Bank Secrecy Act Specialist II

First American Bank•Elk Grove Village, IL

13d•$29 - $33•Onsite

About The Position

The Bank Secrecy Act Specialist II is responsible for analyzing, investigating, and documenting suspicious activity, conducting Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) reviews, and preparing required regulatory filings, including SARs and information‑sharing requests, in compliance with BSA/Anti Money Laundering (AML) and Office of Foreign Assets Control (OFAC) requirements and department procedures. This non-exempt (hourly) role also supports quality assurance, systems and process improvements, procedures maintenance, and mentoring of less‑experienced investigators while meeting established productivity, quality, and compliance standards.

Requirements

High school diploma or equivalent required.
Minimum of two years of progressive experience in banking, accounting, bookkeeping, or BSA/AML related functions required.
Ability to remain current on emerging risks and updates to BSA‑related laws, regulations, and agency guidance.
Qualified military veterans are encouraged to apply.
Must be professional, comfortable speaking with external and internal contacts with a demonstrated ability to tailor the message appropriately to the audience and situation effectively.
Demonstrated ability to convey thoughts and ideas effectively and succinctly via written formats, including emails, letters, and electronic platforms. Maintain professional standards relating to spelling and grammar.
Maintain credibility through professional demeanor, appearance, and presence by modeling standards appropriate to our environment and industry.
Maintain good working relationships with internal partners by exhibiting exemplary interpersonal skills, adopting a constructive, solutions-focused approach.
Use sound professional judgment to balance the interests of the organization and customer, understanding and using available resources to mitigate risks.
The position requires the individual to clearly communicate with internal and external customers.
Proficiency with Microsoft 365 products and applications, including the ability to effectively prepare or review documents, procedures, and reports.
Be proficient with or have the ability to learn Copilot including agentic AI.
Demonstrated ability to learn new systems and applications, as well as the ability to understand, adapt and adjust responsibilities/workflows as a result of system upgrades.
Punctuality is required to maintain First American Bank’s customer service standards.

Nice To Haves

Bachelor’s degree or law enforcement background preferred.
Advanced knowledge of OFAC sanctions compliance preferred.
Bilingual in English and Spanish is preferred.

Responsibilities

Analyze, review, and document suspicious activity alerts and referrals; evaluate and escalate cases in accordance with Suspicious Activity Monitoring procedures.
Perform Customer Due Diligence (CDD) in accordance with established policies and procedures, which may include communication with account officers, relationship managers, and/or customers via phone or email.
Conduct Enhanced Due Diligence (EDD) reviews for higher-risk customers and business types as assigned.
Draft Suspicious Activity Reports (SARs) and submit filings as directed and in compliance with regulatory requirements, and file when so instructed.
Provide backup support for non–BSA team functions as requested.
Review and research potential Office of Foreign Assets Control (OFAC) and other regulatory list screening matches as assigned.
Perform assigned system maintenance activities, including reconciling unprocessed items and assigning cases.
Process Section 314(a) and 314(b) information‑sharing requests in accordance with regulatory requirements.
Serve as a member or chair of assigned committees and actively participate in meetings as required.
Monitor relevant procedural and regulatory updates and provide revision recommendations to management to maintain accurate, complete, and compliant policies and procedures.
Identify and recommend process efficiency improvements with consideration for operational resources and risk exposure.
Perform quality assurance reviews and reconciliations and prepare related management reports.
Lead or assist with systems and process testing initiatives, as needed.
Independently manage required administrative responsibilities, including timekeeping and completion of mandatory training.
Meet or exceed established productivity and quality performance standards.
Actively participate in team meetings, initiatives, and department events.
Serve as a mentor, trainer, and subject‑matter resource for less‑experienced investigators.
Complete additional duties, special projects, or assignments as directed by management.