Responsibilities:
Lead the development, implementation, and administration of the BSA compliance program
Ensure adherence to BSA/AML regulations, the USA PATRIOT Act, FACT Act, and OFAC requirements.
Oversee the daily activities of the BSA Department.
Develop, update, and maintain the bank's BSA/AML/CIP/FACT/OFAC Policies and Risk Assessments, as needed, but at least annually.
Oversee the monitoring and analysis of transaction data to identify suspicious activities.
Advise senior management on compliance.
Serves as a primary point of contact for regulators, auditors and other stakeholders; support exam preparations; oversee remediation efforts
Prepare and submit regulatory reports, such as Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs).
Responsible for FinCEN 314(a) procedures, monitoring, and reporting and reviews FinCEN 314(b) and responds to inquiries accordingly.
Maintain comprehensive records of compliance activities.
Stay up to date with regulatory changes, industry trends and financial crime risk to ensure the institution's policies and procedures reflect current requirements.
Attend annual BSA/AML training.
Develop and implement risk mitigation strategies.
Manage relationships with critical BSA vendors for the purpose of enhancing/refining software.
Requirements:
Bachelor's degree in finance, business administration, Criminal Justice, or a related field.
Minimum of 5+ years of experience in BSA/AML compliance.
Strong knowledge of AML regulations, the USA PATRIOT Act, FACT Act, and OFAC requirements.
CAMS (Certified Anti-Money Laundering Specialist) certification strongly preferred.
Excellent analytical skills for monitoring and analyzing transaction data.
Effective communication skills for advising senior management and conducting training sessions.