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Senior BSA Analyst Location US-CA-Pasadena Job ID 2019-7252 Category Legal Compliance Position Type Full-Time
For more than 40 years, East West Bank has served as a pathway to success. With over 130 locations across the U.S. and Greater China, we are the premier financial bridge between the East and West. Our teams of experienced, multi - cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities, and our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, high-tech and aviation help build sustainable businesses and expand our employees' potential for career advancement.
Headquartered in California, East West Bank (Nasdaq: EWBC) is a top performing commercial bank with an exclusive focus on the U.S. and Greater China markets. With assets of $41 billion, we've ranked among the 30 largest banks in the United States. And since 2010, we have been recognized by Forbes as one of the top 15 best banks in America. With a strong foundation, and enterprising spirit and a commitment to absolute integrity, East West Bank gives people the confidence to reach further.
East West Bank is currently seeking a Senior Bank Secrecy Act (BSA) Analyst for the BSA Department. This person will report up to the Deputy BSA Officer in our Pasadena location. The Senior BSA Analyst will review new and existing high risk customer accounts to ensure compliance with BSA, USA Patriot Act and other regulatory requirements. The customer reviews covers the full end-to-end BSA monitoring process such as performing initial/ongoing due diligence and mitigating risk, monitoring AML transaction alerts, identifying and reporting suspicious activity, escalate pertinent issues, while working closely with relationship managers, account officers and/or customers in addition to BSA management throughout the process.
Conduct initial enhanced due diligence for prospective higher risk customers and recommend decision to onboard/decline based on supporting risk assessment (e.g. customer type, geographic, products/services, counterparties, beneficial owners, expected transactions, etc.) performed on the prospect as well as related parties and determine risk rating.
Continue to monitor and perform periodic enhanced due diligence reviews of approved high risk individuals and entities based on customer's risk profile
Review and make decision on AML/ suspicious transaction monitoring alerts and file initial and supplemental suspicious activity reports (SAR) to FinCEN on a timely basis, as warranted.
Analyze data, review customer documentation (e.g. invoices, POS reports, and manifests) and results of existing transaction monitoring reports to determine the level of further investigation warranted, and take appropriate action.
Gather information from outside resources such as Internet searches, third-party vendors, public records, newspaper articles, court records, government agencies, etc.
Conducts follow-up with the relationship manager, account officer or customer for any missing or necessary documentation in a timely manner.
Reviews results from third-party vendors regarding authentication of identification on individuals and businesses, OFAC and government list, closed for cause, etc.
Promptly escalates to appropriate department on issue that arises (e.g. operational, security, legal, management committees, IT, etc.)
Present business cases to management level committees, as warranted for further resolution and/or next actionable steps involving high risk/complex customers
Develops relationships within appropriate levels of staff for issue identification and resolution (e.g. account closures).
Prepares and documents analysis on summary write-ups.
Completes all required training on a timely basis.
Proactively stays up to date and knowledgeable on internal policies, procedures, BSA/AML/OFAC and related regulatory requirements, FinCEN guidelines, local/state requirements and industry practices.
Use analytical skills to produce and follow leads, as well as link common or related activities to develop complete picture of suspicious activity and uncover new trends in suspicious behavior
Assist BSA Officer/Managers and internal partners on preparing, logging and providing documents/materials per request from law enforcement officials, regulators, auditors, etc.
Additional duties as assigned.
5+ years' experience of BSA/AML/OFAC related activities in financial services industry
Experience conducting financial crime investigations, money laundering monitoring and/or other related BSA/AML experience
Banking, operations, BSA & USA Patriot acts background including performing EDD reviews on complex relationships required
Bachelor's Degree preferred or equivalent experience
Well-organized, analytical, and critical thinking skills
Excellent verbal and written communication
Strong attention to detail, writing skills
Ability to work in a fast paced environment, creative out-of-the-box thinker, internet savvy, solutions oriented, handle tight deadlines, adaptable to changes in requirements
Able to meet production and quality goal requirements set by BSA management
Experience with NICE Actimize preferred
CAMS certification preferred
Options Sorry the Share function is not working properly at this moment. Please refresh the page and try again later. Share on your newsfeed Connect With Us! Not ready to apply? for general consideration. East West Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other legally protected status. Reasonable accommodations for disability are provided to applicants and employees in accordance with applicable law.