Grand Bank - BSA/AML Compliance Analyst

BSA/AML Compliance Analyst
Position Summary: The BSA/AML Compliance Analyst is responsible for assisting with the implementation and
maintenance of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Asset Control (OFAC),
the US Patriot Act, and fraud detection and prevention programs. The role will support internal strategies, policies, and
procedures to inhibit regulatory violations in these areas and ensure appropriate parameters are in place to identify suspicious
and/or fraudulent activity within the Bank’s financial systems, including affiliate/third party vendors.
The successful candidate must demonstrate applied knowledge of BSA/AML, Fraud, OFAC, USA Patriot Act, KYC/CIP,
FFIEC, and FinCEN guidance. The role will include periodic reporting to the Bank’s leadership team and assisting the
Bank’s BSA/AML & Fraud Officer as needed. The role is critical in protecting the Bank from financial crimes and
reputational risk and the successful candidate must balance diligence in fraud prevention with thoughtful customer service.
The BSA/AML Compliance Analyst reports to the Bank’s BSA/AML & Fraud Officer.
Essential Duties and Responsibilities
The essential functions include, but are not limited to the following:
• Monitor daily transaction reports (in both the Bank’s core and specialty software) and alerts for suspicious activity
using the Bank’s BSA/AML & Fraud software. Assist with system administration for compliance monitoring
software and support data analysis initiatives.
• Conduct comprehensive reviews of customer transactions accounts, and activities to identify potential money
laundering, fraud, structuring, elder abuse, identify theft, and other financial crimes.
• Establish and maintain appropriate Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs)
in compliance with regulatory deadlines. Ensure SAR/CTR investigations, reviews, and reporting processes to
promote consistent decisions, adequate investigation and research, and completion of detailed documentation.
• Administer and enhance the BSA/AML, Fraud, OFAC ,and USA Patriot Act monitoring systems to ensure
appropriate parameters are in place to identify suspicious and/or fraudulent activity at the Bank and the Bank’s
affiliate/third party vendors.
• Review and analyze customer accounts, wire transfers, ACH activity, cash transactions, and other high-risk areas.
• Monitor and analyze ACH activity for unauthorized transactions, return rates, and fraud trends; escalate issues in
accordance with NACHA thresholds and Bank policy.
• Review ACH return reason codes (e.g., R05, R07, R10) to identify potential fraud, account takeover, or
unauthorized activity patterns.
• Monitor and review the deposit procedures of the Bank to: (i) develop recommendations for enhancement of
compliance policies and procedures and for remediating compliance deficiencies; (ii) communicating deposit
compliance violations and recommended action(s) as necessary; and (iii) help reduce customer and internal fraud.
• Monitor and analyze activity through available reporting.
• Perform transaction monitoring and fraud analysis across channels, including deposit, ACH, and credit card
activity, to identify emerging risks and trends.
• Examine data and initiate/maintain appropriate SAR investigations, reviews and reports processes that promote
consistent decisions; adequate investigation and research; and complete detailed documentation. Work alerts from
fraud monitoring software, including decisioning and documenting if further investigation is necessary.
• Detect and respond to fraud alerts and assist in internal investigations involving financial crimes or account
takeovers.
• Monitor and work credit card fraud alerts, including card-not-present (CNP), authorization anomalies, and
suspected account takeover activity; document investigations and escalate as appropriate.
• Assist with chargeback and dispute research by gathering transaction data, validating fraud indicators, and
supporting Reg E / Reg Z requirements.
• Support the BSA/AML & Fraud Officer in validating KYC/CIP and conducting customer due diligence and risk
assessment analysis of personal and commercial customer relationships and conducting enhanced due diligence
reviews for customers identified as higher risk.
• Completing 314(a) system validation.
• Communicate with all levels of staff, including the branch, back office, and Bank leadership.
• Assist with internal and external audits and regulatory exams, oversee corrective actions of related compliance
deficiencies, assist with fraud and operational loss investigations, and assist with annual risk assessments.
• Assist in the preparation of periodic fraud and suspicious activity reporting, including ACH return trends, credit
card fraud activity, and loss analysis.
• Comply with all departmental policies and procedures (including all laws, rules, and regulations applicable to the
position) while staying informed on regulatory changes and industry best practices.
• Perform other duties as assigned.
Minimum Qualifications (Knowledge, Skills, and Abilities):
• Bachelor's degree (B.A) or equivalent from a four-year College.
• 5 years of experience within BSA/AML, Fraud, and OFAC compliance programs and 2 years related to credit
card experience preferred.
• Experience with ACH processing, NACHA rules, or credit card fraud monitoring preferred.
• Certified Anti-Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE), and BSA/AML
Professional Certification preferred.
• Advanced knowledge of BSA/AML, Fraud, OFAC, USA Patriot Act, KYC/CIP, and FFIEC & FinCEN guidance.
• Be a detail-oriented self-starter, with advanced analytical skills, who is flexible, innovative, and adaptive.
• Strong written and verbal communication skills.
• Strong people skills with the ability to work collaboratively and with people at all levels of the organization.
• Ability to maintain confidentiality and handle sensitive information.
• Excellent project management and organizational skills, with the ability to handle multiple projects at one time.
• Be proficient in MS Office applications (Excel, Word, PowerPoint), Lexis Nexis applications (AML Risk
Attributes, Bridger, Business Instant ID), Fiserv applications (Financial Crime Risk Management Platform,
Onboard Advisor, Verafin) or other anti-money laundering, counter-terrorist financing, KYC, and anti-fraud
platforms.
Physical Demands and Work Environment: The physical demands described here are representative of those that must
be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may
be made to enable individuals with disabilities to perform the functions.
While performing the duties of this position, the employee is regularly required to speak or hear. The employee frequently
is required to use hands or fingers, handle or feel objects, tools, or controls. The employee is occasionally required to stand,
walk, sit, and reach with hands and arms. If in a retail position, the employee may be required to stand for longer periods of
time. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this position
include close vision, distance vision, and the ability to adjust focus. The noise level in the work environment is usually low
to moderate.
Note: This job description in no way states or implies that these are the only duties to be performed by the employee(s)
incumbent in this position. Employees will be required to follow any other job-related instructions and to perform any other
job-related duties requested by any person authorized to give instructions or assignments. All duties and responsibilities are
essential functions and requirements and are subject to possible modification to reasonably accommodate individuals with
disabilities. To perform this job successfully, the incumbents will possess the skills, aptitudes, and abilities to perform each
duty proficiently. Some requirements may exclude individuals who pose a direct threat or significant risk to the health or
safety of themselves or others. The requirements listed in this document are the minimum levels of knowledge, skills, or
abilities. This document does not create an employment contract, implied or otherwise, other than an “at will” relationship.
Grand Bank offers a competitive salary along with the following benefits:
• 401(k) and Profit Sharing
• Health Insurance
• Dental Coverage Plan
• Vision Coverage Plan
• Disability Insurance
• Life Insurance
• Flexible Schedule
• Paid Time Off (PTO)
• Community Service PTO Match (Bank approved)
• Tuition Reimbursement
Job Type: Full-time
Location: Wilmington, DE or Hattiesburg, MS
Pay: Based on education and experience
About Grand Bank for Savings, FSB: Grand Bank is exploding with growth and on the fast track to becoming a leader
in providing affordable, innovative financial products to our customers throughout the U.S. Our mission is to deliver costeffective financial tools to give our customers better ways to borrow, spend, and save. We thrive on creating solutions to
help our customers live healthier financial lives and improve their relationship with money. From saving for retirement to
buying their first home, whatever stage of life they are in, we are with them every step of the way.
Chartered in 1968, Grand Bank has a rich history of thinking out of the box to offer unique products to meet the needs of
our customers. We value our team members and all they bring to the table. If you’re enthusiastic about delivering customerfocused solutions with a digital edge to help others build solid financial health, you want to work for us. You’ll discover a
career full of excitement, challenge, purpose, and opportunity at Grand Bank. We are proud to be an equal opportunity
workplace dedicated to pursuing and hiring a diverse, talented, and engaged team. We offer competitive salaries,
advancement opportunities, and a comprehensive benefits package. Join our team today! Grand Bank is an affirmative
action and equal opportunity employer, as well as an Equal Housing Lender, and Member FDIC.