BSA/Regulatory Compliance Analyst

BSA & Regulatory Compliance Analyst

Assist with NCB’s compliance with the Bank Secrecy Act including the U.S. Patriot Act and OFAC and day to day Verafin operations. (80%)

• Assist with the monitoring of all customer deposit activity including cash, checks, wire, ACH, etc., by using the automated software, Verafin.
• Perform initial review of all alerts generated in the Verafin system and gather additional documentation to support decisions on the alerts.
• Perform analysis of behavior sets/reviews in the Verafin system and provide the Bank Secrecy Officer and OFAC Officer with a recommendation on changes to various behavior settings.
• Conduct enhanced due diligence information gathering and initial reviews for the annual review process of high-risk customers.
• Maintain and distribute various watch list/internal list in the Verafin system by reviewing information including the following: the Special Designated Nationals 314a List, Section 311 Special Measures List, OFAC Sanctioned Countries & Entities, Tax Havens and Offshore Financial Centers, Major Drug Transit and Drug Producing Countries List.
• Complete reviews of wire transfer exceptions presented by the Wire Department.
• Provide support in the process of SAR reporting by assisting in the investigation of suspicious activity.
• Assist with the data integrity within the Verafin system such as addressing missing or inaccurate data points.
• Monitor the information gathering process in conjunction with customer due diligence procedures to ensure employee are gathering all required information.

Assist with the update of the regulatory risk assessments and the annual regulatory compliance reports. (10%)

• Assist the update of the regulatory risk assessments and annual regulatory compliance reports including: BSA. 

Assist in the reporting on the status of regulatory compliance activities to various internal Bank and external Board Committees. (10%)

• Assist in the reporting on the status of the regulatory compliance activities to various internal Bank and external Board Committees including:
  • • Quarterly SAR report
    • Monthly BSA review schedule

Minimum Qualifications:

Two to five years of banking and regulatory compliance, preferably with BSA/AML/OFAC

A college degree is preferred but job-related banking and regulatory experience can be substituted

Integrity is essential given the nature of the position

Knowledge of banking regulations and laws is preferred

Knowledge of regulatory compliance best practices is preferred

Excellent teamwork/collaboration skills

Effective communication – both written and verbal

Excellent attention to detail and well organized

AA/EOE