BSA/AML Investigator I at Jefferson Bank

San Antonio, Texas, United States -

Full Time

Start Date

Immediate

Expiry Date

24 May, 26

Salary

0.0

Posted On

23 Feb, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

BSA/AML Investigation, Regulatory Compliance, USA Patriot Act, Customer Identification Program, OFAC, Money Laundering, Transactional Data Analysis, Verafin, Risk Monitoring, Currency Transaction Reports, Suspicious Activity Reporting, Due Diligence, FinCEN 314(b), Jack Henry, TLO Searches, Negative News Searches

Industry

Banking

Description

JOB FUNCTION: The Bank Secrecy Act (BSA)/Anti Money Laundering (AML) Investigator is responsible for providing support to the BSA Manager and BSA & Compliance Officer to maintain compliance with Jefferson Bank’s BSA Program. Responsibilities include the review of regulations relevant to the USA Patriot Act, Customer Identification Program, OFAC, as well as all investigations pertaining to potential money laundering. This person is recognized as a subject-matter expert in BSA/AML operations within the organization as a specialized depth and breadth of knowledge is required. The BSA/AML Investigator will interpret internal and external business issues and recommend solutions and best practices to safeguard the bank against fraudulent or suspicious activity. DUTIES & RESPONSIBILITIES: * Conducts alert review/analysis on transactional data to determine irregular activity through understanding of industry norms, historical customer activity and regulatory definitions of suspicious activity generated by the Bank’s Anti-Money Laundering software system, Verafin. * Identifies high risk customers, products, and services offered by the bank and implements necessary monitoring controls to address potential money laundering risk. * Updates customer accounts according to identified risk factors and history. * Responsible for case creations derived from Anti-Money Laundering (AML)/Bank Secrecy Act (BSA) screening of possible irregular account activity in Verafin during monitoring of high-risk customers (i.e., MSBs, CIBs, ATM owners, C-Stores, DOEP customers). * Rotates with team members to complete/QC/file Currency Transaction Reports (CTRs) electronically ensuring timely submission. * Identifies and acknowledges potential CTRs * Works new account and new CIF reports * Provides guidance and support to business units concerning roles and responsibilities pertinent to their due diligence in the customer identification process. * Develops, recommends, and implements processes and controls to ensure bank compliance with anti-money laundering (AML) rules and regulations. * Reports Suspicious Activity to the SAR Investigators and makes recommendations as deemed appropriate. * Monitors High Risk Customers * Monitors and reviews Money Service Business (MSB) and Cash Intensive customers. * Acknowledges timely implementation of new procedures in compliance with any change in laws and regulations and enhanced due diligence programs. * Provides support and works with branch personnel and other lines of business that report suspicious activity and potential money laundering activity. * Works with various departments to understand alert activity ensuring compliance with laws and regulations. * Possesses working knowledge of current BSA/AML trends. * Possesses knowledge and understanding of OFAC sanctions, laws, rules, and regulations. * Ensures completion of OFAC review and certifications as warranted. * Possesses knowledge and understanding of FinCEN 314(b) rule of the USA Patriot Act. * Ensures completion and review of the 314(A) matches as assigned. * Promotes employee engagement by participating in team meetings and activities. * Responsible for identifying system weaknesses and/or processing errors while reviewing daily work and reporting these to the BSA Manager. * Identifies process improvements to increase the efficiency and effectiveness of the AML process. * Takes initiative to learn new systems and takes advantage of cross training opportunities. * Maintains current knowledge of federal and state laws pertaining to BSA/AML and FACT Act. * Performs other duties, special projects, assignments, tasks, and cross-trains as determined by business needs. * Attends BSA School and/or additional BSA/AML training as available. MINIMUM QUALIFICATIONS: * 3+ years or more of Bank Secrecy Act & Anti Money Laundering work experience. Which includes the ability to identify and interpret BSA/AML rules and regulations to ensure compliance * Proficient spreadsheet and word processing experience * Experience with bank systems including Jack Henry, Xperience and Verafin BSA/AML software * Knowledge of incoming/outgoing flow of funds and compiling supporting documentation * Experience conducting and interpreting TLO and Negative News Searches * Ability to work well with others in a high-pressure deadline driven environment * Demonstrated exceptional attention to detail * Must be a self -starter with strong organizational and communication skills EDUCATION/SKILLS/EXPERIENCE * High School Diploma or Equivalent * Must possess ability to prioritize, focus on tasks required, and be reliable to complete all duties on schedule even though some may be repetitive EQUIPMENT/MACHINES/SOFTWARE * Excellent computer literacy in all Microsoft Programs (Office, Outlook, Word, Excel, and Power Point) * Proficient in Adobe Reader and various internet browsers * Vendor Systems (Jack Henry, Verafin) preferred * Ability to work with office equipment such as personal computers, calculator, copiers, scanners, printers, shredders, phone systems, and fax COMPETENCY REQUIREMENTS * Proven organizational skills with ability to multi-task and follow assigned tasks to completion * Ability to work independently with minimal supervision * Must be accustomed to a fast-paced office environment PHYSICAL REQUIREMENTS * Must be able to reach, bend and lift files & documents up to 30 lbs. * Must be able to sit for most of the day in front of a computer at a workstation * Must be able to type on a keyboard and use a 10-Key calculator * Must be able to speak and hear to communicate with clients, work associates and others * Must be able to read a laptop/computer monitor and other paper reports * Must be able to be mobile in an office environment This job description does not imply an employment contract, nor is it intended to include every duty and responsibility of the employee. Duties and tasks may be assigned by management team based on department and business needs. Jefferson Bank is an EEO employer and an Affirmative Action Employer, M/F/Disability/Protected Veteran Status. Click the link below to be redirected to the Equal Employment Opportunity Commission’s website to view the “Know Your Rights” Poster: https://www.eeoc.gov/sites/default/files/2023-06/22-088_EEOC_KnowYourRights6.12ScreenRdr.pdf [https://www.eeoc.gov/sites/default/files/2023-06/22-088_EEOC_KnowYourRights6.12ScreenRdr.pdf]

Responsibilities

The BSA/AML Investigator supports compliance by reviewing regulations, analyzing transactional data for suspicious activity using Verafin, and conducting investigations related to potential money laundering. Responsibilities also include managing high-risk customer monitoring, updating accounts based on risk factors, and ensuring timely filing of Currency Transaction Reports.