Assess financial institution and financial industry compliance with the Bank Secrecy Act (BSA) and recommend appropriate agency actions. Conduct research and analysis of issues to identify problems or deviations from regulatory requirements, develop reports, analyses, or summaries or guidance materials for use by others. Provide advice or technical assistance to representatives of regulated industries or institutions, federal and state regulatory partners on complex regulatory compliance issues, BSA requirements, FinCEN regulations and policies, or Treasury policies. Review and approve referrals by regulators of BSA violations, recommend sanctions, provide authoritative advice and assistance on specific cases. Support the authority delegated to other regulatory agencies to examine for BSA.
Core Career Descriptions
The analysts utilize knowledge and skill to conduct activities in one or more of the regulatory, policy, investigative, analytical, research, liaison, or other pertinent functions of FinCEN. The analyst accesses a variety of sources, including databases, regulatory or legal provisions, websites, and discussions with officials in the organizations with which FinCEN interacts to develop information about program activities and summarize those findings in a variety of formal and informal written products. They interact and share information with a diverse array of customers, including the regulatory law enforcement, intelligence, and financial communities, among others.
FinCEN uses state-of-the-art technology to provide investigative support and analysis to law enforcement agencies. The specialist has an integral role in the fulfillment of FinCEN's mission. The specialist's work involves developing and refining sophisticated computer systems designed to link information from various data sources relating to financial crime investigations. Using state-of-the-art Internet and encryption technology, assignments include developing and maintaining databases, analytical software, and secure communication systems. The specialist determines how to use sophisticated technology to design, develop, and configure computers that improve the quality of information available to law enforcement.
The research specialist works in a variety of areas to support domestic and international law enforcement agencies in combating money laundering and other financial crimes. Case support assignments include researching and analyzing information drawn from a variety of databases and other sources—one of the largest repositories of information available to law enforcement in the country. The specialist links together these various pieces of information related to financial crime, and then prepares reports which are used by law enforcement to support investigations. Specialists also use FinCEN’s databases and sources to develop strategic analysis – the"big picture" issues associated with financial crime. They are responsible for collecting, analyzing and developing intelligence on the emerging trends, patterns and issues related to the proceeds of illicit activities. In addition, since investigations can cross international borders, assignments can involve working with countries around the world to share information and analysis related to financial investigations. In this area, specialists work closely with various global organizations to develop international anti-money laundering strategies, policies, and programs. Specialists may also research, analyze and evaluate information to support regulatory enforcement cases.
Conducts program activities to help ensure that the institutions that are subject to Bank Secrecy Act are aware of their compliance requirements and of appropriate reporting methods and formats; creates processes and delivery mechanisms that make reporting requirement information clear and accessible; responds to inquiries; and provides training. Conduct outreach to determine requirements that require further clarity and that are technically difficult or onerous to some types of regulated businesses. Prepare training materials and programs to enhance reporting compliance and guidance materials that serve as references for covered organizations. Participates in operating a BSA "Regulatory Helpline" that serves as a resource for covered institutions with questions on BSA regulatory and compliance matters.
Perform a range of complex, sensitive work necessary to effectively administer the Bank Secrecy Act, including development and implementation of policy, outreach, issuance of regulations and guidance and recommending appropriate agency actions to RP management. Conduct projects or studies of initiatives associated with BSA regulation and oversight of regulated industries to identify solutions to problems; develop legislative or regulatory proposals; resolve regulatory policy matters; and prepare guidance and interpretative materials related to policy and regulatory issues. Liaise with regulatory partners, industry and law enforcement and officials of other organizations to discuss regulations or regulatory policy, problem resolution, BSA requirements.