BSA Analyst

Description

POSITION: BSA Analyst

Position Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity. The BSA Analyst will be responsible for ensuring effective compliance with the Bank Secrecy Act, Anti-Money Laundering, Countering the Financing of Terrorism, Office of Foreign Asset Control monitoring, recordkeeping/reporting requirements, the ID Theft Program, and any similar risk-mitigating priorities in accordance with the Bank's established policies and procedures.

Key Result Areas :

• Monitor daily, weekly, and monthly cash transactions and reports, in compliance with the Bank Secrecy Act requirements. Conduct appropriate research and escalate potentially suspicious transactions or trends for further review and discussion.
• Responsible for ensuring that all Currency Transaction Reports are completed in accordance with regulatory guidelines, supporting documentation maintained, and the Monetary Instrument Log is managed as per CSB's established policies and procedures. Continually collaborate with Frontline staff, use sound judgement and effective communication skills to verify/obtain any missing information that may be required for accurately filing a report.
• Exhibit strong investigative, analytical, and writing skills, demonstrated by the ability to articulate the thought process, conduct independent research, and present findings upon transactional activity reviews and trends, during Department and Enhanced Due Diligence review meetings. Exercise judgment within defined procedures and practices to determine appropriate action for resolution of the above.
• As part of the regulatory requirement of Customer Due Diligence, review items flagged as potentially suspicious transactions within the automated transaction monitoring system. Perform sufficient due diligence to resolve or escalate AML alerts based on sound reasoning. Clearly document customer behavior analysis, independent research conducted and detailed conclusion within the transaction monitoring system.
• As part of the regulatory requirement of Enhanced Customer Due Diligence pertaining to potentially higher risk customers, review assigned cases/tasks including but not limited to identification of independent ATM Owners/Operators, MSB Agents, Virtual Currency Exchangers, Human Smuggling/Trafficking Indicators, etc. for anomalous behavior. Perform sufficient due diligence to recommend no change or recommend modifications to customer behavior and parameter settings, in accordance with customers' current risk and behavior while adhering to respective deadlines. Escalate Enhanced Due Diligence cases/transactional activity for additional investigation if the activity reviewed is potentially suspicious. Clearly document customer behavior analysis, independent research conducted and conclusion within the transaction monitoring system.
• Mitigate and manage risk to CSB arising from potential matches to entities on various US Government watchlists including but not limited to Office of Foreign Asset Control (OFAC), Non- SDN (Specially Designated Individuals), FinCEN's 314(a) List, Bureau of Industry & Compliance, Excluded Parties List System, HUD Limited Denial of Participation, etc. Conduct sufficient research, due diligence, make sound judgement calls, and if required, collaborate with other departments of the Bank to resolve potential matches. Manage 314(a) requests upon receipt of such information requests from FinCEN. Ensure timely escalation/reporting of any potentially true matches, potentially suspicious transactions, legal requests, and other time sensitive reports.
• Maintain the ID Theft Program by documenting ID Theft notifications or similar received from other CSB Departments, conducting outreach to such Departments if additional information is required. Perform sufficient due diligence on frequent address change requests received from customers to resolve or escalate due to potential nexus to ID Theft.
• Attend BSA/AML seminars, training, and conduct independent research and reading, as part of the continuous learning required to stay informed of current regulatory and legislative trends/areas of focus, as it applies to job responsibilities.
• Work closely with senior members of the team to assist with customer risk reviews, investigations, cross functional initiatives, managing internal relationships, system enhancements, process improvement reviews, training events, etc.
• Perform additional duties as required.

Qualifications:

• Minimum 2 years of banking/research/investigation experience.
• Strong knowledge of the Bank Secrecy Act/AML fundamentals, and an interest in continuously developing such knowledge by independently researching trends and maintaining geopolitical awareness.
• Have a logical thought process and the ability to review/evaluate transactional activity from different perspectives.
• Demonstrative organizational skills, time management skills, communication skills, and data analytical skills with keen attention to detail.
• Previous business relationship management experience.
• Prior business writing or report writing experience.
• Proficiency working with Microsoft Office products, specifically Excel.
• A positive track record of adapting to system and procedural changes.
• The ability to work both independently and collaboratively.

• The ability to make sound judgment calls and decisions based on reasonableness tests and experience.

• The ability to manage multiple deadlines, while remaining timely with obligations.
• Perform additional duties as required.

The above description covers the most significant and major responsibilities, but does not exclude other occasional responsibilities and accountabilities, the inclusion of which would be in conformity with the major purpose of this job.

Location: Hybrid/Waltham, MA
Salary Range: $26.25-35/hr

The reasonably estimated salary for this role at Cambridge Savings Bank ranges from $26.25-35/hr. Cambridge Saving Bank will determine actual compensation for the role based on factors including, but not limited to, the successful candidate's skills, qualifications, and experience. In addition, Cambridge Savings Bank offers a wide range of comprehensive and inclusive employee benefits for full-time roles including healthcare, parental planning, mental health benefits, performance bonus opportunities, a 401(k) plan and match, flexible time off, and others.

About Cambridge Savings Bank:

Cambridge Savings Bank is a full-service banking institution with over $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In March 2026, Kroll Bond Rating Agency affirmed CSB's investment-grade rating, reinforcing the bank's position as a reliable business leader. To learn more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370.

Cambridge Savings Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.