Deposit Compliance Specialist

Description

Summary Under the general supervision of the BSA/Deposit Compliance Officer, this position independently performs a wide variety of general or specialized functions in regard to Deposit Compliance, Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT) and Office of Foreign Assets Control (OFAC) Policy and Procedures. Conducts compliance testing and monitoring of policy, procedures, and customer transactions against all applicable laws and regulations throughout the company.

Assists Chief Risk Officer in testing and monitoring with compliance and risk reviews, as needed.

Essential
Duties
and
Responsibilities include the following. Other duties may be assigned.

• Assist the bank's BSA Officer to ensure compliance with BSA and FinCEN requirements.
• Provides assistance with Bank Secrecy Act Administration ensuring regulatory deadlines are met.
• Overall review of customer transactions/monitoring
  • Currency Transaction Report (CTR) filings
  • Suspicious Activity Report (SAR) write-ups & monitoring
  • Subpoena and summons requests
  • Reviews alerts generated from the BSA software
• Review Currency & Large Dollar reports.
• Conduct Customer Due Diligence & Enhanced Due Diligence reviews.
• Perform the FinCEN 314(a) reviews every two weeks.
• Assist with reviews of new Customer Information Files (CIF) records for compliance with Customer Information Program (CIP).
• Monitor year-end reporting on all non-resident aliens.
• Monitor potential OFAC matches and takes appropriate action to escal...
• Review monetary instrument logs for anomalous activity.
• Assist with annual reviews of customer exceptions from currency transaction reporting.

• Completes Estate inventories. This may include working with the estate attorney.
• Review required documentation for deceased customers.
• Work with bank staff in obtaining appropriate documentation on deceased customers.
• Process interest adjustments for deceased customers and beneficiaries for year-end reporting.

• Processes and tracks all garnishment/levy requests.

• Assists Chief Risk Officer with annual vendor risk assessments and periodic monitoring.

• Performs checkback on all new CIF records and maintenance.
• Performs checkback on all new DDA, CDA and SDB and maintenance.
• Performs checkback on IRA’s
• Performs checkback on Reg CC Holds.
• Performs checkback on beneficial ownership documentation.
• Indexes all "scanned" documents in Director Software.

• Assist with conducting compliance training for the bank's board of directors and bank staff.
• Conduct compliance reviews for each area of the Bank's operations.
• Perform surprise cash drawer audits at all Vision Bank locations. Provide compliance support to Vision Bank staff.
• Assist with year-end system reviews, including IRAs, 1099 form reviews, CIF records, etc.
• Performs year-end processing and reviews for IRAs, including excess contributions, and ensuring required minimum distributions (RMD) have been satisfied.
• Processes required reporting on deceased IRA customers and beneficiary payouts.

• Reviews new IRA files and all IRA transactions for accuracy.
• Prepares and processes all required IRA documentation to customers, including annual documentation.
• Performs year-end processing and reviews for IRAs including excess contributions and ensuring Required Minimum Distributions (RMD) have been satisfied.
• Oversees and administers all RMDs.
• Processes required reporting on deceased IRA customers and beneficiary payouts.

• Monitor overdrawn account activity.
• Assist with Return Mail.
• Prepare management reports as needed.
• Performs special projects as assigned.
• Demonstrate compliance with all bank regulations and keeps up to date…