Responsible for monitoring customer account activities to identify suspicious activities and reports it on Suspicious Activity Report (SAR) to Fin CEN.
- Must investigate and clear or report (as applicable) potential OFAC hits. Requires good working knowledge of Office of Foreign Asset Control (OFAC) Regulations
- Must perform enhanced due diligence to support import – export letters of credit. Requires basic understanding of Anti-boycott laws and regulations: the Export Administration Act (EM) and the Regulations (EAR)
- Monitors high risk products, services, customers, and involved entities as assigned. Investigates suspicious activities on high and medium risk accounts, and on Alerts as assigned.
- Creates investigation-case files, prepares and submits for approval Suspicious Activity Reports (SAR) within regulatory deadlines. SARs must meet regulatory requirements and must not contain any technical errors. For Repeat SARs prepares data and recaps of SAR reasons to ARCO Committee.
- Does extensive web searches on multiple search engines to do Enhanced Customer Due Diligence, clear potential OFAC hits, research parties to letters of credit, wires, ACH, and IAT transactions.
- Does 314a searches on BAM within regulatory deadline and maintains confidentiality.
- Writes and submits procedural changes and updates to the Department’s Desk Procedures for the monitoring processes assigned to the analyst.
- Conducts OFAC scrubs on ACH and IAT transactions. Does OFAC scrubs on FENB Personnel, FENB deposit and loan customer base, including Vietnam database.
||Knowledge, Skills, and Abilities Required:
- Minimum of 3 years of experience at a financial institution in BSA department required or related field;
- Must be very familiar with the use of the Bank’s BSA/AML monitoring application systems and how to obtain information from various systems and reports;
- Knowledge of FIS System and related support systems such as Teller-Insight and Bankers’ Toolbox;
- Must be analytical, creative, flexible, and manage well in a fast-paced, rapidly changing environment;
- Must be able plan and monitor activities according to priorities and multi-task;
- Good organizational, problem-solving (solutions-oriented approach), negotiation and follow-up skills;
- Good command of oral and written communication skills;
- Computer literate, high level of proficiency using Microsoft Word, Excel, and PowerPoint required
Far East National Bank is an Equal Opportunity Employer/Minorities/Women/Protected Veterans/Individuals with Disabilities.