Nevada Society of CPAs

BSA Officer

Spotlight Preferred
Mission National Bank
San Francisco, California, United States
28 days ago

Description

POSITION SUMMARY:

The BSA Officer is responsible for the implementation and administration of all aspects of the Bank Secrecy Act Compliance Program. 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.  Advises the Board, Senior Management and Bank Personnel of emerging compliance issues and consults and guides the Bank in the establishment of controls to mitigate risks.

Ensuring the department activities run smoothly and efficiently by providing leadership, training and supervision with the department. The position of BSA Officer performs direct supervisory duties of assigned department staff, coordinates staff for coverage in assigned areas of the department, and is required to be fully knowledgeable and skilled in all area of the department.

Essential Duties and Responsibilities:

1. Assumes responsibility for the effective and professional completion of assigned BSA Manager function:

  • Implements and administers all aspects of the Bank Secrecy Act Compliance Program; assists independent, state and federal regulator auditor inquires; reviews and writes BSA, AML, OFAC and CIP related policies and procedures; makes recommendations to the Senior Management when and where appropriate.
  • Responsible for coordinating and communicating with customers regarding site-visits. This position is also responsible for conducting site-visits of customers (in-state and out of states).
  • Performs daily review, monitoring and analysis of various reports, logs and transaction data to identity trends, unusual activity and monitor large currency activity: determines 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 transfer, monetary instrument sales, new account openings, etc.
  • Performs quarterly and semi-annual EDD reviews and write detailed analysis reports of high-risk accounts based on information gathered or derived from customers account activities.
  • Completes and files Suspicious Activity Reports (SARs) ensuring they are properly documented with related narrative and supporting documentation.
  • Provides maintenance, follow-up and timely response to the Bank’s OFAC system and FinCEN314 (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.
  • Oversees actions comprehensive self-testing, independent third party and regulatory audits; makes necessary preparations for such audits or exams’ assist in coordination responses to external auditors and regulatory examiners; ensures deficiencies identified from such audits and examinations are corrected.
  • Reviews account opening reports for CIP compliance and accuracy; maintains database of missing information for follow up by branch personnel; identifies, monitors and tracks high customers and accounts.
  • 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.
  • Reviews and recommend for approval or declines requests for exempt person filings; files approved documentation for exemptions’ performs annual review of exempt persons.
  • Ensures compliance with all applicable reporting and recordkeeping requirements and timely distribution of related materials and publications to designated personnel.
  • Conducts BSA, AML, OFAC and CIP training presentations and exercises with all Bank personnel, including material presented to employees during the new hire orientation process.
  • Assist or Responds to inquiries or refers inquiries to the appropriate department or person, and exhibits the necessary follow through with customers and/or staff involved.
  • Provides supervision and support to all area of the department where service or assistance is needed; oversees activities of assigned department personnel; opens and closes the department.
  • Monitors BSA staff in daily tasks, operations and quality control; ensures the organization of assigned areas of the department, coordinating available resources (e.g., staff materials, etc.) for maximum results.
  • Consistently applies superior decision making techniques pertaining to inquiries, approvals and requests as they apply to existing policies and procedures, keeping within assigned approval limits.
  • Assumes responsibility for special projects; gathers data and prepares reports for Senior Management, audits and other personnel.
  • Plays a positive role in the development and growth of assigned department staff through excellent communication skills, both verbal and written, along with strong delegation skills assuring a highly cross-trained staff.
  • Performs personnel actions including performance appraisals, disciplinary actions, and interviewing candidates for employment; supervisors the daily activities of the department including, but not limited to effective delegation of assignments, developing work schedules and proving necessary training.
  • Processes, solves and answers complex customer transitions, problems or inquiries.
  • Assumes Responsibility for various department functions in the absence of staff members of in overload situations.
  • Assures compliance with all Bank policies, procedures and processes, and all applicable state and federal banking laws, rules and regulations; adheres to Bank Secrecy Act (BSA) responsibilities that are specific to the position.

2. Assumes responsibility for establishing and maintaining effective communication, coordination, and working relations with Company personnel and with management.

  • Assists bank personnel with related BSA compliance issues or questions.
  • Keeps management informed of area activates and of any significant problems.
  • Attends and participates in meetings as required.
  • Completes requires reports and records.

3. Assumes responsibility for related duties as required or assigned.

  • Maintains proficient knowledge of the rules and regulations, including but not limited to, the Bank Secrecy Act, USA Patriot AT, and OFAC.
  • Completes special projects assigned.
  • Ensures that work area is clean, secure, and well maintained.
  • Completes all required assigned training in a timely manner.
  • Maintains secrecy of confidential information regarding BSA related issues
  • Other duties as assigned.


Requirements

Qualifications:

Education/Certification:  Bachelors’ degree in finance, accounting, business, or a related field; or 5 years of related experience and /or training; or the equivalent combination of education and experience. Work related experience should consist of an in-depth background in Bank Secrecy Act compliance, anti-money laundering analysis and supervisory skills. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be applicable to the financial industry. Professional accreditation such as a Certified Regulatory Compliance Manager (CRCM), Certified Internal Auditor (CIA), Certified Risk Professional (CRP), and Certified Anti-Money Laundering Specialist (CAMS) is preferred.

Required Knowledge:   Advanced knowledge of related state and federal banking compliance regulations, Bank operational policies and procedures, and the Bank’s products and services. Intermediates experience, knowledge and training in all bank operation and lending activities and terminology.

Experience Required: Five or more years of BSA Officer or related experience in commercial bank.

Skills/Abilities:  Excellent problem solving skills; strong analytical skills; strong writing skills.

Job Information

  • Job ID: 59625900
  • Location:
    San Francisco, California, United States
  • Position Title: BSA Officer
  • Company Name: Mission National Bank
  • Industry: Banking
  • Job Function: Other
  • Job Type: Full-Time
  • Min Education: BA/BS/Undergraduate
  • Min Experience: 5-7 Years
  • Salary: $150,000.00 - $165,000.00 (Yearly Salary)
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