BSA Analyst

$52,000 - $62,400/Yr

Pacific Valley Bank - Salinas, CA

Full-time - Mid Level

Salinas, CA

Credit Intermediation and Related Activities

About the position

The BSA Analyst at Pacific Valley Bank plays a crucial role in implementing and managing the Bank Secrecy Act compliance program. This position involves monitoring and investigating suspicious activities, ensuring compliance with regulatory requirements, and conducting thorough due diligence on high-risk customers. The analyst will work under the guidance of the BSA Officer or Operations Manager to support the bank's compliance efforts effectively.

Responsibilities

• Assist in the implementation and administration of the Bank Secrecy Act compliance program.
• Monitor and investigate potential suspicious or unusual activity on a day-to-day basis.
• Ensure accurate filing of currency transaction reports and compliance with customer identification programs.
• Conduct enhanced due diligence reviews of higher-risk customer relationships, including cannabis-related businesses and MSBs.
• Perform full KYC reviews on new client adoptions and periodic reviews of existing clients.
• Investigate client data using internal and external systems to develop comprehensive analyses.
• Monitor account activity for suspicious patterns and unusual activity, filing suspicious activity reports as necessary.
• Support audits and compliance checks.

Requirements

• Minimum of 5 years' experience in banking, with at least 3 years in BSA/AML at a financial institution.
• Ability to source information from various research tools such as Clear and Lexis Nexis.
• Basic understanding of AML/KYC regulations and their impact on financial institutions.

Nice-to-haves

• Experience with regulatory reporting and compliance management.
• Knowledge of securities law and banking regulations.

Benefits

• Health savings account
• Health insurance
• Dental insurance
• 401(k)
• Flexible spending account
• Paid time off
• Employee assistance program
• Vision insurance
• 401(k) matching
• Employee discount
• Life insurance
• Referral program