BSA Compliance Officer

Job Description Provide strategic oversight for all aspects of the Bank’s AML/BSA/OFAC Compliance Program in order to manage AML/BSA/OFAC risk. Advise the Bank's Director of Regulatory Compliance, Senior Management, and Bank personnel of emerging compliance issues, and strategically guide the Bank in the establishment of controls to mitigate risks. This position provides leadership and supervision within the department, and is required to be fully knowledgeable and skilled in all areas of the department. Responsibilities Identify and measure the BSA/AML and OFAC risks associated with products and services offered by the Bank and design appropriate policies, procedures, systems, controls and training to address those risks. Design and maintain the strategic BSA/AML and OFAC Compliance Programs encompassing all business lines. Submit Program for BOD approval annually. Oversee the written BSA/AML and OFAC risk assessments (RAs) process; to be completed at least every 12 months for approval by the Bank BOD. Ensure RAs are communicated with all business lines across the bank, management and appropriate staff. Review and approve the BSA/AML and OFAC RAs, periodic monitoring reports, and BSA system parameters. Develop and maintain benchmarks for dashboard reporting. Provide periodic updates to the Director, Regulatory Compliance and the Board of Directors. Highlight any potential areas of concern and propose appropriate risk mitigation response actions. Prepare reports concerning BSA-related risk and activities to Director of Regulatory Compliance and the Board of Directors. Ensure the timely filing of the annual Money Laundering Risk report. Identify and resolve errors and discrepancies to ensure a complete and accurate MLR submission. Provide guidance and oversight to the Assistant BSA Officer and staff. Develop and maintain quantifiable process to routinely evaluate resource needs to maintain appropriate performance levels. Monitor BSA/AML industry developments, maintain advanced knowledge of new and amended laws and regulations impacting the Program and Risk Assessment, and guide the department accordingly. Drive the development and implementation of new and modified processes and/or system enhancements necessary to maintain compliance with all BSA/AML and OFAC requirements. Manage all internal and external examinations of department activities, including independent testing and external examinations. Oversee the preparation of audit and examination responses, including monitoring the completion of management commitments/corrective action. In conjunction with the Director of Regulatory Compliance, develop department goals and objectives. Monitor and report progress towards completion of those goals and objectives. Qualifications Knowledge, Skills & Abilities Extensive knowledge of Bank Secrecy Act, Enhanced Due Diligence (EDD), OFAC, USA PATRIOT Act and related regulations. Ability to strategically design programs and control systems to manage risk. Ability to define problems, design and implement solutions. Demonstrated leadership ability and proven success in building and maintaining a high performance culture through effective employee development and timely performance management. Provide ongoing coaching and leadership of BSA team to achieve desired results. Strong project management skills with the ability to multi-task and manage competing priorities. Ability to communicate clearly and accurately in verbal and written format in a manner as to inform, educate and influence outcome. Interact in a pleasant, cooperative, and timely manner with internal and external personnel at all levels in order to obtain and give information. Proven policy and procedure writing capability, implementation and enforcement. Experience & Education Bachelor’s Degree in business related field. MBA/JD preferred. At least 10 years progressively responsible and focused experience in BSA/AML in a large banking environment, with at least 5 of those years in a strategic BSA leadership role. Certifications Certified Anti-Money Laundering Specialist (CAMS) certification or other BSA related. #J-18808-Ljbffr