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Retail Admin Business Analyst
Investors Bancorp
Iselin, NJ, United States
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Job Description
The KYC CDD Analyst will work as the CIP CDD subject matter expert, responsible for various CIP CDD operations, ensuring the first line BSA functions are compliant with the Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) regulations.
The KYC CDD Analyst will research and make determination about disposition and further necessary action, through detailed investigation around the on-boarding review, risk analysis, and periodic review of low and medium risk business and special account banking relationships (government, trusts, and estates). They will support all the business lines within the Retail network with their customer onboarding process, focusing on ensuring the proper execution of Know Your Customer (KYC) activities as required by the BSA and as defined by the Bank's Risk /BSA Department and ensuring supporting documentation is complete. The KYC CDD Analyst is responsible for the execution of the Bank's Customer Identification Program (CIP), Customer Risk Rating (CRR), and conducting Customer Due Diligence (CDD) for all low and medium risk non-consumer customer relationships and accounts being onboarded.
RESPONSIBILITIES
• Perform BSA defined KYC CIP CRR CDD onboarding screening and review of new and existing low and medium risk business clients. Ensure all requests are supported with relevant documentation as prescribed by policy and procedure, evaluating business and signor documentation for completeness, correctness, and compliance with BSA. Communicate with and advise the Retail network on appropriate account opening process and documentation.; Interface with different teams including business unit leaders, compliance, and technology to continue to enhance process and procedure.
• Perform analysis of new business customers, related signors and beneficial owners to determine and disposition the risk rating of low or medium. Identify and process high risk customers through to the CDD Senior Analyst team for high risk review. Guide the Retail network in preparing the CDD/KYC package and new onboarding requests; Communicate with and advise the Retail network on appropriate account opening process and documentation.
• Review and process watch list filtering and negative alerts that are generated as part of customer onboarding. Communicate with and advise Retail network on identified account opening issues and provide viable solutions to move along the account opening process. Perform periodic reviews for KYC CIP CRR CDD of existing low and medium risk customer relationships according to review schedule to determine if any additional information or documentation is required to update customer profile; Initiate a request for information (RFI) to the appropriate customer relationship manager in a timely manner to ensure compliance with the stated service level agreement (SLA); Conduct risk analysis using updated information and transactional review, determine if CRR requires revision, and if applicable escalate CRR recommendation to BSA for approval; Ensure all new accounts are opened and established following current procedures.
• Identify and determine any suspicious activity and/or red flags during the risk analysis that may be potential indicators of a financial crime, fraud, terrorist financing or other illegal activity and escalate to the Suspicious Activity Reports (SAR) team.
• Work with KYC management team on various process improvements, system enhancements, and new product/service projects; Interject subject matter expertise in the development of new products and services.
Requirements
• Bachelor's degree or 1-2 years of BSA experience
• Must have a strong background in compliance and risk management specifically in KYC CIP CDD regulations
• Working knowledge of key banking laws and regulations
• Must handle all company information with highest degree of confidentiality and integrity
• Ability to research, interpret, and apply regulatory requirements and operating procedures to retail business line functions
• Ability to coordinate the gathering of information from various sources such as branch personnel, various business lines, externally available information, verification tools and other applicable sources
• Personable team player
• Strong organizational skills
• Excellent verbal and written communication skills
• Strong attention to detail and ability to work in a challenging, fast paced environment
DESIRED
• CAMS Certification