BSA SPECIALIST - BLUFFTON

SOUTH ATLANTIC BANK•Bluffton, SC

About The Position

The BSA Specialist helps prevent money laundering and assists the BSA Officer with compliance monitoring reviews and special projects assessing the organization’s regulatory compliance. When suspicious criminal activity is identified, the specialist opens a case file and works with the BSA Officer to investigate the customer and activity. The role includes researching potential Suspicious Activity Report (SAR) filings, determining whether a SAR should be filed, and ensuring required filings, reports, reviews, and other duties are completed and submitted on time in accordance with regulatory guidelines. The specialist also provides investigative support for possible SAR and Currency Transaction Report (CTR) matters and researches, guides, and determines the appropriate handling of OFAC clearing items involving consumer and business transactions and other BSA requirements. The position reviews customer identification records and exceptions, AML enhanced due diligence and risk-rating worklists, wire transfers, ACH and OFAC alerts, cash transaction reports, and red-flag responses. It also processes FinCEN 314a notifications, supports reviews of exempt customers, performs requested kite reviews, and provides additional compliance testing and support as needed.

Requirements

At least 3 years of BSA compliance experience in the banking industry.
Current working knowledge of banking industry servicing regulations and guidelines.
Sound knowledge and understanding of BSA/AML, OFAC, and USA PATRIOT Act regulations.
Basic knowledge of the organization’s operating systems or willingness to learn.
Strong decision-making, analytical, and investigative abilities, with attention to detail and accuracy.
Strong written and verbal communication skills and effective organizational abilities.
Ability to work independently with initiative, research issues, and solve problems.
Ability to manage time and resources, meet deadlines, prioritize tasks, follow through on projects, and document results.
Familiarity with Microsoft Office products.

Responsibilities

Review new CIF records daily for compliance with the Customer Identification Policy (CIP).
Maintain records of CIP exception errors and communicate errors weekly to employees and, at month end, escalate items outstanding for 30 days to Executive Management.
Review BSA REDI worklists for missing CIP information and work with branch employees to obtain and clear exceptions.
Review BSA REDI worklists for AML enhanced due diligence and risk ratings, clear exceptions, and refer suspicious items for potential SAR reporting.
Check outgoing wire transfers against OFAC and Section 311 listings.
Review ACH and OFAC hits or suspects identified through nightly searches, core systems, and ACH files.
Review and document receipt of OFAC file updates from JHA Allen Data Center.
Complete kite reviews requested by branches and Deposit Operations.
Receive and complete FinCEN 314a notifications, review and report search results, and document them as required by policy.
Review Large Cash Transaction Reports daily to confirm CTRs are properly completed for reportable transactions, filed on time through BSA e-filing, and supported by retained documentation.
Ensure CTRs and SARs are filed electronically within the required timeframes.
Review Red Flag Response forms, including identification of issues and proper resolution.
Assist with annual exempt-customer reviews and completion of the required IRS review form.
Review account histories for routinely filed CTRs and complete exemption requests when applicable.
Review OFAC hits or suspects identified in nightly searches for NetTeller bill-payment payees.
Perform additional compliance testing and support as needed.
Create case files and work with the BSA Officer to investigate potentially suspicious customer activity.
Research possible SAR filings and determine whether a SAR should be filed.