VP BSA & Fraud Officer

OFFICER Exempt-VP, SVP, EVP, CEO Admin CEO/EVP/SVP/VP Taunton, MA, US

Salary Range: $ To $ Annually

The VP, BSA & Fraud Officer develops, implements, administers, and maintains the Bank’s Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC), and Fraud Risk programs in compliance with applicable laws and regulations. This role provides strategic oversight of financial crimes prevention, detection, investigations, and regulatory compliance efforts to protect the organization from financial, operational, and regulatory risk, while helping mitigate potential fraud losses to the Bank and its customers.

The VP leads the development, implementation, and ongoing administration of policies, procedures, monitoring systems, investigations, and reporting processes related to BSA/AML and fraud.

• Performs all functions necessary, within scope of authority and expertise, to provide the highest level of compliance with the provisions identified within the Bank Secrecy Act.
• Reviews and continually maintains the Bank’s BSA/AML/OFAC policy, procedures, and administration of the program. Creates and provides BSA/AML/OFAC training to Bank Personnel and Board Members at least annually.
• Maintains oversight of BSA/AML/OFAC compliance for all Bank affiliates. Assists delegates of affiliate companies in the implementation and administration of BSA/AML/OFAC programs.
• Facilitates State and Federal examinations as well as Internal and External audits of the BSA function and coordinates the response to requests for information as required. Responds to examination and audit findings and ensures corrective action of any deficiencies noted in a timely manner.
• Performs a BSA/OFAC/AML Risk Assessment, at least annually, in accordance with BSA/AML/OFAC laws and regulations.
• Ensures timely and accurate submission of regulatory reporting, including the Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs).
• Addresses regulatory changes that impact the Bank’s business lines and collaborates with internal and external resources to ensure continued regulatory compliance when implementing new products, services, and customers to ensure BSA/AML/OFAC risks are identified and monitored.
• Serves as the Bank’s liaison for 314a compliance.
• Provides recurring reporting to Executive Management and subcommittees of the Board of Directors on BSA related activities, operational metrics and initiatives as applicable.
• Serves as the administrator for the Bank’s automated BSA/AML/OFAC solution. Maintains user access to the solution in accordance with Bank Policy.
• Maintains proficient knowledge of the rules and regulations, including but not limited to, the Bank Secrecy Act (BSA), USA Patriot Act, OFAC, Regulation GG, Elder Financial Exploitation, and Corporate Account Takeover.
• Assists in the development, maintenance, communication and internal training on the Bank’s Fraud Management program including the related policies and applicable standards.
• Supports time-sensitive investigations of potentially fraudulent activity generated through transaction monitoring alerts and/or internal referrals. Escalates applicable activity to the necessary internal teams and management as needed.
• Serves as the liaison to law enforcement agencies, including but not limited to Police, FBI, and/or Secret Service, attending applicable court proceedings, and any other tasks relating to fraud.
• Assists in the evaluation of operational risks that could expose the Bank to fraud and makes recommendations for continuous improvements to the Bank’s internal controls, processes or procedures to further mitigate fraud risk.
• Oversees and coordinates internal actions and escalation in response to Vulnerable Customer Financial Exploitation as defined by Bank policy and procedure; serves as the primary contact to the Bank’s internal Financial Exploitation Team and assists with reporting suspected and confirmed cases of exploitation to their applicable agencies as appropriate.

• Oversight of Debit/ATM Card Dispute processing in accordance with Regulation…