Purpose: The CDD/EDD Analyst is primarily responsible for thoroughly investigating the Bank’s high-risk and potentially high-risk customer populations by utilizing various software systems and recommending the customer’s risk rating and periodic monitoring schedule as applicable.
Essential Functions:
Reviews Customer Due Diligence records of new and existing customers to determine the risk level of said customers to the Bank.
Conducts initial and periodic Enhanced Due Diligence investigations on high-risk customers (e.g., Money Service Businesses, Cannabis Related Businesses, Private ATM owners, Non-resident Aliens, Professional Service Providers, etc.) identified through the Customer Due Diligence process, monthly data mining efforts, and listed on the Bank’s High-Risk Customer List.
Works with Retail Branches, other front-line Bank employees and Banking-as-a-Service Partners to ensure the collection of appropriate due diligence, KYC, and CIP documentation for new and existing customers.
Acts as a subject matter expert on the Bank’s policies and procedures for customer due diligence.
Assists in the performance of testing regarding various BSA/AML functions such as the collection, certification and verification of Beneficial Ownership and Customer Identification Program information, to ensure that processes adhere to established guidelines.
Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.
Job Related Qualifications:
Required:
Education: Bachelor’s Degree
Prior Experience: 1+ years BSA/AML or OFAC experience
-OR-
Required:
Education: Associate Degree
Prior Experience: 2+ years BSA/AML or OFAC experience
-OR-
Required:
Education: High School Diploma or equivalent
Prior Experience: 4+ years BSA/AML or OFAC experience
Competencies:
Knowledge of and ability to learn BSA/AML & OFAC regulations and requirements, to include those specific to Cannabis Banking.
Excellent verbal and written communication skills and ability to interact positively with a wide variety of individuals.
Excellent organizational skills with the ability to manage multiple priorities and meet established deadlines.
Ability to identify trends, interpret data and apply to workflows and compliance techniques and automation.
Possess a high level of attention to detail.
Ability to maintain a high degree of confidentiality.
Proficient with Microsoft applications with the ability to learn and utilize new and existing banking software applications; Ability to utilize the internet to conduct searches related to responsibilities.
Physical Requirements:
Able to regularly sit for prolonged periods of time.
Extensive computer usage is required.
Benefits:
Medical, Dental, and Vision Insurance
Health Savings Account
Flexible Spending Account(s)
Company Paid Life Insurance, Long Term Disability, and Short Term Disability
This job description is not exhaustive. The CDD/EDD Analyst may be required to perform other duties as assigned. The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.
