EDD Lead

Irvine, CA

The EDD Lead reviews and analyzes high-risk customers and transactions to help prevent money laundering and other financial crimes.

Essential Duties and Responsibilities: To perform this job successfully, an individual must be able to perform the following satisfactorily; other duties may be assigned. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

  • Perform and document initial CDD/EDD for high-risk accounts, including correspondent banking customers, foreign financial institutions, Third Party Payment Processors, cash-intensive businesses and Money Service Businesses (MSBs).
  • Perform, document and manage ongoing enhanced due diligence (EDD) monitoring for high-risk accounts.
  • Assist in BSA/AML/OFAC-related investigations and alert management.
  • Prepare Suspicious Activity Reports (SARs) within required timeframe. Escalate to BSA Officer for review and submission to FinCEN.
  • Perform peer review of other BSA Team members’ initial and ongoing CDD/EDD reviews, as an added quality control measure.
  • Assist department with 314(b) collaborations.
  • Assist with the development and maintenance of Bank questionnaires, checklists, and tracking systems.
  • Participate in team meetings and share ideas and help develop solutions designed to achieve departmental goals.
  • Be an active participant in policy, procedure, and process improvements.
  • Performs all other duties as assigned.

Competencies: To perform the job successfully, an individual should demonstrate the following.

  • Energetic and positive attitude, with a focus on internal and customer service and continuous learning.
  • Strong analytical skills and attention to detail.
  • Ability to multi-task, prioritize and work efficiently in an often deadline-driven environment.
  • Excellent communication skills with all staffing levels and clients/customers.
  • Handle confidential information appropriately.
  • Must be able to work independently, as well as part of a team.

Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

  • Education/Experience: Bachelor’s Degree in Business, Accounting, Finance or related field, or equivalent combination of education and experience in the BSA/AML-related role within a financial institution.
  • Minimum 5 years’ experience in an EDD Analyst role.
  • Experience with Correspondent Banking and Foreign Customers preferred.
  • Solid understanding of BSA/AML/OFAC regulations, including CIP, KYC, CDD, EDD, and USA PATRIOT Act.
  • Language Ability: Read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals. Write routine reports and correspondence. Speak effectively before groups of customers or employees.
  • Mathematical Ability: Calculate figures and amounts such as discounts, interest, comm1ss1ons, proportions, percentages, area, circumference and volume. Apply concepts of basic algebra and geometry.
  • Reasoning Ability: Solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
  • Computer Skills: MS Office

Work Environment: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually moderate.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to stand; walk; sit; use hands to finger, handle, or feel and talk or hear. The employee is frequently required to reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception and ability to adjust focus.

Training: Must complete all required mandatory and regulatory training by the assigned due date. Bank Secrecy Act (BSA): Follow all policies and procedures of Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Asset Control (OFAC). Complete online compliance training as required.