BSA Analyst

About the Role:

The BSA Analyst plays a critical role in ensuring the organization's compliance with the Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations. This position involves conducting thorough investigations and analysis of financial transactions to identify suspicious activities and potential risks. The BSA Analyst must adhere to and implement all aspects of the Credit Union’s Bank Secrecy Act (BSA) program. This position requires complete compliance with state/federal laws, including the Bank Secrecy Act, USA PATRIOT Act, Anti-Money Laundering (AML) and Office of Foreign Assets Control (OFAC) laws. The BSA Analyst will provide assistance to the Senior Manager, ERM and/or the BSA Officer/Assistant BSA Officer with BSA-related functions as needed.

Minimum Qualifications:

• Bachelor’s degree in Criminal Justice or related field, preferred, however suitable work experience may substitute the degree preference.
• 1-3 years of experience in BSA/AML compliance, financial crime investigation, or a related area.
• Strong understanding of BSA, AML laws, and regulatory requirements applicable in the United States.
• Proficiency in using transaction monitoring and case management systems.
• Excellent analytical, investigative, and written communication skills.

Preferred Qualifications:

• Experience working within a financial institution or regulatory agency.
• Familiarity with data analytics tools and software to enhance investigative capabilities.
• Knowledge of international AML regulations and cross-border financial crime trends.
• Advanced skills in report writing and regulatory documentation.

Responsibilities:

• Analyze and make sound determinations on BSA-related matters (MIP discrepancies, High-Risk alerts, OFAC/314a alerts, and transaction monitoring alerts)
• Assist with the mitigation of all BSA related risk factors affecting the Credit Union
• Attend training and be familiar with industry publications to stay abreast of issues affecting BSA, AML, OFAC, USA PATRIOT Act, etc.
• Complete reviews of High-Risk accounts on a quarterly basis
• Inform Senior Manager, ERM and/or the BSA Officer/Assistant BSA Officer of all pertinent problems, irregularities, or other important information within area of responsibility
• Investigate activity involving employees and/or members as directed
• Participate in Credit Union (in-house) training sessions, professional seminars, and continuing education as made available
• Perform other duties, within or outside the assigned area (appropriate for the skills of the employee) to assist the Credit Union in meeting strategic or operational goals
• Provide excellent service, both internally and externally
• Provide thorough analysis to Management as required for BSA-related matters
• Review and analyze Currency Transaction Reports and ensure completion for timely reporting through the Financial Crimes Enforcement Network (FinCEN)
• Support the Credit Union’s mission, vision, and strategic goals in each aspect of daily responsibilities
• Process transactions in accordance with Marine FCU’s BSA, USA PATRIOT Act, and OFAC compliance policies, including but not limited to:
• Adhering to Member Due Diligence requirements
• Verifying and obtaining proper identification and other information required information for CTRs
• Reporting suspicious activity through the appropriate channels
• Verify and complete required recordkeeping as it relates to the Bank Secrecy Act, USA PATRIOT Act, and OFAC
• Take appropriate action within Marine FCU policies and guidelines to prevent internal and external fraud
• Properly monitor employees’ activity for compliance with BSA, USA PATRIOT Act, and OFAC as required by Marine FCU policies and guidelines

Skills:

The BSA Analyst utilizes analytical skills daily to scrutinize complex financial data and identify patterns indicative of money laundering or other illicit activities. Strong investigative skills are essential for conducting thorough reviews and compiling evidence to support compliance actions. Communication skills are critical for preparing clear, concise reports and collaborating effectively with internal teams and external regulators. Proficiency with transaction monitoring systems and case management software enables efficient handling of alerts and investigations. Additionally, staying informed about regulatory changes and applying this knowledge ensures the organization’s compliance posture remains strong and adaptive.

Monday-Friday, 8AM-5PM. Flexibility is required for hours outside of normal schedule.
Full Time employees are scheduled for 40 hours weekly.