BSA Officer

POSITION OVERVIEW

 The BSA Officer is responsible for managing all aspects of the Bank’s day-to-day BSA/AML/OFAC compliance program and must be fully knowledgeable of the BSA and all related regulations. The BSA Officer must understand the Bank’s products, services, customers, entities, and geographic locations, and the potential money laundering and terrorist financing risks associated with those activities. It is the expectation that the incumbent establishes, maintains and when applicable, enhances the Bank’s five (5) pillars of an AML Compliance Program to ensure an effective program is in place. 

POSITION RESPONSIBILITIES: 

• Responsible for administering, maintaining, coordinating and monitoring the Bank’s day-to-day compliance with the BSA/AML, OFAC and USA PATRIOT Act regulations. 
• Maintain current knowledge of industry trends to identify areas of concern and proactively mitigate BSA/AML/OFAC risks.
• Ensure that all required regulatory reporting is conducted in a timely, accurate, complete and compliant manner, including (but not limited to) the submission of SARs and CTRs to FinCEN and blocked or rejected property reports to the OFAC.
• Maintain an effective CDD and EDD program, which includes customer risk rating (initial and ongoing) and the review and analysis of high-risk customer relationships. 
• Communicate with applicable business departments and personnel and work collaboratively to close high-risk accounts.
• Approve or reject the opening or maintenance of certain higher risk customer types.
• Act as the liaison for State and Federal examinations and internal and external independent audits of the Bank’s BSA/AML/OFAC compliance programs.
• Respond to bank examination and audit findings, and overseeing the corrective action of any related compliance deficiencies or violations.
• Maintain and update the BSA/AML/OFAC policies and procedures.
• Conduct BSA/AML/OFAC risk assessments annually or as needed with consideration to products, services, customers, and geographies that may present BSA/AML/OFAC related risk. 
• Develop and manage relationships across business lines with an operational nexus to the BSA Department.
• Serve as the subject matter expert and the point-of-contact for the Bank on BSA/AML/OFAC-related matters and clarification on related policies and procedures.
• Oversee the Bank’s participation in information sharing programs (Sections 314a & 314b of the USA PATRIOT Act) and provide prompt responses.
• Partner with law enforcement with investigations involving Bank customers. 
• Regularly present program metrics, status, enhancements and recommendations to management committees and the Board of Directors.
• Ensure BSA/AML/OFAC compliance training is assigned and completed by all employees and the Board of Directors.
• Assess staffing resources and performance to identify areas requiring attention and/or improvement.
• Manage and mentor department staff by fostering an environment that is conducive for learning.
• Performs various other duties as assigned.

SKILLS / QUALIFICATIONS: 

• Excellent communication (written and oral) and presentation skills with the ability to communicate effectively across various business lines and levels of the organization.
• Effectively lead multiple teams in a fast-paced environment.
• Well-organized, analytical and a proven track-record of multitasking.
• Proven ability to prioritize and use sound judgment.
• Proficient in Microsoft Office (Outlook, Word, Excel, and PowerPoint).
• Maintain high standards of confidentiality and security.

EDUCATION / EXPERIENCE: 

• Bachelor’s degree from an accredited 4-year university required. 
• Preferred minimum of 10 years of banking experience with at least 5 years in a BSA/AML/OFAC compliance management role.
• Deep knowledge of the USA PATRIOT Act, BSA, and the FFIEC BSA/AML Examination Manual.
• CAMS certification required.
• Familiarity with Abrigo BAM/BAM and FIS systems.