Bank Secrecy Act (BSA) Officer

Midwest Bank•Norfolk, NE

About The Position

Midwest Bank is seeking an experienced and highly motivated Bank Secrecy Act (BSA) Officer to lead and oversee its BSA/AML compliance program. The role serves as the bank’s subject matter expert in financial crime prevention, regulatory compliance, anti-money laundering efforts, and fraud risk mitigation. The BSA Officer oversees and administers the bank’s BSA, AML, CFT, CIP, CDD, EDD, and OFAC compliance programs; monitors regulatory requirements; assesses program risks; investigates suspicious activity; and supports regulatory examinations and audits. The role also provides reporting and training, and advises employees on compliance concerns and suspicious activity reporting. The position offers the opportunity to work collaboratively across banking operations, compliance, fraud prevention, and customer service, and to contribute to continuous improvement initiatives. Midwest Bank describes its environment as collaborative and supportive and offers an excellent benefits package.

Requirements

Five or more years of banking, compliance, audit, risk management, or BSA/AML experience.
Experience managing a BSA/AML compliance program within a financial institution.
Strong knowledge of the Bank Secrecy Act (BSA).
Strong knowledge of anti-money laundering (AML) regulations.
Strong knowledge of USA PATRIOT Act requirements.
Strong knowledge of Customer Identification Program (CIP) requirements.
Strong knowledge of Customer Due Diligence (CDD).
Strong knowledge of beneficial ownership requirements.
Strong knowledge of Office of Foreign Assets Control (OFAC) regulations.
Knowledge of community banking operations.
Exceptional communication, organizational, and analytical skills.
Ability to interpret complex regulations and communicate requirements throughout the organization.
High level of integrity, professionalism, and confidentiality.
Proficiency with Microsoft Office products.

Nice To Haves

Knowledge of investments and related banking services.

Responsibilities

Oversee and administer the Bank's BSA, AML, CFT, CIP, CDD, EDD, and OFAC compliance programs.
Monitor regulatory requirements and ensure compliance with applicable laws and guidance.
Conduct and document BSA/AML risk assessments and recommend program enhancements.
Review and investigate suspicious activity alerts and determine SAR filing requirements.
Prepare and review Currency Transaction Reports (CTRs).
Perform customer due diligence and enhanced due diligence reviews.
Monitor high-risk customer relationships and account activity.
Coordinate regulatory examinations, audits, and responses to examiner requests.
Provide regular reporting to senior management and the Board of Directors.
Develop and deliver employee BSA/AML/OFAC training programs.
Serve as a resource for employees regarding compliance concerns and suspicious activity reporting.
Identify emerging financial crime risks and recommend mitigation strategies.