Job Description

Job Title: BSA & Compliance Manager

Reports To: Chief Financial Officer

Job Overview

The BSA & Compliance Manager is responsible for coordinating the development, implementation, and administration of all aspects of the Bank Secrecy Act compliance program as well as being responsible for the Bank’s regulatory compliance and general banking regulations. This position will develop policies and procedures reflective of the programs analysis, monitoring, testing and reporting for the Anti-Money Laundering Program to ensure the Bank achieves compliance with all state and federal laws and regulations related to the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering, and OFAC. This role will also accomplish the assigned regulatory compliance through monitoring regulatory change, preparation of compliance risk assessments, addressing compliance issues uncovered during the risk assessments and regulatory exams, coordination with business function leaders and driving follow-up on recommendations. The BSA Officer will report to this position. This position reports to the Chief Financial Officer.

BSA Responsibilities

• Coordinate and oversee an effective BSA/AML/OFAC Compliance Program that is in line with current regulatory guidance and requirements.
• Develop, implement, and administer the BSA/AML/OFAC/USA Patriot Act monitoring systems to ensure appropriate parameters are in place to properly identify suspicious activity.
• Establish and maintain effective EDD Risk Rating and monitoring schedules to properly identify and monitor Higher Risk Customers.
• Ensure the Anti-Money Laundering program and the BSA/CIP/OFAC policies that it contains are in compliance.
• Oversee BSA/AML and OFAC Risk Assessments as appropriate considering all applicable products, services, customer, and geographies.
• Ensure all regulatory reporting is conducted in a timely, accurate, and compliant manner, including the filing of CTRs and SARs to FinCEN, as well as FinCEN 314(a) and 314(b) procedures and reporting.
• Ensure training and information is provided to the Board of Directors including any developments within the industry, and changes to laws and regulations pertaining to BSA/AML/OFAC/USA Patriot Act.
• Complies with all Bank policies and procedures.

Compliance Responsibilities

• Provide guidance to the Board of Directors, Senior Management, Staff and Employees on Bank compliance requirements.
• Plan, develop, oversee, and conduct compliance risk assessments and compliance reviews.
• Analyze, summarize and communicate current regulatory and organizational compliance development to department leaders and coordinate efforts to ensure policies, procedures, forms and training meeting all new and amended requirements and deadlines.
• Monitor the compliance efforts within the appropriate departments to ensure appropriate resources are directed to the compliance program.
• Oversee the creation and execution of the compliance monitoring schedule.

• Support the Bank’s efforts on all compliance audits including advance preparation, coordination of all information between business units and examiners during the audit, follow up on findings and development of written responses.
• Review marketing/advertising, training materials, and pricing/fee structure changes prior to publication.
• Direct the development and implementation of appropriate testing processes and methodologies, including determination and evaluation of compliance monitoring exception results, designed to ensure compliance with all applicable laws and regulations.

Requirements

• Bachelor’s degree in business preferred, or equivalent work experience.
• Minimum of 7 years’ experience in BSA/AML at a bank.
• CAMS and/or CRCM Certification preferred.
• Strong presentation and verbal communication skills.
• Ability to handle multiple tasks and deadlines.
• Strong organizational, planning and analytical skills.
• Embodiment of our company culture and core values.

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