BSA Assistant

$35,891 - $35,891/Yr

First Commercial Bank - Alhambra, CA

Full-time - Entry Level

Alhambra, CA

1-10 employees

Credit Intermediation and Related Activities

About the position

The BSA Assistant is responsible for assisting in investigations and monitoring of transactions to mitigate money laundering risks to the Bank and its customers. This role involves learning monitoring, analysis, report formatting, and assisting the Bank's BSA Officer to ensure compliance with BSA regulatory requirements.

Responsibilities

• Maintain current knowledge of all federal and state laws and regulations, along with the Bank's policies and procedures.
• Perform daily data validations in the Bank's BSA/AML monitoring system.
• Review monthly branch certifications.
• Review prior business day's data import from core system to BAM AML system and investigate any import errors.
• Assign alerts generated by the Bank's BSA/AML monitoring system to appropriate branch personnel for investigation.
• Review and assess the reasonableness of 'alert' investigations conducted by branches.
• Independently investigate alerts and document the research performed in a clear and concise manner to draw conclusions and elevate activity that may warrant a SAR filing after reviewing the initial investigating comments from branches.
• Assist in the filing of SARs, when necessary.
• Develop SAR narrative, independently, when it is determined that an initial or continuing SAR is deemed necessary.
• Conduct extensive reviews on customers on which a Suspicious Activity Referral Form is submitted by branch or department.
• Assist in the preparation and submission of all Currency Transaction Reports (CTRs) within required timeframes.
• Analyze monthly branch wire/cash activity.
• Perform 314(a) research.
• Attend required training and complete other assigned trainings within required timeline.
• Actively participate in BSA/AML meetings.
• Monitor potential OFAC matches and take appropriate action to escalate them when necessary.
• Assist BSA Officer with OFAC compliance.
• Assist in preparations for audits and examinations.
• Perform other duties assigned by BSA Officer.

Requirements

• College degree preferred.
• Minimum of 1 year of experience in the general banking industry.
• Experience in analyzing account activities is preferred.
• Ability to work well independently and with others.
• Strong communication skills, written and verbal.
• Strong analytical skills and attention to detail.
• Good organizational and time management skills.
• Strong PC skills (Excel and Word).

Nice-to-haves

• Experience in analyzing account activities is preferred.
• Knowledge of Chinese is preferred.

Benefits

• 401(k)
• 401(k) matching
• Dental insurance
• Flexible spending account
• Health insurance
• Life insurance
• Vision insurance