What are the responsibilities and job description for the BSA Manager position at Piermont Bank?
About Us:
Piermont Bank is a tech-enabled digital commercial bank founded in 2019 with a mission of changing the face and pace of banking. It provides an unprecedented experience that blends the best of banking and agile Fintechs. At Piermont, we are purpose-driven, and focused on creating and delivering banking products relevant to today’s digital economy. We are the go-to Bank for the fintech ecosystem. For more information, visit www.piermontbank.com.
The Role:
The BSA Manager will work with the BSA Officer in the planning, coordination, and implementation of the BSA Programs across the Bank. The BSA Manager performs a wide variety of duties necessary to ensure the effective operation of the BSA function.
Responsibilities:
- Identify, assess, and review high risk accounts.
- Monitor OFAC screening and 314(a) information requests in BSA monitoring system.
- Update BSA and OFAC policies, risk assessments, and procedures.
- Review CIP Documentation to ensure accuracy.
- Complete Customer Due Diligence for new and high-risk customers in accordance with the Bank’s Enhanced Due Diligence (EDD) Procedures and regulatory requirements.
- Prepare Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs).
- Support bank personnel with BSA, AML & OFAC issues.
- Comply with all applicable federal and state laws and regulations.
- Prepare and analyze MIS reports for BSA transactional activity for Senior Management and the Board.
- Review and approve the customer due diligence information for high-risk customers at onboarding.
- Conduct EDD reviews for High-Risk Customers.
- Review and update the BSA and OFAC policies, procedures, and risk assessments.
- Review and approve SAR reports, and 90 day follow up reports.
- Support Bank staff with BSA, AML and OFAC issues, and provide training to frontline personnel.
- Review and approve CDD for Fintechs, and other fintech related BSA items.
- Conduct BSA quality assurance reviews.
Qualifications:
- Bachelor’s degree required with 5 to 7 years of proven and progressive experience in a compliance role and compliance environment.
- CAMS certification preferred.
- Minimum 5 years’ experience in utilizing research/investigative databases and software; applications to analyze and detect transactional patterns and trends.
- Extensive knowledge in Bank Secrecy Act and USA Patriot Act regulations and requirements.
- Knowledge on Federal regulations relating to the basic principles of fraud and money laundering.
- Ability to form effective relationships and achieve influence at the most senior level in the organization.
- Proven ability to prioritize competing demands.
- Working knowledge of the Microsoft Office Suite of products.
- Analytical writing skills.
- Strong verbal and written communication skills.
The hiring range for this position is $116,000 to $125,000 per year. The base pay actually offered will take into account internal equity and also may vary depending on the candidate’s job-related knowledge, skills, and experience, among other factors. A bonus and/or incentives may be provided as part of the compensation package, in addition to the full range of medical, dental, vision, 401k, and other benefits.
Piermont Bank is an equal-opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We do not discriminate based upon race, religion, color, national origin, political affiliation, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability or other applicable legally protected characteristics.
Salary : $116,000 - $125,000
