BSA/AML Oversight and Testing Analyst

Position Title: BSA/AML Oversight and Testing Analyst

Reports To: Director-Financial Intelligence Unit & BSA/AML & OFAC Officer

Department: Financial Crimes

FLSA Status: Exempt

Purpose: The BSA/AML Oversight and Testing Analyst is responsible for developing, executing and maintaining a comprehensive BSA/AML and OFAC testing program over the Bank's Banking-as-a-Service partners. Additionally, the BSA/AML Oversight and Testing Analyst will work in conjunction with the FIU Director to provide oversight of existing, newly onboarded and potential future Banking-as-a-Service Partners.

Supervisory Responsibilities:

Degree of Supervision Received: Moderate

• Supervision Received (title): Director - Financial Intelligence Unit & BSA/AML & OFAC Officer

Degree of Supervision Given: None

• Supervision Given to (Titles): N/A

Essential Functions:

1. Develop and maintain a comprehensive BSA/AML and OFAC testing program for the Bank's Banking-as-a-Service Partners, to include, but not limited to: KYC processes, sanctions/PEP screenings, CDD collection, transaction monitoring processes, CTR and SAR filing pipelines, and 314(a) screenings.
2. Review and assess CDD/onboarding documentation for potential/new-to-Bank Banking-as-a-Service Partners, identifying gaps in BSA/AML or OFAC coverage as well as potential regulatory friction points. Reviews will include virtual meetings, telephone calls and onsite meetings with potential/new-to-Bank Partners.
3. Regularly contribute to BSA/AML and OFAC risk assessments of the Bank's Banking-as-a-Service Partners, providing recommended actions to address gaps and following up with appropriate internal and external partners to complete said actions.
4. Maintain knowledge of new products, services and technologies being implemented in the Financial Technology and Regulatory Technology spaces.
5. Forecast resources required to support the Bank's BSA/AML and OFAC Banking-as-a-Service Oversight and Testing Program; communicating needs for expansion or reduction of resources (e.g., people, processes and technology) to the FIU Director and Senior Management as appropriate.
6. Coordinate with peers across the FIU and other internal business units to ensure a strong foundational knowledge of where Banking-as-a-Service integrations meet BSA/AML and OFAC regulatory requirements.
7. Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.

Job Related Qualifications - Education and Prior Experience:

Required:

• Education: High School Diploma or equivalent
• Prior Experience:6+ years BSA/AML or OFAC experience
  1. 2+ years of which include:
     • Banking-as-a-Service;
     • Financial Technology Company; or
     • Audit experience
• Licenses or Accreditation: None

-OR-

Required:

• Education: Associate Degree
• Prior Experience:5+ years BSA/AML or OFAC experience
  1. 2+ years of which include:
     • Banking-as-a-Service;
     • Financial Technology Company; or
     • Audit experience
• Licenses or Accreditation: None

-OR-

Required:

• Education: Bachelor's Degree
• Prior Experience:4+ years BSA/AML or OFAC experience
  1. 2+ years of which include:
     • Banking-as-a-Service;
     • Financial Technology Company; or
     • Audit experience
• Licenses or Accreditation: None

Preferred:

• Education: Bachelor's Degree
• Prior Experience:5+ years BSA/AML or OFAC experience
  1. 3+ years of which include:
     • Banking-as-a-Service;
     • Financial Technology Company; or
     • Audit experience
  2. Experience building BSA/AML testing programs
• Licenses or Accreditation: CAMS

Competencies:

1. Excellent time management skills and organizational skills with the ability to manage multiple priorities and meet established deadlines
2. Enhanced knowledge of BSA/AML & OFAC regulations and requirements
3. Excellent verbal and written communication skills and ability to interact positively with a wide variety of individuals
4. Ability to identify trends, interpret data and apply to workflows and compliance techniques and automation to create operational efficiencies
5. Possess a high level of attention to detail
6. Ability to maintain a high degree of confidentiality
7. Able to effectively coach, mentor and develop staff in areas of expertise
8. Proficient with Microsoft applications with the ability to learn and utilize new and existing banking software applications; Ability to utilize the internet to conduct searches related to responsibilities

Physical Requirements:

1. Able to regularly sit for prolonged periods of time.
2. Able to travel occasionally within the Bank footprint
3. Extensive computer usage is required.

This job description is not exhaustive. The BSA/AML Oversight and Testing Analyst may be required to perform other duties as assigned.