JOB DESCRIPTION

Job Title: EDD Analyst
Department: Compliance
Classification: Non -Exempt
Reports to: EDD Manager

SUMMARY/OBJECTIVE:

Responsible for reviewing high risk customers, products and services under the Bank’s enhanced due diligence program (EDD), and ensuring the bank’s compliance with and Bank Secrecy Act /AML regulations.
Essential Functions:

Include the following. Other duties may be assigned.

• Conduct due diligence research/investigations on all new and existing accounts high risk accounts and ensure that all required information for compliance with the USA Patriot Act, Section 326 and the Bank’s Customer Identification Program & Enhanced Due Diligence Program (CIP/EDD) is collected at account opening and ensure procedures are adhered to.
• Interact with business line personnel, AML and BSA teams to understand client behavior and communicate activity of interest and/or concern.
• Review transactional data to identify activity commensurate with customer relationships that pose a higher risk of money laundering or terrorist financing.
• Conduct onboarding and quarterly high-risk rating reviews and assist in the preparation of reports to management.
• Conduct ongoing monitoring/analysis of customers for possible changes to risk rating.
• Conduct in-depth research into customer accounts, properly document findings and communicate with account officers requesting information to ascertain if activity is permissible by regulation.
• Recommend and support escalation of unusual or potentially suspicious activity to the AML team for investigation and SAR filing.

REQUIRED EDUCATION AND EXPERIENCE:

Bachelor’s degree from an accredited four-year college or university in Business, Finance, Accounting or Law; or 1 to 3 years related work experience and/or training; or equivalent combination of education and experience.

ADDITIONAL QUALIFICATIONS:

CAMS Certification or ability to attain within 6 months.

LANGUAGE/COMMUNICATION SKILLS:

Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers.

RISK MANAGEMENT RESPONSIBILITIES:

• provide first line with advisory guidance and routinely monitor for compliance, assess risks and the activities to mitigate the risks.
• has sufficient authority, stature, independence, resources and access to the Board & executive management to raise risks and concerns.

Include the following. Other duties may be assigned.

• Conduct due diligence research/investigations on all new and existing accounts high risk accounts and ensure that all required information for compliance with the USA Patriot Act, Section 326 and the Bank’s Customer Identification Program & Enhanced Due Diligence Program (CIP/EDD) is collected at account opening and ensure procedures are adhered to.
• Interact with business line personnel, AML and BSA teams to understand client behavior and communicate activity of interest and/or concern.
• Review transactional data to identify activity commensurate with customer relationships that pose a higher risk of money laundering or terrorist financing.
• Conduct onboarding and quarterly high-risk rating reviews and assist in the preparation of reports to management.
• Conduct ongoing monitoring/analysis of customers for possible changes to risk rating.
• Conduct in-depth research into customer accounts, properly document findings and communicate with account officers requesting information to ascertain if activity is permissible by regulation.
• Recommend and support escalation of unusual or potentially suspicious activity to the AML team for investigation and SAR filing