2601-2 BSA Assistant

Tnbankers; United States; On-site; USD 40,000 - 60,000; Full time

Job summary

A regional financial institution is looking for a quality control specialist to ensure compliance with the Bank Secrecy Act and related regulations. Responsibilities include daily monitoring of transactions, development of compliance programs, and preparation of Suspicious Activity Reports. Ideal candidates have a High School Diploma and relevant banking experience along with sharp analytical skills. The position is critical for safeguarding the bank's integrity and requires attention to detail across compliance efforts.

Qualifications

• In-depth background in banking customer transactions is preferred.
• Experience with compliance reviews and regulatory procedures.
• Ability to document investigations and prepare reports.

Responsibilities

• Assist in developing and administering the Bank Secrecy Act Compliance Program.
• Perform daily reviews and monitoring of transaction data.
• Identify and mitigate potential risk issues for the bank.

Skills

Attention to detail

Knowledge of BSA and AML regulations

Analytical skills

Ability to track trends

Education

High School Diploma

Job description

This position performs various quality control reviews and monitoring in the area of Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering, OFAC and Customer Identification Program compliance using industry standard and regulatory guidance sampling methods to ensure the Bank’s compliance efforts are maintained on a daily basis.

Duties include but limited to:

• Assist in developing, implementing and administering most aspects of the Bank Secrecy Act Compliance Program; assists independent, state and federal regulator auditor inquiries; assist in reviews and writing BSA, AML, OFAC and CIP related policies and procedures; maintains knowledge of the rules and regulations, including but not limited to, the Bank Secrecy Act, USA Patriot Act, and OFAC.
• Performs daily review, monitoring and analysis of various reports, logs and transaction data to identify trends, unusual activity and monitor large currency activity; assist in determining if transactions are suspicious in nature, such as kiting, significant changes in balances, cash structuring in deposits, loans payments and certificate of deposit purchases, wire or ACH transfers, monetary instrument sales, etc.
• Provides maintenance, follow-up and timely response to the Bank’s OFAC system and FinCEN 314(a) and (b) lists and inquiries; appropriately responds to positive hits detected by the Bank’s AML or OFAC software system.
• Identifies and mitigates potential risk issues against the Bank; assists in providing BSA, AML, OFAC and CIP compliance support; interacts with Bank personnel pertaining to such issues.
• Completes Suspicious Activity Reports (SAR(s)). Prior to filing a SAR, a thorough investigation is completed. This process includes account review, evaluate duration of activity, suspicious activity monitoring, previous filings, potential risk exposure, etc. Narrative preparation is crucial.
• Assist with actions of comprehensive self-testing; independent third party and regulatory audits; assist in making necessary preparations for such audits or exams;
• Monitors and tracks high risk customers and accounts. Performs high risk customer enhanced due diligence (EDD) reviews as scheduled.
• Reviews Currency Transaction Reports (CTRs) completed by branch personnel for accuracy and filing; reviews daily currency reports to ensure CTR’s have been completed for all reportable transactions.
• Files approved documentation for exemptions; performs annual review of exempt persons.
• Assumes responsibility for special projects; gathers data and prepares reports for Senior Management, audits and other personnel.
• Follows policies and procedures; completes administrative tasks correctly and on time; supports the Bank’s goals and values; benefits the bank through outside activities.

Minimum requirement includes High School Diploma. Work related experience should consist of an in-depth background banking customer transactions deposit related preferred. Educational experience, through in-house training sessions, formal school or financial industry related curriculum should be applicable to the financial industry.

Qualified candidates should submit their resume to [e-mail].