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BSA AML Analyst

Chevy Chase, MD
COMPANY DESCRIPTION:  Forbright Bank is a full-service bank, commercial lender, and asset manager headquartered in Chevy Chase, Maryland. Forbright is a banking and financing visionary leader in clean energy, healthcare, technology, financial services, real estate, and other industries with extraordinary service.

COMPANY CULTURE:  We are a dynamic, high energy, fun, and fast-paced organization that has an exciting growth trajectory, meaningful mission, and embedded responsible environmental, social, and governance (ESG) practices into our daily interactions. We offer our team members a culture of collaboration, inclusion, flexibility, recognition, and giving back.  We look to hire individuals that are passionate about our mission, and who are motivated, customer and results-oriented, innovative, adaptable, and thoughtful.

COMPANY MISSION:  We are a values-driven institution with an uncommon commitment to decarbonization and sustainability. As the need to build a more sustainable, low-carbon economic system grows increasingly urgent, we are dedicating half of our assets to financing the companies, investors, and innovators driving that change. We are reimagining how a bank should operate in a changing world.

JOB SUMMARY:  The BSA Analyst has day to day BSA/AML operation responsibilities within the Financial Intelligence Unit of Forbright Bank. Responsibilities include but are not limited to reviewing and investigating alerts coming from SAM and Sanctions screening systems; reviewing high risk accounts; identifying suspicious activity, performing Due Diligence (CDD and EDD) on customers and bank accounts (Consumer Deposits; Business Deposits; Specialty Loans, Mortgages) with particular emphasis on the high risk customers, interpreting Corporate policies and procedures pertaining AML and Sanctions Compliance topics, keeping up to date on regulations, and ensuring timely reporting of all activity to the BSA Officer.

  • Supports the Financial Intelligence Unit activities and the BSA Officer in ensuring the proper execution of the BSA/AML and OFAC Program.  This includes the regular exercise of discretion and independent judgment with respect to matters of significance.
  • Regularly compares and evaluates possible courses of conduct with respect to transactions, sanctions, customers and accounts, and acts or makes decisions or effective recommendations for actions or decisions after the various possibilities have been considered.
  • Responsible for executing and reporting on transaction monitoring, transaction screening and Sanctions screening.
  • Conduct Enhanced Due Diligence (EDD) for deposit customers, legal entities, and lending relationships.
  • Engage in transaction testing, data validation, and ongoing customization of the Corporate automated Screening and Monitoring systems.
  • Analyze internal/external resources to investigate and analyze potential fraud and money laundering.
  • Conduct timely and thorough reviews of potentially suspicious activity through case management. Monitor and review accounts deemed to be of higher risk.
  • Escalate suspicious activity cases to the attention of the internal SAR Committee. Participate in and make recommendations with respect to the decision process for reporting suspicious activity to FinCEN.
  • Ensure compliance with OFAC, 314a, 314b, and other AML Compliance regulatory requirements.
  • Act as a BSA, AML and OFAC subject matter expert to identify process improvements, respond to inquiries from internal business lines and provide content for various training initiatives.
  • Identify and review high risk and moderate risk customers. Conduct regular reviews of transaction activity for high, moderate, and low AML risk customers. Detailed documentation of reviews is required.
  • Engage in CTR quality control monitoring. Address shortfalls in documentation provided by Front lines and Operations staff.
  • Participate in all periodic BSA/AML compliance reviews. Enhance and develop reports to display trends, patterns and areas of risk to the bank. Assist in preparative activities for Audits and Examinations.
  • Participate in the development, maintenance and updating of the team policies and procedures. Ensure policy communication and exceptions are properly reported and managed.
  • Bachelor’s Degree in Business, Finance, Management or related field.
  • 5+ years of overall of work experience, preferably in a financial institution or in Compliance.
  • 2+ years of experience in banking operations with working knowledge of BSA/AML and SAR reporting requirements.
  • Knowledge of branch products and services (consumer, business, and lending)
  • Strong understanding of banking regulations, including BSA Act, PATRIOT Act, OFAC, Reg CC, Reg G, Reg O and other relevant federal regulations.
  • Strong attention to details.
  • Experience in analyzing customers and transactions activity, reviewing associated system hits and working AML and Sanctions alerts.
  • Excellent communication and writing skills.
  • Ability to work independently and with others.
  • Proficiency with Verafin software is a plus.
  • High Proficiency in Microsoft Office Excel, Word, PowerPoint.
  • CAMS or relative Certification preferable.
  • Ability to analyze potential courses of action on significant matters and make an informed decision on how to act and/or make and defend effective recommendations
  • Interpersonal Skills:  A significant level of trust and diplomacy is required to be an effective subject matter expert in the position. In-depth dialogues, conversations and explanations with customers, direct and indirect reports and outside vendors of a sensitive and/or highly confidential nature is a normal part of the day-to-day experience. Communications can involve motivating, influencing, educating and/or advising others on matters of significance.
ADDITIONAL DUTIES:  For Forbright Bank to remain efficient and nimble as a growing organization, team members are expected to exhibit a high level of flexibility regarding any duties that may be situationally assigned outside of this job description.

💼 Comprehensive health, dental, and vision plans
🌴 4 weeks PTO
💰 401k + company match
🚉 Metro SmartTrip benefits ($50/mo)
💻 WFH flexibility
🚴 Bonuses for purchasing solar panels, electric vehicles, biking to work, etc.
🍎 Paid subscriptions to Veterans Compost, Imperfect Foods and more!

Forbright Bank is committed to cultivating an environment that promotes diversity as a fundamental value. We welcome employees with a range of experiences, backgrounds, and perspectives. Forbright Bank is an Equal Opportunity Employer.
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