BSA Officer

WHAT YOU’LL DO

This role reports to the EVP, Chief Compliance Officer of Busey Bank (“Bank”) and will serve as the Board of Directors designated Bank Secrecy Act (“BSA”) Officer and Managing Director of Financial Crimes Risk Management (“FCRM”). The position is responsible for administering and executing the Bank’s BSA, Anti-Money Laundering (“AML”), and Office of Foreign Assets Control (“OFAC”) economic sanctions programs collectively referred to as FCRM program. The position is also responsible for management and oversight of the FCRM department. The FCRM department’s primary responsibilities include governance of the FCRM program, conducting enhanced due diligence of high-risk customers, and detecting, investigating, and reporting suspicious activity that involve suspected BSA and OFAC violations, as well as potential money laundering or terrorist financing.

WHAT YOU’LL BRING

Duties:

• Provides strategic leadership and directs the FCRM program to position the Bank to effectively comply with the BSA/AML and OFAC laws and regulations.
• Responsible for interpreting any new BSA/AML and OFAC regulations and guidance and drives incorporation of he FinCEN’s national priorities into the FCRM program.
• Responsible for management and improvement of the Bank’s BSA/AML and OFAC compliance policies and ensures that they drive effective and efficient compliance with applicable laws, rules, regulations and regulator expectations.
• Strives to become a trusted financial crimes advisor to LOB, support unit, and subsidiary management for projects, products and processes.
• Builds collaborative business partnerships with lines of business (“LOB”), support units, and subsidiary management to understand core business activities, risks, products/services, and customer transaction activity to provide compliance advice and guidance on the development and implementation of effective financial crime controls.
• Effectively manages, develops, and coaches FCRM associates in monitoring, investigating, and reporting processes. Advances a culture of teamwork, transparency, and accountability, while motivating associates to high levels of performance.
• Maintains and oversees the Bank’s Know-Your-Customer/Customer Identification Program (KYC/CIP) and related customer due diligence and enhanced due diligence processes that comply with the requirements for beneficial owners of commercial customers.

• Serves as the central point of contact with internal auditors, consultants and regulatory examiners in connection with their review of the FCRM program, including responding to document requests and responding to compliance questions and concerns. Closely tracks the prompt resolution of audit and regulatory issues.
• Prepares quarterly reports, presentations, and other materials for the Board of Directors and senior management.

• Provide oversight and guidance on subsidiaries’ FCRM programs.
• Leads and manages the day-to-day activities of the FCRM Department. The FCRM Department is responsible for:

• Maintains effective AML risk-rating processes to effectively evaluate the level of risk posed by each LOB’s strategies, customers, and products and services.
• Conducts effective and well-documented periodic reviews of high-risk customers.
• Investigates suspicious activities identified by systems and Bank staff.
• Oversees and participates in BSA/AML/OFAC monitoring program.
• Prepares and files complete and accurate SARs and CTRs with FinCEN within regulatory timeframes.
• Defines the content and assists in the delivery of BSA/AML and OFAC compliance training for all applicable associates.
• Performs the annual Bank-wide BSA/AML/OFAC risk assessment.
• Pursues continuous improvement in the Bank’s BSA/AML Program.
• Periodically reviews Bank policies, procedures, and practices to ensure compliance with financial crimes laws and regulations.
• Administers transaction monitoring software for FCRM and Fraud.

• Performs additional duties as requested or assigned.

Qualifications:

• 
  Sufficient knowledge to resolve and answer complex compliance questions throughout all levels of the Bank
• Advanced verbal and written communication skills
• Strong initiative and decision-making abilities
• Effective coaching and training skills
• Strong risk assessment and priority-setting abilities
• Ability to effectively partner with cross-functional departments
• Excels in a fast-paced team-oriented environment

WHY IT MATTERS

The FCRM Program protects the Bank, our customers, and the broader financial system against nefarious and criminal activities that are facilitated through or against the financial system. Having a strong and proactive FCRM Program gives Busey Bank a competitive advantage over its competitors. In today’s regulatory environment, addressing financial crimes risk before they become issues is extremely valuable, not only to protect the Bank and its customers, it also builds up the Bank’s reputation with its customers and regulators. A strong reputation improves customer retention and attracts new customers. You will lead and further build a FCRM team of professionals. You will also be a key partner to the Bank’s business lines and key to their success and the success of the Bank.

EDUCATION, TRAINING & STANDARDS OF PERFORMANCE

• 12 years of experience in a BSA Leadership position at a bank with assets greater than $15 billion required
• Experience in leading a risk or compliance team through a transitional period of growth.
• Expert knowledge of all aspects of BSA, money laundering, and OFAC.
• Knowledge of CTS Reports and AML software.
• Fundamental knowledge of accounting, finance, and economic principals.
• Excellent oral and written communication skills.
• Excellent computer skills in a Microsoft Windows environment including proficiency in Word and Excel.
• High reasoning skills including the ability to define problems, collect data, establish facts, and draw valid conclusions.
• Ability to set clear and actionable expectations; stimulate learning, growth, and performance improvement in others; empower others to contribute at increasingly higher levels; and provide candid and beneficial feedback to team members.
• CAMS certification is a plus.

WORK ENVIRONMENT: Duties are performed in an office setting and include physical demands such as the manual dexterity and skill to operate standard office equipment. Reasonable accommodations may be made to enable people with disabilities to perform the essential functions of this position.

The above statements are intended to describe the general nature of work being performed by people assigned to this job. They are not intended to be considered an exhaustive list of all responsibilities, duties, and skills of the people so classified.

Busey believes that diversity and inclusion among our teammates is critical to our success as a company, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool.

Equal Opportunity Employment is a priority for Busey and all qualified applicants will receive consideration regardless of race, color, religion, national origin, genetic information, sex (including pregnancy), age, sexual orientation, gender (including gender identity and expression), marital status, military status, veterans status, citizenship status, work authorization status, work disability, order of protection or any other characteristic protected by applicable law or other non-merit based factors.