BSA Officer

Bank of Springfield•Springfield, IL

41d

About The Position

BSA Officer Key Job Duties: Oversee all aspects of the corporate-wide Bank Secrecy Act (BSA)/Anti-Money Laundering (AML)Programs. Review laws and regulations that impact the bank compliance requirements, with emphasis on Bank Secrecy ACT (BSA/AML), US Patriot Act and OFAC. Oversee the monitoring of customer transactions to help support BSA/AML, filing of all SAR/CTRs in accordance with BSA. Review system reports daily to support BSA/AML/OFAC compliance. Prepare board reports. Manage CTR reporting and CTR exemption processes. Utilize systems/resources to monitor and help reduce customer and internal fraud. Ensure all BSA staff and the Board of Directors are adequately trained in the Bank Secrecy Act. Disseminate information, answer questions, and be a subject matter expert for the bank onBSA/AML/OFAC-related issues. Ensure implementation of record retention policies and procedures in accordance with BSA/AML/OFAC regulations and laws. Oversee regulatory examinations and audits, including gathering and reviewing all requested information and developing and coordinating responses to such reviews as necessary. Responsible for keeping relevant policies, programs, and procedures current. Administer the Customer Identification Policy and Procedures. Oversee enhanced due diligence reviews for customers identified as higher risk. Perform comprehensive risk assessments and policy analysis to determine BSA/AML and other risk exposures, collaborate with team members to develop mitigating controls and monitoring strategies. Respond to 314(a) requests. Implement automated BSA/AML software and maintain ongoing development and maintenance of the software. Review effectiveness of automated system reports and recommend changes or modifications. Serve as a member of the bank's Compliance Committee and will be expected to stay up to date on regulatory BSA/AML changes informing the Compliance Committee and other affected staff as needed about any relevant changes needed in bank policies or procedures. Serve as a member of the SAR Committee and will be expected to assist in leading monthly SAR meetings. Ensure proper training of employees in BSA/AML regulatory compliance. Study BSA/AML regulatory compliance issues and stay current on job-related compliance issues. Attend on-going training to gain and maintain knowledge of regulatory compliance issues. Complete assigned training courses in a timely manner. Undertake special projects as assigned by supervisor. Help Supervise or oversee BSA department when department Manager is unavailable

Requirements

7+ years of experience in banking compliance, BSA and Operations.
Proficient knowledge/experience with BSA, AML and related regulations
Certified Anti-Money Laundering Specialist (CAMS) or Certified BSA/AML Professional (CPAB) certificate or ability and willingness to obtain DBAP within one year.

Responsibilities

Oversee all aspects of the corporate-wide Bank Secrecy Act (BSA)/Anti-Money Laundering (AML)Programs.
Review laws and regulations that impact the bank compliance requirements, with emphasis on Bank Secrecy ACT (BSA/AML), US Patriot Act and OFAC.
Oversee the monitoring of customer transactions to help support BSA/AML, filing of all SAR/CTRs in accordance with BSA.
Review system reports daily to support BSA/AML/OFAC compliance.
Prepare board reports.
Manage CTR reporting and CTR exemption processes.
Utilize systems/resources to monitor and help reduce customer and internal fraud.
Ensure all BSA staff and the Board of Directors are adequately trained in the Bank Secrecy Act.
Disseminate information, answer questions, and be a subject matter expert for the bank onBSA/AML/OFAC-related issues.
Ensure implementation of record retention policies and procedures in accordance with BSA/AML/OFAC regulations and laws.
Oversee regulatory examinations and audits, including gathering and reviewing all requested information and developing and coordinating responses to such reviews as necessary.
Responsible for keeping relevant policies, programs, and procedures current.
Administer the Customer Identification Policy and Procedures.
Oversee enhanced due diligence reviews for customers identified as higher risk.
Perform comprehensive risk assessments and policy analysis to determine BSA/AML and other risk exposures, collaborate with team members to develop mitigating controls and monitoring strategies.
Respond to 314(a) requests.
Implement automated BSA/AML software and maintain ongoing development and maintenance of the software. Review effectiveness of automated system reports and recommend changes or modifications.
Serve as a member of the bank's Compliance Committee and will be expected to stay up to date on regulatory BSA/AML changes informing the Compliance Committee and other affected staff as needed about any relevant changes needed in bank policies or procedures.
Serve as a member of the SAR Committee and will be expected to assist in leading monthly SAR meetings.
Ensure proper training of employees in BSA/AML regulatory compliance.
Study BSA/AML regulatory compliance issues and stay current on job-related compliance issues.
Attend on-going training to gain and maintain knowledge of regulatory compliance issues.
Complete assigned training courses in a timely manner.
Undertake special projects as assigned by supervisor.
Help Supervise or oversee BSA department when department Manager is unavailable