BSA/AML Compliance Officer, South Bend, IN

1st Source•South Bend, IN

14h

About The Position

POSITION SUMMARY Responsible for developing, implementing, and administering all aspects of the bank’s BSA compliance program. This includes ensuring compliance with the BSA, anti-money laundering (AML) regulations, and Office of Foreign Assets Control (OFAC) requirements. The BSA Officer will oversee the bank's efforts to detect and prevent money laundering, terrorist financing, and other illicit activities. ESSENTIAL REQUIREMENTS Develops, implements, and maintains the bank’s BSA/AML/OFAC compliance program. Ensures the program is up-to-date with current regulations and industry best practices. Creates, maintains and revises BSA/AML/OFAC policies, procedures and training materials.as needed. Leads, directs and supervises assigned staff and exercise the usual authority of a manager concerning staffing, performance appraisals, promotions, salary recommendations, and terminations. Oversees transaction monitoring and suspicious activity reporting (SAR) processes. Reviews and analyzes transactions for potential money laundering and other suspicious activities. Files SARs and CTRs with the Financial Crimes Enforcement Network (FinCEN) as required. Reports on BSA/AML/OFAC activities to senior management and the Board of Directors so that they can make informed decisions about existing risk exposure and the overall effectiveness of the bank’s compliance program. Develops and conducts BSA/AML/OFAC training programs for all bank employees Conducts and documents annual BSA/AML/OFAC risk assessments by identifying, assessing, and mitigate risks related to money laundering and terrorist financing. Coordinates and prepares for BSA/AML/OFAC audits and regulatory examinations. Responds to audit and examination findings, implement and monitor corrective actions, as necessary. Works closely with other departments within the bank to ensure comprehensive BSA compliance. Serves as a liaison with regulatory agencies and law enforcement for BSA-related requests. Ensures proper record-keeping of all BSA/AML/OFAC activities, report, suspicious activity investigations and outcomes. Responsible for the completion of all compliance training related to the position. Must understand all applicable laws and regulations that apply to the position and comply with the requirements. NON-ESSENTIAL FUNCTIONS Performs all other duties as assigned.

Requirements

Five (5) or more years of experience in BSA/AML/OFAC compliance management preferred.
Ten (10) or more years of experience in Financial Services preferred.
Proven record of successfully managing BSA/AML/OFAC compliance programs.
Strong knowledge of Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC) regulations.
Knowledge of Verafin Case Management preferred.
Strong PC skills--proficiency in Microsoft Word and Excel essential.
Strong organizational, problem solving, audit and analytical skills.
Ability to handle multiple tasks in a fast-paced environment.
Ability to communicate effectively both verbally and in writing.
Ability to protect the confidentiality/privacy of others as appropriate, as well as of company documents and records.
Must have a high level of professionalism.
Bachelor’s degree preferred.
Master’s degree or Juris Doctor preferred.
Certified BSA/AML Professional (CBAP), ACAMS Certified Anti-Money Laundering Specialist (CAMS), Certified Regulatory Compliance Manager (CRCM), Certified Community Bank Compliance Officer (CCBCO), Certified Community Bank Internal Auditor (CCBIA), Certified AML and Fraud Professional (CAFP), Certified Enterprise Risk Professional (CERP).
Ability to travel to all locations as well as ability to travel over night, as needed for meetings, projects, seminars, etc.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals to perform the essential functions. While performing the duties of this job, the employee is required to sit, stand and walk; use hands and fingers to operate keyboard and other office equipment; reach with hands and arms; and talk or hear. The employee is occasionally required to stoop or kneel. The employee may occasionally lift and/or move up to 10 pounds.
MS Office PC, fax, phone and standard office equipment.

Responsibilities

Develops, implements, and maintains the bank’s BSA/AML/OFAC compliance program.
Ensures the program is up-to-date with current regulations and industry best practices.
Creates, maintains and revises BSA/AML/OFAC policies, procedures and training materials.as needed.
Leads, directs and supervises assigned staff and exercise the usual authority of a manager concerning staffing, performance appraisals, promotions, salary recommendations, and terminations.
Oversees transaction monitoring and suspicious activity reporting (SAR) processes.
Reviews and analyzes transactions for potential money laundering and other suspicious activities.
Files SARs and CTRs with the Financial Crimes Enforcement Network (FinCEN) as required.
Reports on BSA/AML/OFAC activities to senior management and the Board of Directors so that they can make informed decisions about existing risk exposure and the overall effectiveness of the bank’s compliance program.
Develops and conducts BSA/AML/OFAC training programs for all bank employees
Conducts and documents annual BSA/AML/OFAC risk assessments by identifying, assessing, and mitigate risks related to money laundering and terrorist financing.
Coordinates and prepares for BSA/AML/OFAC audits and regulatory examinations.
Responds to audit and examination findings, implement and monitor corrective actions, as necessary.
Works closely with other departments within the bank to ensure comprehensive BSA compliance.
Serves as a liaison with regulatory agencies and law enforcement for BSA-related requests.
Ensures proper record-keeping of all BSA/AML/OFAC activities, report, suspicious activity investigations and outcomes.
Responsible for the completion of all compliance training related to the position.
Must understand all applicable laws and regulations that apply to the position and comply with the requirements.