BSA OfficerCA - San Diego
We are looking for a Bank Secrecy Act Officer for a credit union based in San Diego.
SUMMARY: Develops, implements, administers, and maintains all aspects of the credit union's Bank Secrecy Act/Anti-Money Laundering Compliance Program. Ensures the program functions at a high level of compliance with the BSA/AML related laws and regulations, internal policies and Federal regulatory expectations. The Bank Secrecy Act Officer is required to be fully knowledgeable and skilled in all areas of BSA/AML compliance and to independently recognize, develop, and implement effective compliance related solutions for the BSA/AML program. Serves as the OFAC Officer.
- BSA/AML/OFAC Compliance Program:
- Coordinates and oversees an effective Bank Secrecy Act/Anti-Money Laundering/OFAC Compliance Program that is in compliance with current industry best practices, regulatory guidance and requirements.
- Develops, implements, administers and enhances the BSA/AML/OFAC/USA Patriot Act monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity.
- Under management's direction, assists with supervising daily activities of the Bank Secrecy Act Specialist. Provides training and direction to Compliance Department staff on BSA/AML related subjects.
- Establishes and maintains an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments, and reviews and analyzes unusual account activity.
- Establishes and maintains appropriate SAR investigation, reviews and reports processes that promote consistent decisions; adequate investigation and research; and completes detailed documentation.
- Conducts BSA/AML/OFAC risk assessments at least annually with consideration to products, services, members, and geographies that may present BSA/AML/OFAC related risks.
- Acts as a liaison/contact for examinations and internal and external independent reviews or audits of the BSA/AML/OFAC compliance programs. Responds to exam and audit concerns and oversees corrective action of all related compliance deficiencies or violations.
- Updates and revises BSA/AML/OFAC policies and procedures and prepares monthly BSA statistics for the Board of Directors.
- Administers BSA/AML/OFAC related training programs for directors, management, and employees and provides BSA guidance and coaching to employees.
- Maintains BSA/AML related monitoring and reporting systems. Serves as subject matter expert in all systems related to BSA/AML activities.
- Monitors and analyzes developing industry and compliance trends and changes to laws and regulations pertaining to BSA/AML/OFAC/USA Patriot Act. Advises stakeholders of emerging risks, new or amended laws, regulations, or agency guidance and recommends and implements changes and controls to mitigate those risks.
- BSA Monitoring and Filing:
- Ensures all required regulatory reporting is conducted in a timely, accurate, and compliant manner.
- Reviews for accuracy and files Currency Transaction Reports (CTRs).
- Ensures staff completes required CTRs by comparing system generated reports to CTRs submitted. Coordinates completion of missing reports with staff and management.
- Reviews watch lists and watch list alerts. Analyzes possible matches and takes appropriate follow-up actions.
- Reviews anti-money laundering alerts for suspicious activity. Performs additional research to determine if activity is suspicious.
- Composes, reviews, and files Suspicious Activity Reports (SARs) and conducts follow-up reviews to determine if subsequent SAR filings are required.
- Investigates staff reporting of possible suspicious behavior and files SARs as necessary.
- Reviews 314(a) and 314(b) procedures and reporting.
- Maintains in-depth knowledge of and complies with all Mission Fed, departmental and security policies and procedures, as well as, federal regulations applicable to the position, including BSA requirements. Completes all required compliance training as assigned.
- Performs other duties as assigned.
Education: Bachelor's degree or equivalent is required. Two years of equivalent experience can substitute for every one year of education. BSA/AML Certification is required.
Experience: A minimum of three years of prior financial institution BSA compliance experience in developing and implementing BSA/AML/CIP/OFAC policies, programs and procedures. General knowledge and understanding of bank deposit operations, lending activities, and other related consumer banking and compliance functions.
Skills & Abilities: Strong interpersonal, communication (written and verbal), and organizational skills with the ability to work independently, as well as, collaboratively within a team environment. Ability to interact effectively with all levels of management, legal counsel, law enforcement, regulators and examiners while maintaining strict confidentiality. Strong decision making, analytical and investigative abilities with attention to detail and accuracy.
Software: Microsoft Office Suite (including: PowerPoint and Project), Internet, and Symitar Publications