BSA Analyst

Job Summary:
The BSA Analyst is responsible for supporting the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program for a growing community bank approaching $1B in assets. This role ensures compliance with federal regulations related to anti-money laundering (AML), customer due diligence, and suspicious activity reporting. The BSA Analyst will collaborate closely with the Chief Compliance Officer to develop, maintain, and enhance the bank’s BSA/AML program, policies, and procedures.

Key Responsibilities:

• Assist in the ongoing monitoring of the bank’s BSA/AML program to ensure compliance with applicable federal laws and regulations.
• Conduct thorough reviews of transaction reports, including Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs), ensuring accurate and timely filing with regulatory agencies.
• Perform Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) reviews to identify and assess potential risks.
• Investigate unusual or suspicious account activity by gathering relevant data and preparing detailed reports for submission to the CCO.
• Support the implementation and maintenance of the bank’s automated monitoring system and recommend system enhancements for improved compliance.
• Collaborate with internal stakeholders to conduct BSA/AML risk assessments and recommend appropriate mitigation strategies.
• Assist in the development and delivery of BSA/AML training programs for bank employees.
• Maintain accurate and complete records related to BSA/AML compliance activities and support regulatory examinations or audits as needed.
• Monitor and track regulatory changes affecting the BSA/AML landscape, advising the CCO on necessary updates to policies and procedures.
• Assist in addressing internal or external audit findings and ensure timely resolution of any identified BSA/AML issues.

Qualifications:

• Bachelor’s degree in Finance, Business, or a related field preferred.
• Minimum of 2-3 years of experience in a BSA/AML or similar compliance role within a financial institution.
• Strong understanding of BSA/AML regulations, including CTRs, SARs, and OFAC requirements.
• Experience with AML software and automated monitoring systems.
• Certified Anti-Money Laundering Specialist (CAMS) certification or similar is a plus.
• Strong analytical and problem-solving skills with high attention to detail.
• Excellent written and verbal communication skills.
• Ability to work both independently and collaboratively with cross-functional teams.

Benefits:

• Competitive salary and bonus potential.
• Health, dental, and vision insurance.
• 401(k) with company match.
• Professional development opportunities.

Learn more about CommerceOne at www.CommerceOneBank.com. 

CommerceOne Bank is an Equal Opportunity Employer and prohibits discrimination or harassment of any kind.