BSA Officer

Description

Join our dynamic team as a BSA Officer and play a vital role in safeguarding our financial institution by ensuring full compliance with all relevant regulations related to financial crimes prevention. This is an exciting opportunity for a detail-oriented professional to lead our Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) compliance programs. You will be instrumental in maintaining the integrity of our operations while supporting our commitment to a secure and compliant banking environment.

• Manage and maintain the Bank’s BSA/AML and OFAC compliance programs in accordance with regulatory requirements.
• Monitor the Bank’s performance under BSA laws and provide regular reporting to senior management and the Board of Directors.
• Develop, implement, and update BSA/AML policies, procedures, and internal controls to reflect regulatory changes and emerging risks.
• Conduct and document the annual BSA/AML risk assessment.
• Serve as the primary liaison with regulators and external auditors during examinations and audits.
• Coordinate corrective action and remediation efforts resulting from audits or regulatory findings.

• Oversee the monitoring, investigation, and resolution of alerts generated by BSA/AML monitoring software (e.g., Verafin or similar systems).
• Conduct detailed research and analysis of customer transactions, behaviors, and account activity to identify unusual or suspicious activity.
• Ensure timely and accurate filing of Suspicious Activity Reports (SARs) and maintain appropriate supporting documentation.
• Maintain thorough case documentation, ensuring investigations meet regulatory standards and internal timelines.
• Escalate significant issues, trends, or risks to executive management as appropriate.

• Oversee the end-to-end Currency Transaction Report (CTR) process, ensuring accurate and timely filing.
• Conduct and document annual CTR exemption reviews to ensure compliance with regulatory requirements.
• Provide guidance and support to branch personnel regarding CTR completion and reporting requirements.
• Monitor CTR reporting trends and identify opportunities for improved accuracy and efficiency.

• Perform ongoing quality assurance and quality control reviews of BSA/AML processes, investigations, and reporting.
• Ensure actual practices align with established policies, procedures, and regulatory expectations.
• Identify process gaps or control weaknesses and implement enhancements to strengthen compliance efforts.
• Prepare reports summarizing monitoring results, trends, and identified risks.

• Develop and deliver BSA/AML and OFAC training for all employees on at least an annual basis.
• Provide targeted training to higher-risk departments, including retail, lending, and operations.
• Stay current on regulatory changes, emerging financial crime trends, and industry best practices.
• Communicate regulatory updates and procedural changes to appropriate stakeholders.

• Collaborate with internal departments to gather documentation and information necessary to support investigations and compliance efforts.
• Partner with Fraud, Compliance, Retail, and Lending teams to mitigate financial crime risks.
• Assist in maintaining strong internal controls designed to detect and prevent money laundering, terrorist financing, and other illicit activities.
• Support enterprise-wide risk management initiatives related to financial crimes compliance.

• Participates in internal/external training as appropriate.
• Participates in community involvement/bank activities as appropriate.
• Perform all other duties as assigned or requested.

• Associate degree in Accounting, Finance, or similar designation and/or three to five years equivalent work experience in a similar position required
• Previous experience in banking or financial institution setting and/or compliance required
• Detailed knowledge of regulatory/compliance laws that govern the banking industry.
• Strong working…