FIU Analyst

BASIC FUNCTION:

The incumbent is responsible for analyzing and reviewing BSA/AML and related compliance/control requirements via testing, data analysis, data manipulation, research, policy and procedure development, and related activities to support the management of the Corporate BSA Program and/or assigned line of business compliance/control plans under the direction of the Corporate BSA Officer.



RESPONSIBILITIES:

Research BSA/AML regulatory requirements to support mitigation of compliance risks for Webster Bank, N.A. and its affiliates.

Manage data collection and quality control of BSA/AML for exposure analysis.

Review daily cash transactions and analyze to properly file Currency Transaction Reports (CTR).

Communicate with Webster Banks branch personnel and provide guidance with completion of governmental filings.

Investigate suspicious cash transactions, utilizing previous experience, exhibit independent judgment to determine the appropriate course of action for suspicious activity. Upon completion of comprehensive investigative research, determine and document the decision to file or not file a Suspicious Activity Report with the Financial Crimes Enforcement Network.

Utilize advance Anti-Money Laundering and Terrorist Financing Software for suspicious activity detection.

Assist in the CTR exemptions application and renewal process.

Communicate the results of BSA/AML analysis and/or research to appropriate Corporate Compliance/Enterprise Risk Management including conclusions and recommendations for next steps.

Assist in the development of a more complex set of policies and procedures to support corporate LOB BSA/AML initiatives, risks, products, processes, and controls.

Work with IT to support software and data needs.

As applicable, perform detailed testing or monitoring to identify BSA/AML control issues or deficiencies which require corrective action and resolution; include root cause analysis.

Assist in the preparation of the appropriate management reports summarizing findings and recommendations.

Assist in tracking BSA/AML testing and training results.

Monitor and track corrective action on BSA regulatory issues to final resolution.

Interpret and maintains a strong knowledge of all current and proposed BSA/AML laws and regulations.

May act as an advisor to the BSA ER Compliance Analysts for the purpose of expediting a satisfactory resolution.