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Bank Secrecy Act (BSA) Officer
Grafton, WI
Job Description
Port Washington State Bank is a family-owned and operated company with eight locations and 140 employees. We're proud to say we've been in business since 1899. More than 120 years later, we’re still family-owned and operated. We are constantly working to build a culture that embodies community and people first. We're proud to have been nominated a Journal Sentinel Top Workplace 12 times in a row by a survey of our own employees. We also believe in building up our communities. Last year alone we invested more than $500,000 in 150-plus non profits. And beyond donations, our employees use volunteer time off to serve causes and organizations that make Ozaukee County a great place to live, work and play. Paired with a carefully researched and benchmarked benefits package, we’re confident you’ll feel at home here. Learn more about what we offer at https://pwsb.bank/careers.
We are currently looking for an experienced BSA Officer to join our team. The Bank Secrecy Act (BSA) Officer is responsible for coordinating the development, implementation and administration of all aspects of the Bank Secrecy Act (BSA) Compliance Program. This position monitors compliance with state and federal Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering (AML), and OFAC laws and regulations. Hybrid options are available.
Responsibilities:
• Develop, revise, implement, and enforce the Bank’s BSA/AML/OFAC Compliance Program including OFAC, USA PATRIOT Act, and FinCEN regulations
• Completing the annual BSA/AML OFAC risk assessment to identify and measure BSA/AML and OFAC risks associated with products and services offered by the financial. Advises management on the development of policy, procedures, systems, controls, and training to address those risks
• Provide a copy of the risk assessment to Senior Management for review and consideration by the Board
• Leads, trains and supervises the BSA/AML team. Administration of BSA/AML/OFAC-related training programs to Board, management, and employees
• Develops and revises policies, procedures, and other documentation in support of the administration of the BSA program
• Oversee, enhance, develop, implement, and administer the BSA/AML/OFAC monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity
• Analyze data and reports produced from the system, branches, and other departments to identify and risk rate customer accounts
• Manages exempt person filings for CTR purposes
• Oversee comprehensive case investigations. Recommend SAR filing to BSA Committee
• Oversee the completion of the SAR form when a case investigation results in a SAR recommendation
• Recommending customer relationship closures, case escalations or case referrals as appropriate
• Development, scoping, and prioritization of the BSA Compliance monitoring calendar
• Ensure all required regulatory reporting is conducted in a timely, accurate, and compliant manner, including the filing of Currency Transaction Reports (CTRs) and SARs to FinCen as well as 314(a) and 314(b) procedures and reporting
• Oversee processes for collecting customer information and appropriately perform reviews of elevated customer relationships, SAR & CTR filings, and Money Service Businesses (MSB) for an effective Customer Due Diligence (CDD)/Enhanced
• Oversee and Conduct Due Diligence (EDD) risk and monitoring program
• Monthly statistics reports for the Board of Directors (Board)
• Act as primary liaison/contact for examinations and external independent audits in relation to the BSA/AML/OFAC Compliance programs. Prepare response to exam and audit concerns while overseeing corrective action of all BSA-related, compliance deficiencies or violations
Qualifications:
Bachelor’s degree and 3+ years of BSA/AML, banking compliance or audit related experience, or equivalent combination of education and experience
EDD/KYC/SARS/OFAC/CTR experienced required
Previous experience leading a BSA/AML team
Knowledge of current regulatory requirements and proven research skills
Certified Anti-Money Laundering Specialist (CAMS) designation preferred
Maintains proficient knowledge of the rules and regulations
Equal Opportunity Employer: Minorities, Women, Veterans, Disabilities
We are currently looking for an experienced BSA Officer to join our team. The Bank Secrecy Act (BSA) Officer is responsible for coordinating the development, implementation and administration of all aspects of the Bank Secrecy Act (BSA) Compliance Program. This position monitors compliance with state and federal Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering (AML), and OFAC laws and regulations. Hybrid options are available.
Responsibilities:
• Develop, revise, implement, and enforce the Bank’s BSA/AML/OFAC Compliance Program including OFAC, USA PATRIOT Act, and FinCEN regulations
• Completing the annual BSA/AML OFAC risk assessment to identify and measure BSA/AML and OFAC risks associated with products and services offered by the financial. Advises management on the development of policy, procedures, systems, controls, and training to address those risks
• Provide a copy of the risk assessment to Senior Management for review and consideration by the Board
• Leads, trains and supervises the BSA/AML team. Administration of BSA/AML/OFAC-related training programs to Board, management, and employees
• Develops and revises policies, procedures, and other documentation in support of the administration of the BSA program
• Oversee, enhance, develop, implement, and administer the BSA/AML/OFAC monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity
• Analyze data and reports produced from the system, branches, and other departments to identify and risk rate customer accounts
• Manages exempt person filings for CTR purposes
• Oversee comprehensive case investigations. Recommend SAR filing to BSA Committee
• Oversee the completion of the SAR form when a case investigation results in a SAR recommendation
• Recommending customer relationship closures, case escalations or case referrals as appropriate
• Development, scoping, and prioritization of the BSA Compliance monitoring calendar
• Ensure all required regulatory reporting is conducted in a timely, accurate, and compliant manner, including the filing of Currency Transaction Reports (CTRs) and SARs to FinCen as well as 314(a) and 314(b) procedures and reporting
• Oversee processes for collecting customer information and appropriately perform reviews of elevated customer relationships, SAR & CTR filings, and Money Service Businesses (MSB) for an effective Customer Due Diligence (CDD)/Enhanced
• Oversee and Conduct Due Diligence (EDD) risk and monitoring program
• Monthly statistics reports for the Board of Directors (Board)
• Act as primary liaison/contact for examinations and external independent audits in relation to the BSA/AML/OFAC Compliance programs. Prepare response to exam and audit concerns while overseeing corrective action of all BSA-related, compliance deficiencies or violations
Qualifications:
Bachelor’s degree and 3+ years of BSA/AML, banking compliance or audit related experience, or equivalent combination of education and experience
EDD/KYC/SARS/OFAC/CTR experienced required
Previous experience leading a BSA/AML team
Knowledge of current regulatory requirements and proven research skills
Certified Anti-Money Laundering Specialist (CAMS) designation preferred
Maintains proficient knowledge of the rules and regulations
Equal Opportunity Employer: Minorities, Women, Veterans, Disabilities
Job Summary
Company
Employment Term and Type
Regular, Full Time
Hours per Week
40
Required Education
Bachelor's Degree
Required Experience
3+ years
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