BSA Specialist II - CTR Specialist

Primary Purpose:

This position is a part of BSA/AML Department, a team that is integral to TowneBank’s efforts in the fight against money laundering and terrorist financing. The BSA/AML Department assists the Bank’s businesses to design effective processes through the development of consistent and cohesive policies and programs to ensure compliance with all applicable anti-money laundering and Office of Foreign Asset Control (OFAC) regulations. The BSA/AML CTR team works within the BSA/AML Department to ensure regulatory requirements are met for Currency Transaction Reports (CTRs), CTR exemptions, and recordkeeping for monetary instruments.

The BSA/AML Specialist II CTR Specialist’s primary objective is to identify reportable cash transactions using internal bank systems in order to process and file CTRs with FinCEN electronically within 15 calendar days from the transaction date. Additional responsibilities include identifying business customers eligible for CTR exemption, conducting annual reviews on CTR exempt customers, and maintaining records for monetary instruments purchased with cash.

The good-faith compensation range for this role is expected to be $51,000 to $69,000, based on the role, market, internal equity, and candidate qualifications.

Essential Responsibilities:

• Review the daily Currency Transaction Reports (CTRs) entered on the core banking system and reconcile total cash transactions to the CTR records. CTR cases are reconciled daily and reviewed on the AML transaction monitoring system


• Review customer and transaction data on CTR records that include single and aggregate cash transactions to verify information collected. Adjust CTR records as necessary to ensure complete information has been documented


• Communicate with branch personnel as needed to confirm cash activity


• File CTRs electronically to FinCEN within regulatory deadline


• Confirm acknowledgements received from submitted CTR batch filings


• Process received CTR errors/warnings from BSA e-filing and maintain documentation


• Identify customers eligible for CTR exemption and prepare associated case for Management review


• Conduct annual reviews on Phase I and Phase II CTR exempt customers


• Review the information collected on sales of monetary instruments involving $3,000 to $10,000 (inclusive) in cash and retain records. Review transactions to identify unusual activity using monetary instruments for same purchaser.


• Conduct targeted CTR-related training for branches and other LOBs as needed


• Assist BSA Reporting Manager and the BSA/AML Department with projects as needed

Minimum Required Skills & Competencies:

• 2-3 years banking or similar experience with knowledge of branch, teller and/or loan operations


• General knowledge of federal requirements under the Bank Secrecy Act and Office of Foreign Assets Control (OFAC) regulations


• Excellent analytical and problem-solving skills


• Ability to comply with regulatory deadlines and work in a fast-paced environment


• Ability to handle confidential customer information


• Knowledge of bank products and services


• Ability to work independently and possess a team player attitude


• Strong verbal communication skills


• Detail oriented with good organization skills


• Working knowledge of Excel, Microsoft Office Suite

Desired Skills & Competencies:  

• Bachelor’s degree in related field such as business management, accounting, or economics


• Working knowledge of federal requirements under the Bank Secrecy Act including Customer Identification Program, USA PATRIOT Act and Office of Foreign Assets Control (OFAC) regulations, and be familiar with FFIEC BSA/AML Manual guidelines


• Experience in a financial institution with asset size $10B and over


• Microsoft Office Suites, specifically, Excel, Word, and Powerpoint

Physical Requirements:

• Express or exchange ideas verbally and using the spoken word via email.


• Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.


• Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.


• Not substantially exposed to adverse environmental conditions.


• The physical demands described here represent those that must be met by an employee to perform the essential responsibilities of this job successfully. Reasonable accommodations may enable individuals with disabilities to perform necessary duties.