VP, BSA Officer

Hingham Institution for Savings • Hingham, MA

10d • $150,000 - $190,000 • Onsite

About The Position

The BSA Officer administers and maintains all aspects of the Bank's BSA/AML Compliance Program, including the elevated due diligence and monitoring standards that apply to the Bank's foreign mission banking relationships. The BSA Officer ensures the Program meets a high standard of compliance with BSA/AML laws, regulations, internal policies, and regulatory expectations, and serves as the Bank's designated subject-matter expert on the unique risk profile of diplomatic and foreign government accounts. The role reports directly to the Bank's Chief Compliance Officer, partners closely with the Bank President to evaluate and make recommendations on relationship risks, and oversees the BSA Analyst. This is a highly visible position with direct exposure to the Board of Directors, executive management, and federal and state regulators. This role requires in-office presence, with a preference for candidates based in Massachusetts or Washington, D.C.

Requirements

• B.A. in a related field required
• Seven or more years of progressive experience administering an effective bank BSA/AML Compliance Program, with demonstrated success managing regulatory examinations and audits
• CAMS (Certified Anti-Money Laundering Specialist) or CBAP (Certified BSA/AML Professional) certification required, or must be obtained within 12 months of hire
• Working knowledge of the Bank Secrecy Act, USA PATRIOT Act, OFAC/sanctions regulations, and FFIEC/FinCEN guidance on foreign government and foreign mission accounts
• Positive attitude and strong partnership orientation, with the ability to support business units in the design and implementation of BSA-compliant systems and products
• Ability to manage multiple tasks simultaneously and appropriately prioritize based on potential exposure to regulatory and financial risk
• Strong written and verbal communication skills, including the ability to organize and present ideas and information in a simple, concise, and unambiguous manner
• Ability to interact effectively with all levels of management, regulators, examiners, Board members, and foreign mission stakeholders
• Resilient and able to work autonomously in the face of ambiguity

Nice To Haves

• advanced degree a plus
• Direct experience with high-risk or specialized customer types – such as foreign missions, embassies, politically exposed persons, or money services businesses – strongly preferred
• Experience with Verafin, a plus

Responsibilities

• Coordinate and oversee a strong, Bank-wide BSA/AML/OFAC Compliance Program that meets regulatory requirements and reflects current industry best practices – including the unique due diligence and monitoring program for the Bank's foreign mission banking relationships.
• Oversee and administer the Bank's automated BSA/AML monitoring and reporting platform, ensuring the Bank remains current on system functionality and that system parameters and thresholds – including those calibrated to foreign mission and other specialized deposit accounts – remain valid and effective.
• Oversee and monitor higher-risk customer relationships, including research and analysis to support customer onboarding decisions across all business lines. Serve as the Bank's BSA/AML subject-matter expert for the Specialized Deposit Group's foreign mission banking practice, applying the risk-based framework in FFIEC/FinCEN interagency guidance on accepting accounts from foreign embassies, consulates, and missions, and partnering with the SDG relationship team on account risk-rating and due diligence decisions for embassies, consulates, and other accredited foreign missions.
• Oversee the Bank's OFAC compliance program and act as subject-matter expert and resource for all sanctions screening matters, including diplomatic and foreign government account screening.
• Update the Bank's BSA/AML and OFAC risk assessments at least annually, incorporating distinct risk factors associated with foreign mission and other specialized deposit accounts, such as country risk, transaction volume and currency handling, and consistency of activity with the account's stated purpose.
• Lead the annual program self-assessment, coordinate with the Bank’s internal auditor that reviews the program, and independently manage the annual regulatory BSA examination, including matters touching the foreign mission banking portfolio.
• Prepare and present regular BSA/AML program reporting for the Board of Directors and executive management, including risk trends specific to the foreign mission banking portfolio, and advise executive management on emerging BSA/AML and sanctions considerations tied to existing relationships and prospective mission clients.
• Oversee and administer the Bank's BSA/AML training program, including specialized training for staff supporting foreign missions and other higher-risk relationships.
• Monitor changes to BSA laws and regulations – including the Foreign Missions Act of 1982 and related State Department guidance – assess their potential impact on Bank products and services, and implement necessary changes to existing policies and procedures. Coordinate with the State Department's Office of Foreign Missions as needed on banking access and compliance matters affecting accredited missions.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive