Job Description
Primary Purpose: This position is a part of BSA/AML Department, a team that is integral to TowneBank's efforts in the fight against money laundering and terrorist financing. The BSA/AML Department assists the Bank's businesses to design effective processes through the development of consistent and cohesive policies and programs to ensure compliance with all applicable anti-money laundering and Office of Foreign Asset Control (OFAC) regulations. The BSA/AML Know Your Customer (KYC) team works within the BSA/AML Department to ensure that required customer onboarding requirements are met as knowing your customer provides the foundation of the Bank's BSA/AML Program.
The BSA/AML Specialist II - KYC's primary objectives are to confirm that required customer identifying information is collected and verified at onboarding, and to ensure that Customer Due Diligence (CDD) information, including beneficial ownership for non-exempt legal entities, is collected and updated as needed throughout the customer relationship. KYC Specialists act as subject matter experts on the Bank's Customer Identification Program and provide support to the branch network.
Essential Responsibilities: - Verify all new customer profiles for deposits, loans, indirect lending, and safe deposit box relationships added to the banking core system for complete identification and verification documentation
- Review input CDD information at onboarding for missing/incomplete information and out-of-footprint relationships
- Review beneficial ownership on new/trigger events per Beneficial Ownership Final Rule and Corporate Transparency AML Act 2020, deposit and loan business accounts, including company documentation with certification of owners and control person
- Communicate KYC exceptions to Account Officers when new accounts are opened for new and existing members with missing or incomplete CIP, CDD information, and Beneficial Ownership
- Conduct due diligence using Lexis Nexis or other internet resources on new and existing customers as needed
- Review unidentified non-US persons and identify past due/missing W8-BENS on non-US persons
- Identify missing and incomplete customer information on the Transaction Monitoring System
- Act as liaison between Investigations/Alerts team to collect additional documentation as part of our ongoing due diligence requirements
- Maintain KYC exception workbooks and document follow-up efforts to clear exceptions
- Complete Annual Bank and AML Training as needed
- Assist BSA Management with other projects as needed
- Adheres to applicable federal laws, rules, and regulations, including Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA).
Minimum Required Skills & Competencies: - 2-3 years of banking or similar experience with knowledge of branch and loan operations
- Working knowledge of federal requirements under the Bank Secrecy Act requirements, including the Customer Identification Program, USA PATRIOT Act, and Office of Foreign Assets Control (OFAC) regulations, and be familiar with FFIEC BSA/AML Manual guidelines
- Ability to handle confidential customer information
- Knowledge of bank products and services
- Ability to develop strong relationships with peers and ability to interact with multiple levels of management, internal and external auditors/examiners
- Ability to multi-task and learn new processes effectively
- Ability to work independently and within a team setting
- Ability to work with retail personnel in a support role
- Strong written and verbal communication skills
- Detail-oriented with good organizational skills
- Working knowledge of Microsoft Office Suite
Desired Skills & Competencies: - 3-5 years of banking experience and knowledge of branch and/or loan operations
- Bachelor's degree in a related field, such as business management, criminal justice, accounting, or economics
- Experience in a financial institution with an asset size of $10B and over
Physical Requirements: - Express or exchange ideas verbally and using the spoken word via email.
- Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.
- Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.
- Not substantially exposed to adverse environmental conditions.
- The physical demands described here represent those that must be met by an employee to perform the essential responsibilities of this job successfully. Reasonable accommodations may enable individuals with disabilities to perform necessary duties
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
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