Bank Secrecy Act (BSA) Specialist
About The Position
BANK SECRECY ACT (BSA) SPECIALIST HARRISONBURG DOWNTOWN PRIMARY RESPONSIBILITIES Primary Responsibilities include, but are not limited to: assist with the identification and prevention of money laundering and other suspicious activity and be responsible for assisting the Compliance Officer with compliance monitoring reviews and other special projects to measure and understand the state of Bank Secrecy Act regulatory compliance for the organization. Under general supervision of the Compliance Officer, review for suspicious activity both systems generated reports and escalated alerts from various business lines regarding consumer and business accounts. Assist in communication, investigation and dissemination of information concerning BSA regulatory requirements and AML policies. Conducts account research, review, and monitoring. The BSA Specialist will provide investigative support as directed by the compliance office regarding possible Suspicious Activity Report (SAR)/Currency Transaction Report (CTR) related to consumer and business transactions or other BSA requirements.
Requirements
- High School Diploma / GED or relevant work experience.
- Two to three years Banking experience required.
- Full understanding of BSA requirements related to the banking industry, including AML/BSA, OFAC, SAR, funds availability, information privacy, and various other banking laws and regulations
- Proficiency in banking systems and research software.
- Must have excellent analytical, investigative, and problem-solving skills.
- Ability to write routine correspondence and communicate effectively and tactfully, orally and in writing with employees, customers, vendors, and management.
- Be able to handle multitask situations.
- Excellent time management skills and be attentive to detail and possess good organizational skills
Responsibilities
- Reviews new records regularly to ensure compliance with our Customer Identification Policy (CIP) as defined within the BSA Program and communicates with branch employees to obtain and clear any exceptions for missing information.
- Completes record of CIP Exception Errors and communicates errors to Compliance Officer.
- Reviews various reports and alerts generated for anti-money laundering (AML) en hanced due diligence and risk rating. Clear any exceptions and make SAR referrals for any items that are suspicious and may need reporting.
- Reviews ACH and OFAC hits/suspects as identified in periodic OFAC search or core systems and ACH files.
- Reviews Large Cash Transaction Reports daily to ensure currency transaction reports are completed properly for all reportable transactions and that they are submitted timely via BSA e-filing and proper documentation is retained.
- Ensures all CTR's and SAR's are filed electronically within the proper timeframe.
- Assists with annual review of exempt customers and completion of review form required by the Internal Revenue Service (IRS).
- Conducts periodic searches of New Account (deposit & loan) relationships.
- Completes research required for USA Patriot Act Section 314(a) Information Requests.
- Reviews new account information for compliance with CIP.
- Communicates with employees and/or management to follow-up on questionable CIP items/exceptions.
- Maintains confidentiality of customer information by complying with the Privacy Policy.
- Performs other duties as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
