BSA Officer

BSA Officer

 

Reports to:                    Compliance Officer,  CFO 

 

Supervises:                   BSA Assistant

 

Position Summary: 

              

This position is responsible for developing, implementing, and administering all aspects of the Bank Secrecy Act compliance program.

 

Major Duties and Responsibilities:

1. Adheres to and embraces the SmartBank Way by Acting Smart, Looking Smart and Being Smart.  Actively participates in department SmartMinute meetings.

1. 2.     Advises the Bank’s Compliance Officer, Senior Management, and Bank personnel of emerging compliance issues and consults and guides the Bank in the establishment of controls to mitigate risks. 
2. 3.     Assists in all aspects of accounts and activities under different departments of the bank relating to BSA, AML, and OFAC compliance as described in the FFIEC Bank Secrecy Act Anti-Money Laundering Examination Manual.
3. 4.     Coordinates and improves BSA/AML program.
4. 5.     Oversees monitoring program, including SAR filing and 314(a) reporting; directly responds to all 314(a) and 314(b) inquiries, escalates potential watch list hits and prepares required regulatory reports.   
5. 6.     Maintains a current knowledge of the Bank Secrecy Act and all related anti-money laundering and OFAC regulations; monitors legislative and regulatory developments regarding the Bank Secrecy Act and reports important compliance developments to the Board of Directors, management, and other bank personnel.
6. 7.     Performs annual BSA/AML/OFAC risk assessment.
7. 8.     Oversees and develops BSA/AML training for Board of Directors, management, and bank associates.
8. 9.     Reviews policy annually and makes appropriate changes to mitigate risk to the Bank.  Reports changes to the Board of Directors for final approval. 
9. 10.  Complies with all audit requests from internal auditors and is responsible for responses to findings, as well as completion of policy changes due to audit findings.
10. 11.  Reviews all high-risk activity compiled on a monthly basis before presentation to the Board of Directors.
11. 12.  Carries out such other duties as may be assigned or requested.

 

Position Requirements and Qualifications:

 

Education:

1. 1.     Associate’s Degree and 2 years qualified experience in BSA/AML.

 

Training Requirements (licenses, programs, or certificates):

1. 1.     Must attend BSA training at least twice annually
2. 2.     Certified BSA / AML Professional designation is recommended. 

 

Knowledge, Skills, and Abilities:

1. 1.     Ability to apply knowledge and sound judgment in decision-making using established guidelines.
2. 2.     Ability to communicate effectively with the Board of Directors and regulatory authorities.
3. 3.     Proficient level of computer competency including Microsoft Windows (Word, Excel, Outlook. 
4. 4.     Strong math skills.
5. 5.     Strong written and oral communication skills.
6. 6.     Detail oriented and ability to function in a team environment.
7. 7.     Demonstrates ability to maintain a positive attitude.
8. 8.     High level of integrity.
9. 9.     Able to maintain regular and predictable attendance.
10. 10.  Willing to accept new ideas and methods and be agreeable to change.

 

Work Conditions:

1. 1.     Frequently and regularly required movements using wrists, hands, and/or fingers.
2. 2.     Average, ordinary, visual acuity necessary to prepare inspect documents or products and operate machinery.
3. 3.     Ability to hear average or normal conversations and receive ordinary information.
4. 4.     May be required to travel to various branch locations.
5. 5.     May be required to travel to training sessions or meetings.

 

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Last updated on Oct 27, 2023