Compliance Analyst
Required skills
- BSA/AML
- CTR
- SAR
- OFAC
- 314A
- Transaction Monitoring
- Internal Controls Testing
- Risk Identification
- Vendor Management Policy
- Regulatory Compliance
Nice to have
- Some college
- Banking Experience
Role summary
The Compliance Analyst supports the BSA Officer or Compliance Officer by monitoring transactions for policy and regulatory compliance. Responsibilities include identifying and mitigating risks through report analysis, internal control testing, and collaboration. The role involves reviewing account activity, performing BSA/AML reviews, preparing reports (CTRs, SARs), managing CTR exemptions, reviewing OFAC and 314A lists, maintaining vendor management documentation, staying updated on new laws, and assisting with compliance exams. Proficiency in Microsoft Office and strong analytical skills are required.
Description
Title: Compliance Analyst
Job Summary:
The Compliance Analyst works under the direction of the BSA Officer or the Compliance Officer and performs duties related to monitoring transactions for compliance with policy and regulation. The Compliance Analyst is responsible for supporting risk identification and mitigation strategies through monitoring system reports and trends, performing testing of internal controls, and coordinating with coworkers to maintain an appropriate level of risk.
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
Duties/Responsibilities:
- For assigned lines of business and/or regulations, review and analyze account activity to verify data integrity, correct errors, or identify illicit financial activity.
- Perform various BSA/AML reviews required to identify and mitigate risks associated with money laundering and terrorist financing.
- Prepare various BSA/AML reports including CTRs and SARs.
- Identify eligibility and maintain documentation for CTR exemptions.
- Download OFAC and 314A lists and perform review of potential matches.
- Maintain documentation required by the vendor management policy.
- Keep abreast of new laws and regulations.
- Assist with regulatory compliance exams.
Requirements
Required Skills/Abilities:
- Ability to exhibit our core values; Integrity, Enthusiasm, Accountability, Excellence, Customer First, Professionalism, and Respect.
- Identify and report risks that could impede the reputation, safety, security, or financial success of the bank.
- Ability to comprehend and interpret federal and state laws that apply to the designated lines of business.
- Proven ability to work in a team environment.
- Excellent organizational skills and attention to detail.
- Sound decision-making skills; able to make decisions independently and quickly.
- Flexibility to adapt to regulatory or policy changes.
- Strong problem solving/analytical skills.
- Proficient with Microsoft Office or related software.
Education and Experience:
- High school diploma. Some college preferred.
- Two plus years banking experience preferred.
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