Intern – Bank Secrecy Act

JOB FUNCTION / SUMMARY:

The Bank Secrecy Act Analyst Intern is responsible for assisting in the monitoring and reporting of customer and transaction information in accordance with the requirements of the Bank Secrecy Act and related laws and regulations. Specific duties may include the preparation and review of Currency Transaction Reports and monetary instrument recordkeeping requirements, monitoring of Customer Identification Program (CIP) compliance through validation and exception reporting, and/or support of day-to-day BSA operations related to Office of Foreign Assets Control and Sanctions screening. The Intern is responsible for participating in and contributing to a variety of initiatives and projects as well while gaining a working hands-on knowledge of the subject matter(s) covered. Responsibilities may include, but are not limited to, developing expertise in the assigned areas, analyzing and reporting on various subjects, coordinating efforts across and within business lines, assisting with various client activities and communicating with various levels of internal staff and external clients.

ESSENTIAL DUTIES & RESPONSIBILITIES:

• Examines system generated reports to determine if situations meet the established criteria for filing of CTR’s or recordkeeping requirements.
• Conducts analysis on transactional data to make determinations of irregular activity through understanding of industry norms, historical customer activity and regulatory definitions of suspicious activity.
• Conducts investigations of suspect account activity using the Bank’s resources (i.e., system software, reports, databases, and system applications).
• Reviews Customer Identification Program (CIP) exception reports and automated verification alerts to determine if exceptions to regulatory requirements and/or Bank policy have occurred, distributes notification of exceptions to responsible bank associates, and monitors responses to insure timely and effective resolution of exceptions.
• Reviews system generated alerts and referrals from Operating Units of the bank involving customers and transactions that may represent violations of OFAC sanctions and other watch lists utilized by the bank, and refers potential risk issues to management for further action.
• Participates in meetings with management to learn about the company's objectives and processes.
• Proactively seeks knowledge and mentorship from team members and leaders to develop a thorough understanding of banking products, services, programs and systems.
• Responsible for participating in the development, planning, or execution of assigned projects or programs.
• Supports team members with scheduled daily tasks, reporting and ad hoc requests.
• Provides administrative support by preparing executive summary reports, proposals, presentations, or related tasks.
• Participates in special projects or other assignments, as needed, to support the department.
• Participates in the department's various continuous improvement initiatives.

SUPERVISORY RESPONSIBILITIES:

None