BSA/AML Specialist I - KYC
TowneBank · Suffolk, Virginia, US
Primary Purpose: 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 terr...
Job description
Primary Purpose: 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. Essential Responsibilities: - Verify all n...