BSA Manager

The BSA Manager is responsible for performing a variety of duties required to ensure the accuracy and effectiveness of the bank’s Bank Secrecy Act (BSA), anti-money laundering (AML), and Office of Foreign Asset Control (OFAC) program. The ideal candidate will have 2-4 years of relevant experience in a financial institution, with a strong understanding of AML processes and procedures. Candidate should possess strong written and verbal communication skills.

This is a fully onsite position and will require the candidate being at the bank’s main office in Salisbury, CT five days a week.

• Data validation of transaction monitoring system feeds.
• Assignment of alerts generated by monitoring system to BSA Analyst.
• Assist with review of investigations and decisioning for each alert in accordance with policies and procedures.

• Draft case investigation reports for activity that alerted in anti-money laundering monitoring software.
• Perform investigations referred by bank personnel for unusual activity and document investigative findings accordingly.
• Perform periodic due diligence reviews for high risk and moderate risk customers.

• Prepare required Suspicious Activity Reports (SARs) in an accurate and timely manner for filing.
• Assist with reviewing Currency Transaction Reports (CTRs) in the anti-money laundering monitoring system to ensure accurate and timely filing.
• Assist with screening, investigating, and decisioning 314a lists.

• Identification of new customers / accounts for onboarding reviews and 90-day tolerance reviews.
• Assignment of new customer / account reviews to BSA Analyst.
• Assist with verifying information provided by branch staff related to customer / account onboarding.

• Data validation of system feeds to OFAC screening system(s).
• Assist in investigating, identifying, and reporting matched suspects by reviewing OFAC reports in the monitoring system(s).

• Contribute to the development and maintenance of BSA/AML/OFAC policies and procedures.
• Stay updated on industry regulations and best practices to ensure bank compliance.

• Assist in providing training and support to bank staff on BSA/AML/OFAC policies, procedures, and compliance requirements.
• Act as a resource for employees regarding BSA-related inquiries.

• Participate in internal audits related to BSA compliance and assist in the implementation of corrective actions.
• Assist in the risk assessment process to identify potential vulnerabilities in bank operations.
• Clear and frequent engagement with the BSA Officer to communicate status of BSA responsibilities and concerns as they arise.
• Provide oversight of the BSA Analyst(s) to ensure completion of BSA responsibilities
• Work closely with other departments to ensure a cohesive approach to compliance.
• Engage with management to communicate findings and recommendations for improving compliance measures.

• Bachelor’s degree in finance, business administration, or a related field preferred.
• 2-4 years of experience in a BSA/AML/OFAC compliance role within a financial institution.
• Relevant certifications such as Certified Anti-Money Laundering Specialist (CAMS) or similar are preferred.
• Strong analytical skills and attention to detail.
• Familiarity with BSA/AML regulations and compliance requirements.
• Excellent written and verbal communication skills.
• Proficient in Microsoft Office Suite; experience with COCC (core system) and Abrigo’s BAM+ compliance monitoring software is a plus.
• Ability to work independently and collaboratively in a team environment.
• Ability and means to be onsite five days per week at the main office in Salisbury, CT.

• Competitive 401k
• Health Insurance
• Generous Paid Time Off (PTO) and Sick Leave
• Compensation Range: $52,000 - $62,000 based on job-related skills, experience, relevant training, and other factors.