BSA (Bank Secretary Act) Officer (SVP)

The BSA Officer provides strategic direction, leadership, and oversight of the Bank’s Bank Secrecy Act/Anti-Money Laundering and Office of Foreign Assets Control Programs (BSA/AML and OFAC Programs). Develops and maintains a comprehensive program, supported by appropriate policies, and processes that ensure compliance with all laws, rules and regulations. Acts as an advocate of change and leads the development and execution of a transformative roadmap through strategic adoption of advanced analytics, automation, workflow optimization, and adoption of responsible artificial intelligence/machine learning (AI/ML), with a goal to improve detection effectiveness, reduce false positives, enhance investigative efficiency, strengthen risk governance, and increase program scalability. Champions data-driven, technology-enabled solutions that align with regulatory expectations for effectiveness, transparency, explainability, auditability, and ensure alignment with all regulatory guidance. Oversees the daily oversight and management of the BSA/AML and OFAC functions in a manner that effectively identifies, measures, manages, and controls risk and maintains regulatory compliance.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Develops, implements, administers, and manages the strategic development and execution of an effective BSA/AML and OFAC Program, including: Conducts BSA/AML and OFAC risk assessments annually or as needed with consideration to products, services, customers, and geographies that may present BSA/AML and OFAC related risks. Annually collects and reports data required for the OCC Money Laundering Reporting System Identifies and implements process optimization and efficiency opportunities across alert generation, case management, investigation workflows, SAR decisioning, SAR filing, CTR processing, KYC/CDD/EDD lifecycle management, and sanctions screening. Enhances, develops, implements, and administers monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity. Promotes responsible use of AI/ML by ensuring solutions are transparent, explainable, appropriately validated, documented, access-controlled, monitored, and consistent with applicable bank policies and regulatory expectations. Ensures appropriate independent testing and response actions are executed to ensure BSA/AML and OFAC compliance. Establishes and maintains an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments, and review and analysis of unusual/suspicious account activity. Establishes and maintains appropriate SAR investigation, review and reporting processes that promote consistent decisions; adequate investigation and research; and complete and detailed documentation that complies with regulatory requirements. Oversees all aspects of the Bank’s required regulatory reporting; ensures reporting is conducted in a timely, accurate, and compliant manner, including the filing of Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) to FinCEN, as well as FinCEN 314(a) and 314(b) procedures and reporting. Prepares periodic reports to the Bank’s Enterprise Risk Management and Regulatory Compliance Committee, Board of Directors, and/or Board Committees. Ensures all compliance reporting is completed by the appropriate responsible parties and distributed timely. Oversee administration of BSA/AML and OFAC related training programs to Directors, Management, and Employees and provides BSA guidance and coaching to BSA employees to ensure that all staff members meet compliance and disclosure requirements, maintain adequate technical knowledge, and are appropriately cross trained to ensure departmental resiliency. Establishes and maintains positive, collaborative relationships and serves as liaison with internal business partners, internal and external auditors, regulatory agency representatives, and regulatory/compliance consultant groups. Leads responses to examinations and audits and oversees corrective action of related deficiencies or violations as applicable. Remains current on technology, industry, risk management, regulatory and BSA/AML and OFAC compliance trends, including changes to laws and regulations and technological advances relating to regulatory compliance. Provides leadership of direct reports through the establishment of goals and objectives, performance evaluation, mentoring and coaching, and development plans. Knowledge, Skills & Abilities Demonstrated experience leading an effective BSA/AML, OFAC and/or, financial crimes program at a midsize bank. Proven execution of transformation initiatives, including process redesign, system implementation, automation, analytics, AI decisions and measurable efficiency improvements while maintaining regulatory compliance. Strong working knowledge of transaction monitoring, sanctions screening, case management, data analytics, and business intelligence tools such as Verafin, Power BI, and GRC workflow platforms to ensure compliance requirements under §31 CFE Part 1010.230, MLR Reporting, CTR Phase II Exemption Process. Strong decision making, analytical and investigative abilities. Sound judgment with proven ability to execute BSA/AML and OFAC requirements, reaching appropriate conclusions that protect consumers/customers and maintain regulatory compliance. Ability to translate regulatory expectations, audit findings, risk assessment results, and business requirements into technology, data, analytics, staffing, and control enhancements. Strong interpersonal skills with the ability to interact effectively with all levels of management, IT, legal counsel, regulators, and auditors while maintaining strict confidentiality. Strong ability to develop and maintain effective internal and external partnerships with business partners, agency representatives and regulatory/compliance consultant groups. Demonstrated ability to work both independently and within a team environment. Demonstrated ability to provide leadership within teams and cross functionally. Ability to coach and develop staff in all aspects of performance management. Ability to collaborate, negotiate and influence across various lines of business. Exceptional organizational and prioritization skills with demonstrated ability to manage competing priorities and complete tasks within or prior to deadline. Strong written communication skills with an ability to communicate concerns, conclusions, and recommendations clearly and logically. Experience & Education Bachelor’s degree in accounting or finance and/or a comparable business curriculum. Ten or more years of experience in BSA/AML and OFAC or closely related functions. Experience in leading transformation programs in BSA with demonstrative results in AI/ML-enabled monitoring, alert optimization, and automated reporting. Previous BSA Officer or Deputy BSA Officer at Midsize Bank preferred. #J-18808-Ljbffr Phyton Talent Advisors