BSA/AML Specialist I - KYC
TowneBank, Suffolk, VA, United States
This position is a part of BSA/AML Department, a team that is integral to TowneBank’s efforts in the fight against money laundering and terrorist financing. The BSA/AML Department assists the Bank’s businesses to design effective processes through the development of consistent and cohesive policies and programs to ensure compliance with all applicable anti‑money laundering and Office of Foreign Asset Control (OFAC) regulations. The BSA/AML Know Your Customer (KYC) team works within the BSA/AML Department to ensure that required customer onboarding requirements are met as knowing your customer provides the foundation of the Bank’s BSA/AML Program.
The BSA/AML Specialist I – KYC’s primary objectives are to confirm that required customer identifying information is collected and verified at onboarding, and to ensure that Customer Due Diligence (CDD) information, including beneficial ownership for non‑exempt legal entities, is collected and updated as needed throughout the customer relationship. KYC Specialists act as subject matter experts on the Bank’s Customer Identification Program and provide support to the branch network.
Verify all new customer profiles for deposits, loans, indirect lending, and safe deposit box relationships added to the banking core system for complete identification and verification documentation
Review input CDD information at onboarding for missing/incomplete information and out‑of‑footprint relationships
Review beneficial ownership on new/trigger events per Beneficial Ownership Final Rule and Corporate Transparency AML Act 2020, deposit and loan business accounts, including company documentation with certification of owners and controlling person
Communicate KYC exceptions to Account Officers when new accounts are opened for new and existing members with missing or incomplete CIP, CDD information, and Beneficial Ownership
Conduct due diligence using Lexis Nexis or other internet resources on new and existing customers as needed
Review unidentified non‑US persons and identify past‑due/missing W8‑BENs on non‑US persons
Identify missing and incomplete customer information on the Transaction Monitoring System
Act as liaison between Investigations/Alerts team to collect additional documentation as part of our ongoing due diligence requirements
Maintain KYC exception workbooks and document follow‑up efforts to clear exceptions
Complete Annual Bank and AML Training as needed
Assist BSA Management with other projects as needed
Adheres to applicable federal laws, rules, and regulations, including Anti‑Money Laundering (AML) and the Bank Secrecy Act (BSA).
Minimum Required Skills & Competencies:
2–3 years of banking or similar experience with knowledge of branch and loan operations
Working knowledge of federal requirements under the Bank Secrecy Act requirements, including the Customer Identification Program, USA PATRIOT Act, and Office of Foreign Assets Control (OFAC) regulations, and be familiar with FFIEC BSA/AML Manual guidelines
Ability to handle confidential customer information
Knowledge of bank products and services
Ability to develop strong relationships with peers and interact with multiple levels of management, internal and external auditors/examiners
Ability to multi‑task and learn new processes effectively
Ability to work independently and within a team setting
Ability to work with retail personnel in a support role
Strong written and verbal communication skills
Detail‑oriented with good organizational skills
Working knowledge of Microsoft Office Suite
Desired Skills & Competencies:
3–5 years of banking experience and knowledge of branch and/or loan operations
Bachelor’s degree in a related field, such as business management, criminal justice, accounting, or economics
Experience in a financial institution with an asset size of $10 B and over
Physical Requirements:
Express or exchange ideas verbally and using the spoken word via email.
Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.
Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.
Not substantially exposed to adverse environmental conditions.
The physical demands described here represent those that must be met by an employee to perform the essential responsibilities of this job successfully. Reasonable accommodations may enable individuals with disabilities to perform necessary duties.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
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The BSA/AML Specialist I – KYC’s primary objectives are to confirm that required customer identifying information is collected and verified at onboarding, and to ensure that Customer Due Diligence (CDD) information, including beneficial ownership for non‑exempt legal entities, is collected and updated as needed throughout the customer relationship. KYC Specialists act as subject matter experts on the Bank’s Customer Identification Program and provide support to the branch network.
Verify all new customer profiles for deposits, loans, indirect lending, and safe deposit box relationships added to the banking core system for complete identification and verification documentation
Review input CDD information at onboarding for missing/incomplete information and out‑of‑footprint relationships
Review beneficial ownership on new/trigger events per Beneficial Ownership Final Rule and Corporate Transparency AML Act 2020, deposit and loan business accounts, including company documentation with certification of owners and controlling person
Communicate KYC exceptions to Account Officers when new accounts are opened for new and existing members with missing or incomplete CIP, CDD information, and Beneficial Ownership
Conduct due diligence using Lexis Nexis or other internet resources on new and existing customers as needed
Review unidentified non‑US persons and identify past‑due/missing W8‑BENs on non‑US persons
Identify missing and incomplete customer information on the Transaction Monitoring System
Act as liaison between Investigations/Alerts team to collect additional documentation as part of our ongoing due diligence requirements
Maintain KYC exception workbooks and document follow‑up efforts to clear exceptions
Complete Annual Bank and AML Training as needed
Assist BSA Management with other projects as needed
Adheres to applicable federal laws, rules, and regulations, including Anti‑Money Laundering (AML) and the Bank Secrecy Act (BSA).
Minimum Required Skills & Competencies:
2–3 years of banking or similar experience with knowledge of branch and loan operations
Working knowledge of federal requirements under the Bank Secrecy Act requirements, including the Customer Identification Program, USA PATRIOT Act, and Office of Foreign Assets Control (OFAC) regulations, and be familiar with FFIEC BSA/AML Manual guidelines
Ability to handle confidential customer information
Knowledge of bank products and services
Ability to develop strong relationships with peers and interact with multiple levels of management, internal and external auditors/examiners
Ability to multi‑task and learn new processes effectively
Ability to work independently and within a team setting
Ability to work with retail personnel in a support role
Strong written and verbal communication skills
Detail‑oriented with good organizational skills
Working knowledge of Microsoft Office Suite
Desired Skills & Competencies:
3–5 years of banking experience and knowledge of branch and/or loan operations
Bachelor’s degree in a related field, such as business management, criminal justice, accounting, or economics
Experience in a financial institution with an asset size of $10 B and over
Physical Requirements:
Express or exchange ideas verbally and using the spoken word via email.
Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.
Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.
Not substantially exposed to adverse environmental conditions.
The physical demands described here represent those that must be met by an employee to perform the essential responsibilities of this job successfully. Reasonable accommodations may enable individuals with disabilities to perform necessary duties.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
#J-18808-Ljbffr