Job Details
Our client, a global bank, is looking for a consultant who can join for a project which will require being onsite in their Los Angeles branch.
We are seeking a detail-oriented and proactive BSA/AML Compliance Analyst to join our dynamic team. The BSA/AML Compliance Analyst will play a critical role in monitoring and analyzing transactions for potential money laundering, terrorist financing, and other suspicious activities to ensure compliance with Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations.
Responsibilities:
- Conduct investigations and analysis of customer transactions, accounts, and activities to detect and mitigate potential instances of money laundering, fraud, and other illicit activities.
- Review and analyze alerts generated by the Bank's automated monitoring systems, as well as referrals from internal stakeholders, to identify suspicious patterns or behaviors.
- Conduct enhanced due diligence (EDD) reviews on high-risk customers and transactions, including politically exposed persons (PEPs) and sanctioned entities.
- Prepare and file suspicious activity reports (SARs) and other required regulatory reports in compliance with regulatory requirements and internal policies.
- Stay current on regulatory developments, industry trends, and best practices related to BSA/AML compliance, and assist in the implementation of new policies and procedures as necessary.
- Collaborate with internal stakeholders, including Compliance, Legal, Risk Management, and Business Units, to address compliance issues and mitigate risk effectively.
- Assist in the development and delivery of training programs and materials to enhance awareness of BSA/AML compliance requirements across the organization.
Qualifications:
- Bachelor's degree in Finance, Business Administration, Legal Studies, or a related field. Advanced degree or professional certification (e.g., CAMS, CRCM) preferred.
- Minimum of 5 years of experience in BSA/AML compliance or a related field within the banking or financial services industry.
- Strong understanding of BSA/AML regulations, including the USA PATRIOT Act, OFAC sanctions, and FinCEN guidelines.
- Proficiency in using compliance software and systems for transaction monitoring and SAR filing.
- Excellent analytical skills with the ability to interpret complex data and identify suspicious activities effectively.
- Strong communication and interpersonal skills with the ability to collaborate effectively with colleagues at all levels of the organization.
- Ability to work independently and manage multiple tasks in a fast-paced and dynamic environment.