HarborOne Bank BSA and AML Specialist in Brockton, Massachusetts
Under the supervision of the VP BSA Officer, this position is partially responsible for administering all aspects of the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering, OFAC, Customer Due Diligence (CDD) and Customer Identification Programs (CIP). As part of the AML team the BSA / AML Analyst is responsible for investigating and analyzing transaction data for potential money laundering schemes, check kitting, account fraud, cash structuring and other suspicious activities.
Evaluate and risk rate new business customers.
File CTR's (Cash transaction reports) for all cash transactions over 10k.
Periodic review of new, high risk and MSB business accounts.
Analyze system generated check kitting, new account fraud and money laundering alerts for potential suspicious activity.
Analyze account transaction activity utilizing various applications to establish normal customer and business behaviors.
Create cases in the Verafin application and reset customer behaviors as warranted.
Create and file SARs. (suspicious activity report)
Prepare and review monetary instrument logs for potential structuring.
Review monetary instrument log on a weekly basis to ensure cash transactions are processed correctly
Review of incoming and outgoing wire transactions to identify trends/patterns of money laundering
ACH Enhanced Due Diligence review performed to identify Money Service Businesses and ATM/Debit Card Processors.
Review FinCEN 314A list against negotiable instrument log and customer base to determine if bank has a relationship with individuals or entities.
Maintain a log of new accounts opened with cash and CTR reporting errors
OFAC monetary instrument review is performed to determine if the bank is issuing instruments to a potential terrorist.
Analyze and review IAT transactions for potential OFAC matches.
Perform a due diligence review on remote deposit capture customers prior to onboarding as well as periodically.
Perform a due diligence review on privately owned ATM customer at account opening as well as periodically.
Review report of potential Non Resident Alien customers on a weekly basis as well as periodically.
Monitor and track new account information worksheets
Develop and revise departmental policies and procedures
Develop and revise departmental forms for Retail and Corporate Headquarter Departments.
Work with BSA Officer to review and resolve audit findings
Perform a quarterly audit of daily, weekly and monthly tasks to ensure departmental procedures are followed.
Review and resolve potential OFAC matches on incoming and outgoing wires.
Maintain the Suspicious Activity Report memo for the Board of Directors.
Create and monitor mismanaged cases reported to the Retail Division.
Implement departmental efficiencies when applicable
Research and resolve internal and external customer problems in a professional, accurate and timely manner.
Perform all duties professionally and with HarborOne policies and procedures.
Other duties as assigned
Maintain a good understanding of all other Operations department processes and provide assistance as needed.
QUALIFICATIONS - To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience
At least 3 years of experience and solid working knowledge of the basic principles of anti-money laundering regulations, and exposure to Bank Secrecy Act. Bachelor's degree in business, accounting, finance or related field as well as CAMS Certification are preferred.
Maintain a thorough knowledge of the following systems: Insight, Digital Archives, E-Vision, Identify, Verafin, Lexus Nexis, Word and Excel. Maintain a good understanding of BSA regulations, CTR and SAR filing requirements.
Ability to detect patterns, trends and unusual account activity by conducting extensive research while utilizing various banks’ and external sources.
Strong interpersonal skill and business writing skills.
Advanced level in Word and Excel; ability to analyze and sort data in Excel
Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals. Ability to write routine reports and correspondence. Ability to speak effectively before groups of customers or employees of organization.
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra.
Ability to detect patterns, trends and unusual account activity by conducting extensive research while utilizing various banks’ and external sources. Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.