BSA/OFAC Quality Control Specialist

Banc of California • Santa Ana, CA

1d

About The Position

The BSA/OFAC Quality Control Specialist performs quality control reviews of the Bank’s Financial Crimes Enforcement Network (FinCEN) reporting, including Suspicious Activity Reports, Currency Transaction Reports, and Designation of Exempt Person Reports. The role also reviews work products from AML and OFAC Operations, Know Your Customer reviews, and first-level OFAC dispositions completed by other business units. It ensures regulatory reports are accurate, complete, timely, supported by case files and workpapers, and reconciled with Bank data. The Specialist documents technical errors, provides timely feedback to management, and reviews additional regulatory filings using knowledge of applicable FinCEN filing requirements. Duties are performed in accordance with Company policies and procedures and applicable U.S. state and federal laws and regulations.

The role contributes to regulatory-reporting quality, supports management and Board-level reporting, and helps develop the quality control program. The Specialist communicates issues and trends, provides constructive feedback on analyst work, stays current on BSA/AML, fraud, and sanctions developments, and may perform other duties and projects as assigned.

Requirements

• A minimum of four to five years of quality control, testing, audit, or examination experience within a BSA/AML/OFAC department.
• Work experience in a financial institution, public accounting firm, or forensic accounting firm, with job-specific technical experience in AML.
• Strong knowledge of FinCEN reporting requirements.
• Business knowledge and understanding of financial products.
• Ability to understand and review conclusions from underlying research.
• Intermediate proficiency with personal computers and Microsoft Office applications, including Word, Excel, PowerPoint, and Outlook.
• Intermediate mathematical skills, including calculating interest and percentages; balancing accounts; performing arithmetic with whole numbers, common fractions, and decimals; locating routine mathematical errors; computing rates, ratios, and percentages; and drafting and interpreting bar graphs.
• Effective organizational and time-management skills.
• Exceptional oral, written, and interpersonal communication skills.
• Ability to make decisions with a moderate impact on the immediate work unit and cross-functional departments.
• Ability to organize and prioritize short-term and long-term work schedules.
• Ability to provide consultation and expert advice to management.
• Ability to deliver informal and formal presentations inside and outside the organization, including to assigned teams or other groups as needed.
• Ability to address complex and difficult problems involving multiple facets and variables in non-standardized situations.
• Ability to perform duties with little to no supervision.
• High school diploma or equivalent required.

Responsibilities

• Perform timely quality control reviews of Bank reporting to FinCEN and other regulatory agencies, and document reviews according to internal procedures.
• Stay current on changes to FinCEN reporting requirements and recommend updates to Technical Quality Control Procedures and Checklists when requirements change.
• Technically review underlying customer transactions related to FinCEN reports and reconcile data with the Bank’s core system, AML transaction monitoring system, and other applicable systems.
• Verify that reportable events and activity are appropriately identified on FinCEN reports and supported by the underlying case files or workpapers.
• Immediately escalate matters requiring additional follow-up or investigation to management.
• Review Know Your Customer reviews, transaction monitoring alerts and cases, OFAC alerts, and AML screening alerts—including negative news, politically exposed persons, and Section 314(a) alerts—to ensure dispositions are supported and reviews follow applicable procedures.
• Maintain a detailed understanding of the computer systems used to perform and document technical quality control reviews.
• Communicate FinCEN reporting issues and trends to management.
• Provide management with regular, constructive quality-related feedback concerning analyst work performance.
• Assist with reporting quality control results for management and Board-level reporting.
• Assist with further development of the quality control program and recommend effective procedures as requested.
• Stay abreast of BSA/AML, fraud scheme, and sanctions developments.
• Follow established policies and procedures.
• Perform other duties and projects as assigned.

Benefits

• 401(k) plan with company match and immediate vesting.
• Medical, dental, vision, AD&D, supplemental life, and long-term disability insurance.
• Pre-tax Health Savings Account with employer contributions and pre-tax Flexible Spending Account.
• Adoption, surrogacy, and fertility assistance.
• Paid parental leave and family support solutions, including care options for family members.
• Paid vacation days, holidays, and volunteer time off for eligible team members.
• Tuition reimbursement.
• Annual mentorship program and leadership development resources.
• Access to LinkedIn Learning.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED