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Risk Analyst I - Framingham, United States - MutualOne Bank
Description
Summary / Objective
A Risk Analyst I will support the bank's risk management program by providing assistance to the BSA/Compliance Officer with the Bank Secrecy Act/Anti-Money Laundering/OFAC rules and regulations.
Experience & Education Requirements:
Bachelor's degree in business or equivalent banking experience
Extensive knowledge in financial institution compliance, policies and procedures
Extensive knowledge to analyze and interpret government regulations and legal documents
Has a minimum of two years' banking experience, preferred
Specific Job Functions:
Responsible for the identification, tracking, and analyzing of suspicious activity through the generation and review of various reports of daily transactions for signs of any unusual or out of the ordinary customer activity
Responsible for the investigation of potential suspicious activity in or related to customer accounts, and preparation of reports concerning such activity
Responsible for alert and case management using the BSA/AML software to ensure timely review and acknowledgement
Performs and documents due diligence reviews on various customers and transactions
Ensures completion of periodic Customer Due Diligence forms and reviews non-Bank ATM activity
Participates in compliance/regulatory training to maintain proficient working knowledge of banking regulations
Responsible for the accurate review and timely filing of CTRs/SARs
Performs various reviews and monitoring pertaining to the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering program, OFAC and customer identification program
Attend various training seminars in order to maintain a proficient working knowledge of the BSA/AML rules
Maintains Red Flag and customers complaint files
Required knowledge, skills & abilities:
Superior verbal and written communication skills
Knowledge of all federal and state laws and regulations along with the Bank's policies and procedures
Superior organizational and planning skills with the ability to recover from and adjust to change.
Superior critical thinking and analytical skills to discuss areas in need of improvement with the department
Ability to recognize and focus on critical issues
High level of attention to detail and accuracy
Successful completion of in-house training programs or other approved training programs
Compliance with BSA regulations as appropriate to the position
Have excellent research skills with the ability to design and conduct a systematic, objective, and critical investigation. Must be a strong problem solver
Physical Demands and Work Environment:
Ability to use standard equipment such as computers, phones, photocopiers
Sitting for longer periods of time
Must be able to work schedules that meet the needs of the Bank, which may include early morning, evening and /or weekend hours
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Other Duties
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.
expected that from time to time other duties, both related and unrelated to the above, may be assigned and therefore, required.