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BSA OFFICER JOB DESCRIPTION
REPORTS TO EVP, COMPLIANCE OFFICER/COUNSEL
BASIC QUALIFICATIONS
Education/Training: Bachelor’s degree preferably in business, management, or related field;
specialized BSA/AML/OFAC training. Certified Anti-Money Laundering Specialist, CAMS
designation preferred, bank will help you attain this certification if you possess currently.
Skill(s): Complete comprehension and familiarity with BSA/AML/OFAC/USA Patriot Act
regulatory environment; fully knowledgeable of all Bank policies and procedures; excellent written,
verbal, interpersonal, and analytical skills; excellent project and time management skills; strong
computer skills including working knowledge of Word, Excel, and Internet applications; familiarity
with BSA/AML software. Must be able to assist attorney in the preparation of documentation in
response to inquiries from law enforcement, regulatory agencies, courts and outside consultants.
Experience: Minimum of seven years’ experience in the banking industry, with minimum four years
in BSA area.
GENERAL RESPONSIBILITIES
Responsible for maintaining and administering the Bank’s BSA/AML program to ensure compliance with
the Bank Secrecy Act, USA Patriot Act, and all other Anti-Money Laundering (AML) and Office of Foreign
Assets Control (OFAC) laws and regulations; supports the Bank Secrecy Act training effort for the Board of
Directors, appropriate management, and staff personnel; participates in briefings of management and staff on
BSA/AML compliance issues and responds to BSA/AML questions. Accepts the responsibility for the
identification, measurement, and monitoring of BSA/AML/OFAC risks.
ESSENTIAL DUTIES
1. Manages the BSA Department to ensure the Bank’s compliance with all BSA/AML/OFAC/USA
Patriot Act related federal, state, and local laws and regulations by performing the following:
a. Maintains, reviews, and updates the Bank’s BSA/AML Program, policies, and procedures.
Ensures that they are updated when changes to regulations and laws are made.
b. Assesses the impact of new or amended BSA/AML laws and regulations and their
implications for Bank policies and procedures in conjunction with Compliance
Officer/Counsel; coordinates implementation.
c. Performs an annual BSA risk assessment to identify and measure BSA/AML and OFAC
risks associated with products and services offered by the Bank. Advises management on the
development of policy, procedures, systems, controls, and training to address those risks.
Prepares and utilizes Money Laundering Report to facilitate this process.
d. Maintain communication with regulators, internal auditors, and independent monitoring
functions. Under direction of counsel, ensures that all internal audit functions, regulatory,
and law enforcement agencies requests, findings and recommendations are complied with in
a timely manner under direction of Compliance Officer/Counsel.
e. Conducts reviews of customer accounts using applicable software and other transaction
monitoring processes to analyze and investigate suspicious or unusual customer activity for
identified medium and higher risk customers independently.
f. Conducts customer due diligence and risk assessment analysis of personal and commercial
customer relationships. Conducts enhanced due diligence reviews for customers identified as
higher risk.
g. Investigate and research ACH, wire, or any check irregularities found by Operations,
facilitate efficient process for investigations and file SARs, if necessary.
h. Review suspicious activity detected by the use of automated system reports, referral by
branch personnel or others and report unusual activities in the form of a Suspicious Activity
Report (SAR) filing.
i. Ensure that 314(a) requests, Currency Transaction Reports (CTRs) and SARs are completed
accurately and completely and filed with FinCEN on time. Serve as point of contact in
FinCen secure information sharing 314(b).
j. Maintain ongoing development and maintenance of the Bank’s automated AML software.
Review effectiveness of automated system reports and recommend changes or modifications,
if necessary.
k. Respond to BSA related questions, issues, and concerns from all department managers, bank
officers, and employees.
2. Develop, maintain, and coordinate a BSA/AML and OFAC training program. Maintains all
BSA/AML and OFAC training records.
a. Performs BSA/AML and OFAC training for new hire personnel and ongoing BSA/AML and
OFAC training and education for appropriate management and staff personnel as needed.
b. Performs annual Board of Directors BSA/AML and OFAC training. Provides BSA/AML
updates to the Board when needed.
3. Monitors BSA/AML industry developments and maintains advanced knowledge of new and
amended laws and regulations impacting the Program and Risk Assessment.
4. Organizes the work and activities of the BSA group in order to achieve established goals; monitors
the efficiency and performance of the group versus established standards.
5. Prepares and reports developments on significant BSA matters to the Regulatory Compliance
Committee, leads weekly BSA group meetings.
6. Assists in overall Bank security.
Compliance:
It is expected that each employee:
• Abides by current laws and organizational policies and procedures designed and implemented to
promote an environment, which is free of sexual harassment and other forms of illegal
discriminatory behavior in the work place.
• Cooperates with, participates in and supports the adherence to all internal policies, procedures and
practices in support of risk management and overall safety and soundness and the Bank’s
compliance with all regulatory requirements.
• Complies with established operating policies and procedures in order to maintain adequate controls
and to support the Bank’s adherence to outside regulatory requirements.
It is understood that complying with all applicable safety and soundness and consumer compliance laws and
regulations, taking the annually required consumer compliance courses, and adhering to the policies and
procedures that facilitate compliance will all be factors considered when evaluating individual performance.
Individual performance is rewarded in annual salary adjustments as well as cash incentive bonus, per regulatory recommendations.
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