BSA/AML Specialist I - Alert Reviewer

Opportunities at Towne; Suffolk (VA); On-site; USD 60,000 - 85,000; Full time

Job summary

TowneBank is seeking a detail-oriented BSA/AML Specialist I Alert Reviewer to investigate unusual activity identified by the bank's monitoring system. You will prepare clear narratives and determine escalation paths for potential suspicious activity, ensuring adherence to regulatory timelines.

The role requires 2–3 years in banking or similar, knowledge of BSA/AML and OFAC rules, and strong analytical and communication skills in a fast-paced environment.

Qualifications

• 2-3 years banking or similar experience.
• Knowledge of federal BSA/AML and OFAC regulations.
• Excellent analytical and problem-solving skills.
• Ability to comply with regulatory deadlines in a fast-paced environment.
• Ability to handle confidential customer information.

Responsibilities

• Review unusual activity flagged by the bank's monitoring system using internal systems, open-source searches, and transaction history.
• Assess whether alerted activity matches money laundering or other financial crime red flags and escalate when appropriate.
• Disposit ion alerts within monthly SLAs and deadlines.
• Assist BSA Management with department projects as needed.
• Support below-the-line testing for alert optimization and tuning.

Skills

Analytical skills

Problem solving

Regulatory knowledge

Communication

Attention to detail

Microsoft Office

Independent worker

Team player

BSA/AML knowledge

Education

Bachelor's degree in business/criminology/accounting/economics

Job description

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 Alert Review team works within the BSA/AML Department to investigate unusual activity identified through the Bank’s automated transaction monitoring system.

The BSA/AML Specialist I Alert Reviewer’s primary objective is to investigate anomalous activity identified through system generated alerts to determine if the activity warrants further escalation for suspicious activity reporting such as money laundering and terrorist financing. The alert review process includes a review of customer accounts to identify red flags or transactions that appear to be out of pattern for the customer. The Alert Reviewer is responsible for preparing clear and concise narratives documenting the analysis and research done to support the disposition of the alerts.

• Conduct reviews of unusual activity identified through system generated alerts using internal bank systems, open-source searches, and transaction history analysis.
• Determine if alerted activity is consistent with red flags for money laundering or other financial crimes and elevate to next level review when necessary.
• Disposition alerts within department deadline expectations, this position must meet monthly SLAs.
• Assist BSA Management with department projects as needed.
• Assist with below-the-line testing for alert optimization and tuning as needed.

Minimum Required Skills & Competencies:

• 2-3 years banking or similar experience with knowledge of branch and/or loan operations.
• General knowledge of federal requirements under the Bank Secrecy Act and Office of Foreign Assets Control (OFAC) regulations.
• Excellent analytical and problem-solving skills.
• Ability to comply with regulatory deadlines and work in a fast-paced environment.
• Ability to handle confidential customer information.
• Knowledge of bank products and services.
• Ability to work independently and possess a team player attitude.
• Strong written and verbal communication skills.
• Detail oriented with good organization skills.
• Working knowledge of Microsoft Office Suite.

Desired Skills & Competencies:

• Bachelor’s degree in related fields such as business management, criminal justice, accounting, or economics.
• Working knowledge of federal requirements under the Bank Secrecy Act including Customer Identification Program, USA PATRIOT Act and Office of Foreign Assets Control (OFAC) regulations and be familiar with FFIEC BSA/AML Manual guidelines.
• Experience in a financial institution with asset size $10B and over.

Physical Requirements:

• Express or exchange ideas by means of the spoken word via email and verbally.
• 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 are representative of those that must be met by an employee to successfully perform the essential responsibilities of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential responsibilities.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
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