Location: Hancock,MI, USA
Location:
Can be based out of either the UP or SE market
Department:
Compliance Department
Reports To:
VP/Compliance Officer
Supervises:
Senior BSA/AML Compliance Analyst
LAST UPDATED:
11.18.24
Summary:
Responsible for oversight of the Bank Secrecy Act Compliance Program, including developing, implementing, and administering all aspects of the program. Performs various quality control reviews and monitoring in the area of BSA, USA Patriot Act, AML, OFAC, and Customer Identification Program compliance.
Major Duties & Responsibilities:
* Develop, maintain, and provide oversight of all BSA/AML, OFAC, and USA Patriot Act (CIP) policies, programs, risk assessments, and procedures to ensure compliance with Federal Laws and regulations.
* Provide regular reports of BSA, AML, OFAC, and CIP activity to applicable management committees and the Board of Directors.
* Perform enhanced due diligence and account monitoring/reviews on higher risk customers; document conclusions regarding relationships and activities that demonstrate a robust understanding of the customer to ensure suspicious activity would be identified.
* Maintain appropriate suspicious activity monitoring systems in accordance with regulatory guidelines and industry best practices.
* Oversee, and when necessary, perform duties related to monitoring and reporting of large cash transactions, international and domestic wire transfer activity, and monetary instrument activity.
* Ensure adequate case management records are documented and maintained for all AML, fraud, and related investigations.
* Ensure timely submission of Suspicious Activity Reports for BSA/AML related activities, including accuracy and conformity to FinCEN guidance.
* Assists the Compliance Officer in the administration of independent and federal regulator and auditor examinations and reviews with respect to BSA/AML/OFAC, and other compliance areas, as necessary. This includes coordinating responses to regulatory examinations and internal/external audits and reviews.
* Coordinate and conduct regular bank-wide training of regulatory compliance acts related to BSA/AML/OFAC/CIP, to all employees and the Board of Directors.
* Maintain proficient knowledge of rules and regulations, including but not limited to, the Bank Secrecy Act, USA Patriot Act, OFAC, and lending and deposit-related regulations.
* Perform other duties as assigned.
Professional Expectations:
* Must possess analytical skills and be able to multi-task.
* Must be able to work interactively with all levels of management, auditors, examiners, and law enforcement, while maintaining strict confidentiality.
* Must be proficient in Microsoft Excel and Word.
Education & Experience:
* Bachelor's degree in accounting, business administration, or related field, or equivalent combination of education and/or experience.
* Minimum 10 years' experience in the banking industry of which at least 7 years must be in a BSA, fraud, and/or deposit operations role.
* Managerial experience preferred.