BSA QC Analyst

About the position

East West Bank is currently seeking a BSA QC Analyst. The BSA QC analyst's primary functions include completing SAR investigations/filings, periodic EDD reviews of the bank's high-risk customers and assist with QA of SAR and EDD reviews as needed. The customer reviews cover the full end-to-end BSA monitoring process such as performing initial/ongoing due diligence and mitigating risk, monitoring AML transaction alerts, identifying and reporting suspicious activity, escalate pertinent issues, while working closely with relationship managers, account officers and/or customers in addition to BSA management throughout the process.

Responsibilities

• Assist BSA Manager/supervisor with QA activities
• Review and approve SAR/EDD reviews for content, verbiage, backup documents and overall correctness. Ensure timely completion of assigned duties.
• Perform research, analysis, and investigation of SAR and periodic EDD files
• Escalate potentially suspicious activity findings to management
• Gather information from outside resources such as Internet searches, third-party vendors, public records, newspaper articles, etc.
• Conduct follow-up with account officer for any missing or necessary documentation.
• Make recommendation for account closure.
• Monitor and perform periodic enhanced due diligence reviews of approved high risk individuals and entities based on customer's risk profile
• Review and make decision on AML/ suspicious transaction monitoring alerts and file initial and supplemental suspicious activity reports (SAR) to FinCEN on a timely basis, as warranted.
• Analyze data, review customer documentation (e.g. invoices, POS reports, and manifests) and results of existing transaction monitoring reports to determine the level of further investigation warranted, and take appropriate action.
• Gather information from outside resources such as Internet searches, third-party vendors, public records, newspaper articles, court records, government agencies, etc.
• Proactively stays up to date and knowledgeable on internal policies, procedures, BSA/AML/OFAC and related regulatory requirements, FinCEN guidelines, local/state requirements and industry practices.
• Use analytical skills to produce and follow leads, as well as link common or related activities to develop complete picture of suspicious activity and uncover new trends in suspicious behavior.

Requirements

• 5+ years' experience of BSA/AML/OFAC related activities in financial services industry
• Experience conducting financial crime investigations, money laundering monitoring and/or other related BSA/AML experience
• Banking, operations, BSA & USA Patriot acts background including performing EDD reviews on complex relationships required
• Bachelor's Degree preferred or equivalent experience
• Well-organized, analytical, and critical thinking skills
• Excellent verbal and written communication
• Strong attention to detail, writing skills
• Ability to work in a fast paced environment, creative out-of-the-box thinker, internet savvy, solutions oriented, handle tight deadlines, adaptable to changes in requirements
• Able to meet production and quality goal requirements set by BSA management

Nice-to-haves

• Experience with NICE Actimize preferred
• CAMS certification preferred