Financial Crimes Unit Analyst

Description

About Bankwell:

Bankwell is a commercial bank with more than $3 billion in assets that serves the banking needs of businesses and individuals. At Bankwell, we pride ourselves on our unique ability to bring you high touch, high quality banking with the expertise and dedication of our experienced team of professionals. When it comes to business, our deep industry knowledge, flexibility and innovative treasury and financing services enable us to find the right solutions for our business and commercial clients. We’re passionate about giving back and are actively involved with many not-for-profit organizations that help shape and improve the lives of others. We’re dedicated to giving our time and talent to support the communities we serve. More about Bankwell can be found at www.mybankwell.com.

Summary of Position:

The FCU Analyst is responsible for supporting the FCU Department by assisting in monitoring, reviewing, maintaining, and improving the Bank’s BSA/AML/OFAC and overall Compliance Program to ensure compliance with applicable bank laws and regulations. The FCU Analyst assists in identifying and mitigating money laundering risk by conducting daily reviews of system alerts. The Analyst understands and follows aspects of the Bank Secrecy Act, Treasury Department’s regulations, and the USA PATRIOT Act and assures Bank policy and procedures are followed. The FCU Analyst reviews, researches, and analyzes customer account activity for suspicious activity for potential money laundering or other illegal activity as it relates to Suspicious Activity Reports (SARs). Key responsibilities include: 

• Completion of required annual Bank Secrecy Act training
• Using Fiserv’s “AML Manager” system to perform monitoring activities
• Performing transaction monitoring or suspicious activities; assisting with suspicious activity investigations
• Gathering materials for BSA audits and examinations
• Reviewing CTRs for accuracy; filing CTRs with Fincen; processing Fincen correspondence 
• Reviewing Monetary Instrument Logs for accuracy and to determining if cash purchases are to be reported on a CTR
• Effectively coordinating with branches and departments when additional information or documents are needed to perform job duties and responsibilities
• Assisting with CDD/EDD on new accounts
• Assisting with CTR exemptions; maintaining exemption files 
• Assisting in maintaining and updating the BSA, USA Patriot Act, CIP, AML, and OFAC Procedures Manual, as assigned
• Maintaining BSA Department records as required by BSA and OFAC regulations 
• Assisting with gathering materials for BSA audits and examinations
• Maintaining current knowledge of all rules, regulations, and laws while following all applicable procedures in the current BSA and OFAC Procedures Manual that apply to the BSA Analyst’s role

Requirements

Qualifications & Skills:

• Minimum 1-3 years of AML Banking or Financial experience preferred
• Previous experience with banking/retail transactions desired
• Working knowledge of Windows-based computer systems and Microsoft Office with an emphasis on creating and editing Excel spreadsheets and PowerPoint presentations
• Excellent verbal and written skills; ability to communicate effectively
• Must be proactive, self-motivated and a self-starter
• Possess the ability to manage multiple and changing priorities, while meeting regulatory and internal deadlines
• Must be a team player and have the ability to communicate with people at all levels of the bank
• Strong sense of integrity and personal ethics
• Core system and AML software. Experience with Fiserv Systems and AML Manager or Fraud Manager is desirable.
• Knowledge of Bank Secrecy Act and Anti Money Laundering regulations including OFAC regulations and USA PATRIOT Act; this position requires experience actually performing transaction monitoring and customer due diligence tasks
• Previous CDD/EDD experience is a plus
• BSA/OFAC, Compliance, Branch, or Operations experience is preferred
• Bachelor’s degree in Accounting, Business Administration, or Finance preferred
• ACAMS Certification is preferred (not required)

This job description is a general description of essential job functions. It is not intended as an employment contract, nor is it intended to describe all duties someone in this position may perform. All employees are expected to perform tasks assigned by supervisory personnel, regardless of job titles or routine job duties.

Bankwell is committed to a policy of Equal Employment Opportunity and will not discriminate against any applicant or employee on the basis of race, color, religion, sex, sexual orientation, national origin or ancestry, age, physical or mental disability, veteran or military status, marital status, or any other legally recognized protected basis under federal, state or local laws.

Applicants with disabilities may be entitled to reasonable accommodation under the terms of Americans with Disabilities Act and certain other state or local laws. Please inform Bankwell’s Human Resources representative if you need assistance completing any forms or to otherwise participate in the application process.

All employees are responsible for complying with banking regulations that apply to Bankwell. This includes, but is not limited to, adhering to the BSA and various consumer protection regulations, and complying with OFAC sanctions. Employees are required to complete compliance training and follow policies and procedures for applicable regulations based on their role. An employee’s failure to comply with banking regulations will be individually reviewed and assessed. The result of non-compliance may impact job performance ratings and may be serious enough to require termination of employment.