What are the responsibilities and job description for the BSA Representative position at PONCE BANK?
Impact
Plays a critical role in safeguarding the Bank against financial crimes, ensuring adherence to compliance standards, and maintaining the integrity of the Bank’s operations.
Responsibilities
This position performs a multitude of quality support in the area of BSA, USA Patriot Act, Anti-Money Laundering, OFAC and Customer Identification Program compliance using industry standard and regulatory guidance to ensure the Bank’s compliance efforts are maintained on a daily basis. The BSA Representative assures compliance with all Bank policies and procedures, as well as, all applicable state and federal banking regulations, while ensuring complete knowledge of BSA Policy.
Essential Functions
1. Maintains proficient knowledge of the rules and regulations, including but not limited to, the Bank Secrecy Act, USA Patriot Act, AML, OFAC, and CIP.
2. Performs daily review, monitoring, reporting and quality assurance of New Account Memorandums.
3. Perform daily review monitoring, reporting and quality assurance of Certification of Beneficial Ownership processes.
4. Prepare and file Currency Transaction Reports (CTRs) in compliance with regulatory requirements.
5. Assist in Know Your Customer (KYC) and OFAC clearance for new account applications.
6. Perform quality assurance reviews on KYC procedures and digital product offerings.
7. Input data into automated monitoring systems to ensure compliance with Customer Due Diligence (CDD)
and Enhanced Due Diligence (EDD) requirements.
8. Assist in retrieving documentation and providing necessary information during audits and examinations. Compile, review, and submit BSA-related reports as requested.
9. Provide BSA, AML, OFAC and CIP compliance support across the organization; interacts with Bank personnel pertaining to such issues.
10. Support the BSA department by preparing reports, maintaining records, and performing clerical tasks as needed.
11. Assist staff with daily tasks, operations, and quality control to ensure optimal resource utilization.
12. Address inquiries via telephone and direct calls to appropriate Bank personnel.
13. Follow Bank policies and procedures while contributing to departmental and organizational goals.
Ancillary Functions
- Assures adherence to Bank policies and procedures and federal and state regulatory requirements.
- Provides cross-functional support to other areas of the department and the Bank where service or assistance is needed.
- Performs tasks which are supportive in nature to the essential functions of the job, but which may be altered or re-designed depending upon individual circumstances.
Mandatory Training Curricula
Training is required of all Bank staff as related to regulatory mandated compliance topics and courses required for specific job functions. Career enhancement training courses are also available. Please refer to course catalog and management for details.
Competencies (refer to Competencies Library)
Skills
- Clearly communicates in English, both written and verbal, with attention to detail in documentation and reporting;
- proficient in basic mathematics, financial calculations, and data entry to support compliance reviews and reporting;
- proficient interpersonal relations while maintaining confidentiality and professionalism;
- thorough understanding of BSA, AML, OFAC, and other relevant regulations; ability to interpret and apply compliance guidelines accurately;
- ability to analyze financial transactions, detect patterns, identify unusual or suspicious activities, and provide actionable insights;
- organizational skills with the ability to multi task;
- proficient PC skills, including Microsoft Office and compliance systems/software for monitoring and reporting activities.
Physical Demands
The physical and related demands described in this section are representative of those that must be met by an employee to successfully perform the essential functions of this job. This job is mostly sedentary in nature but may occasionally involve lifting files and other materials that weigh up to 20 lbs. Employees in this job must be able to work in an office environment during regular business hours where they come into regular and frequent contact with internal and external customers and other members of the public. Therefore, employees in this position are expected to have consistently positive interactions with the public.
