BSA Officer

Description

Job Summary

Responsible for administering and overseeing the Bank’s BSA/AML and regulatory compliance program and ensuring the Bank operates in accordance with federal and state banking laws and regulations. The BSA/AML Officer serves as the bank’s subject matter expert for BSA/AML and OFAC compliance and is responsible for the effective administration, monitoring, and continuous improvement of the program. The position exercises independent judgement in identifying, investigation, and escalating potential suspicious activity.

Working under the direction of the Senior Compliance Officer, this position oversees day-to-day responsibilities related to BSA/AML, USA Patriot Act, OFAC, and bank security requirements. Responsibilities include managing risk assessments, suspicious activity monitoring, currency transaction filing, regulatory reporting, compliance testing, policy administration, employee training, and support during regulatory examinations. The BSA Officer will work closely with the Senior Compliance Officer to provide guidance, address compliance concerns, and identify potential risks to maintain a strong compliance culture.

Job Responsibilities

• Maintains proficient knowledge of rules and regulations including, but not limited to, the Bank Secrecy Act (BSA), USA Patriot Act and OFAC.
• Oversee all aspects of the corporate-wide Bank Secrecy Act (BSA), Anti-Money Laundering (AML) programs including maintaining the BSA Policy.
• Ensures BSA/AML related training is assigned to the Bank staff as appropriate.
• Using specialized software and reports identifies transactions that are unusual/suspicious in nature and investigates.
• Works with appropriate staff to complete and submit Suspicious Activity Reports (SAR).
• Monitors and tracks high risk customer account activity.
• Coordinating and assisting the administration of the independent state and federal regulator and external auditor examinations and reviews.
• Coordinating the responses to regulatory BSA-AML examinations and audits and actions taken to ensure deficiencies are corrected.

Disclaimer

All offers for employment with Saint Louis Bank are contingent upon the candidate having successfully completed a criminal background check. Saint Louis Bank will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, State and Federal law, including Section 19 of the Federal Deposit Insurance Act.

Relevant military experience is considered for veterans and transitioning service men and women.

Saint Louis Bank is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.

Requirements

Qualifications, Knowledge, and Skills

• BS in Finance, Business, or related degree
• 5-7 years’ experience in all aspects of duties outlined above.
• Demonstrated knowledge of BSA/AML/USAPA/OFAC banking laws and regulations.
• Demonstrated knowledge of banking products and services.
• Demonstrated knowledge of federal, state BSA-related requirements.
• Strong professional skills with emphasis on planning and organization.
• Proven experience leading teams, preferably a BSA team.
• Proven experience performing common BSA functions (investigating BSA related system alerts, CTR and SAR filing, EDD reviews, OFAC alerts, case management, etc.)
• Strong and thorough knowledge of Bank policies and procedures. General knowledge of overall Bank products and services, particularly those offered in a commercial banking environment.
• Ability to multi-task and manage multiple activities to completion within strictly regulated deadlines.

Work Environment

• General office conditions
• Must be able to work effectively at a computer for extended periods of time
• Must be able to sit for extended periods of time
• Regular attendance is necessary