BSA Analyst

Needham Bank; Portsmouth (NH); Hybrid; USD 60,000 - 90,000; Full time

Benefits offered by this job

Medical and dental insurance

HRA

401(k) with 8% match

PTO and holidays

Tuition reimbursement

Employee Assistance Program

Job summary

Needham Bank is seeking a dedicated BSA/AML Risk Analyst to support the bank's anti-money laundering, OFAC, and related compliance programs. The role involves risk data management, alert reviews, investigations, and ensuring timely regulatory reporting.

You will work with multiple business units to maintain data integrity, monitor accounts and transactions, escalate findings, and uphold the bank's confidentiality and ethics standards while contributing to a collaborative, customer-focused

Qualifications

• Knowledge of BSA/AML/OFAC regulations and bank policies.
• Strong written and verbal communication skills.
• Proficiency in Excel, Word, and Outlook; quick to learn new software.
• Bachelor's degree in criminal justice, forensic accounting, or related field.

Responsibilities

• Enter and update risk-related data with accuracy and completeness.
• Perform BSA/AML alert reviews and SAR/CTR filings.
• Monitor accounts/transactions using AML/Fraud software.
• Investigate high-risk transactions to detect potential fraud or money laundering.
• Ensure regulatory report deadlines are met.
• Escalate significant findings to management.
• Collaborate with business units to ensure compliance.
• Uphold confidentiality per policy and ethical standards.
• Support the Bank's Corporate BSA/AML program.
• Perform additional duties as needed.

Skills

BSA/AML knowledge

Communication skills

Excel/Word/Outlook

AML monitoring software

Education

Bachelor's degree in criminal justice or forensic accounting

Tools

AML monitoring software

Microsoft Office Suite

Job description

Job Summary: This role is responsible for BSA risk identification/prevention functions, and other functions as needed and assigned by management. The position is responsible for supporting the Bank's Bank Secrecy Act, Anti-Money Laundering, Countering the Financing of Terrorism and Office of Foreign Assets Control compliance programs.

ESSENTIAL DUTIES & RESPONSIBILITIES

• Accurately enter and update risk-related data into internal systems, databases, and spreadsheets while maintaining organized and up-to-date records and appropriate documentation, ensuring data integrity and completeness.
• Responsible for BSA/AML alert reviews, suspicious activity investigations, CTR/SAR filing and Enhanced Due Diligence reviews as needed.
• Responsible for account/transaction monitoring through the use of various reports and the Bank's AML/Fraud monitoring software.
• Analyze and research additional high-risk transactions and ad-hoc reports to identify/investigate possible cases of fraud and/or Money Laundering.
• Ensure that deadlines for regulatory related report submissions are met and that customer monitoring functions are completed timely.
• Escalate significant findings to management as appropriate.
• Work closely with business units to ensure compliance with applicable laws and mitigate risk to the Bank.
• Uphold the strict BSA related standards set forth by the Bank, as described in the Corporate BSA/AML Program.
• Adhere to the Bank's and BSA confidentiality policy, code of ethics and follow all policies and procedures relative to Consumer Compliance laws and regulations and best practice recommendations and to Needham Bank's Core Values (Focus on Customer Relationship, Embrace Change, Work as a Team, Be an Asset to Your Community, Always Learn, Do the Right Thing).
• Fosters a culture of teamwork, transparency and accountability within the Bank.
• Perform additional duties as requested, needed or assigned.

JOB REQUIREMENTS

• Highly-motivated professional who can handle multiple, cross-functional tasks, adapt to change, and work well in a dynamic, fast-paced environment - independently and in a team.
• Knowledge of Bank Secrecy Act, Anti-Money Laundering, Office of Foreign Assets Control regulations and Bank Policies.
• Strong and effective written and oral communication skills and an ability to write reports and business correspondence.
• Able to recognize operational and system control gaps and recommend solutions to management.
• Have a strong working knowledge of Excel, Word, and Outlook, and be comfortable learning and using new software.
• Must be self-motivated, professional, detail oriented organized and able to effectively handle multiple assignments and changing priorities.

EDUCATION & EXPERIENCE

• 1-3 years of similar or related experience and/or training; or equivalent combination of education and experience preferred.
• Bachelor's degree in criminal justice, Forensic Accounting, or another related field. A combination of education and experience will be considered.
• Minimum education requirement: Bachelor's degree
• Experience in banking, risk, or audit considered a plus.

WORKING CONDITIONS/PHYSICAL DEMANDS

• The position includes a combination of normal business office (3 days) and remote working environments (2 days).

The pay range provided is based on what we believe is a reasonable estimate for the pay range for this job at the time of posting. Actual pay may vary based on experience, skills, and market factors; additional compensation may apply.

Needham Bank offers a competitive salary and an amazing benefit package for a full-time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short- and long-term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part-time employees as well.

At NB, we are dedicated to building a diverse, inclusive and authentic workplace - if you are excited about this role, but your past experience doesn't align perfectly with every qualification in the job description, we still encourage you to apply. You may be just the right candidate for this or other roles.

Needham Bank is an Equal Opportunity/Affirmative Action Employer. Needham Bank will provide all applicants for employment and all employees with equal opportunity for employment and promotion regardless of race, color, religion, gender, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, or gender identity.