What are the responsibilities and job description for the Compliance Officer/BSA Specialist position at Astra Bank?
Job Summary:
The Compliance Officer & BSA Specialist is responsible for supporting the Senior Vice President, Chief Compliance Officer in administering the bank’s compliance directives. This position participates in internal committees, audits, and regulatory examinations, and ensures that bank operations align with applicable laws and regulations.
The role involves collaboration with management and staff to ensure institutional policies are consistent with regulatory requirements. A strong understanding of compliance and risk management is essential, along with the ability to communicate clearly and work independently on deadline-driven projects.
Additionally, this role assists in the administration of the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) program. Responsibilities include day-to-day BSA/AML activities, coordination with the AVP, BSA & Compliance Officer, and support in identifying and mitigating risk.
Key Results Areas:
The Compliance Officer is responsible to deliver the following:
The Compliance Officer & BSA Specialist is responsible for supporting the Senior Vice President, Chief Compliance Officer in administering the bank’s compliance directives. This position participates in internal committees, audits, and regulatory examinations, and ensures that bank operations align with applicable laws and regulations.
The role involves collaboration with management and staff to ensure institutional policies are consistent with regulatory requirements. A strong understanding of compliance and risk management is essential, along with the ability to communicate clearly and work independently on deadline-driven projects.
Additionally, this role assists in the administration of the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) program. Responsibilities include day-to-day BSA/AML activities, coordination with the AVP, BSA & Compliance Officer, and support in identifying and mitigating risk.
Key Results Areas:
The Compliance Officer is responsible to deliver the following:
- Ensure consistent adherence to BSA/AML, OFAC, and other applicable regulations. Proactively identify, investigate, and mitigate compliance risks through monitoring and corrective action.
- Support internal and external audits by maintaining accurate documentation, preparing timely responses, and implementing recommendations to reduce future findings.
- Contribute to the development and delivery of training for staff on compliance procedures and emerging issues, ensuring understanding and adherence across departments.
- Collaborate across departments to improve compliance processes and ensure that policies and procedures remain effective, updated, and in alignment with regulatory changes.
Responsibilities and Duties:
- Monitor and support programs that ensure compliance with applicable laws, regulations, and rules governing operations and products.
- Research and implement regulatory requirements related to banking policies, consumer protection, and public interest laws.
- Assist the SVP, Compliance Officer in maintaining, updating, and enforcing compliance policies and procedures.
- Conduct investigations related to potential non-compliance issues and ensure adherence to best practices.
- Collaborate with department leaders to identify deficiencies, implement corrective actions, and prepare audit responses.
- Review new products and associated marketing materials to ensure regulatory compliance.
- Assist in managing the record retention and disposal program.
- Monitor compliance with OFAC regulations, oversee blocked funds, and help provide staff training.
- Aid in the preparation and filing of Suspicious Activity Reports (SARs) with FinCEN.
- Support training efforts for new hires and bank-wide compliance updates.
Requirements:
- Bachelor’s degree in business or related field preferred but not required.
- 2–4 years of experience in banking compliance, risk, or a related field.
- Experience in lending and banking operations preferred.
- Experience or knowledge of federal and state laws governing deposit accounts, lending, and consumer protection preferred.
Astra Bank is an Equal Opportunity Employer. The preceding job description has been designed to indicate the general nature and essential duties and responsibilities of work performed by employees within this classification. It may not contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees to do this job.
At Astra Bank we are committed to creating a diverse and inclusive work environment. We believe in providing equal opportunities to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, gender identity, national origin, age, disability, veteran status, or any other characteristic protected by law. We are dedicated to fostering an environment where everyone feels respected, valued, and empowered to contribute to our success.
