Bsa/Aml Analyst Jobs

BSA/AML AnalystHeadquarters-Troy, MIThe Financial Crimes Unit (FCU) is part of Flagstar Bank’s (Bank) second line of defense in the Bank’s quest to provide an effective BSA (Bank Secrecy Act)/AML (Anti-Money Laundering) and Office of Foreign Assets Control (OFAC) compliance program. The successful candidate will have a strong background in the prevention and detection of money laundering (ML)/terrorist financing (TF) and other illicit financial activity, banking, or related work, with the ability to operate in a formal BSA/AML and OFAC compliance program within the FCU. This position requires the ability to work independently with minimal direction and guidance. The BSA/AML Associate will become well-rounded in multiple areas of the FCU, including suspicious activity monitoring (SAM), customer due diligence (CDD), enhanced due diligence (EDD), suspicious activity reporting (SAR), currency transaction report (CTR) filing, CTR exemptions, Quality Assurance (QA), Sanctions, and other business processes. The candidate will complete a training program during their first two years in the position that will give them the ability to work competently in any of the BSA/AML teams within the FCU. During, and following, this training program, the candidate will work to become a subject matter expert (SME) on one or more of the following teams:
SAM
The SAM team works with the Bank’s transaction monitoring system to help prevent, detect and deter ML/TF and other illicit financial activity using a risk-based approach. They also identify normal and abnormal transactional activity to help to ensure the health of the FCU’s transaction monitoring responsibility, and analyze transaction surveillance alerts for potential escalation.
Investigations
The BSA/AML Investigations team scrutinizes alerts which have been elevated from the transaction monitoring system and other channels, identify and report suspicious behavior and transactional activity, are responsible for maintaining and ensuring organizational compliance with BSA/AML regulations, and investigate escalated incidents involving ML/TF and other illicit financial activity to help minimize organizational exposure to BSA/AML risk.
CDD/EDD
The CDD/EDD team manages and mitigates customer related risks. The objective of performing CDD/EDD reviews is to enable the Bank to better know its customers and predict, with relative certainty, the types of activity in which a customer is likely to engage, which further assists the Bank in determining when transactions are potentially suspicious.
CTR
As part of its fight against money laundering, the BSA requires financial institutions to report currency transactions over $10,000 conducted by, or on behalf of, one person, as well as multiple currency transactions that aggregate to be over $10,000 in a single day. The FCU is responsible for filing the Bank’s CTRs. The CTR team reviews, verifies, and electronically files CTRs. This team is also responsible for monitoring banking branch staff for proper CTR compliance and providing CTR exemptions when applicable.
Sanctions
Federal law and regulations require screening of new customers, existing customers, and transactional counterparties through Bank interdiction software. This team is responsible for daily screening of customers and transactions. Additionally, they assist in ensuring that true Specially Designated Nationals (SDNs) assets are blocked (seized and frozen) when necessary.
QA
The QA team conducts reviews of the work completed by the various teams in the FCU to ensure best practices related to SAM, CDD/EDD, Investigations, CTRs, Sanctions, Fraud, and other business processes. The team is also responsible for assessing the impact of implementing new practices, standards, FinCEN and OCC guidance as it relates to BSA/AML Compliance practices across the organization.

• CDD/EDD (approximately 12-24 weeks)
• Sanctions (approximately 4-8 weeks)
• CTR (approximately 4-8 weeks)
• SAM (approximately 12-24 weeks)
• Investigations (approximately 12-24 weeks)
• QA (approximately 8-16 weeks)

• Competency in Microsoft Office products
• Ability to multi-task and set priorities
• Ability to work independently with minimal supervision
• Excellent analytical, judgement, and research skills
• Ability to display a high level of confidentiality
• Ability to manage alert volumes
• HS Diploma, GED or Foreign Equivalent Required
• Outstanding written and verbal communication skills with demonstrated ability consulting with all levels of an organization
• Positive attitude, enthusiasm, professionalism, and strong work ethic with high level of integrity and ethics.
• Bachelor’s Degree Strongly Preferred (Business Administration, Criminal Justice, or related)
• Team-oriented, great at problem solving, able to juggle multiple priorities and excel in a dynamic and fast moving environment
• Thorough knowledge of and experience with federal and state AML regulations and requirements, including the Bank Secrecy Act, The USA PATRIOT Act, FFIEC BSA/AML Exam Manual guidelines, OFAC/Economic Sanctions and Suspicious Activity Reporting

• BSA/AML Associate: Preferred
• BSA/AML Analyst: Preferred
• BSA/AML Specialist: Preferred
• Senior BSA/AML Specialist: Required