BSA Analyst

EMPOWER OVERVIEW

Empower is shaking up an outdated financial system by providing real opportunity for our customers: the opportunity to get the cash they need, to access fair credit, and to change their financial story. Today, we’re helping millions of people find financial security through machine learning models that evaluate creditworthiness using a more inclusive lens and mobile-first products: Cash Advance, Thrive line of credit, and Petal credit cards. Tomorrow? Creating even more financial paths for our customers (and their wallets) to succeed. 

This year, Empower ranked #65 on Inc. 5000’s Fastest-Growing Private Companies list — our third year in a row cracking the top 100 — and was named by Forbes as one of the 25 Next Billion-Dollar Startups for 2024. Empower was also featured by Forbes on America’s Best Startup Employers list in 2023, and our Thrive line of credit product was named by Fast Company as one of 2022’s Next Big Things in Tech.  

Empower is backed by Sequoia Capital, Blisce, and Icon Ventures. Ready to grow your impact and accelerate your career? Take a look at our open roles — we can’t wait to meet you.

THE EMPOWER WAY

Great Expectations: We come up with bold, audacious goals for ourselves and go all out for impact

Owner Mindset: We give every employee latitude to act independently, make smart choices, and move the business forward

Spirited Debate: We love skeptics and seek counter opinions to challenge our personal assumptions and expand our view

Customer Obsession: We listen to understand, empathize, and create a memorable, rewarding experience for our community

Inclusive Collaboration: We believe diverse teams make the best decisions, and we strive to give diverse voices a seat at the table

No Jerks Allowed: We value our relationships and take the time to build trust and connection and communicate respectfully

WHAT EMPOWER OFFERS

Competitive salary

Generous equity package

Full healthcare benefits

Technology expense reimbursement

Work from anywhere

JOB DESCRIPTION

The BSA analyst position is responsible for ensuring compliance with the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) policies and procedures and the applicable federal regulations to protect the company from being used as a conduit for illegal activity. The BSA/AML program includes Office of Foreign Asset Control (OFAC), Suspicious Activity Reports (SARs), Transaction Monitoring Review, 314(a), and AML internal Referrals. The BSA Analyst is required to prepare detailed investigation reports that logically outline investigative steps taken, research completed, recommendations, and decisions made. The BSA Analyst utilizes analytical judgment and knowledge of the Bank Secrecy Act and Anti-Money Laundering laws and regulations to recommend if a Suspicious Activity Report (SAR) should be filed.

Travel for company offsites is expected at a minimum of 2 times a year.

RESPONSIBILITIES

• Review and decision BSA/AML Transaction Monitoring and Fraud alerts 

• Conduct periodic High Risk/Enhanced Due Diligence reviews

• Prepare reports on BSA/AML (and fraud) issues and compile SAR referral narratives and prepare SAR referrals for review

• Document and update BSA/AML and fraud systems

• Review customer-submitted information & documentation for inconsistencies

• Regularly report on/escalate situations that require higher-level review

• Actively discuss and provide your thoughts & recommendations, both internally and with our partner, on our BSA/AML processes, procedures, and alert rulesets

QUALIFICATIONS

• BA/BS degree or equivalent practical work experience

• CAMS or similar professional certification (preferred)

• 2+ years of experience assessing and reviewing fraud/BSA/AML alerts and escalations for potentially suspicious activity 

• 3+ years of experience directly interfacing with internal and external customers

• Strong investigative and analytical skills

• Ability to work independently and in a team environment

At Empower, we hire for people that push themselves to understand others and seek out ways to challenge their personal assumptions. Our hope is that by fostering such an environment, we strengthen our business and relationships by putting people first. We are committed to building a diverse, inclusive, and equitable workspace where everyone (regardless of age, education, ethnicity, gender, sexual orientation, or any personal characteristics) feels like they belong. Even if your experience doesn’t exactly match up to our job description, you should feel empowered to apply regardless!