BSA Specialist

Herring Bank

8d•Remote

About The Position

Herring Bank is seeking a BSA Specialist to support the Bank’s compliance with the Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering (AML) requirements, OFAC regulations, and other applicable laws and regulations. This position plays an important role in identifying and preventing potentially illicit financial activity through transaction monitoring, investigations, customer due diligence, and regulatory reporting. The BSA Specialist will also serve as a resource to Bank personnel by assisting with compliance-related questions and recommending solutions to issues identified through monitoring and review activities.

Requirements

High school diploma or GED required.
Minimum of 2 years of banking experience, preferably within BSA or Compliance.
Must be able to successfully pass a background and credit check.
Working knowledge of BSA/AML/OFAC regulations and compliance practices.
Strong analytical, investigative, and problem-solving skills.
Excellent attention to detail and organizational skills.
Ability to maintain confidentiality at all times.
Effective written, verbal, and interpersonal communication skills.
Strong time-management skills with the ability to manage multiple priorities.
Ability to work independently with minimal supervision while also contributing effectively within a team.
Proficiency with computers, word processing, spreadsheets, and related banking systems.
Ability to interpret procedures and regulatory documentation and prepare clear reports and correspondence.
Strong customer service skills and commitment to providing an excellent customer experience.
Self-motivated, dependable, and able to maintain punctuality and consistent attendance.

Nice To Haves

BSA/AML certification, such as CAMS (Certified Anti-Money Laundering Specialist), preferred.

Responsibilities

Monitor, review, and analyze customer transactions to identify unusual or potentially suspicious activity.
Investigate suspicious activity and maintain accurate and detailed documentation of findings and actions taken.
Prepare and file Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) in accordance with regulatory requirements.
Conduct Enhanced Due Diligence (EDD) on high-risk customers and accounts.
Conduct Customer Identification Program (CIP) reviews and validation.
Review and update customer risk ratings and identify unusual account activity.
Perform periodic reviews and risk assessments of customers, products, and services.
Monitor cash transactions and complete CTR filings as required.
Assist with the ongoing development and maintenance of the Bank’s BSA/AML/OFAC compliance program.
Stay current on regulatory changes and industry best practices related to BSA/AML/OFAC.
Support internal and external audits and regulatory examinations by providing documentation and responding to inquiries.
Maintain complete and accurate documentation for reviews, investigations, filings, and other compliance activities.
Assist with BSA/AML training and help ensure employees understand their compliance responsibilities.
Work closely with Compliance, Legal, Audit, and other internal departments to address high-risk concerns.
Collaborate with law enforcement agencies when necessary to share relevant findings.
Complete and review compliance checklists associated with various product lines.
Serve as a resource to Bank personnel regarding BSA/AML and other compliance-related questions.
Perform additional Compliance Department responsibilities as assigned.