BSA Officer

Description

The BSA Officer is responsible for managing the BSA/AML compliance function in order to ensure the bank's ongoing compliance with regulatory requirements, laws, acts, etc.; coordinating work with other units or departments; reporting pertinent information to the CRO; communicating with appropriate management and staff personnel; maintaining appropriate records and providing periodic reports; implementing strategies and tactics to achieve goals developed for the department as part of the Bank's annual operating plan; ensuring the bank's ongoing compliance with operating policies and procedures and outside regulatory requirements; monitoring bank's current and future risk and coordinating all activities to mitigate risk; providing leadership and management of direct reports; communicating with appropriate management and staff personnel; providing periodic reports.

Duties include but are not limited to:

• Works with department staff to investigate and clear all alerts generated from the BSA/OFAC/AML systems
• Ensures thorough and well-documented CDD and EDD processes are performed and that decision processes are audit and exam ready
• Direct the oversight of the BSA Team in the assessment of high-risk customers activity and transactions
• Identifies the development needs of staff members; provide coaching and training
• Maintains the Bank’s High-Risk Customer List and directs the High-Risk Customers reviews
• Manage the SAR investigation, review and filing process, ensuring that procedures and practices are thorough, complete, peer-reviewed and compliant for filing; Review each SAR for quality prior to filing
• Performs annual BSA/AML/OFAC risk assessment; measure effectiveness of existing controls and evaluate risk mitigation efforts
• Oversee and develops BSA/AML training for Board, management and staff
• Coordinates regulatory and internal audit compliance examinations
• Participates in response to exam and audit concerns and oversees corrective action of all related BSA/AML/OFAC compliance deficiencies and violations
• Provides investigative services on fraud related matters
• Interfaces with Law Enforcement Officials and the Judiciary system, as needed; resolve fraud related cases
• Ensures efficient communication between Risk Management and the business areas of the Bank
• Implements strategies to achieve goals assigned to the department
• Responsible for making sure all aspects of BSA/AML/OFAC are adequately tested at least annually
• Maintains a system of internal controls, including reviews and monitoring
• Enhances monitoring systems for BSA/AML/OFAC activities to identify suspicious and fraudulent transactions
• Current on industry changes, trends, and best practices, and assess the potential impact on processes and procedures
• Present information to and respond to inquiries from senior management, Board Members, regulatory agencies, etc.
• Provides timely BSA/AML/OFAC/SAR reports to management and Board Committees
• Maintains a thorough knowledge of the BSA and all related AML and OFAC regulations and monitoring related trends, emerging issues, and regulatory changes

Requirements

• A B.S. or B.A. degree in a related field of study preferred
• Specialized bank education and training; Certified Anti-Money Laundering Specialist (CAMS) Certification Thorough knowledge of current banking regulations
• Minimum of seven (7) years of progressive BSA/AML/OFAC program management experience at a financial institution
• Strong leadership; proficient interpersonal, communications reading, writing, grammar, mathematics skills
• Ability to manage multiple priorities and demands
• Proficient analytical and problem-solving skills
• High reasoning skills including the ability to define problems, collect data, establish facts, and draw valid conclusions
• Ability to apply critical thinking to identify the strengths and weaknesses of alternative solutions or approaches to problems
• Expertise in Microsoft software, such as Excel, Word, PowerPoint, etc.
• Working knowledge of bank operating policies and procedures which impact bank services; a thorough knowledge of the features and benefits of all bank products and services; demonstrated management and leadership skills; valid driver's license
• Extensive knowledge of Bank Secrecy Act, USA Patriot Act, Money Laundering Control Act, Office of Foreign Asset Control regulations, strategies and enforcement policies, familiarity with key banking regulations and interpretations, knowledge of bank laws and operations, risk assessments and analysis

Compensation Package

• Competitive pay; DOE
• Excellent benefits package including medical, dental, life and disability plans
• 401(k) Plan

ACBB is an Equal Opportunity Employer M/F/Disability/Vet