BSA/AML Compliance Analyst ~ Ipswich, Boston

Bank Rhode Island
US - Rhode Island - Lincoln
November 17, 2024

Principal Objective

As a federally regulated financial institution, Brookline Bancorp, Inc.
(the "Company") plays an important role in the battle to protect the United States financial system from abuse by criminals.
The Company's Financial Intelligence Unit ("FIU") is committed to supporting law enforcement efforts to combat serious financial crimes including money laundering and terrorist financing.
Within the FIU AML Team, the incumbent performs and supports a variety of important anti-money laundering disciplines.
Responsibilities include due diligence analysis, research and review of new customers and existing customers for appropriate risk classification, performing enhanced due diligence reviews on higher risk customer segments, investigating and researching due diligence monitoring system alerts for potentially higher risk customers and activities, coordinating the remediation of due diligence exceptions and issues, and any additional necessary duties supporting the Company's anti-money laundering programs, compliance with the Bank Secrecy Act ("BSA") and economic sanctions programs administered by the Office of Foreign Assets Control ("OFAC").

Principal Duties and Responsibilities

Performs due diligence and, as applicable, enhanced due diligence analysis and research on new customers, beneficial owners, and relationships;
Remediates incomplete and insufficient due diligence information essential for customer money laundering risk ratings;
Conducts research and investigations of higher risk and potentially higher risk customers for suitability in accordance with the Bank's anti-money laundering account opening and retention standards;
Performs enhanced due diligence customer reviews on higher money laundering risk customers;
Collects and reviews annual due diligence questionnaires for higher risk customer segments designated by the Bank;
Updates and maintains the integrity of essential monitoring system data including but not limited to customer risk factors;
Prepares and maintains notes, findings and documentation in accordance with FIU standards to sufficiently support due diligence research conclusions;
Prepares and presents case summaries and reports escalated to the Bank's SAR Committee as required;
Consistently produces and maintains quality work within mandated deadlines in accordance with FIU and regulatory standards;
Provides support and guidance to business line partners about BSA and other applicable financial crimes matters;
Collaborates with other FIU members in furtherance of the FIU's strategic objectives and applicable regulations;
Escalates issues and situations requiring the attention of FIU AML supervisors, managers and the BSA Officer;
Performs ancillary duties as required at the direction of FIU AML supervisors, managers and the BSA Officer;
Adapts to and incorporates FIU AML supervisor, manager and BSA Officer feedback to improve productivity and quality;
Maintains and integrates knowledge of emerging financial crimes trends in the performance of daily tasks and functions; and
At all times, preserves the integrity of the Company's anti-money laundering and economic sanctions policies, procedures, systems and controls.

Job Specifications (Knowledge, Skills and Abilities Required)

Associates degree or equivalent experience
Minimum 3 years' experience in a BSA/AML or sanctions role within a financial institution or similar role
Sound practical knowledge of BSA/AML regulations and requirements particularly surrounding customer due diligence ("CDD"), Know Your Customer ("KYC") standards, and suspicious activity monitoring and reporting ("SARs")
Certified Anti-Money Laundering Specialist ("CAMS") or equivalent advanced certification preferred
Familiarity with Verafin systems a plus
Comprehensive understanding of products, services and transaction processing channels within a financial institution
Strong analytic, research and investigative skills necessary
Excellent prioritizing, time management and multi-tasking skills a must
Exceptional quality and integrity of work produced within tight deadlines
Ability to function both independently and within collaborative team environments
Solid computer skills including the use of Microsoft Office products
Excellent written and verbal communications skill

Read the full job description and apply online on the recuiter's web-site

BSA/AML Compliance Analyst ~ Ipswich, Boston

BSA/AML Compliance Analyst ~ Ipswich, Boston

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