Bank Secrecy Act Analyst I, South Bend, IN

Responsible for analyzing reports and conducting investigations to ensure that customer account activity is not in violation of the Bank Secrecy Act (BSA) or the Office of Foreign Assets Control (OFAC) regulations.

Requirements

• Works as a team member of the BSA AML Compliance Department to ensure that 1st Source Bank maintains compliance with the BSA and OFAC regulations.
• Conducts investigations into customer account activity that has been identified as suspect so that a determination may be made as to any reporting that may be required under the BSA.
• Files Suspicious Activity Reports on activity identified and deemed suspicious with FinCEN.
• Analyzes reports to ensure that the bank files Currency Transaction Reports or any other reports as may be required by the BSA or OFAC regulations.
• Conducts appropriate reviews as prescribed by the BSA of any accounts that the bank may elect to exempt from the BSA reporting requirement.
• Processes possible OFAC matches and escalates at appropriate.
• Processes Financial Crimes Enforcement Network (FinCEN) 314(a) list and reports back to FinCEN any accounts for those on the 314(a) list.