This includes completing and filing accurate and timely reports, evaluating and monitoring accounts, and researching and interpreting federal and state regulations.

 PRIMARY RESPONSIBILITIES AND ACCOUNTABLILIES:   (90%)

• Investigate anti money laundering (AML) and fraud alerts in the BSA software and from a variety of reports by researching account activity, creating cases, and saving supporting documentation within the software.
• Evaluate alerts to identify the occurrences of fraudulent activity and monitor trends. 
• Review new accounts and CIFs to ensure proper compliance and documentation have been obtained.
• Review and complete BSA forms, Currency Transaction Reports (CTR) and Suspicious Activity Reports (SAR) for accuracy and timely filing.
• Track, file, and review CTR exemptions; respond to FinCen 314 request; report OFAC matches and block or reject transactions.
• Identify and monitor high risk accounts and perform and document enhanced due diligence efforts.
• Ensure cash purchase logs are processed accurately with the required information.
• Monitor internal reports for parameter, security, and account changes.
• Identifies and recommends change requests for reports and alerts by evaluating trends to prevent money laundering and fraud. 
• Maintain up to date knowledge of all BSA regulations and FinCEN requirements.