Transaction Monitoring Analyst I

Job Description

Job Description

Transaction Monitoring (TM) Analyst I

CORPORATE TITLE : Non-Officer

DEPARTMENT : BSA (Transaction Monitoring Team)

REPORTS TO : VP, TM Team Lead

COMPLIANCE STATEMENT

Adheres to Bank policies and procedures and complies with all State and Federal banking regulatory requirements, including but not limited to Sarbanes-Oxley Act, Bank Secrecy Act, Anti-Money Laundering, OFAC, Customers Right to Privacy Act, Regulation D, Regulation DD / Truth in savings, USA Patriot Act, CIP, Elder Care, Sexual Harassment, Information Security and Privacy requirements as they pertain to this position.

POSITION OVERVIEW

The Transaction Monitoring (TM) Analyst I is an entry-level role within the BSA Department’s Transaction Monitoring Team. The TM analyst is responsible for conducting timely and accurate reviews of transaction monitoring alerts. The role requires strong analytical skills, attention to detail, and a foundational understanding of AML compliance.

KEY RESPONSIBILITIES

• Review and disposition transaction monitoring alerts in accordance with internal procedures and regulatory expectations. Document alert reviews and decisions in a clear, concise, and auditable manner.
• Conduct daily validation of AML transactional data ensuring accuracy and completeness.
• Identify patterns of potentially suspicious activity and escalate cases for further review.
• Communicate with internal departments (e.g., branch operations) to obtain necessary customer or transaction information.
• Verify customer information in accordance with Know Your Customer, CIP, and Customer Due Diligence (CDD) requirements.
• Maintain awareness of current AML trends and typologies.
• Ensure compliance with all applicable laws, regulations, and internal policies, and complete all required training within designated timeframes.
• Stay abreast of regulatory updates pertaining to Bank Secrecy Act and emerging topics
• Support senior analysts and team leads with special projects and investigations as needed.

QUALIFICATIONS & SKILLS

EDUCATION & EXPERIENCE

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