Cedar Falls, Iowa
over 1 year ago
Our client is a rapidly growing and innovative bank in Iowa who is looking to add a BSA Officer to their management team. The BSA Officer will be responsible for coordinating the development, implementation and administration of all aspects of the corporate-wide Bank Secrecy Act (BSA) Compliance Program. This position monitors compliance with state and federal Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering (AML), and OFAC laws and regulations.
• Responsible for all areas of the bank’s BSA program; may perform various functions individually or may assign to BSA departmental staff, as appropriate.
• Act as an escalation point for the BSA department to resolve issues and work on complex issues where analysis of situations or data requires an in-depth evaluation of variables.
• Using software and reports, identify higher risk customers for enhanced due diligence. Ensure the maintenance of accurate and complete records on the Bank’s high-risk customers including documentation of enhanced monitoring.
• Provide training for team members on the Bank’s BSA Policy, the BSA department’s investigation procedures, and the specific functions assigned to the BSA/Coordinators and CTR/SAR preparation.
• Ensure the training of all affected management and staff within the company with regard to their particular roles in BSA compliance.
• Evaluate the adequacy and effectiveness of procedures and internal controls within the BSA department and business lines. Propose enhancements as needed.
• Ensure the timely screening of the Bank’s customer base in response to FinCen’s bi-weekly 314(a) requests and the maintenance of records supporting results in compliance with regulatory requirements.
• Ensure the timely performance and documentation of the annual review of the Bank’s exempt customer list in compliance with FinCen regulations.
• Perform periodic quality assurance testing of the Bank’s AML software and rules to ensure accurate and effective monitoring. Prepare reports of testing results for management.
• Performs other duties as assigned by Management.
• 5+ years BSA experience (with experience working in a FinTech)
• Experience in managing and developing a BSA team
• Experience with financial intelligence tools and resources to detect suspicious activity
If this opportunity is of interest to you and you meet the desired skill set, please apply directly with an updated resume.