BSA/AML/OFAC Compliance Analyst (Haverhill)


: $157,450.00 - $157,450.00 /year *

Employment Type

: Full-Time


: Legal

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Job Description

The BSA/AML/OFAC Compliance Analyst assists in the implementation and administration of all aspects of the Bank Secrecy Act compliance program and assists with various assignments supporting the Compliance Program of the credit union, under the guidance of the BSA Officer. This position performs various quality control reviews and monitoring pertaining to the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Member Identification Program compliance using industry standard and regulatory guidance to ensure the Credit Union's compliance efforts are maintained on a daily basis. Advises the BSA Officer of emerging compliance issues and assists the Credit Union in the establishment of controls to mitigate risks. Assists the BSA Officer in ensuring department activities run smoothly and efficiently. The position of BSA Compliance Analyst is required to be fully knowledgeable and skilled in all areas of the BSA department.

Essential Functions & Responsibilities

  • Maintains current knowledge of the Bank Secrecy Act and all related anti-money laundering and OFAC regulations.
  • Assists in the development and implementation of bank forms, notices, procedures and monitoring processes for compliance with the Bank Secrecy Act, OFAC, and related regulations.
  • Assists in the development, coordination, and facilitation of training programs to educate bank personnel about BSA related compliance requirements and procedures.
  • Performs daily review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large currency activity; determines if transactions are suspicious in nature, such as kiting, significant changes in balances, cash structuring in deposits, loans payments, and certificate of deposit purchases, wire or ACH transfers, monetary instrument sales, new account openings, etc.
  • Assists in the monitoring of account activity for suspicious patterns and activity, conducts suspicious activity report investigations, high-risk customer/account reviews, and recommends when to file Suspicious Activity Reports (SARs). May assist in the filing of the SARs when necessary.
  • Assists in the preparation and submission of all Currency Transaction Reports (CTRs) within required timeframes.
  • Performs customer and transaction analytics to identify trends and possible suspicious activity.
  • Assists in compliance with 314(a) and 314(b) (PATRIOT Act) responsibilities.
  • Assists in the administration of the automated BSA/AML/Fraud system, researches, and resolved alerts and conducts investigations within the system.
  • Assists with New Account Business Risk Profiles
  • Assists in the preparation of the BSA Risk Assessment and the updates quarterly.
  • Assists in special projects and tasks for the department as directed.
  • Assists in the development, revision or reviews of credit union policies and procedures to comply with legislative and regulatory changes or new requirements.
  • Assists with self-assessments as needed. May assists in the preparation and coordination of independent audits and regulatory examinations.
  • Additional duties as assigned


The specific minimum competencies (education and experience) required to perform this job successfully. An individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • Three years of general banking or regulatory agency experience, with an emphasis in compliance and/or operations.
  • College degree preferred, or equivalent banking experience.
  • Understanding of legislative and regulatory processes.
  • Ability to proactively identify and assess potential concerns and risks.
  • Ability to resolve issues, work independently, and meet deadlines.
  • Persuasive and team-oriented.
  • Ability to communicate effectively with staff at all levels.
  • Basic knowledge of Bank administration, lending and operations products, and services; related state and federal laws and regulations and other Bank operational policies and procedures.
  • Effective verbal, written, and interpersonal communication skills with the ability to instruct others, train personnel, write reports, correspondence, and procedures, and speak clearly to customers and employees.
  • Good organizational and time management skills.

The physical demands described here are representative of those that must be met by an employee to perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit, stand, walk, talk and hear. The employee must occasionally lift and/or move up to ten pounds. The employee must be able to sit for long periods of time and communicate orally, both over the phone and face-to-face, with members and vendors. The employee must be able to view a computer monitor and use an alpha-numeric keyboard. Specific vision abilities required by this job include close vision, distance vision and color vision.

The noise level in the work environment is usually moderate.

Tremont Credit Union provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics. In addition to federal law requirements, Tremont Credit Union complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.

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Associated topics: attorney, attorney corporate, corporate, court, courtroom, internal, legal, legal affairs, llp, market * The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.

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