BSA Specialist

About the position

This position is responsible for performing day-to-day duties involved with the adherence to the Bank Secrecy/Anti-Money Laundering program as well as supporting all business units in its implementation and maintenance. The BSA specialist position is responsible for assisting with ensuring compliance with the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) policies and procedures and the applicable federal regulations to protect the company from being used as a conduit for illegal activity. The BSA/AML program includes Currency Transaction Reports (CTRs), Office of Foreign Asset Control (OFAC), Suspicious Activity Reports (SARs), Customer Due Diligence (CDD), and Customer Identification Program (CIP).

Responsibilities

• Maintain proficient knowledge of the rules and regulations, industry standards, and regulatory guidance, including but not limited to BSA, AML, USA Patriot Act, and OFAC, and seek suitable BSA/AML training to enhance professional development.
• Perform monthly CIP/CDD Quality Control Review.
• Reviews Large Cash Transaction Reports daily to ensure currency transaction reports are completed properly for all reportable transactions and that they are submitted timely via BSA e-filing and proper documentation is retained.
• Ensures all CTR’s are filed electronically within the proper timeframe.
• Assists with annual review of exempt customers and completion of review form. Reviews history for accounts that CTR’s are routinely completed and complete exemption request when applicable.
• Assist with BSA Software monitoring alerts as assigned.
• Performs additional compliance testing and support as needed.
• Monitor potential OFAC matches and take appropriate action to escalate them when necessary.
• Participate in ongoing training to maintain current knowledge of BSA/AML and OFAC regulatory requirements.

Requirements

• 2+ years of Banking Experience
• Valid driver’s license
• Knowledge of BSA/AML/OFAC