Serves as the Bank’s BSA Officer, responsible for administering and monitoring the Bank’s BSA/AML/OFAC program
Essential Job Functions
- Responsible for coordinating and monitoring compliance with the Bank Secrecy Act and bank’s BSA policy. Bank liaison with all federal agencies for matters pertaining to the BSA, and maintain all bank records required by the BSA policy.
- Remains current with BSA regulatory compliance and establishes controls to mitigate risks emerging from new regulation, legislation and issues identified in the industry.
- Responsible for the BSA/AML/OFAC risk assessments and policy for new and enhanced product and service development, assessing inherent risk and exposure, as well as applicable control environment.
- Responsible for the bank’s Suspicious Activity (SAR) policy, and following all reporting requirements and maintain bank records.
- Ensures completions of time-sensitive, regulatory mandated tasks (SAR, 314(a), 314(b), and law enforcement requests).
- Ensures compliance with all bank policies and all applicable, federal and state laws, regulations and guidance related to BSA, AML and USA Patriot Act, etc.
- Reviews updates and upgrades to the bank’s core systems and assesses the impact to the BSA and OFAC program and software.
Job Skill Level / Additional Requirements
- Minimum five years of specific BSA/AML/Fraud prevention and personal investigative experience and SAR filing experience in a financial institution.
- CAMS certification is strongly preferred.
- Comprehensive understanding of banking and all types of financial crime patterns, thorough knowledge of the Bank Secrecy Act and USA PATRIOT Act, as well as a strong understanding of OFAC regulations.
Professional Experience: 3 – 5 years related experience and/or training. Management experience is strongly preferred.
Educational Experience: Bachelor’s degree (B.A.) from four-year college or university; or equivalent combination of experience and/or training.
