BSA/AML Analyst Job at SFB, Salem, MA

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  • SFB
  • Salem, MA

Job Description

Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers. This position requires the ability to work in the Salem, MA offices. Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families. Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we're all about. ESSENTIAL DUTIES AND RESPONSIBILITIES include the following: Assists with the development and, implementation of the Bank's Secrecy Act and AML Program; makes recommendations to Management when appropriate; and is required to submit reports to the Management detailing the Bank's BSA and AML investigations. Other duties may be assigned from time to time due to business necessity. Key Responsibilities: Using the Bank's AML/Fraud Monitoring system, investigate and assess alerts relating to potential money laundering and fraud risks in the organization; make use of transactional and customer records, reports and publicly available information to identify and research patterns and anomalies in customer data to detect suspicious activity related to money laundering, underlying criminal activity or structuring; document investigations of unusual banking activity to support decision-making for federal Suspicious Activity Reports; provide investigative results to the Bank's AML Committee for review. Prepare clear and accurate Suspicious Activity Reports for filing with the federal government. Complete daily Currency Transaction Reporting processing, ensuring timely and accurate filing. Using the AML/Fraud Monitoring software and system reports, identify high risk customers for enhanced due diligence (EDD). Maintain accurate and complete records on the Bank's high risk customers, including documentation of enhanced monitoring. Investigate unusual/suspicious activity reported by the various divisions and advise the AML Committee accordingly. Assist in the development and administration of BSA/AML training and awareness programs for staff. Perform and document the review of the Bank's Exempt Customer List in compliance with IRS rules and file required exemption renewals on a timely basis. Record and monitor sales of monetary instruments for unusual activity and document patterns. Provide periodic reports of same to the AML Committee. Be knowledgeable on all aspects of the Bank's BSA/AML Program and be prepared to answer questions from Bank staff regarding these requirements. Provide general support to the Assistant BSA Officer and BSA Officer as needed. Help in identifying potential weaknesses in processes and make recommendations for improvement. Be compliant with all applicable banking laws and regulations as defined in bank policies and procedures pertinent to this position. Stay current with money laundering and terrorist financing behaviors, issues, policies, regulations, criminal typologies, industry best practices, and developing trends. Assumes additional responsibilities as required. Regular attendance is essential to this position. EDUCATION and EXPERIENCE At least two years of related banking experience. Must have knowledge of Bank Secrecy Act regulations and requirements and general knowledge of money laundering. Associates degree (A.A.) or equivalent from a two-year college or technical school preferred.

COMPUTER SKILLS

Demonstrated capability and familiarity with Microsoft products including creation and maintenance of spreadsheet calculations/formulas utilizing Excel, preparation and production of correspondence, reports, and related record keeping utilizing Word. Strong skills in Internet-based and system-based research techniques, e-mail communications, and ability to learn other related software applications required. Ability to learn and use new software products. Must possess a working knowledge of the Fiserv DNA core banking system as well as the Bank's policies and procedures related to Security and Bank Secrecy Act compliance. Familiarity with suspicious transaction monitoring systems

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate. Benefits/Incentives : Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more Salary Range : Competitive Base Ready to apply ? If this job sounds like a fit for you, then click on Apply / Apply Now in this posting. We look forward to talking with you. Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970. Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor. SFB

Job Tags

Bank staff, Summer holiday, Flexible hours,

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