Magnit Direct Sourcing on behalf of Toyota is currently hiring for a BSA/AML OFAC Senior Analyst role for a temporary, Hybrid assignment in Plano, TX.

This position is a 12-month assignment, with potential to extend. The pay range for this role is between $44.00 - $48.00/Hr. Benefits: Medical, Dental, Vision, 401K.

Title: BSA/AML OFAC Senior Analyst

Location: Plano, TX

Duration: 12 months

Description:

Who we are         

Collaborative. Respectful. A place to dream and do. These are just a few words that describe what life is like at Toyota. As one of the world’s most admired brands, Toyota is growing and leading the future of mobility through innovative, high-quality solutions designed to enhance lives and delight those we serve. We’re looking for diverse, talented team members who want to Dream. Do. Grow. with us.

What we’re looking for     

The BSA/AML & OFAC Senior Analyst assists in the implementation and administration of all aspects of the Bank Secrecy Act Compliance Program to ensure compliance with all applicable policies and procedures. The BSA/AML & OFAC analyst assists with various assignments supporting the Compliance Program of the bank, under the guidance of the BSA/AML and Regulatory Compliance managers as well as the Director of Anti-Financial Crimes Compliance. This position performs various quality control reviews and compliance testing/monitoring pertaining to the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Customer Identification Program compliance using industry standards and regulatory guidance to ensure the Bank’s compliance efforts are maintained on a daily basis. Participates in transaction monitoring and watchlist alerts and investigations. Performs enhanced due diligence and periodic reviews on high risk customers. Advises the BSA/AML and Regulatory Manager as well as the Director of Anti-Financial Crimes Compliance as well as the BSA staff of emerging compliance issues and assists the Bank in the establishment of controls to mitigate risks. Assists the senior leadership and BSA staff in ensuring department activities run smoothly and efficiently. The position of BSA Analyst is required to be fully knowledgeable and skilled in all areas of the BSA/AML & OFAC department.

The BSA/AML and OFAC Analyst must have subject matter expertise in BSA/AML and OFAC regulatory requirements and possess communication skills in order to examine and extract relevant information. The candidate must have strong interpersonal skills, as well as excellent oral and written communication skills. The BSA/AML & OFAC Analyst should have an understanding of the complex framework of rules, regulations, and laws that apply to TFSB’s products and services across all lines of defense. Candidate must be adaptable to changes in external and internal processes and requirements.

What you’ll be doing        

• Maintain current knowledge of all federal and state laws and regulations, along with the Bank’s policies and procedures.
• Performs daily review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large currency activity; determines if transactions are suspicious in nature, such as kiting, significant changes in balances, cash structuring in deposits, loans payments, and certificate of deposit purchases, wire or ACH transfers, monetary instrument sales, new account openings, etc.
• Maintains current knowledge of the Bank Secrecy Act and all related anti-money laundering and OFAC regulations.
• Assists in the development, coordination, and facilitation of training programs to educate bank personnel about BSA related compliance requirements and procedures.
• Assists in the development and implementation of bank forms, notices and procedures and monitoring processes for compliance with the Bank Secrecy Act, OFAC and relation regulations.
• Assists in the compliance with 314(a) and 314(b) (PATRIOT Act) responsibilities.
• Assists in the monitoring of account activity for suspicious patterns and activity, conducts suspicious activity report investigations, high risk customer/account reviews, and recommends when to file Suspicious Activity Reports (SARs). May assist in the filing of the SARs when necessary.
• Assists with New Account Business Risk Profiles.
• Performs customer and transaction analytics to identify trends and possible suspicious activity.
• Assists in the preparation of the BSA Risk Assessment and the updates on a periodic basis.
• Assists in the administration of the automated BSA/AML/OFAC and Fraud system to research and resolved alerts as well as conduct investigations within the system.
• Maintains a proficient knowledge of all applicable job-applicable rules and regulations.
• Assists in the research of regulatory issues to compliance questions from Bank personnel, using legal and regulatory reference materials, regulatory agencies, as appropriate.
• Assists in special projects and tasks for the department as directed.
• Assists in the development, revision or reviews of bank policies, procedures, disclosures, notices, and forms to comply with legislative and regulatory changes or new requirements
• Assists with self-assessments as needed. May assists in the preparation and coordination of independent audits and regulatory examinations.
• Strengthen and lead the development of BSA/AML program elements to support the growth of the bank. These program elements include but are not limited to enhancing client risk rating methodologies, 3rd party oversight and Know-Your-Customer/Customer Due Diligence/Enhanced Due Diligence (‘KYC/CDD/EDD’) programs
• Define, compile, and report key BSA/AML metrics to senior management and the board of directors.
• Assist in the development and delivery of training for the business lines related to new and ongoing fraud and AML suspicious activity typologies.
• Escalate identified risks to team leadership up to and including the Director of Anti-Financial Crimes Compliance, the Chief Compliance Officer and Board of Directors.
• Supports and partners with business units on projects, participates in project teams and collaborates with business units on the development of new products and services, including assessing compliance impacts and risks 
• Oversee the testing of various aspects of the compliance monitoring systems to ensure proper functioning.
• Manage process and procedures to ensure compliance with applicable regulations.
• Prepares written reports of compliance issues and recommendations for presentation to the Chief Compliance Officer, Senior Management, the Enterprise Risk Committee and Board of Directors.
• Perform other duties within the Compliance Team as assigned by the BSA/AML/OFAC Officer, the Fraud Manager, the Director of Anti-Financial Crimes Compliance and the Chief Compliance officer
• Provides assistance outside scope of daily duties to the Compliance Department when needed, especially during times of audit and regulatory exams.

Requirements:

Added bonus if you have (Preferred):

• Five plus years of experience with BSA/AML financial crimes investigations including money laundering, identify theft, terrorist financing, red flags for various transaction activities, fraud etc.;
• Five plus years of experience with regulatory compliance processes and procedures pertaining to the Bank Secrecy Act/USA Patriot Act and  the Office of Foreign Asset Control (OFAC) including program development and maintenance.
• CAMS

Qualifications/ What you bring (Must Haves) – Highlight Top 3-5 skills              

Qualifications:

• Bachelor's degree or equivalent experience of 4+ years
• 5+ (5-10 years of relevant work experience (in similar field and/or industry) years of experience with BSA/AML compliance processes, procedures and regulations or other directly related compliance experience in a bank or other financial institution
• Advanced knowledge of the following: AML/BSA Regulatory compliance processes and procedures pertaining to the Bank Secrecy Act and USA PATRIOT Act.
• Advanced knowledge of BSA/AML Compliance as it applies to suspicious activity for money laundering, terrorist financing and fraud, AML and terrorist financing Red Flags for various suspicious transaction activities, regulatory changes as they pertain to the BSA and USA PATRIOT Act, BSA/AML processes
• Knowledge of banking industry federal and state laws and regulations.
• Must be well-informed on BSA/AML/KYC and OFAC matters as well as financial products, services, and bank operations.  Direct knowledge commercial and consumer lending is required.
• Must have a high degree of analytical skills, customer service, communication skills, both verbal and written.
• Ability to proactively manage deadlines, be organized, detail-oriented and complete responsibilities with a high degree of accuracy.
• Ability to proactively identify, assess, and escalate potential concerns and risks.
• Ability to handle confidential, delicate and/or sensitive information or situations.
• Demonstrated Past experience organizing, prioritizing, and handling multiple tasks with a high level of efficiency.
• Demonstrated presentation skills both creating and delivery
• Direct knowledge of Auto Lending

Talented, dedicated people are an integral part of our mission to build the best workforce, working together to create the future of mobility and make the world a better place. We are always on the lookout for diverse, driven, and collaborative talent interested in performing contract work for Toyota.

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Magnit is an equal opportunity employer, and all applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability, or protected veteran status.