VP SAR Team Lead

Commonwealth Business Bank•Los Angeles, CA

8h•$90,000 - $110,000•Onsite

About The Position

The SAR Team Lead is responsible for the day-to-day execution of the Bank's suspicious activity reporting (SAR), Currency Transaction Reporting (CTR) workflows. This position oversees a team performing these functions in accordance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) regulations, and related regulatory guidelines. The SAR Team Lead ensures timely and accurate reporting, provides oversight and guidance to team members, and serves as a designated back-up when necessary. This role collaborates with other BSA teams to achieve compliance goals and provides monthly team metrics to management.

Requirements

Minimum of 6 years of experience in BSA/AML compliance or closely related functions.
Bachelor's degree in business, finance, or related field preferred.
Strong knowledge of Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Suspicious Activity Reporting (SAR) requirements, Currency Transaction Reporting (CTR) requirements.
Proficient in Microsoft Office Suite (Word, Excel, Outlook) and AML monitoring systems.
Excellent verbal and written communication skills.
Strong analytical and organizational skills with the ability to manage multiple tasks.
Demonstrated leadership and mentoring capabilities.
Ability to work effectively in a team-oriented environment.

Nice To Haves

Experience with Abrigo application suite preferred.

Responsibilities

Oversee daily operations related to SAR and CTR activities.
Conduct quality control reviews of prepared SARs and CTRs to ensure completeness and accuracy ensuring SAR and CTR filings are submitted within the regulatory requirements and deadlines.
Ensure investigations are thorough and documentation is maintained to support conclusions.
Provide ongoing training to team members on BSA/AML regulations, SAR trends, CTR filing requirements, and industry best practices.
Provide back-up support to team members, as needed.
Identify team performance issues and provide feedback, development opportunities, and oversight of action plans aimed at improving performance.
Mentor team members by providing guidance and best practices in complex cases and regulatory matters.
Communicate effectively with business partners when requesting information related to investigations.
Provide monthly metrics data to the BSA Officer for Board of Directors reporting.
Maintain awareness of changes in the BSA/ AML regulatory environment and ensure team adherence to updated requirements.
Participate in internal and external audits and examinations related to BSA/AML compliance.
Assist the BSA Officer with special projects and assignments, as needed.
Ensure compliance with all bank policies, procedures, and regulatory requirements including the Bank Secrecy Act, USA PATRIOT Act, and other applicable laws.