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BSA/AML Risk Specialist

Company: Tech Providers Inc.
Location: Weston
Posted on: January 12, 2021

Job Description:

Job Title: Customer Risk Specialist I Location: Weston, FLDuration: 6-12 month contractJob Summary: In broad terms, briefly state the major purpose or primary objective of this job.* Conducts Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) for depository and credit customers that may present a higher tier of risk to the Bank.* Assesses customers for BSA/AML (Bank Secrecy Act/Anti-Money Laundering) risk and assigns risk ratings.* Utilizes a variety of resources and tools to develop a base of information from which to draw inferences and conclusions in the evaluation of risk identification, measurement, monitoring and control systems within the Bank.* Prepares key points to be presented to the CRU Manager pertaining to customers that pose high risk factors to the Bank and/or are to be considered for closure.* Assists in minimizing and assessing BSA/AML risks to the Bank by executing customer risk procedures to mitigate unreasonable risks and potential losses to the Bank.Job Duties & Responsibilities: * Using brief narrative statements, describe each major function or responsibility explaining the scope of the function as appropriate.* Performs Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) on current, new and/or potential customers that may present a higher tier of risk to the bank.* Performs reviews of new inherently high risk customers and conducts 180-day Inherently High Risk New Account Risk Assessments by applying research and investigations strategies to assess customers for BSA risk.* Prepares and adequately supports recommendations to escalate potential unusual activity.* Provides guidance and respond to daily inquiries from peers, front-line and management regarding Know Your Customer (KYC) and Customer Identification Program (CIP) due diligence matters and case analysis, when appropriate.* Evaluates the validity and reliability of the Customer Information Profile (CIP), CDD or EDD information gathered by conducting moderately complex searches of informational databases and other research sources.* Applies research and risk methodology to assess customers for BSA risk and recommends risk rating assignments.* Retrieves and reviews financial transactions to identify activity commensurate with customer relationships that pose a higher financial risk exposure to the bank with emphasis on money laundering or terrorist financing.* Identifies customer records that require further review and takes action to obtain and follow-up on attaining the information and/or documentation requested.* Interacts with line-of-business contacts to understand client behavior and communicate activity of interest and/or concern and recommend CIP updates, as necessary.* Applies knowledge of risks, patterns and trends related to money laundering and terrorist financing that may pose a higher risk to the bank when reviewing new customer relationships.* Notifies management about adverse media findings that may pose financial and/or reputational risk factors to the Bank.* Prepares and adequately supports recommendations to escalate potential unusual activity and/or recommendations for closure of accounts.* Assists management with preparation, research and response during audit and examinations.* Assists management with other activities such as project implementation, management reporting, and other special projects that are system related or involve special reviews.* Identifies and recommends possible enhancements to department processes and procedures.* Attends BSA/AML training seminars as assigned.* Operates in full compliance with internal policies and procedures as well as applicable regulations and laws, including Bank Secrecy Act/Anti-Money Laundering requirements.* Each team member is expected to be aware of risk within their functional area.* This includes observing all policies, procedures, laws, regulations and risk limits specific to their role.* Additionally, they should raise and report known or suspected violations to the appropriate Company authority in a timely fashion.Required Qualifications: * Describe the minimum amount/type of education, knowledge, years of experience, specific skills and abilities required to perform the job on a fully competent basis. Include all required certifications, licenses and/or training.Minimum Education: * Bachelor's degree or an equivalent combination of education and experience.Minimum Experience: * Two years of related experience and/or training with emphasis on BSA Compliance and enhanced due diligence in accordance with KYC, CIP, and AML/BSA guidelines may substitute for degree requirements.* Certification(s): Required Knowledge, Skills, & Abilities: * Describe the specific work-related knowledge, behavioral or technical skills, and abilities that are required.* Ability to read, analyze, and interpret Federal and State Banking Regulations* Strong written and verbal communication skills to write reports and business correspondence* Proficiency using Microsoft Office software productsPreferred Knowledge, Skills, & Abilities: * Describe the work-related education, knowledge, behavioral or technical skills, and abilities that are preferred.* Knowledge of Bank Secrecy Act and Anti-Money Laundering regulations* Financial services/banking industry experience

Keywords: Tech Providers Inc., Fort Lauderdale , BSA/AML Risk Specialist, Other , Weston, Florida

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