6 months ago
A client of ours, a large Financial Institution in New York City is looking for a BSA Officer to join its leadership team.
The BSA/AML Officer is responsible for developing, implementing and administering all aspects of the Bank’s (BSA)/Anti-Money Laundering (AML), Customer Identification Program (CIP) and Office of Foreign Assets Control (OFAC) compliance programs (the Programs), as well as ensuring that all banking activities are performed in compliance with OFAC regulations and the provisions of the Bank Secrecy Act and related laws and regulations.
- Maintaining, and Overseeing the Bank’s AML and OFAC Programs along with related policies and procedures including KYC, CDD, EDD, and on-going customer monitoring.
- Developing, implementing and maintaining procedures related to the Programs;
- Maintaining a system of internal controls, including reviews and monitoring, to ensure ongoing compliance;
- Maintaining the BSA/ AML and OFAC risk assessments;
- Managing the BSA/AML department;
- Participating in new product decisions related to AML and sanctions risk;
- Ensuring all recordkeeping and retention requirements are met;
- Providing BSA/AML training to the Bank’s staff and Board of Directors and updating training courses, as needed;
- Apprising Bank management, staff and the Board of Directors of emerging issues and regulatory changes;
- Supervising transaction and activity monitoring for suspicious activity, including managing the Bank’s AML system and the alerts it produces;
- Providing recommendations for exiting clients
- Contacting and/or reporting sanctions related transactions to OFAC
- Managing identification any reportable activity and timely filing Suspicious Activity Reports (SARs), where appropriate;
- Maintaining the High Risk Customer List and performing High Risk Customer reviews;
- Maintaining the Bank’s Customer Identification Program;
- Maintaining risk-based Customer Due Diligence, Beneficial Ownership, and Enhanced Due Diligence procedures, and performing related customer reviews;
- Overseeing the process of searching and responding to Information Sharing requests related to Sections 314(a) and (b) of the USA PATRIOT Act;
- Performing OFAC SDN and Consolidated Sanctions Lists searches, investigating potential matches, and ensuring proper processing and reporting of actual matches;
- Maintaining a thorough knowledge of the BSA/ AML and OFAC regulations and monitoring related trends, news, emerging issues, and regulatory changes;
- Complying with regulatory examination and audit documentation requests;
- Cooperating with examiners and auditors.
If this opportunity interests you, please get in touch with an updated resume.