BSA Officer

Job Details Job Location: Bank First Beloit (Grand Avenue) - Beloit, WI 53511 Position Summary The BSA Officer is responsible for managing the day-to-day implementation, administration, and ongoing enhancement of the Bank’s Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) compliance programs. This role leads a team of approximately 10 BSA/AML professionals and ensures the Bank maintains an effective, risk-based program that supports safe and sound growth across Wisconsin and Illinois. The BSA Officer serves as a key partner to business lines and second-line functions, provides meaningful reporting to Senior Management and the Board of Directors, and supports examinations, audits, and continuous improvement initiatives. Responsibilities Program Administration & Operations Manage day-to-day execution of the Bank’s BSA/AML and OFAC programs, ensuring alignment with a risk-based approach and applicable regulatory requirements. Oversee accurate and timely Currency Transaction Report (CTR) processing, including quality control, escalation, and reconciliation of filing volumes and exceptions. Oversee Customer Identification Program (CIP) controls and Beneficial Ownership/Legal Entity onboarding and monitoring activities, including issue tracking, remediation, and trend analysis. Administer the customer risk rating methodology and ongoing monitoring processes to ensure risk ratings remain current and reflect the nature, purpose, and risk profile of customer relationships. Oversee Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) reviews, including periodic reviews of higher-risk customers and documentation standards. Oversee suspicious activity monitoring processes, alert disposition workflows, escalation protocols, and documentation standards to ensure regulatory defensibility. Oversee the investigation, decisioning, and filing of Suspicious Activity Reports (SARs), including continuing activity monitoring and SAR quality assurance. Oversee sanctions/watchlist screening processes (customer and transactional screening), escalations, disposition documentation, and any required blocking/rejecting and reporting. Coordinate and manage information sharing requests and processes (e.g., 314(a) and 314(b)) and support lawful requests from law enforcement and other financial institutions. Risk Assessments, Governance & Reporting Lead and/or support periodic BSA/AML and OFAC risk assessments (including products/services, customers, geographies, delivery channels, and emerging threats) and ensure timely action plans and control enhancements. Maintain and update BSA/AML/OFAC policies, procedures, and program documentation, incorporating regulatory changes, examination findings, model/monitoring changes, and operational improvements. Develop meaningful management information (MI), key risk indicators (KRIs), and key performance indicators (KPIs) that provide insight into program effectiveness, workload, timeliness, quality, and emerging risks. Prepare clear, actionable reporting and presentations for Senior Management and the Board of Directors (or designated committee), including program metrics, significant issues, SAR trends/themes, and remediation progress. Partner with Compliance, Risk, Legal, Operations, IT, and business lines to drive consistent implementation of controls and resolve cross-functional issues. Audit, Exam & Issue Management Serve as a primary point of coordination for BSA/AML/OFAC audits, independent testing, and regulatory examinations, including pre-exam planning, document requests, interviews, and onsite/remote support. Own and manage corrective action plans for BSA/AML/OFAC findings, matters requiring attention (MRAs), and internal issues, including root cause analysis, remediation design, validation, and sustainable closure. Support model/monitoring validations and ongoing tuning/testing activities for AML and sanctions screening systems, in partnership with internal stakeholders and third-party vendors as applicable. Training, Advisory & Culture of Compliance Enhance and maintain a comprehensive BSA/AML/OFAC training program tailored to job roles and risk exposure, including new hire training, annual training, targeted training, and Board/Senior Management updates. Serve as a trusted advisor to frontline teams and bank leadership on BSA/AML/OFAC risk, red flags, escalation expectations, and control requirements. Promote a culture of compliance, curiosity, and continuous improvement by encouraging sound judgment, healthy challenge, and consistent documentation. People Leadership & Development Lead, coach, and develop a team of approximately 10 BSA/AML professionals, including goal setting, performance management, training plans, and succession planning. Set clear expectations for quality, timeliness, documentation, and risk-based decision making across program activities (e.g., CTRs, CDD/EDD, investigations, SARs, and OFAC escalations). Support hiring, onboarding, workload planning, and workflow optimization to ensure adequate coverage and scalable operations as the Bank grows. Provide hands‑on leadership and a willingness to wear many hats, stepping into operational needs while maintaining program oversight and strategic direction. Qualifications Competencies Honesty, Integrity, and Ethics: Demonstrates sound judgment, independence, and a strong ethical foundation. Accountability: Takes ownership of outcomes, follows through on commitments, and drives issues to closure. Analytical/Investigative Thinking: Identifies patterns, assesses risk, and documents conclusions clearly and defensibly. Leadership: Coaches and develops others; builds an engaged, high‑performing team. Collaboration and Influence: Partners effectively across business lines and support functions; communicates expectations clearly. Adaptability: Navigates change, ambiguity, and competing priorities with focus and resilience. Communication: Produces clear written work (including SAR narratives) and communicates effectively with all levels of the organization. Continuous Improvement: Seeks opportunities to improve processes, controls, training, and reporting through feedback and data. Skills/Knowledge/Abilities Required 7–10 years of progressively responsible experience within a BSA/AML program at a bank or other financial institution. Bachelor’s degree in Business Administration, Finance, Accounting, or a related field (or equivalent combination of education and experience). Demonstrated ability to implement and manage a practical, risk‑based approach to BSA/AML/OFAC compliance. Strong investigative mindset and intellectual curiosity with the ability to ask the right questions, identify root causes, and pursue effective solutions. Proven ability to manage multiple priorities in a dynamic environment while maintaining high standards for quality and regulatory defensibility. Strong written and verbal communication skills, including the ability to synthesize complex topics for Senior Management and the Board of Directors. Experience leading, developing, or mentoring individuals/teams (direct people management experience preferred). Preferred Professional certification such as CAMS or CFCS (preferred, not required). Experience managing AML and sanctions screening systems, including alert workflows, rule tuning, or model validation support. Experience supporting multi‑state banking operations and working with regulators or examination teams. This job description does not constitute an exhaustive list of responsibilities and management may revise at any time. #J-18808-Ljbffr