Up to $95,000
22 days ago
A banking client of ours based in Los Angeles, CA is looking for a BSA Compliance Officer to support the bank’s board of directors. This candidate is responsible for coordinating and monitoring day-to-day compliance with BSA regulatory requirements. Assess whether the BSA compliance officer has the appropriate authority, independence, access to resources, and competence to effectively execute all duties. Remote as of right now. Planning to go back into hybrid at the end of the year.
Responsibilities & Duties:
- Evaluate the effectiveness of processes to ensure that appropriate risk factors were addressed by BSA unit leaders.
- Gain thorough understanding of the financial institutions policies and procedures as it relates to the BSA’s rules and its application within the BSA/OFAC Department.
- Implements, performs and documents assigned control reviews; performs and conducts testing based on detailed procedures and processes. Identifies issues, exceptions and patterns, escalates to management for resolution and formally documents findings.
- Prepare detailed work papers to support findings and provide clear and concise statements/explanations regarding findings.
- Identifies areas of risk and make recommendations on operational improvements, processes for compliance, quality assurance and any additional training essential to mitigate risk. Seeks ways to assist the Bank in strengthening controls, remain compliant and improve efficiency.
- Researches and analyzes testing results or issues, training, reads literature to become more knowledgeable about current banking, regulatory and audit issues, and performs other tasks as necessary to carry out daily responsibilities; maintains expertise in areas of testing.
- Bachelor’s degree ideally in Business, Economics, Accounting or Criminal/Criminal Justice or related major or equivalent working experience.
- 6+ years direct work experience in BSA/OFAC or equivalent with related experience in other areas of banking/financial services industry.
- Ideal candidate will have experience in various areas of BSA Scope; Case management, SARs, CTRs, EDD, OFAC, and KYC.
- Able to work individually and have self-awareness