BSA Manager

Job Description 

The BSA Manager is responsible for the oversight, supervision, and performance management of a team of assigned BSA Analysts, providing daily guidance and expertise to ensure compliance with the Bank’s BSA policies and procedures as well as federal regulations. May be responsible for oversight and supervision of teams involved with the AML system alert disposition, Due Diligence, Enhanced Due Diligence, currency transaction reporting or AML case investigations. Responsibilities include active participation in teamwork functions including currency transaction report preparation and filing assigned daily alerts, CDD/EDD or investigation cases and or SARs dependent on team assignment. Additional responsibilities may include reviewing information, reporting, status reports, approvals, and escalations. Provides consultation to other internal parties regarding BSA, AML, OFAC, and USA Patriot Act. 

Reports To 

•    BSA/AML Director  

Primary Responsibilities 

•    Responsible for the team workflows, such as reviewing and preparing currency transaction reports, AML Alert dispositions for suspicious activity, OFAC alerts, CDD/EDD or AML case investigations.  

•    Acts in a lead capacity to BSA Analysts in providing daily guidance and expertise to ensure compliance with Bank’s policies and procedures. 

•    Perform and assign annual EDD Reviews on high-risk customers. 

•    Performs secondary quality assurance reviews of assigned responsibility. Ensures assigned area of responsibility is completed accurately and timely. As a working Manager, will be responsible for completion of assigned team workflows. 

•    Detect and monitor suspicious activity and possible money laundering patterns. Further researches and completes Suspicious Activity Reports (SARs) by self or Analyst(s) and submits to BSA Director for review. 

•    Responsible for assisting BSA Officer in performance management and overall development of KYC or operations staff within their assigned tasks of individual team members over time, to evaluate performance, learning, and capability to identify special training needs to increase team efficiency. 

•    Responsible for converting International Wires into Fed Format and feeding into the Verafin system on a weekly basis.  

•    Responsible for Monetary Instrument Log maintenance including reviewing and correcting. 

•    Assists BSA/AML Officer when needed to submit Currency Transaction Report (CTR) to Fincen.  

•    Assists the BSA/AML Officer in compiling data for biennial Phase I and Phase II exemptions. 

•    Assists the BSA Director with responding to audit, exams, and quality control reviews to address observations, recommendations, and opportunities for process enhancement.  

•    Must proactively and effectively attempt to address any issues that might be escalated by business units while keeping the BSA Director informed. 

•    BSA Manager serves as 314A and 314B contact for the bank. Performs 314A bi-weekly searches.  Designated 314B contact for the Bank. 

•    Serves as right hand to BSA Officer/ informal interim department point of contact. 

•    Conduct training of new hires in AML/BSA Compliance as needed.

•    Conduct training for existing employees in AML/BSA compliance to maintain employee knowledge. 

•    Assist the BSA Director in updating and maintaining the BSA Risk assessment and the adequacy of the BSA program to mitigate risks and enhance controls when necessary. 

•    Any or all other duties as assigned. 

Desired Skills & Experience 

•    Proficiency in computer applications (i.e., Microsoft Word and Excel)

•    5 years of experience involving financial research, AML analytical software, AML Investigations, regulatory agency within the financial industry 

•    3 years of experience managing, leading, and training investigative teams within the financial industry 

•    Ability to learn and use Verafin account monitoring software

•    Ability to compile and analyze account data 

•    Good organizational skills and ability to multi-task are essential, along with the willingness to take the initiative to get things done 

•    Strong proofreading skills and aptitude for high degree of precision in all work 

•    Ability to work independently and in a team setting

•    Ability to maintain confidentiality of sensitive material 

•    Ability to sit at a computer for extended periods of time

•    Certified Anti-Money laundering specialist (CAMS) or equivalent current professional certification(s) preferred