What are the responsibilities and job description for the BSA Specialist position at Atlantic Community Bankers Bank?
Description
Atlantic Community Bankers Bank (ACBB) is seeking a dedicated and detail-oriented BSA Specialist to join our Risk & Compliance team.
About Us:
Embark on an exciting journey with Atlantic Community Bankers Bank (ACBB), where we're shaping the future of community banking! ACBB, a state-chartered, Federal Reserve member bank, is exclusively owned by community bank shareholders. We take pride in offering dynamic correspondent services, including loan participations, Fed Funds transactions, compliance services, settlement solutions, and more—all without competing with our customer banks. Join our passionate team and help us deliver innovative solutions to community banks nationwide.
Job Title: BSA Specialist
What you’ll bring:
The BSA Specialist is responsible for performing various risk and compliance functions to ensure adherence to BSA/AML laws and regulations, including the USA PATRIOT Act, CIP, Beneficial Ownership, and OFAC requirements. The role includes supporting reviews related to potential money laundering, terrorist financing, drug trafficking, fraud, and other unlawful financial activities. The BSA Specialist will analyze transaction monitoring alerts, conduct EDD reviews, and escalate potential risks as necessary.
Essential Duties
1. Transaction Monitoring & Investigations
- Review and remediate alerts for marijuana-related businesses (MRB), OFAC, and politically exposed persons (PEP), escalating as needed for further investigation or potential Suspicious Activity Report (SAR) filings.
- Review and disposition alerts from the transaction monitoring system, escalating cases as necessary.
- Conduct EDD on high-risk customer accounts, including research and risk assessment.
- Identify and escalate suspicious activity related to money laundering, terrorist financing, fraud, or other financial crimes.
2. Reporting & Documentation
- Assist in the creation and maintenance of compliance-related reports.
- Ensure accurate documentation of BSA/AML investigations, alerts, and case reviews.
- Aid in the development, revision, and recommendation of updates to policies and procedures to align with regulatory changes.
3. Audit & Regulatory Support
- Assist in preparation for external third-party reviews and visitations.
- Ensure compliance with FFIEC, FinCEN, and other regulatory guidelines affecting the institution.
Non-Essential Duties
1. Training & Staff Support
- Participate in team meetings, discussions, and knowledge-sharing sessions related to compliance.
- Support internal employees and managers in understanding BSA/AML responsibilities.
- Provide input on staff training programs to enhance regulatory awareness.
- Contribute to the development of compliance-related training materials for staff as needed.
2. Special Projects & Ad-Hoc Research
- Conduct research and data gathering for special projects as assigned.
- Assist in the implementation of new compliance initiatives or process improvements.
- Contribute to the development of automated monitoring processes and regulatory reporting enhancements.
3. Compliance Program Participation
- Participate in compliance-related committees, working groups, and initiatives.
- Ensure all tasks and duties performed are aligned with risk management best practices.
- Completes required BSA/AML training and certifications as assigned.
- Identify areas for improvement within the BSA/AML compliance program.
Requirements
Basic Qualifications/Skills:
- Education/Training: High school diploma or equivalent required; Specialized bank training and/or additional education preferred; Possession of CAMS or similar Anti-Money Laundering (AML) certification is a plus.
- Experience: A minimum of (2) years' experience in banking preferred. Basic knowledge of banking regulations, in BSA/AML or a similar compliance-related field preferred.
- Skills: Effective written and verbal communication skills; Effective time management and organizational skills; Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint, Outlook); Experience with automated transaction monitoring systems; Ability to analyze data; Strong attention to detail and fact-finding abilities; Ability to detect patterns and conditions through observation; Strong customer service orientation; Ability to manage multiple competing priorities.
Benefits of Joining Us:
- Competitive compensation package
- Comprehensive benefits package
- 401(K) with employer match
- Generous Paid Time Off (PTO) policy
- Tuition reimbursement
- Birthday holiday and additional unique benefits
- Employee Assistance Program
- Hybrid work model supporting work-life balance
- Performance bonus opportunities
- Opportunities for career growth and advancement.
Physical Demands / Working Environment:
- It is a requirement to be physically present at the Glastonbury, CT office (3 days in office, 2 days from home).
- Primarily sedentary, requiring occasional movement throughout the office environment.
- Effective communication via phone and email, with the ability to use automated systems accurately.
- Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Join us at ACBB and be part of a team that's shaping the future of community banking! We look forward to welcoming you to our dynamic and collaborative work environment.
ACBB is an Equal Opportunity Employer M/F/Disability/Vet
Additional Information:
- Employment is contingent upon successfully passing a background check and verification of eligibility to work in the United States.
- At this time, ACBB cannot provide visa sponsorship or engage in C2C (Corp-to-Corp) or C2H (Corp-to-Hire) arrangements for this position.
