BSA & Deposit Compliance Specialist

Full Time | Onsite

The BSA & Deposit Compliance Specialist is responsible for handling matters falling within the scope of the following topics: Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC), Suspicious Activity Reporting, Financial Crimes Enforcement Network (FinCEN) oversite, and other relevant areas as determined to meet the Bank’s needs. The BSA & Deposit Compliance Specialist will assist in ensuring the Bank is compliant with relevant laws, regulations, and rules; assist with compliance and fraud prevention systems and procedures for the Bank; and review relevant documents to ensure compliance with respect to BSA/AML/OFAC/FinCEN rules, regulations, guidance, and bulletins.

Essential Duties and Responsibilities:

BSA/AML

1. Preparation, tracking, and filing of Currency Transaction Reports (CTR).
2. Prepare or assist in annual CTR exemption reviews
3. Review daily BSA/AML related alerts, decisioning or escalating as appropriate.
4. Review daily/monthly CIP/OFAC/Beneficial Ownership reporting to identify any errors during the account opening process.
5. Review and respond to potential OFAC matches submitted by other areas of the Bank to confirm validity.
6. Conduct monthly and quarterly reviews of new accounts categorized in one of the designated high-risk categories to determine risk level of the account. Prepare and retain documentation of reviews.
7. Conduct periodic reviews of high and moderate risk-rated accounts; prepare and retain documentation of reviews.
8. Conduct annual identity theft testing, retaining documentation of testing results.
9. Assist in conducting on-site visits to Money Service Businesses (MSBs) and accountholders with Automated Teller Machines on premises in connection with deposit relationship or potential lending relationship; prepare and retain documentation of reviews.
10. Assist in conducting daily review of MSB cash transactions; record MSB cash deposit and withdrawals on an internal spreadsheet.
11. Assist in conducting quarterly review of deposits to MSB accounts; sample checks written on MSB accounts and compare to OFAC lists.
12. Assist in the review of transaction monitoring alerts for closely monitored accounts (i.e., high risk accounts, MSB, and deposit customers with ATMs on premises); investigate the source of those alerts; and determine whether the activity generating the alerts requires escalation to management. 
13. Assist in the review of daily Fraud related alerts generated by the Bank’s transaction monitoring system as well as periodic review of other Bank generated Fraud Prevention reports.
14. Assume additional responsibilities as required.

• Minimum of 3 years previous banking experience with basic knowledge of general compliance and Bank Secrecy Act/Anti-Money Laundering guidelines.
• Ability to interact effectively with all levels of management and staff.
• Good computer skills with ability to use bank systems and other software as required.
• Ability to drive to bank branches, accountholder locations, and potential customer locations.
• Position may require more than 40 hours per week.

Physical Demands and Work Environment

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodation may be made to enable individuals with disabilities to perform the functions. Local travel will potentially be required to all company locations. During certain intervals throughout the year, the amount of time required to discharge your responsibilities may exceed 40 hours per week. Exempt employees are paid an established monthly or annual salary and are expected to fulfill the duties of their positions regardless of the hours worked. While performing the duties of this position, the employee is regularly required to talk or hear. The employee frequently is required to use hands or finger, handle, or feel objects, tools or controls. The employee is occasionally required to stand; walk; sit; reach with hands and arms; climb or balance; and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this position include close vision, distance vision, color vision, peripheral vision, and the ability to adjust focus. The noise level in the work environment is usually moderate.