BSA Specialist / EDD Investigator
VantageSouth Bank - North Carolina

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DESCRIPTION

The BSA Specialist / Enhanced Due Diligence (EDD) Investigator is responsible for assisting the BSA Officer in ensuring adherence to State and Federal regulatory compliance with the Bank Secrecy Act, USA PATRIOT Act and OFAC. Analyzes, investigates and reports on suspicious activity alerts and/or cases involving potential Anti-Money Laundering or Terrorist Financing. Performs monitoring activities to ensure bank's compliance with the Bank Secrecy Act, USA PATRIOT Act, and OFAC. Interacts with various business unit personnel and management to ensure compliance with laws and regulations. Establishes and maintains relationships with external contacts including but not limited to members of various law enforcement agencies. The position works within the supervision of the BSA Officer and is required to exercise independent judgment, discretion, to include, decision-making in lieu of the BSA Officer.

DUTIES

Assesses and mitigates risks associated with high risk customers through enhanced due diligence reviews;
Detects monitors, analyzes and reports suspicious activity with respect to money laundering and terrorist financing.
Monitors and assists with investigating complex customer activity in order to ensure the bank is not doing business with persons involved in money laundering or terrorist financing or with prohibited persons or entities designed by OFAC and other law enforcement agencies.
Investigates and analyzes suspicious alerts generated through the Bank's BSA/AML detection software systems, to include investigating suspicious activity reports received from business units;
Assists BSA Officer with investigates financial transactions, determining the outcome of an investigation, documenting findings and completing cases within a specified time frame.
Performs and assists BSA Officer with conducting ongoing compliance reviews to ensure adherence with requirements associated with the Bank Secrecy Act, Office of Foreign Assets Control (OFAC), and USA PATRIOT Act; specifically responsible for 314a reviews, CTR reviews, OFAC alerts, monetary instrument log (MIL) reviews, and CIP/KYC new account reviews.
Assists BSA Officer with implementing internal policies and control procedures within the bank to ensure thorough knowledge and understanding of guidance, laws and regulations
Make recommendations to improve policies and procedures to maximize departmental resources.
Responsible for performing tasks in a manner that are compliant with applicable laws and regulations and / or that serve to help the company be in compliance with laws and regulations that apply to the business line the position supports.
Remains current on legal and regulatory requirements associated with the BSA, AML, and OFAC.
Assists with de-marketing/exiting account relationships that are determined to be too high-risk by management.
Assists with special projects as needed.

QUALIFICATIONS

Two to five plus (2-5) years experience in BSA/AML compliance, investigative work, audit, risk management or a related field. Bachelor's Degree preferred.
Proficient knowledge of the Bank Secrecy Act, Anti-Money Laundering efforts, USA PATRIOT Act and OFAC laws and regulations.
Proficient personal computer skills to include spreadsheet, word-processing, database systems and other software utilized by the department
Strong understanding of bank systems, BSA/AML systems/platforms for detection suspicious activity
Excellent written, verbal communication and presentation skills
Strong analytical abilities, problem solving skills, and investigation skills
Must possess a strong ability to use expert resources, including the Internet
Exceptional ability to multi-task and prioritize projects
Ability to coordinate and work collaboratively with internal and external contacts on a daily basis
Strong ability to identify efforts that will improve organizational efficiency
Record of achieving results in self and in fellow team members
Must possess self-motivation and organizational skills
Ability to read and understand Federal and State guidance, laws and regulations
Assesses and mitigates risks associated with high risk customers through enhanced due diligence reviews;
Detects monitors, analyzes and reports suspicious activity with respect to money laundering and terrorist financing.
Monitors and assists with investigating complex customer activity in order to ensure the bank is not doing business with persons involved in money laundering or terrorist financing or with prohibited persons or entities designed by OFAC and other law enforcement agencies.
Investigates and analyzes suspicious alerts generated through the Bank's BSA/AML detection software systems, to include investigating suspicious activity reports received from business units;
Assists BSA Officer with investigates financial transactions, determining the outcome of an investigation, documenting findings and completing cases within a specified time frame.
Performs and assists BSA Officer with conducting ongoing compliance reviews to ensure adherence with requirements associated with the Bank Secrecy Act, Office of Foreign Assets Control (OFAC), and USA PATRIOT Act; specifically responsible for 314a reviews, CTR reviews, OFAC alerts, monetary instrument log (MIL) reviews, and CIP/KYC new account reviews.
Assists BSA Officer with implementing internal policies and control procedures within the bank to ensure thorough knowledge and understanding of guidance, laws and regulations
Make recommendations to improve policies and procedures to maximize departmental resources.
Responsible for performing tasks in a manner that are compliant with applicable laws and regulations and / or that serve to help the company be in compliance with laws and regulations that apply to the business line the position supports.
Remains current on legal and regulatory requirements associated with the BSA, AML, and OFAC.
Assists with de-marketing/exiting account relationships that are determined to be too high-risk by management.
Assists with special projects as needed.

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