BSA​/Compliance Officer

Job Summary

The Bank Secrecy Act and Compliance Officer (BSACO) is responsible for developing, implementing and administering all aspects of the Bank Secrecy Act (BSA) Compliance Program by performing various quality control reviews and monitoring in the area of BSA, USA Patriot Act, Anti-Money Laundering (AML)/Countering the Financing of Terrorism (CFT), Office of Foreign Assets Control (OFAC), and Customer Identification Program (CIP) compliance.

The BSACO is also responsible for development and administration of the Bank Community Reinvestment Act (CRA) Compliance Program and other applicable Compliance Management programs. The BSACO is responsible for advising the Board of Directors, Senior Management and other applicable Bank personnel of emerging compliance issues and guidance related to mitigation controls for identified risks. The BSACO may also engage in efforts to establish and maintain relationships with community-based, charitable and non‑profit organizations.

• Develops, implements, and administers all aspects of the BSA Compliance Program by performing various quality control reviews and monitoring in the area of BSA, USA Patriot Act, AML/CFT, OFAC, and CIP compliance.
• Develops, implements, and administers all aspects of the Bank’s Compliance Management Program and performs duties as the Bank’s Compliance Committee chairperson; makes recommendations to the Board of Directors and Senior Management of emerging compliance issues when appropriate; and consults and guides the Bank in the establishment of controls to mitigate risks; and submits annual reports to the Board of Directors detailing compliance issues.
• Utilizes industry standards and applicable regulatory guidance sampling methods to ensure the Bank’s compliance efforts are maintained on a daily basis.
• Assists independent, state, and federal regulator/auditor inquiries.
• Serves as liaison between Bank personnel and law enforcement authorities when responding to robberies or other crimes, administers security devices and settings at all Bank facilities; identifies, analyzes and controls existing and potential safety hazards; and provides security and safety training, support and guidance to all Bank personnel. Manages risk assessments regarding compliance program in conjunction with compliance consultant. Manages relationship with 3rd part consultants.
• Develops, implements, and administers all aspects of the CRA Compliance Program by establishing, participating, and maintaining relationships with community-based, charitable, and non‑profit organizations; and writes CRA‑related policies, procedures and processes, including the Bank’s strategic plan.
• Advises the CEO & Audit Committee of bank personnel compliance issues and makes recommendations for controls to mitigate risks.
• Creates/maintains an adequate and effective Enterprise Risk Management (ERM) program thus ensuring the Bank is in full compliance with all banking laws, rules, regulations, and internal policies, procedures and processes; and promotes risk and regulatory compliance by identifying, quantifying, reviewing, evaluating, and measuring risk to ensure that all risk categories are identified and managed in accordance with regulatory compliance and audit requirements, approved risk tolerance, risk appetite and strategic plans approved by the Risk Committee.
• Reviews and writes BSA, AML/CFT, OFAC, and CIP related policies and procedures; makes recommendations to the Executive Management when and where appropriate; and is required to submit annual reports to the Board of Directors detailing BSA or other compliance issues.
• Maintains proficient knowledge of the rules and regulations, including but not limited to, the BSA, USA Patriot Act, OFAC, CRA, and Home Mortgage Disclosure Act.
• Performs daily review, monitoring and analysis of various reports, logs and transaction data to identify trends, unusual activity and monitor large currency activity; determines if transactions are suspicious in nature, such as kiting, significant changes in balances, cash structuring in deposits, loans payments and certificate of deposit purchases, wire or ACH transfers, monetary…