BSA/AML QA Analyst

$50,000 - $70,000/Yr

Washington Federal - Boise, ID

posted 4 months ago

Full-time - Mid Level
Boise, ID
Credit Intermediation and Related Activities

About the position

The BSA/AML Quality Assurance Analyst role at WaFd Bank is a critical position that reports directly to the Quality Assurance Manager. This role is primarily responsible for testing the design and effectiveness of key processes and controls related to the bank's compliance obligations under the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) regulations, and Office of Foreign Assets Control (OFAC) requirements. The analyst will collaborate with various business line personnel to conduct thorough testing of BSA/AML topics across the enterprise, ensuring that the bank adheres to all relevant laws and regulations. In this position, the analyst will engage in compliance testing in accordance with established policies and procedures, focusing on the first and second lines of defense. This includes researching, planning, and executing compliance tests within assigned timeframes to assess adherence to BSA/AML and OFAC regulations. The analyst will be expected to prepare clear and organized testing work papers that document the work performed and the conclusions reached. Addressing any open issues that arise during testing is also a key responsibility, ensuring that associated action plans are effectively managed and resolved. Additionally, the BSA/AML Quality Assurance Analyst will draft detailed reports that summarize the review results, clearly articulating any issues identified and the remedial actions required. The role also involves organizing and preparing management information related to completed testing reviews, identified issues, outstanding action plans, and progress against established plans. The analyst may also undertake ad-hoc projects as requested by the Quality Assurance Manager, BSA Officer, or their designee. Throughout all tasks, the analyst is expected to uphold the values of WaFd Bank, particularly the emphasis on kindness in interactions with colleagues and clients.

Responsibilities

  • Research, plan, and assist in compliance testing in accordance with applicable policies and procedures for the first and second lines of defense within assigned testing timeframes to assess compliance with BSA/AML and OFAC laws and regulations.
  • Prepare clear and organized testing work papers to document and support work performed and conclusions reached.
  • Address open issues arising from testing and ensure that associated action plans are addressed.
  • Draft detailed reports encompassing the review results that clearly articulate the issues noted and remedial actions to be taken.
  • Organize and prepare management information relating to testing reviews completed, issues identified, outstanding action plans, and progress against plan.
  • Undertake ad-hoc projects at the request of the Quality Assurance Manager, BSA Officer or designee.
  • Adhere to bank policies and procedures designed to comply with Federal regulations, including but not limited to the Bank Secrecy Act, USA Patriot Act and OFAC regulations.

Requirements

  • Bachelor of Science or Bachelor of Arts degree
  • 3-5 years of financial services experience, preferably in Audit or Testing related roles
  • Relevant industry qualifications in AML (ACAMS) preferred
  • Strong organizational skills and willingness to take ownership and responsibility of tasks
  • Ability to manage multiple projects simultaneously with minimal supervision
  • Superior writing, analytical, and communications skills
  • AML, KYC, Sanctions, Compliance or Investigative background preferred.

Benefits

  • Paid time off for vacation, sick days and holidays
  • Health insurance
  • Stock options
  • Bonus programs
  • Generous 7% 401(k) employer matching
  • Paid Parental Leave
  • Life and AD&D insurance
  • Long-term disability
  • Tuition Reimbursement
  • Employee assistance programs
  • Pre-tax health and dependent-care spending plans
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