BSA Officer

Plains Commerce Bank • Sioux Falls, SD

2d

About The Position

The BSA Officer is responsible for ensuring Plains Commerce Bank’s policies and procedures comply with applicable laws and regulations. The role analyzes new and pending regulations that may affect the Bank’s practices, develops and revises policies and procedures, helps prevent fraud loss, and keeps affected areas of the Bank informed of changes so they can be implemented appropriately.

The position establishes and maintains processes for investigating, reviewing, and reporting suspicious activity; monitors monetary instrument reports; conducts risk assessments; and ensures required regulatory reporting is completed accurately and on time. The BSA Officer also serves as the point of contact for BSA examinations and internal and external audits, and maintains customer due diligence and enhanced due diligence risk-rating and monitoring programs.

The Bank offers a competitive benefits package that includes medical, dental, and vision coverage; flexible spending or dependent care options; supplemental accident, hospital, or critical illness plans; employer-paid life insurance and short- and long-term disability; voluntary life insurance; paid vacation, sick, and volunteer leave; a 401(k) and profit sharing; and discounted banking and mortgage services, fee waivers, and access to special financial products. Compensation depends on the position and may include hourly wages, overtime, salary, commissions, or bonuses.

Requirements

• Bachelor of Science degree, preferably with a business major, or an advanced degree in a related field.
• At least 5 years of prior financial institution BSA compliance experience developing and implementing BSA/AML/OFAC policies, programs, and procedures.
• Knowledge of bank regulatory compliance policies and procedures, legal requirements, and controls.
• Ability to read and interpret federal regulations, including the Bank Secrecy Act.
• Strong analytical, research, and problem-solving skills, with attention to detail and accuracy.
• Effective communication and interpersonal skills.
• Ability to work collaboratively in a team environment.
• General PC knowledge, including MS Word, Excel, and the internet.
• Ability to maintain a high level of confidentiality and ethical standards.

Nice To Haves

• CAMS, CRCM, or related accreditation or certification.
• FCRM experience.
• Knowledge of trust and/or digital currency.

Responsibilities

• Establish and maintain suspicious activity investigation, review, and reporting processes that support consistent decisions, adequate investigation and research, and complete documentation.
• Monitor the Monetary Instrument Report.
• Update and revise BSA/AML/OFAC and FACT Act policies and procedures.
• Conduct BSA/AML/OFAC and FACT Act risk assessments annually or as needed, considering products, services, customers, and geographies that may present related risks.
• Ensure required regulatory reporting is timely, accurate, and compliant, including filing Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) with FinCEN, and following FinCEN 314(a) procedures and reporting requirements.
• Serve as the point of contact for BSA examinations and internal and external audits of the BSA/AML/OFAC and FACT Act compliance program.
• Establish and maintain an effective CDD/EDD risk-rating and monitoring program, including initial and ongoing assessments and review and analysis of unusual or suspicious account activity.
• Analyze new and pending laws and regulations that could affect the Bank’s practices, and develop and revise policies and procedures to ensure compliance.
• Keep affected Bank areas informed of changing laws, regulations, and procedures so changes can be implemented appropriately.
• Help prevent fraud loss to the Bank.

Benefits

• Medical, dental, and vision coverage.
• Flexible spending account or dependent care options.
• Supplemental accident, hospital, or critical illness plans.
• Employer-paid life insurance, short-term disability, and long-term disability.
• Additional voluntary life insurance options.
• Paid vacation, sick, and volunteer leave.
• 401(k) and profit sharing.
• Discounted rates on banking and mortgage services, fee waivers, and access to special financial products.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior