BSA Officer

Hoyne•Palos Heights, IL

2d•$75,000 - $90,000•Onsite

About The Position

The BSA Officer is responsible for designing, implementing, and maintaining a comprehensive BSA/AML/CFT and OFAC compliance program in accordance with regulatory requirements. This includes overseeing enhanced due diligence, developing policies and procedures, conducting risk assessments, managing regulatory examinations, and leading the BSA/AML team. The role requires strong analytical, problem-solving, and communication skills, as well as a deep understanding of banking regulations.

Requirements

Bachelor’s degree preferred or equivalent work experience.
CAMS, CFE, CRCM, or equivalent certifications.
Minimum 3–5 years BSA/AML/CFT and OFAC experience and knowledge of regulatory requirements.
Knowledge and understanding of BSA/AML/CFT and OFAC regulation and requirements.
Knowledge of banking products, operations, and compliance standards.
Knowledge of federal and state laws and regulations related to FinCen, BSA/AML/CFT, OFAC and CIP requirements.
Financial services, lending and retail banking experience.
Strong analytical, critical thinking, research skills.
Proficient with review and analysis of data, problem resolution and identification of trends.
Strong business acumen, written and verbal communication skills.
Strong leadership and interpersonal skills.
Proficiency with Microsoft Office Suite products, industry related tools and software.

Nice To Haves

Bachelor's degree

Responsibilities

Design, implement, and maintain a comprehensive BSA/AML/CFT and OFAC compliance program in accordance with BSA/AML, USA PATRIOT Act, OFAC, and FinCEN regulatory requirements and guidance.
Ensure the program meets the four pillars of BSA/AML compliance.
Completion and maintenance of Enhanced Due Diligence (EDD) matters, OFAC regulations, USA Patriot Act.
Develop and maintain BSA/AML/CFT and OFAC policies, procedures, and internal controls.
Prepare and execute the enterprise-wide BSA/AML/CFT and OFAC risk assessments, including data analysis, coverage assessment, product, customer, and geographic risk alignment, methodology and application.
Completion of Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) reviews as required.
Oversee the Customer Identification Program (CIP) and ensure required information and documentation is properly collected and retained in compliance with regulatory requirements.
Timely filing of CTR’s and SAR’s.
Ensure compliance with 314(a) and 314 (b) USA Patriot Act responsibilities.
Manage detailed work, problem solving, judgement, reasoning, verbal communication, written communication, analytical reasoning and concurrent tasks.
Ensure compliance with OFAC regulations, including screening, blocking, reporting, and recordkeeping requirements.
Oversee OFAC sanctions screening programs for customers, transactions, and vendors and provide sanctions guidance to business lines and senior leadership.
Serve as the primary liaison with federal and state regulators, internal and external auditors for all BSA/AML/CFT and matters.
Manage regulatory examinations, audits, document requests and inquiries; coordinate responses, remediation plans, and issue resolution.
Monitor and interpret regulatory changes and emerging risks to ensure the BSA/AML, CFT and OFAC programs for the bank remain compliant.
Oversee account transaction monitoring, review and decisioning of alerts and manual monitoring of higher risk accounts.
Oversee transaction monitoring systems, model governance, and tuning to ensure effective detection of suspicious activity.
Ensure timely, accurate, and complete filing of Suspicious Activity Reports (SARs), Currency Transaction Reports (CTRs), FinCEN 314(a) reporting and other required regulatory filings.
Conduct BSA/AML investigations as needed and document results in written report narrative.
Determine and provide escalation decision-making and risk-based judgment for complex or high-risk cases.
Lead, mentor, and develop BSA/AML staff, including managers, investigators, analysts, and quality assurance personnel.
Advise executive management and the Board of Directors on BSA/AML risk, program performance, and remediation efforts.
Participate in new product approval, customer risk acceptance, and strategic initiatives to assess AML impacts.
Prepare and present BSA/AML reports to Senior Management and the Board, including risk metrics, SAR trends, and program effectiveness.
Ensure appropriate management information systems (MIS) and data governance are in place.