SVP BSA OFFICER

Commonwealth Business Bank•Los Angeles, CA

8h•$150,000 - $160,000•Onsite

About The Position

This position is responsible for the direct management of the department. Knowledge of bank operations is necessary to provide management and guidance. This position conducts daily research and analysis of bank wide customer new account and transaction activity across all business lines to determine suspicious activity and files Suspicious Activity Reports (SARs) as needed. Also, responsible for performing suspicious activity investigation & anti-laundering enhanced due diligence. This includes BSA (Bank Secrecy Act), OFAC (Office of Foreign Assets Control), and CIP (Customer Identification Program). This position is also responsible to directly report to the Board and Senior Management on any BSA related matters within the bank, issues, and changes/updates to regulations.

Requirements

Maintain high standards of confidentiality and security
Must possess good computer, written and oral communication skills
Well-organized, analytical and capable of performing multiple tasks
Ability to prioritize and use a sound judgment is required
Ability to time management skills
Bachelor’s degree from accredited 4-year University required.
Minimum of 7 years’ experience in a Financial Institution dealing with Compliance/BSA and/or audit experience
Must be authorized to work in the US.

Nice To Haves

Master’s degree desired
BSA/AML or branch operations experience highly preferred

Responsibilities

Oversees 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
Analyzes account transactions utilizing the BSA tracking software and data processing system
Prepares BSA package for Management Committee meeting
Provides branch and customer support on inquiries on day-to-day issues related to Ops Admin and BSA
Analyzes complex transactions in identification of suspicious account activity
Responsible for providing training to all investigators in order to comply with regulatory requirements and changes in law
Responsible for establishing, implementing and ensuring that BSA training is delivered for all bank employees and the Board of Directors
Ensures that all deadlines are met as required by law
Reviews account related legal documents as necessary
Reviews various reports to identify transaction patterns
Analyzes account data to determine the level of risk associated with each account and recommending a risk rating
Maintains BSA and OFAC risk Assessments
Ensures effective programs are in place for CDD, KYC, AML, OFAC, Transaction monitoring, CTR’s, Suspicious Activity monitoring and reporting
Investigating possible suspicious activities and filing SAR’s as necessary
Ensure BSA/OFAC related policies and procedures are current and complete
Analyze transactions to determine if they are suspicious in nature and take appropriate action and maintain proper documentation
Responsible for OFAC and required annual reporting to OFAC
Responsible for FinCEN 314(a) list search request
Responsible for FinCEN 314(b) request/response
Prepares SARs/CTRs filed report to the Board of Directors
Reviews and tracks CTRs for properly filing
Comply fully with all Bank policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Anti Money Laundering, Code of Conduct, and etc.). Must complete all required training