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BSA Model Analyst - Risk Assessment Specialist
Wintrust
Rosemont, IL, United States
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Description
The position is a specialist position within the BSA Model Development unit of the BSA Department.
Position Overview:
As a primary focus (~75-90%), this role is responsible for the development and ongoing support of all BSA/AML/OFAC Risk Assessments (Risk Assessments) which includes the enterprise-wide holding company level risk assessments and separate risk assessments for each bank and subsidiary. There are various phases of the project which include strategy, planning, scope, preparation, coordination, assist in the interview process with line of businesses, statistical / quantitative analysis, scoring, executive summaries, QC, etc. The position supports the overall BSA compliance efforts as required under the Bank Secrecy Act and the Bank’s BSA/AML/ USA Patriot Act and OFAC Compliance Program and Procedures.
As a secondary focus (~10-25%), this role will function as a non-specialized BSA Model Analyst. The BSA Model Analyst position is responsible for conducting AML/OFAC process analysis, needs assessments and cost/benefit analysis in an effort to align the AML/OFAC system technology solutions with the monitoring requirements of the BSA/AML/USA Patriot Act and OFAC laws; including model validation and conducting periodic system tuning to ensure optimization and effectiveness. This position will also assist in the enterprise-wide support of the administrative functions of the Bank’s BSA/AML/USA Patriot Act and OFAC Program and Procedures. Additionally, this position will review data that supports AML/OFAC monitoring systems and respond to exceptions through proper documentation and resolution.
Key Accountabilities:
Risk Assessment Focus (~75-90%) - Assists with all phases of the risk assessment process which include the following:
• Project strategy, planning & scoping process which guides the risk assessment process for all involved
• Preparation of work papers, reports and programs
• Coordination of risk assessment activities and interviews with line of business owners
• Assist BSA Officer with interviews of the line of business owners
• Research and analysis for gathering quantitative information to support
• Data query design, implementation, validation, execution, and extraction to collect supporting evidence from databases and business intelligence applications.
• Research of product, services, customer types, etc. for inclusion into the risk assessments
• Control detail and verification
• Trend analysis of key data for inclusion into the executive summaries
• Preparation of executive summaries
• Updates risk assessment procedures as needed
• Attends BSA training sessions as directed by management
• Provides other assistance as requested to the BSA/AML Officers in the daily responsibilities of managing the Bank’s BSA/AML and OFAC Compliance Program
• Other job related duties as assigned
BSA Model Analyst (~10-25%) – Acts as a general BSA Model Analyst in an individual and/or supporting role as needed. Key duties and responsibilities are:
• Conducts system analyses, which include testing, tuning, development and implementation of AML & OFAC supporting rules0241 and models
• Assists with the analysis of the day-to-day maintenance & processing of data for the automated transaction monitoring system. Reviews & finds solutions for data defects / implements enhancements to ensure data quality
• Provides analytics-based analyses for the BSA department in an as-needed basis.
• Using analytics, defines & recommends best practices and/or solutions for BSA department business problems
• Assist in evaluation of new products, services and business lines to ensure monitoring coverage
• Develops and analyzes risk scoring models for monitoring of high risk customers, products and services and geographies
• Assist in performing annual risk assessments by extracting and combining data from various systems, charting trends and identifying deviations in peer groups
• Provides prompt escalation of BSA findings to appropriate management
• Attends BSA training sessions as directed by management
• Responsible for complete and clear documentation of analyses
• Other job related duties as assigned
Qualifications
• · Minimum of 2-3 years of banking experience required
• · Minimum of 2-3 years of BSA/AML experience required
• · Proficient in Microsoft Excel (graphs, charts, pivot tables and macros); as well as Word, Outlook, etc
• · Experience with building data queries in business intelligence application (FIS “BIC” is desirable) and SQL databases.
• · Familiarity with FIS systems is desirable
• · Familiarity with NICE Actimize is desirable
• · ACAMS Certification is desirable
• · Overall knowledge of BSA/AML/USAPA/OFAC banking laws and regulations
• · Overall knowledge of banking products and services
• · Strong critical/analytical thinking, prioritization, and problem-solving skills
• · Strong verbal and written communication and teamwork skills that support a collaborative and continuous improvement environment; ability to communicate with all levels of personnel
• · Results oriented and strong organizational skills with the ability to manage multiple priorities
• · Self-reliant and willingness to “own” problems and creatively find solutions
• · Great attention to detail and highly accurate
• · Ability and desire to learn new systems/applications/software
• · Data Query Aptitude and Experience – Must have experience and ability to query data in a business intelligence application and from SQL database
Wintrust Financial Corporation (Wintrust) is a financial services company based in Rosemont, Illinois, with approximately $27 billion in assets. We engage in the business of providing traditional community banking services, commercial banking, wealth management services, commercial insurance premium financing, life insurance premium financing, mortgage origination, short-term accounts receivable financing, and certain administrative services, such as data processing of payrolls, billing and treasury management services. We provide community-oriented, personal and commercial banking services to customers located in the greater Chicago, Illinois and southern Wisconsin areas through our 15 wholly-owned banking subsidiaries.
We provide an engaging, dynamic work environment, an excellent compensation package including 401k, employee stock purchase plan, medical/dental, life insurance and more!
Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, ethnicity, gender, sexual orientation, gender identity, national origin, veteran status, or disability.