BSA/AML Business Line Liaison III

The BSA Business Line Liaison III serves as a bridge between the retail banking business and the BSA Department. This role is responsible for monitoring timeliness as well as ensuring quality in the responses given by the business segments to BSA inquiries.

The Business Line Liaison services the bank’s business segments by providing subject matter expertise to facilitate implementation, maintenance and ensure regulatory compliance with anti-money laundering programs implemented by the bank in order to mitigate regulatory and reputational risk and reduce exposure to civil and criminal liability as they apply to the bank’s products, services, processes and systems regarding BSA/AML and OFAC regulations.

The Business Line Liaison supports and coordinates efforts with all units of the bank (for example, internal and external audit, FIU, alerts, private banking etc.) as required to ensure compliance to all regulatory matters as needed.

Responsibilities:

• Provide BSA subject matter expertise to the retail business lines regarding new products, services, processes and systems, as well as maintain a detailed knowledge regarding the division’s major customer and all BSA/OFAC-related threats and/or environment in which they operate.
• Monitor timeliness and quality of updated KYC/KYA (periodic or requested) as required by policy for all accounts and as requested for any accounts under review/investigation by the various units within BSA, or after visiting a customer or obtaining information that merit an update.
• Monitor timeliness and quality of customer visitation and receipt of financial statements as required for certain hig risk accounts.
• Depending on the business unit, this could include visiting the customer or coordinating the visitation process performed by external resources. In any case, the Liaison is responsible for the appropriate documentation of any and all visitations.
• Monitor timeliness and quality of any KYC/KYA or CDD/EDD exceptions noted by the CDD/EDD Unit.
• Monitor timeliness of account closures. For cases in which the business line is requesting consideration for the account to remain open, the liaison is to review the quality of information and documentation compiled by the business officer and forward the case to BSA Management in a timely manner such that a decision may be made prior to the account closure due date.
• Coordinate an open house meeting prior to the closure due date if the complexity warrants such.
• Coordinate with the business officer the review of account documentation for new customers classified as high risk under the BSA program prior to submission to CDD/EDD Unit and for approval of the account and potential follow up afterwards.
• Review documentation compiled by the business officer for presentation of PEPs to EC for approval.
• Provide assistance to officers and credit services on BSA matters regarding potential or existing loan customers.
• Provide assistance to the business officers in reviewing Adverse Media to determine necessity for escalation to other BSA units.
• Monitor timeliness and quality of responses to inquiries on potential OFAC matches from the business officer.
• Identify BSA training needs in the business line and report to line of business and BSA Management.
• Collaborate with BSA Management to develop the scope and learning objectives for compliance training for the business line.
• Conduct BSA training for employees of the business line in support of the BSA Training Program as needed.
• Identify potential BSA-related opportunities for improvements within business units and communicate with BSA Management.
• Identify trends and changes as applicable and report to BSA Management, as appropriate.
• Provide periodic status reports to business unit heads regarding timeliness and quality issues as stated above.
• Replace Supervisor during absence, vacation, etc.
• Serve as mentor for entry level Liaisons

Minimum Education and/or Certifications Requirements:

Bachelor’s degree in finance, Business Administration, Economics, ACAMs or CRCM certification preferred.

Minimum Work Experience Requirements:

5 years as an officer in a BSA/Compliance or Internal Control position in the banking industry, preferably in anti-money laundering compliance in an international banking environment. Supervisory experience preferred.

Technical and/or Other Essential Knowledge:

Strong knowledge of the Bank Secrecy Act and OFAC regulations and compliance controls. Knowledge of banking financial principles, products and process involved in banking activities. Knowledge of lending products and processes required. Proficiency using Microsoft Office 365 products including MS Word, MS Outlook, MS Excel, MS Teams, and MS PowerPoint