BSA Operations Supervisor Job Middletown area,New York USA,Finance & Banking

BSA/AML Operations Supervisor

The BSA/AML Operations Supervisor is responsible for overseeing daily AML compliance functions, managing the BSA team to ensure timely filing of SARs/CTRs, adherence to regulations, and high-quality investigation of suspicious activity. They will optimize processes, provide training, and act as a liaison between staff and management.

Essential Duties And

Job Responsibilities

Supervise, train, and develop the team, ensuring high performance.

Monitor daily AML transaction monitoring, alert investigations, Enhanced Due Diligence (EDD), and Currency Transaction Reports (CTR).

Act as backup to BSA Officer in their absence.

Monitor, investigate, and answer the BSA/AML Monitoring software alerts to uncover money laundering and other illicit schemes and create cases when necessary.

Conduct investigations as a result of accounts identified through analysis or in response to reports of unusual activity.

Collaborate with company personnel regarding interactions with customers to aid in investigations.

Conduct timely and thorough reviews of potentially suspicious activity through case management

Escalate suspicious activity cases to the attention of the BSA Officer

Review Currency Transaction Reports (CTR's) for compliance; file on a timely basis; address errors with bank personnel.

Conduct Enhanced Due Diligence (EDD) reviews on new and existing High Risk Customers.

Ensure that proper risk ratings are assigned to customers and are accurately reflected in the BSA/AML Monitoring Software.

Conduct internal audit and regulatory examinations; ensure appropriate documentation is maintained and available and findings are addressed and corrected in a timely manner.

Participate in and make recommendations with respect to the decision process for reporting suspicious activity to FinCEN.

Coordinate the periodic validation of BSA systems.

Update all bank department and trust department employees regarding all BSA regulatory additions and changes affecting daily departmental operations, procedures, and/or programs.

Ensure BSA recordkeeping and reporting requirements are processed in accordance with established guidelines and regulation timelines.

Ensure appropriate documentation is maintained and available for internal/external audits and legal requests

Maintain Compliance With OFAC Related Laws, Regulations, And Acts

Inform bank personnel with potential OFAC matches and conduct necessary research to ensure OFAC compliance.

Ensure that the OFAC reviews are conducted appropriately and in a timely manner.

File the appropriate OFAC Annual Report of Blocked Property when warranted.

Maintain Compliance With 314a & 314b Regulations

Investigate possible matches or requests generated by the BSA/AML monitoring software.

Provide notice to FinCEN annually that we are participating in 314b information sharing as required.

Customer Information Procedures (CIP)

Review all new accounts for proper account opening documents, identification, and anticipated activity

Follow–up and work with Branch managers to resolve any irregularities that come from newly opened accounts identified by CIP review.

Maintain Policies And Procedures

Update policies and procedures to ensure compliance with BSA OFAC regulations, including customer and enhanced due diligence requirements.

Recommend policy changes as necessary to the BSA Officer.

Training

Cross train on other department functions to be able to provide support if needed.

Perform all duties and projects as assigned by management.

Other Responsibilities

Confidentiality

All information handled is highly confidential.

Mental Application

This position relies on established laws and regulations to make judgments. Must be able to read and interpret those laws and regulations.

Responsibilities

Civil monetary penalties could be extensive and goodwill is a risk.

Contacts/Internal And Public

Direct contact with bank personnel, as well as state and federal examiners.

Education, Certification,

Experience:

Education:

Required:

Two-year banking, business, or law related degree (or equivalent job-related compliance experience).

Preferred:
Bachelor's degree

Experience:

Required:

5 - 7 years direct regulatory compliance…