Enhanced Due Diligence (EDD) Analyst

BNB Bank; Town of Islip (NY); On-site; USD 60,000 - 75,000; Full time

Job summary

An established industry player is seeking an Enhanced Due Diligence (EDD) Analyst to join their dynamic team. This exciting role involves assisting in the administration of a high-risk customer EDD program, performing detailed due diligence, and ensuring compliance with BSA/AML/OFAC regulations. The ideal candidate will have a strong background in financial services, analytical skills, and the ability to communicate effectively. This position offers a unique opportunity to contribute to the safety and integrity of financial operations while working in a collaborative environment. If you are passionate about compliance and eager to make an impact, this role is perfect for you.

Qualifications

• 5+ years in financial services with 2+ years in BSA/AML compliance.
• Strong understanding of BSA/AML and OFAC regulations.

Responsibilities

• Review alerts for Low, Medium, and High-Risk accounts.
• Conduct Enhanced Due Diligence reviews for high-risk customers.
• Prepare SARs and assist in BSA/AML Compliance training.

Skills

BSA/AML Compliance Analysis

Analytical Skills

Problem-Solving Skills

Communication Skills

Multitasking

Education

Bachelor’s Degree

Tools

Microsoft Office

Job description

Description

Summary: Dime Community Bank is seeking an Enhanced Due Diligence (EDD) Analyst based at its Headquarters in Hauppauge, Long Island. The EDD Analyst will assist the KYC-EDD Program Manager in the administration of the high-risk customer Enhanced Due Diligence (EDD) program, a part of Dime’s BSA/AML/OFAC program. The EDD Analyst will also perform additional due diligence and analysis as required for high-risk customers, and as otherwise directed by the KYC-EDD Program Manager.

Salary commensurate with experience, ranging from $60,000 to $75,000 annually. The exact compensation may vary based on relevant experience, skills, education, training, licensure and certifications, and location.

All applicants must attach a recent resume. This is not a remote role.

Responsibilities:

1. Review and evaluate the Transaction Monitoring system’s alerts (including related modules) for Low, Medium, and High-Risk accounts as assigned and directed.
2. Perform timely Enhanced Due Diligence (EDD) reviews for higher risk customers in accordance with established procedures.
3. Conduct negative news searches on entities and beneficial owners.
4. Contact branches for additional information needed to explain activity that has been identified as potentially unusual or suspicious.
5. Identify and refer potentially suspicious activity for further investigation by grouping the suspect transactions and gathering supporting documentation.
6. Complete investigations of potentially unusual or suspicious transactions by preparing and/or finalizing an investigation narrative and gathering supporting documentation in accordance with departmental guidelines.
7. Prepare SARs in accordance with departmental procedures and templates.
8. Perform Annual CTR Exemption reviews as directed and in accordance with department procedures.
9. Assist in maintaining departmental policies and procedures.
10. Assist with BSA/AML Compliance training development and updates for new employees and other Bank departments.
11. Handle other duties or special projects as assigned by BSA Management.

Qualifications:

1. Bachelor’s degree or equivalent job experience required.
2. Minimum five years’ experience in the financial services industry, of which at least two years must be BSA/AML/OFAC compliance analysis and investigation experience.
3. General understanding of BSA/AML and OFAC laws, regulations, and guidance.
4. The ability to understand, interpret, convey, and implement the requirements of pertinent laws and regulations is essential.
5. Must exhibit the ability to work both independently and in a team environment.
6. Ability to work with other departments and business lines in a professional manner.
7. Strong transactional research, analytical, multitasking, and problem-solving skills required.
8. Excellent communication (verbal and written), organizational, and follow-up skills are necessary.
9. Strong knowledge of Microsoft Office (Outlook, Word, Excel, PowerPoint).

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities