Responsible for developing, implementing, administering, and maintaining all aspects of the Bank Secrecy Act/Anti-Money Laundering compliance program which will be designed to ensure a high level of compliance with the BSA/AML/OFAC related laws and regulations, internal policies and procedures and Federal regulatory expectations:
- Coordinating the development, implementation and administration of all aspects of the corporate-wide Bank Secrecy Act (BSA) Program.
- Conduct BSA/AML/OFAC risk assessments annually or as needed with consideration to products, services, customers, and geographies that may present BSA/AML/OFAC related risks. Annually collect and report data required for the OCC Money Laundering Reporting System
- Monitoring compliance with state and federal Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering (AML), and OFAC laws and regulations.
- Assist with the identification of any type of financial fraud
- include wire fraud, credit card fraud, internet scam, identity theft, money laundering and other suspicious activity in order to prevent losses
- Coordinating and assisting in the administration of independent, state and federal regulator and auditor examinations and reviews.
- Coordinating responses to regulatory BSA-AML examinations and audits and actions taken to insure deficiencies are corrected.
- Make recommendations to the Compliance Officer and senior management when and where appropriate.
- Maintaining proficient knowledge of the rules and regulations the Bank Secrecy Act (BSA), USA Patriot Act, and OFAC.
- Work with operations units to develop BSA AML system, to investigate transactions that are suspicious in nature.
- Quality Control of submitted to FinCEN Suspicious Activity Reports, same as alerts and cases determined activity not warrants a SAR
- Monitoring and track BSA-AML high-risk customers and accounts.
- Performing regulatory research in response to business unit compliance inquiries, projects, and changes while communicating
- Perform analysis of BSA related data to draw conclusions about the level of compliance throughout the enterprise.
- Performing routine monitoring to determine the extent of compliance with regulations, laws, policies and procedures. Communicates the results of monitoring to department managers and senior management, follows-up to ensure issues are addressed, escalates issues
- Managing a department and leading a BSA team of 4 members. Schedule external BSA/AML training sessions for the BSA team