Senior BSAAML Specialist

Salem Five is a growing regional financial services organization with a rich history of over 160 an independent bank we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

This Position requires the ability to work in the Salem MA offices.

Salem Five has more than 30 retail banking branches throughout Essex Middlesex Norfolk and Suffolk counties strong business banking capabilities an Insurance division a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what were all about.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

The primary duties require the comparison and the evaluation of possible courses of action without immediate direction or supervision concerning monitoring alerts and SARs and in conducting due diligence reviews and investigations. The position exercises discretion about the nature and scope of the investigation to identify risks and uses independent judgment in making recommendations about outcomes or resolutions to report suspicious activity related to money laundering underlying criminal activity or structuring. The position also serves in a backup capacity for the BSA Officer and CTR Administrator.

• Using the Banks AML/Fraud Monitoring system investigate and assess alerts relating to potential money laundering and fraud risks in the organization; make use of transactional and customer records reports and publicly available information to identify and research patterns and anomalies in customer data to detect suspicious activity related to money laundering underlying criminal activity or structuring; document investigations of unusual banking activity to support decision-making for federal Suspicious Activity Reports; provide investigative results to the Banks AML Committee for review.
• Using the AML/Fraud Monitoring software and system reports identify high risk customers for enhanced due diligence (EDD). Maintain accurate and complete records on the Banks high-risk customers including documentation of enhanced monitoring.
• Using the AML/Fraud Monitoring software and system reports perform annual extended due diligence on High-Risk Customer types that include but are not limited to MSBs and Private ATM customers.
• Using the AML/Fraud Monitoring Software and system reports perform quarterly extended due diligence on High-Risk customer types that include MSBs and Private ATM customers.
• Actively participate on the Banks AML Committee. Prepare and present detailed written and verbal case analyses for Committee decision-making.
• Investigate unusual activity reported by the various divisions and advise the BSA Officer and AML Committee accordingly.
• Prepare clear and accurate Suspicious Activity Reports for review by BSA Management and timely filing.
• Review all BSA and Fraud SAR for accuracy and report any discrepancies to the BSA Officer.
• Export SAR files from the Banks AML/Fraud Monitoring system and import these files into the BSA E-fling website in a timely and accurate manner to ensure compliance.
• Export BSA E-filing SAR acknowledgements and import the acknowledgement files into the Banks AML/Fraud Monitoring system in a timely manner to ensure compliance.
• Act as an escalation point for lower-level Analysts to resolve issues. Work on complex issues where analysis of situations or data requires an in-depth evaluation of variables.
• Assist in the development and administration of BSA/anti-money laundering training and awareness programs for staff.
• Provide backup for the screening of the Banks customer base in timely response to FinCENs bi-weekly 314(a) requests.
• Provide back-up for the CTR Administrator ensuring that CTR processing is completed on a timely and accurate basis when needed.
• Participate in the performance of periodic quality assurance testing of the Banks AML software to ensure accurate and effective monitoring.
• Be knowledgeable on all aspects of the Banks BSA/AML Program and be prepared to answer questions from Bank staff regarding these requirements.
• Provide general support to the BSA Officer acting as backup as needed.
• Provide assistance to the BSA Officer in gathering documents for external audits and Regulatory exams.
• Help in identifying potential weaknesses in processes and make recommendations for improvement.
• Compliance with banking laws and regulations as defined in bank policies and procedures pertinent to position.

EDUCATION and EXPERIENCE:

At least five years of related banking experience. Must have knowledge of Bank Secrecy Act regulations and requirements. Bachelors degree or equivalent experience preferred. Prior experience working with transaction investigative tools and excel spreadsheets. 3 to 5 years previous experience conducting case investigations and other monitoring for suspicious activity including determination of SAR or no SAR decision. Excellent written and verbal communication skills and must be able to effectively converse with all levels of management. High level of ethics and confidentiality.

PHYSICALDEMANDS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job the employee is regularly required to sit; use hands to finger handle or feel; reach with hands and arms; and talk or hear. The employee is occasionally required to stand; walk; climb or balance; and stoop kneel crouch or crawl. Specific vision abilities required by this job include close vision.

Benefits/Incentives:Health Insurance Dental Vision Flexible Spending Account Health Savings Account 401k Matching Tuition Reimbursement Employee Referral Program Summer Family Outing Annual Holiday Reception and more

Salary Range:$60000 - $80000

The pay range is the lowest to highest compensation we reasonably in good faith believe we would pay at posting for this role. We may ultimately pay more or less than this range. Employee pay is based on factors like relevant education qualifications certifications experience skills seniority location and performance. This range may be modified in the future.

Ready to applyIf this job sounds like a fit for you then click onApply/Apply Nowin this posting. We look forward to talking withyou.

Qualifiedcandidates may also submit a resume and application online at or mail your resume to Human Resources 210 Essex Street Salem MA01970.

No unsolicited resumes accepted from agencies.

Required Experience:

Senior IC