Risk Analyst/BSA Officer

Decorah-Bank-; Decorah (IA); On-site; USD 65,000 - 90,000; Full time

Job summary

Decorah Bank & Trust in Decorah, IA is seeking a full-time Risk Analyst/BSA Officer to develop and oversee the Bank's BSA/AML program and strengthen compliance culture. The role supports governance, risk management, and regulatory initiatives, with emphasis on day-to-day management and reporting.

The position requires implementing training, monitoring regulatory changes, and collaborating with management to address risk, controls, and SAR/OFAC activities, in-office with potential for occasional

Qualifications

• Attention to detail and accuracy in handling regulatory tasks.
• Knowledge of Bank Secrecy Act (BSA) and AML concepts.
• Experience with BSA/AML training and risk assessment processes.
• Proficiency with Excel and basic word processing.
• Ability to interpret regulatory guidance and communicate findings.

Responsibilities

• Maintain and implement the Bank’s BSA/AML program.
• Monitor BSA/AML regulations and report developments to leadership.
• Develop and facilitate BSA/AML training.
• Assess BSA/AML risks and recommend policy and control enhancements.
• Manage BSA/AML software, risk ratings, and reporting.
• Perform due diligence reviews for specific entities and activities.
• Prepare year-end board reports and SAR documentation.
• Coordinate OFAC and 314(a) activity and data scrubs.
• Assist with vendor management documentation and third-party reviews.
• Process garnishments, levies and subpoenas per regulations.

Job description

Description

Decorah Bank & Trust

Leadership & Service to Others * Growth Mindset * Teamwork * Have Fun!

Our Compliance Department is growing, and we are excited to add a full-time Risk Analyst/BSA Officer to our team. If you are passionate about helping build and maintain a strong compliance culture, this may be the perfect opportunity for you.

This position is responsible for developing, implementing, and administering all aspects of the Bank's BSA/AML program, including providing strategic direction designed to support organizational growth, leadership, and day-to-day management. In this role, you will help strengthen the Bank's compliance culture while supporting key risk management and regulatory compliance initiatives.

This role is also responsible for assisting the bank, to the best of the employee’s abilities, in complying with applicable state and federal banking rules and regulations as they pertain to this position including, but not limited to, the Bank Secrecy Act. Must embrace and uphold the bank’s Code of Conduct, Core Values, and Service Standards.

Essential Duties and Responsibilities

• Responsible for maintaining and implementing Bank’s BSA/AML program.
• Maintains a current knowledge of the Bank Secrecy Act and all related AML and OFAC regulations. Monitors legislative and regulatory developments and reports important developments to management, Board of Directors and other bank personnel as applicable.
• Develop and facilitate BSA/AML training program.
• Identify and measure BSA/AML risks associated with products and services offered, make recommendations to management on policies, procedures, systems, controls and training to address those risks.
• Responsible for BSA/AML software, including set up of risk ratings, scenarios, periodic parameter testing, and maintenance. Monitoring and working cases generated in BSA/AML software and reports significant findings to management.
• Perform and document due diligence reviews for money service businesses, marijuana related businesses, and private ATMs.
• Compiles information for year-end annual Board report and Suspicious Activity Report (SAR) reporting.
• Responsible for OFAC and 314(a) database scrubs, alternating with the Risk Analyst.
• Assists with tracking and filing contracts/documents for Third Party Management and keeping the vendor spreadsheet up to date.
• Processes garnishments, levies and subpoenas in accordance with regulations and maintains accurate records.
• Compiles information for monitoring, risk assessments, scorecards, board reports, exams, audits, etc.
• Provides assistance to the Risk Officer with additional duties as assigned.

Miscellaneous

Assist and support other bank functions outside the normal scope of duties as needed to contribute to the overall success of the organization.

Supervisory Responsibilities

This role currently has no supervisory responsibilities.

Reasonable Accommodations Statement

To accomplish this job successfully, an individual must be able to perform, with or without reasonable accommodation, each essential function satisfactorily. Reasonable accommodations may be made to help enable qualified individuals with disabilities to perform the essential functions.

Requirements

This position requires attention-to-detail, computer skills which may include Excel and Word and be able to demonstrate the ability to learn specific computer programs required of the position. This position must be able to handle unplanned interruptions and be able to meet deadlines.

This role is an in office role, housed in our downtown Decorah location, with potential for occasional remote work upon completion of training.

Education and/or Experience

• Associate degree preferred; High school diploma or general education degree (GED) required. 6 months banking experience preferred.

Language Skills

• Ability to read and comprehend simple instructions, short correspondence, and memos. Ability to write simple correspondence.
• Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization.

Mathematical Skills

• Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.

Reasoning Ability

• Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.
• Ability to deal with problems involving several concrete variables in standardized situations.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• While performing the duties of this job, the employee is frequently required to sit and talk or hear.
• Occasionally required to walk.
• Occasionally lift and/or move up to 10 pounds.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• The noise level in the work environment is usually moderate.
• Exposed to potentially hazardous condition - robbery.