BSA/AML OFAC Officer

Our Company: Since our founding in 1917, one family has guided LSB. Today, the fourth generation of that same family builds on this remarkable legacy. Together with an entire staff of like-minded people we have embraced a simple philosophy: people helping people. LSB offers quality products at great rates, provides outstanding personal service, reinvests in our community, and creates relationships that last generations.

Job Overview: Working with senior management, The BSA/AML OFAC Officer administers and maintains all aspects of the bank’s Bank Secrecy Act/Anti-Money Laundering Compliance Program and develops, recommends and implements necessary changes to the programs.

The BSA/AML OFAC Officer ensures the program continues to function at a high level of compliance with all BSA/AML related laws and regulations, internal policies and Federal regulatory expectations. The BSA/AML OFAC Officer is required to be fully knowledgeable and skilled in all areas of BSA/AML compliance and to recognize, develop, and implement effective compliance related solutions for LSB’s BSA/AML program.

Responsibilities:

Coordinate and oversee an effective Bank Secrecy Act/Anti-Money Laundering/OFAC Compliance Program that complies with current industry best practices, regulatory guidance and examination requirements.

Oversee BSA Monitoring and Filings:

· Ensure all required regulatory reporting is conducted in a timely, accurate, and complaint manner.

· Direct the administration of Prime Compliance Suite AML Software and oversee alert decisioning and monitoring.

· Ensure staff completes required CTRs by comparing system generated reports to CTRs submitted. Coordinate completion of missing reports with staff and management.

· Review watch lists and watch lists alerts. Analyze possible matches and take appropriate follow-up actions.

· Review anti-money laundering alerts for suspicious activities. Perform additional research to determine if activity is suspicious.

· Compose, review and file Suspicious Activity Reports (SARs) and conduct follow-up reviews to determine if subsequent SAR filings are required.

· Investigate staff reporting of possible suspicious behavior and file SARs as necessary.

· Review 314(a) procedures and reporting.

Establish and maintain appropriate SAR investigations, maintain review and report processes that convey adequate investigation and research, promotes consistent decisions, and provides detailed documentation.

Administer and enhance the BSA/AML/OFAC/USA Patriot Act monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity.

Conduct annual BSA/AML/OFAC risk assessments with consideration of products, services, customers and geographies that may present BSA/AML/OFAC related risks.

Acts as a liaison/contact for examinations, internal audit and external audits of the BSA/AML compliance programs. Respond to exam and audit concerns and implement corrective action as needed.

Administer BSA/AML/OFAC related training programs for directors, management and employees and provide BSA guidance and coaching to employees.

Maintains BSA/AML related monitoring and reporting systems. Serves as subject matter expert for all systems related to BSA/AML activities.

Monitor and analyze developing industry and compliance trends and changes to regulations pertaining to BSA/AML/OFAC/USA Patriot Act. Advises stakeholder on emerging risks, new or amended laws, regulations, or agency guidance and recommend and implement program changes to mitigate those risks.

Requirements:

Bachelor’s degree preferred.

Minimum of 5 years of experience in Bank Secrecy Act/Anti-Money Laundering and regulatory compliance in the banking industry.

Expert knowledge of banking regulations and guidelines, BSA/AML, Office of Foreign Assets Control (OFAC), PATRIOT Act regulations and consumer compliance regulations.

Familiarity with BSA/AML automated monitoring systems.

Strong interpersonal, communication and organizational skills with the ability to work independently, as well as collaboratively within a team environment.

Strong decision making, analytical and investigative abilities with attention to detail and accuracy.

Ability to interact effectively with all levels of management, regulators and examiners while maintaining strict confidentiality.

These above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified. Management reserves the right to change this position description at any time according to business needs.

Lisle Savings Bank does not discriminate in employment on the basis of race, color, religion, sex (including pregnancy and gender identity), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, membership in an employee organization retaliation, parental status, military service or other non-merit factor.

Job Type: Full-time

Pay: $70,000.00 - $75,000.00 per year

Benefits:

• Dental insurance
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Parental leave
• Professional development assistance
• Retirement plan
• Vision insurance

Schedule:

• 8 hour shift
• Monday to Friday

Work Location: In person

Salary : $70,000 - $75,000