BSA/AML & OFAC Compliance Director

Needham Bank; Wellesley (MA); Hybrid; USD 116,000 - 163,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

HRA

401(k) plan with match

Paid time off

Paid holidays

Bonus program

Flexible spending accounts

Vision plan

Life insurance

Short/Long-term disability insurance

Tuition reimbursement

Employee Assistance Program

Job summary

Needham Bank is seeking a Bank Secrecy Act Officer in Massachusetts to lead the BSA/AML/OFAC program, reporting to the Chief Risk Officer. You will develop and maintain the BSA/AML program, policies, and risk assessments, and oversee onboarding, monitoring, SAR/CTR filings, and regulatory liaison with law enforcement and regulators.

The role emphasizes leadership, training, and collaboration with management, auditors, and vendors to strengthen financial crime controls.

Qualifications

• Bachelor's Degree or its equivalent plus specialized course work and training.
• Minimum of 10+ years demonstrated BSA/AML Compliance experience in financial services.

Responsibilities

• Develops and maintains Needham Bank’s Compliance Program, Policies, and risk assessments for BSA/AML/OFAC regulations.
• Oversees onboarding and monitoring program, SARs and CTR filings.
• Establishes KYC/CIP and due diligence processes; ensures vendor and customer risk reviews.
• Provides strategic direction on current and emerging BSA/AML risks.
• Leads and coaches the BSA/AML team to higher performance.
• Maintains regulatory knowledge and communicates developments to management.
• Acts as primary liaison with law enforcement and regulators.

Skills

BSA/AML knowledge

Leadership

Regulatory communication

Training & coaching

Education

Bachelor's Degree

Job description

Needham Bank is seeking a Bank Secrecy Act Officer in Massachusetts to lead the BSA/AML/OFAC program, reporting to the Chief Risk Officer. You will develop and maintain the BSA/AML program, policies, and risk assessments, and oversee onboarding, monitoring, SAR/CTR filings, and regulatory liaison with law enforcement and regulators.

The role emphasizes leadership, training, and collaboration with management, auditors, and vendors to strengthen financial crime controls.