Job Description
Job Description
Company: New Hampshire Mutual Bancorp, supporting The Merrimack, MVSB, SBW and NHTrust
Title: BSA Analyst- Senior
Location: New Hampshire
Position Details: Full Time, Remote, and commutable to New Hampshire
Salary: Negotiable based on level of experience between $70,000- $88,000
PRIMARY RESPONSIBILITIES
Under the guidance of the NHMB VP Retail Compliance Officer/BSA Officer, the incumbent supports the implementation and administration of the Bank Secrecy Act Anti-Money Laundering/Countering the Financing of Terrorism (BSA/AML/CFT) program for New Hampshire Mutual Bancorp (NHMB), and its affiliate banks and the trust customer segment of New Hampshire Trust Company. Independently performs complex AML investigations from alert disposition through documented conclusion; prepares Suspicious Activity Report (SAR) narratives and supporting documentation for BSA Officer review/approval and timely filing; performs and documents Customer Due Diligence/Enhanced Due Diligence (CDD/EDD) reviews, high-risk customer surveillance, supports compliance with OFAC requirements through screening alert review/disposition, escalation of potential matches, and required blocking/rejecting and reporting process. Provides varied support activities for BSA operations including special investigations, monitoring, staff training, and management reporting.
Accountabilities & Measures
Key Accountabilities
1. Model behaviors consistent with A+ Merits to foster an effective culture.
2. Will assume primary responsibility for the day-to-day execution, procedure documentation, quality control, and reporting/metrics for one or more of the assigned specialty BSA area(s).
3. Maintaining data integrity across all BSA/AML Systems.
4. Monitoring and facilitating BSA/AML reporting requirements.
Success Measures
1. Independently demonstrates an in-depth understanding of BSA AML/CFT data points and how they flow from transactions through monitoring scenarios/worklists to investigative case outcomes.
2. Acceptable error rate levels for tracking areas exposing Banks to regulatory criticism and penalties.
3. Accurate and timely preparation of internal and external reporting.
ESSENTIAL FUNCTIONS
1. Adheres to the NHMB Values: A+ Merits - Accountability, Mutuality, Excellence, Respect, Integrity, Teamwork and Stewardship.
2. Independently maintains an in-depth knowledge of BSA laws and regulations, along with Bank’s policies and procedures. Remains well-informed of new and evolving/changing BSA and related regulations.
3. Actively supports the BSA Officer with the development and review of BSA processes and procedures, within regulatory guidelines, to comply with BSA and OFAC laws. Supports the identification of emerging BSA compliance issues and assists in the establishment of controls to mitigate risks.
4. Maintains a strong working knowledge across all BSA AML/CFT functions with ability to provide cross-training/backup department coverage as needed. Assumes direct primary responsibility for one or more specialty areas (e.g., FinCEN 314(a) and/or 314(b)), CTR exemption management, OFAC alert clearance, high-risk/EDD reviews, fraud related cases or internal unusual suspicious activity AML/CFT case investigations,
5. Maximizes the utilization of complex BSA/AML monitoring software of account activity for identifying and documenting suspicious patterns and activity, customer and account reviews, account risk profiles and high-risk customer identification, researches and resolves alerts within established timelines and internal standards and escalates higher-risk matters appropriately.
6. Independently manages the more complex AML/CFT investigations, including suspected cases of activity related to fraud, money laundering, terrorist financing, and tax evasion. Collaborates with the fraud team as necessary to effectively and efficiently prepare and file fraud SARs.
7. Trusted department resource for answering the more complex BSA and OFAC related questions for less experienced personnel, using established BSA resources while maintaining critical objectivity to escalate to BSA Management as needed.
8. Independently completes CDD/EDD reviews of higher risk customer categories, including periodic and trigger-based refreshes following regulatory guidance and established procedures; documents conclusions and, supportable rationale.
9. Leads suspicious activity investigations and independently develops well-supported SAR/non-SAR recommendations. Drafts SAR narratives and completes required SAR data fields (for BSA Officer or designee review/approval) in accordance with FinCEN guidance and internal standards; ensures timely filing; maintains complete case documentation to support decisions; and performs continuing activity SAR reviews and filings, as appropriate.
10. Provides direct support for independent audit and regulatory exam preparation, responds to law enforcement and other agency requests for information, as well as delivering BSA/AML/OFAC related training to all areas of the organization as needed.
11. Reviews, analyzes, resolves and documents the disposition of OFAC alerts. Performs FinCEN 314(a) searches and responses within required timeframes and supports the FinCEN 314(b) voluntary information sharing program requirements (as applicable), including documentation and coordination with internal stakeholders.
12. Manages the CTR exemption program, including exemption designation support, documentation, annual reviews, ongoing monitoring for continued eligibility, and revocation as appropriate; tracks exemptions and supports reporting/metrics.
13. Satisfactorily completes all required compliance training and complies with all regulations which apply within the scope of the position.
14. Performs other duties as requested.
MINIMUM PHYSICAL REQUIREMENTS
Physical surroundings are generally pleasant and comfortable with minimal exposure to injury or other hazards with moderate level of noise. Independent means of transportation for travel on occasion to branches and departments as well as meetings, trainings, etc. Overnight travel required for some conferences. Minimal physical effort required with very occasional lifting of up to 30 lbs. Normally seated with the freedom of movement on a regular basis.
DESIRED EDUCATION
College
DESIRED DEGREE
Bachelor
DESIRED MAJOR
Business, Finance
DESIRED JOB EXPERIENCE
7+ years of progressive experience in BSA AML/CFT compliance within a financial institution, including complex AML investigations and demonstrated SAR drafting (including narrative writing) and filing support; experience with CIP/CDD/EDD and OFAC compliance; or an equivalent combination of education and experience.
OTHER QUALIFICATIONS
Superior organizational and analytical skills, great attention to detail, demonstrated ability to handle multiple tasks while meeting deadlines and maintaining accuracy. Strong oral and written communication skills. Must be proficient in Microsoft Word, Excel, PowerPoint, BSA filings and various other applications. Must be a self-starter and have ability to work independently while being team oriented, and be able to interact with all levels of staff and management. Take responsibility for solving problems regardless of origin and to be accountable when completing assignments within deadlines. Knowledge should include banking, bank security, privacy, regulatory compliance, BSA/AML, CIP, OFAC, audit, account monitoring or related experience. Experience with Verafin and Jack Henry core systems. In depth knowledge of banking concepts, products and services.
CERTIFICATIONS REQUIRED
Desired Certifications: Certified Anti-Money Laundering Specialist (CAMS), Advanced CAMS Risk Management (CAMS-RM) or similar.