BSA / AML Specialist
Oversee and manage the on-boarding requirements of consumer and commercial customers to ensure regulatory compliance with CIP, OFAC and Customer Due Diligence/Beneficial Ownership. Assist the Bank in detecting and reporting illegal or fraudulent activity in a timely manner in an effort to safeguard the bank and its customers from losses due to fraud.
Essential/Primary Job Functions:
- Primary contact for all employees concerning CIP requirements and various systems utilized by the bank.
- Work closely with branch and lending staff to field questions surrounding regulatory compliance and required monitoring and reporting.
- Conduct CIP, OFAC and Customer Due Diligence/Beneficial Ownership reviews of all new accounts to ensure compliance with regulations, bank polices and procedures.
- Conduct quarterly reviews of Qualifile to ensure that opening account personnel make proper override comments to ensure compliance with bank procedures and verify that Account Denials are completed and archived properly.
- Conduct quarterly reviews of Official Check logs, Travelers Check logs, Wire logs, and Branch Cash Activity for suspicious activity and to ensure compliance with bank policies and procedures.
- Assist with preparation for regulatory audits and exams.
- Participate in all types of training to include face to face, webinars, seminars, etc., to stay current on all regulatory issues.
- Lead/assist in training and preparation of training materials as needed for the bank and its subsidiaries/divisions.
- Complete annual and ad hoc training as required.
- Assist the BSA Officer with special projects and system implementation as requested.
- Operate all systems and software necessary to stay in compliance with BSA.
Secondary Job Functions:
- Review and analyze all alerts and cases created within the Verafin AML software system.
- Review and analyze all alerts created within FraudMap for monitoring customer online and mobile activity.
- Review and file Currency Transaction Reports through Verafin and BSA E-Filing
- Prepare Suspicious Activity Reports for filing as requested.
- Work in coordination with the BSA Officer, Information Security Officer and Electronic Banking concerning fraud issues.
- Process OFAC alerts generated by the Verafin AML software system and the FIS eFunds/Penley system.
- Field OFAC questions from all areas of the bank to include subsidiaries and division.
- Review all Suspicious Activity Investigation Reports (SAIRs) generated by all departments within the bank to include subsidiaries and divisions and prepare for filing by BSA Officer.
- Review customer accounts associated with subpoena requests received from various entities for suspicious activity.
Complete specific cash structuring reviews conducted with the Verafin AML
- Responsible for compliance with all regulations, laws, and bank policies and procedures that pertain to your day-to-day job responsibilities.
- Responsible for maintaining a working knowledge of all compliance regulations pertinent to your assigned duties by successful completion of any courses assigned on a timely basis.
- Responsible for participating in BrandBank’s community development program at least one day each year.
- Responsible for adherence to BrandBank’s Code of Professional Ethics and Conduct as well as observing and promoting compliance with the Code among fellow bank personnel, customers and vendors.
Job Requirements for Essential/Primary Job Functions:
- Demonstrated ability to organize, plan and identify priorities
- Demonstrated ability to work independently, effectively and efficiently under pressure
- Exceptional oral and written communication skills (clear, concise, correct)
- Ability to meet schedules and deadlines with thorough, accurate and quality work products
- Computer and database applications skills
- Effective decision-making and problem-solving skills
- In-depth analytical skills
- Ability to take initiative and demonstrate creativity and innovation
- Previous experience with AML software systems
- Willingness to participate in annual continuing education related to BSA/AML compliance
- Three or more years experience in BSA/AML, CIP, OFAC, FinCEN, and fraud investigations
- Three or more years experience in retail, lending, and operations
- Knowledge of BSA/AML banking laws and regulations
- Certified Anti-Money Laundering Specialist (CAMS) or Certified Fraud Examiner (CFE) preferred
- Bachelor’s degree or the equivalent in work experience preferred