Royal Business Bank
BSA EDD Analyst (Los Angeles)
Royal Business Bank, Los Angeles, California, United States, 90079
JOB SUMMARY
The BSA Enhanced Due Diligence (EDD) Analyst supports the BSA Officer in the implementation, execution, and administration of the BSA compliance program particularly as it relates to ongoing customer due diligence (CDD), know your customer (KYC) regulations, and EDD investigations on the Banks high-risk customers.
DUTIES Perform EDD reviews by analyzing transactional data, conducting research, documenting evidence, and identifying potential money laundering activities in accordance with the BSA/AML/OFAC monitoring policy. Review KYC/CDD documentation to ensure accuracy, completeness, and consistency in accordance with internal policies and regulatory requirements. Support the identification of potential money laundering indicators during EDD reviews and escalate relevant cases to the Suspicious Activity Report (SAR) Team in accordance with regulatory timeframes and internal policies and procedures. Ensure all records and documents are maintained in an organized manner and according to legally prescribed retention schedules. Facilitate effective communication and collaboration with branch personnel and cross-functional departments to ensure timely resolution of compliance-related inquiries. Maintain tracking of monthly pending items and statistics in the BSA/AML Dept. Participate in system and workflow tuning exercises to enhance the effectiveness of the monitoring system and department processes. Provide effective and accurate compliance support to the Banks business and operating units in connection with BSA/AML/OFAC matters. Stay informed of emerging trends, regulatory updates, and enforcement priorities related to AML/CFT including guidance from FinCEN, FATF, and other domestic and international regulatory bodies. Assist in providing training and support as needed. Perform additional responsibilities as assigned, which may include supporting cross-functional workflows from teams such as the SAR Team, Transaction Monitoring Team, OFAC Team, and/or the BSA QC Team.
QUALIFICATIONS EDUCATION: Bachelors degree or equivalent. EXPERIENCE: Minimum of 1 year of experience in BSA/AML analysis at a US Financial Institution. Experience in banking operations, regulatory, legal, or auditing environment with significant exposure to regulatory compliance matters preferred.
SKILLS/ABILITIES Excellent analytical, research, project management, and planning skills PC proficient Organized and detail-oriented Strong written and verbal communication skills. Knowledge of BSA/AML, USA PATRIOT Act, OFAC laws and regulations, and CTR and SAR reporting requirements.
Applicants must be authorized to work in the United States without the need for visa sponsorship now or in the future.
WHY WORK FOR US? Since opening our first branch in Los Angeles in 2008, Royal Business Bank (RBB) has grown rapidly by adding branches in Southern California, Nevada, New York, New Jersey, Chicago and Hawaii. We offer a comprehensive and innovative suite of banking services for individuals and businesses. We have great benefits that include, but not limited to:
Medical insurance Vision insurance Dental insurance 401(k) Disability insurance
Royal Business Bank may collect personal information from potential job candidates and applicants. For more information on how we handle personal information and your applicable rights, please review our Privacy Policies
(GLBA Privacy Notice, California Consumer Privacy Act and Online Privacy) at our website www.royalbusinessbankusa.com .
Royal Business Bank is an Equal Employment Opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, protected veteran status, disability status, sexual orientation, gender identity or expression, marital status, genetic information, or any other characteristic protected by law.
DUTIES Perform EDD reviews by analyzing transactional data, conducting research, documenting evidence, and identifying potential money laundering activities in accordance with the BSA/AML/OFAC monitoring policy. Review KYC/CDD documentation to ensure accuracy, completeness, and consistency in accordance with internal policies and regulatory requirements. Support the identification of potential money laundering indicators during EDD reviews and escalate relevant cases to the Suspicious Activity Report (SAR) Team in accordance with regulatory timeframes and internal policies and procedures. Ensure all records and documents are maintained in an organized manner and according to legally prescribed retention schedules. Facilitate effective communication and collaboration with branch personnel and cross-functional departments to ensure timely resolution of compliance-related inquiries. Maintain tracking of monthly pending items and statistics in the BSA/AML Dept. Participate in system and workflow tuning exercises to enhance the effectiveness of the monitoring system and department processes. Provide effective and accurate compliance support to the Banks business and operating units in connection with BSA/AML/OFAC matters. Stay informed of emerging trends, regulatory updates, and enforcement priorities related to AML/CFT including guidance from FinCEN, FATF, and other domestic and international regulatory bodies. Assist in providing training and support as needed. Perform additional responsibilities as assigned, which may include supporting cross-functional workflows from teams such as the SAR Team, Transaction Monitoring Team, OFAC Team, and/or the BSA QC Team.
QUALIFICATIONS EDUCATION: Bachelors degree or equivalent. EXPERIENCE: Minimum of 1 year of experience in BSA/AML analysis at a US Financial Institution. Experience in banking operations, regulatory, legal, or auditing environment with significant exposure to regulatory compliance matters preferred.
SKILLS/ABILITIES Excellent analytical, research, project management, and planning skills PC proficient Organized and detail-oriented Strong written and verbal communication skills. Knowledge of BSA/AML, USA PATRIOT Act, OFAC laws and regulations, and CTR and SAR reporting requirements.
Applicants must be authorized to work in the United States without the need for visa sponsorship now or in the future.
WHY WORK FOR US? Since opening our first branch in Los Angeles in 2008, Royal Business Bank (RBB) has grown rapidly by adding branches in Southern California, Nevada, New York, New Jersey, Chicago and Hawaii. We offer a comprehensive and innovative suite of banking services for individuals and businesses. We have great benefits that include, but not limited to:
Medical insurance Vision insurance Dental insurance 401(k) Disability insurance
Royal Business Bank may collect personal information from potential job candidates and applicants. For more information on how we handle personal information and your applicable rights, please review our Privacy Policies
(GLBA Privacy Notice, California Consumer Privacy Act and Online Privacy) at our website www.royalbusinessbankusa.com .
Royal Business Bank is an Equal Employment Opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, protected veteran status, disability status, sexual orientation, gender identity or expression, marital status, genetic information, or any other characteristic protected by law.