SVP BSA OFFICER

Commonwealth Business Bank; Los Angeles (CA); On-site; USD 150,000 - 160,000; Full time

Job summary

Commonwealth Business Bank is seeking an SVP BSA Officer in Los Angeles, CA to lead the bank’s BSA/AML, OFAC, and CIP programs. The role manages daily research and analysis of account activity to identify suspicious behavior and file SARs as needed.

The position reports to Board and Senior Management and ensures regulatory compliance and training across the organization. The ideal candidate has a Bachelor’s degree (Master’s preferred) and at least 7 years in financial institution

Qualifications

• Bachelor’s degree from accredited 4-year University required.
• Minimum of 7 years’ experience in a Financial Institution dealing with Compliance/BSA and/or audit experience.
• BSA/AML or branch operations experience highly preferred.

Responsibilities

• Oversees all aspects of the corporate-wide Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) programs.
• Review laws and regulations that impact the bank compliance requirements.
• Analyzes account transactions utilizing the BSA tracking software and data processing system.
• Prepares BSA package for Management Committee meeting.
• Provides branch and customer support on inquiries on day-to-day issues related to Ops Admin and BSA.
• Analyzes complex transactions in identification of suspicious account activity.
• Responsible for providing training to all investigators in order to comply with regulatory requirements and changes in law.
• Responsible for establishing, implementing and ensuring that BSA training is delivered for all bank employees and the Board of Directors.
• Ensures that all deadlines are met as required by law.
• Reviews account related legal documents as necessary.
• Reviews various reports to identify transaction patterns.
• Analyzes account data to determine the level of risk associated with each account and recommending a risk rating.
• Maintains BSA and OFAC risk Assessments.
• Ensures effective programs are in place for CDD, KYC, AML, OFAC, Transaction monitoring, CTR’s, Suspicious Activity monitoring and reporting.
• Investigating possible suspicious activities and filing SAR’s as necessary.
• Ensure BSA/OFAC related policies and procedures are current and complete.
• Analyze transactions to determine if they are suspicious in nature and take appropriate action and maintain proper documentation.
• Responsible for OFAC and required annual reporting to OFAC.
• Responsible for FinCEN 314(a) list search request
• Responsible for FinCEN 314(b) request/response
• Prepares SARs/CTRs filed report to the Board of Directors
• Reviews and tracks CTRs for properly filing
• Comply fully with all Bank policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Anti Money Laundering, Code of Conduct, and etc.). Must complete all required training

Skills

BSA/AML

OFAC

CIP

Regulatory compliance

Analytical skills

Education

Bachelor’s degree

Master’s degree desired

Tools

BSA tracking software

Job description

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

SVP BSA OFFICER

Full Time Los Angeles, CA, US

2 days ago Requisition ID: 1110

Salary Range: $150,000.00 To $160,000.00 Annually

POSITION OVERVIEW

This position is responsible for the direct management of the department. Knowledge of bank operations is necessary to provide management and guidance. This position conducts daily research and analysis of bank wide customer new account and transaction activity across all business lines to determine suspicious activity and files Suspicious Activity Reports (SARs) as needed. Also, responsible for performing & suspicious activity investigation & anti-laundering enhanced due diligence. This includes BSA (Bank Secrecy Act), OFAC (Office of Foreign Assets Control), and CIP (Customer Identification Program). This position is also responsible to directly report to the Board and Senior Management on any BSA related matters within the bank, issues, and changes/updates to regulations.

POSITION RESPONSIBILITIES:

• Oversees all aspects of the corporate-wide Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) programs
• Review laws and regulations that impact the bank compliance requirements
• Analyzes account transactions utilizing the BSA tracking software and data processing system
• Prepares BSA package for Management Committee meeting
• Provides branch and customer support on inquiries on day-to-day issues related to Ops Admin and BSA
• Analyzes complex transactions in identification of suspicious account activity
• Responsible for providing training to all investigators in order to comply with regulatory requirements and changes in law
• Responsible for establishing, implementing and ensuring that BSA training is delivered for all bank employees and the Board of Directors
• Ensures that all deadlines are met as required by law
• Reviews account related legal documents as necessary
• Reviews various reports to identify transaction patterns
• Analyzes account data to determine the level of risk associated with each account and recommending a risk rating
• Maintains BSA and OFAC risk Assessments
• Ensures effective programs are in place for CDD, KYC, AML, OFAC, Transaction monitoring, CTR’s, Suspicious Activity monitoring and reporting
• Investigating possible suspicious activities and filing SAR’s as necessary
• Ensure BSA/OFAC related policies and procedures are current and complete
• Analyze transactions to determine if they are suspicious in nature and take appropriate action and maintain proper documentation
• Responsible for OFAC and required annual reporting to OFAC
• Responsible for FinCEN 314(a) list search request
• Responsible for FinCEN 314(b) request/response
• Prepares SARs/CTRs filed report to the Board of Directors
• Reviews and tracks CTRs for properly filing
• Comply fully with all Bank policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Anti Money Laundering, Code of Conduct, and etc.). Must complete all required training

SKILLS / QUALIFICATIONS:

• Maintain high standards of confidentiality and security
• Must possess good computer, written and oral communication skills
• Well-organized, analytical and capable of performing multiple tasks
• Ability to prioritize and use a sound judgment is required
• BSA/AML or branch operations experience highly preferred
• Ability to time management skills

EDUCATION / EXPERIENCE:

• Bachelor’s degree from accredited 4-year University required. Master’s degree desired
• Minimum of 7 years’ experience in a Financial Institution dealing with Compliance/BSA and/or audit experience
• BSA/AML or branch operations experience highly preferred

We offer a competitive total rewards package, including but not limited to Medical, Dental, Vision, and Life Insurance, 401k retirement savings plan, and paid federal holidays, for this full-time position within the annual salary range of $150,000 - $160,000. Annual pay ranges are determined based on qualifications, level, and location. Exact compensation may vary based on your skills and experience.

Must be authorized to work in the US.

We are an Equal Opportunity Employer. All applicants will receive consideration for employment without regard to race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender identity, gender expression, genetic information, or military or Veteran status, or any other characteristic protected by law.