Enhanced Due Diligence Analyst II

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The Position

Job TitleEnhanced Due Diligence Analyst II

Job Description

SUMMARY

The Enhanced Due Diligence Analyst II is responsible for mitigating anti-money laundering risk to the bank by assisting the BSA Risk Manager with identifying customer risk, performing various reviews, and completing enhanced due diligence to ensure compliance with the Bank Secrecy Act Program.

MAJOR DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS)

Conducts risk assessments on new and existing customers to determine degree of risk to the bank. Uses discretion to determine the necessity of blocking suspicious transactions and determining whether a customer relationship should be terminated. Performs Enhanced Due Diligence (EDD) reviews of high-risk customers. Uses customer risk scoring models in accordance with departmental processes and procedures. Monitors multiple complex suspicious events involving matters such as multiple relationship accounts, tiered and multi-faceted transactions, domestic and international wires (some involving Bank designated high-risk jurisdictions), and complex cash structuring schemes. Compiles/analyzes data and maintains necessary records and files escalating cases for further review to SAR committee to ensure efficient and consistent reporting of suspicious investigations. Complete EDD reviews in a timely and efficient manner. Assist with the implementation and maintenance of a due diligence process that is appropriate for identifying suspicious and/or fraudulent activity. Consult with BSA Management on emerging risks and procedural changes to ensure an efficient and well-organized program. Be knowledgeable of products, services, customers, geographic locations, and potential money laundering and terrorist financing risks associated with those activities.

ADDITIONAL DUTIES AND RESPONSIBILITIES

• Responds to inquiries or refers inquiries to the appropriate parties and exhibits the necessary follow through with customers and/or staff involved.
• Assumes responsibility for various department functions in the absence of staff members or in overload situations.
• Serves as subject matter expert for Community Bank staff on AML/KYC risk.
• Completes all required compliance exams on a yearly basis.
• Adherence to all First United Policies and Procedures.
• Dress professionally.

EMPLOYEE SPECIFICATIONS

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.

Education and Work Experience

• Minimum 3 years’ experience in BSA/AML compliance analysis and investigation experience.
• Familiarity with banking products & services, operations, and customer/transaction types.
• General understanding of federal BSA/AML/OFAC regulations required.
• ACAMS certification
• Bachelor’s degree or equivalent job experience required.  

Technical/Functional Competencies

• Ability to professionally interface (both orally and in writing) with Management and Team members, State and Federal regulators and officials, and business partners. 
• Ability to work with highly confidential and sensitive business information and to maintain high standards of confidentiality related thereto.
• Proficient in Microsoft Office or similar software programs.
• Strong analytical skills, attention to detail, and the ability to research and gather information.
• Ability to work independently and in a team environment to achieve department goals and objectives consistent with First United’s standards of excellence.
• Must be comfortable managing multiple and/or shifting priorities, and produce professional and accurate work product, sometimes under time constraints.
• Must possess the desire to increase learning and gain further expertise on AML/BSA/OFAC compliance matters.

NOTE: This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned by supervisor to meet the ongoing needs of the organization.

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All Locations:Plano-Parkwood, Sherman-Taylor Street

If any applicant is unable to complete an application or respond to a job opening because of a disability, please email us at [email protected] for assistance. 

First United is an Equal Opportunity Employer. To the extent required by Federal or State law, First United does not discriminate in employment opportunities or practices on the basis of race, color, religion, sex, national origin, or any other characteristic protected by law.