VP, BSA Officer - Hybrid

Mission Valley Bank • Burbank, CA

59d • Hybrid

About The Position

This position is responsible to oversee operations of the Bank's BSA Compliance Program. Ensures the program functions in compliance with the BSA/AML related laws and regulations, internal policies and Federal regulatory expectations. The BSA Officer is required to be fully knowledgeable and skilled in all areas of BSA/AML compliance and to independently recognize, develop and implement effective compliance related solutions for BSA/AML monitoring and related issues. This position provides guidance & information to the Risk & Compliance Officer, Senior Management and Bank personnel on emerging issues. This position will serve as the OFAC Officer.
Manages the BSA/AML/OFAC functions to ensure the Bank's compliance with all BSA/AML/OFAC/USA Patriot Act related federal, state, and local laws and regulations.
Advises the Bank's Executive Management Team, Compliance & Risk Officer, and Bank personnel of emerging BSA compliance issues.
Mains, reviews, and updates the Bank's BSA/AML Program, policies, and procedures. Monitors and assess the impact of regulatory changes to recommend enhancements to the BSA/AML/OFAC/USA Patriot Act monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity.
Establishes and maintains an effective CDD/EDD risk rating and monitoring program and ensures reviews are completed timely.
Oversees monitoring program, including SAR filings and 314(a) reporting; directly responds to all 314(a) and 314(b) inquiries, escalate potential watch list hits and prepare required regulatory reports.
Performs a BSA/AML/OFAC risk assessment annually or more frequent as needed.
Performs as the primary contact for examinations and internal and external independent reviews or audits of the BSA/AML/OFAC compliance programs.
Coordinates and administers BSA/AML/OFAC/CIP related training programs Serves as subject matter expert in all systems related to BSA/AML/OFAC/CIP activities.
Monitors and analyzes developing industry and compliance trends and changes to laws and regulations pertaining to BSA/AML/OFAC/USA Patriot Act and updates Bank departments and policies.
Monitors analyst's reviews of anti-money laundering alerts for suspicious activity utilizing the Bank's AML program. Ensures proper documentation.
Ensure close collaboration with the compliance department, maintaining open communication so both teams are aligned and have a shared interest in risk management and Bank growth.

Requirements

• Bachelor's degree or equivalent work experience.
• Minimum of 7 years of experience in a BSA environment, which includes five years as a BSA Officer supervising a team.
• Must be able to manage multiple demands and priorities.
• Extensive knowledge of Bank Secrecy Act, USA PATRIOT Act, Money Laundering Control Act, Office of Foreign Asset Control regulations, strategies and enforcement policies, familiarity with key banking regulations and interpretations, knowledge of bank laws and operations, risk assessment and analysis.
• Must possess excellent analytical, research, and organizational skills.
• Must possess excellent communication skills (both verbal and written), influence and leadership skills.
• Capability of working well independently and as part of a team interacting with all levels of clients, staff and management, and exercising appropriate level of authority commensurate with experience and responsibility.
• Ability to work successfully in a deadline driven environment.
• Requires the ability to exercise independent judgment and employ reasoning skills
• Skills necessary to be a successful supervisor including compliance with human resources policies and procedures, recruiting and training staff, providing regular feedback to direct reports, establishing and supporting attainment of goals for direct reports and completing annual performance evaluations.

Nice To Haves

• CAMS or other BSA related designation preferred.

Responsibilities

• Manages the BSA/AML/OFAC functions to ensure the Bank's compliance with all BSA/AML/OFAC/USA Patriot Act related federal, state, and local laws and regulations.
• Advises the Bank's Executive Management Team, Compliance & Risk Officer, and Bank personnel of emerging BSA compliance issues.
• Maintains, reviews, and updates the Bank's BSA/AML Program, policies, and procedures.
• Monitors and assess the impact of regulatory changes to recommend enhancements to the BSA/AML/OFAC/USA Patriot Act monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity.
• Establishes and maintains an effective CDD/EDD risk rating and monitoring program and ensures reviews are completed timely.
• Oversees monitoring program, including SAR filings and 314(a) reporting; directly responds to all 314(a) and 314(b) inquiries, escalate potential watch list hits and prepare required regulatory reports.
• Performs a BSA/AML/OFAC risk assessment annually or more frequent as needed.
• Performs as the primary contact for examinations and internal and external independent reviews or audits of the BSA/AML/OFAC compliance programs.
• Coordinates and administers BSA/AML/OFAC/CIP related training programs
• Serves as subject matter expert in all systems related to BSA/AML/OFAC/CIP activities.
• Monitors and analyzes developing industry and compliance trends and changes to laws and regulations pertaining to BSA/AML/OFAC/USA Patriot Act and updates Bank departments and policies.
• Monitors analyst's reviews of anti-money laundering alerts for suspicious activity utilizing the Bank's AML program.
• Ensure close collaboration with the compliance department, maintaining open communication so both teams are aligned and have a shared interest in risk management and Bank growth.
• Embrace MVB's core values ACCEPT, show respect for cultural differences; promote working environment free of harassment of any type.
• Support a diverse workforce and affirmative action.
• Maintain up to date knowledge and may train others on products, services, departmental systems, and related technology, policies and procedures.
• Bring any suspicious activity to the attention of a supervisor, or the BSA Officer.
• Follow all Bank policies and procedures to ensure compliance with all laws and regulations.
• Understand and adhere to regulatory guidelines including but not limited to FCRA, BSA, GLBA, etc. as the regulations pertain to the employee's job function.

Benefits

• Medical, dental, vision and life insurance eligibly the first day of the month following employment.
• Several discount programs, Employee Assistant Program (EAP), several voluntary plans, Flexible Spending, Health Savings Account and more
• 401(k) pre-tax with matching contribution and Roth 401(k)
• Free checking and savings accounts
• Monthly stipend for cell phone expenses
• Flexible work schedule
• Beyond holidays, vacation and sick pay.
• Adoption assistance and leave options for medical, personal or family reasons including jury duty and military leave
• Recognition programs, monetary rewards for new team members and more

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Education Level: Associate degree
• Number of Employees: 11-50 employees