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Banking Compliance Analyst

Company: First Business Financial Services, Inc.
Location: Madison
Posted on: May 16, 2022

Job Description:

Join us today as a Banking Compliance Analyst First Business Bank is a Top Workplaces USA company, learn more here. At the heart of First Business Bank, we believe success comes down to putting people first. Our people are our priority - they embody ambition, experience, and client focus. The result is extremely engaged employees who provide unmatched client satisfaction. With comprehensive total rewards to support our team members, a commitment to valuing each other's differences, and a focus on improving our communities, we are confident you'll find the experience is your advantage. We're delighted you're considering joining us OVERVIEW As a member of the compliance team at First Business Bank, the Banking Compliance Analyst performs analysis of client transactions and activity, various quality controls reviews and monitoring pertaining to the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Customer Identification Program. The Analyst performs detailed examination of client data using industry standard and regulatory guidance to ensure the Bank's compliance efforts are maintained. This position is a hybrid role with remote work availability 2-3 days per week; therefore, a local Madison candidate is required. Specifically, as a Banking Compliance Analyst you will: Reviews all new client accounts to ensure all customer identification program, due diligence, and beneficial ownership information and documentation has been obtained; communicate with client-facing teams to assure missing items are received. Perform root cause analysis on defects relating to client account data. Analyze medium- and high-risk client transactions and relationships, including monitoring, documentation, and enhanced due diligence. Research and investigate transactions that are anomalous and recommend suspicious activity reporting as necessary. This includes reporting throughout the Bank's functional areas and across product and service offerings. Create and compile required documentation and ensure proper retention. Stay current with regulatory changes regarding BSA/AML, OFAC, USA PATRIOT Act (including Section 314(a) and (b) requests), and Currency Transaction Reporting. The successful candidate should have: Associate's degree or continuing education credits required 2 years banking experience required Knowledge of bank operations and/or new account processes required Strong technology aptitude and ability to pick up on new technologies quickly Possess strong research and analytical skills Advanced verbal and written communication skills

Keywords: First Business Financial Services, Inc., Madison , Banking Compliance Analyst, Accounting, Auditing , Madison, Wisconsin

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