The BSA/OFAC Officer is responsible for developing, implementing, administering, and monitoring all aspects of the Bank’s BSA/AML/OFAC Compliance Program. The individual is expected to be knowledgeable in all aspects of BSA/AML/OFAC. Directs BSA/AML/OFAC activities to ensure the organization’s banking activities meet all applicable regulatory requirements and standard industry practices.
Duties and Responsibilities
• Act as the Bank’s Bank Secrecy Act (BSA) Officer. Implement the necessary programs and procedures to ensure compliance with appropriate regulations and that the Bank is protecting itself from being used as a conduit for illegal activity.
• Act as the Bank’s Office of Foreign Assets Control (OFAC) Officer. Ensures that the Bank has procedures and systems in place to identify, block, and report those names on the government’s lists.
• Develop and maintain the Banks BSA/AML/OFAC policies and procedures.
• Prepare, monitor, and update the Bank’s overall Risk Assessment for BSA/AML and OFAC.
• Maintain processes and procedures necessary to comply with regulations.
• Responsible for ensuring filing of SARs are completed in accordance with policies and procedures.
• Approve all waived and confirmed suspicious activity cases and resulting SARs.
• Responsible for the Bank’s CIP program.
• Overall responsibility for the BSA/AML/Fraud BAM+ software.
• Complete and file required regulatory reports within prescribed deadlines.
• Assist in preparation for internal audit reviews and regulatory examinations.
• Respond to audit and examination findings and take appropriate actions to ensure that any deficiencies are remediated.
• Implement quality control practices and procedures, automation, and process improvements.
• Advises Compliance Manager of emerging compliance issues and consult on the establishment of controls to mitigate risks.
• Knowledgeable of Bank products and services. • Other duties as assigned. Qualifications Minimum qualifications are required to successfully perform the job. These are the qualifications that are necessary for someone to be considered for the position. Required Qualifications
• High School Diploma or equivalent
• Bachelor’s degree in Business, Finance, or related field
• Three to five years of regulatory experience in a financial institution, with strong emphasis on BSA, AML and OFAC
• Experience operating Windows based PC.
• Experience with Microsoft Applications including Word, Excel, and Outlook.
• Experience with general office equipment such as copier, scanner, fax, 10-key, filing systems.
• Proficient knowledge of basic addition and subtraction. Preferred Qualifications
• Additional BSA related training/certification preferred
• Strong knowledge of Abrigo BAM+ software preferred
• Comprehensive knowledge of BSA/AML and OFAC requirements.
• Strong analytical, research and problem solving, skills with the ability to analyze large amounts of data.
• Highly motivated, results-oriented individual who can work independently under minimal supervision with an attention to detail and accuracy.
• Strong interpersonal skills and a balanced perspective.
• Strong organizational and time management skills.
• Exercises sound judgment.
• Excellent verbal and written communication skills with the ability to summarize and present findings in a clear and concise manner.
• Ability to manage numerous tasks and sensitive information in a professional manner in a fast-paced deadline driven environment.
• Thorough understanding of all products and services, features and benefits as well as associated procedural details.
• Being a Team player that is considerate of other employees Working Conditions
• Work is conducted during day shift hours in an indoor temperature-controlled office. Physical Requirements
• Ability to clearly speak, hear, see, and communicate with customers and co-workers.
• Ability to stand or sit for extended periods of time. • Ability to perform repetitive finger, hand, and arm movements.
• Ability to kneel, reach, bend, push, pull, and carry items up to 30 pounds.
Every employee of Bank is expected to adhere to the Bank’s cultural tenants, which are: Acceptance of Change, Commitment, Values, Celebration to Support Values, Concern for People, Open and Honest Communication, Conflict Resolution, Outstanding Customer Service, Pride, and Teamwork. Direct Reports Positions to be supervised by this position.
• Manage, coach, evaluate and develop BSA Department staff
• Track performance and development of Department through training, coaching, and regular evaluations.
*** Job descriptions will be reviewed annually and updated as often as necessary. **