Responsible for monitoring activities relating to the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) and OFAC compliance, and supervise the monitoring processes and regulatory filings, investigates suspicious activity monthly and create investigation case files. Supervises and coordinates the BSA Analysts’ daily tasks.
- Maintains a current knowledge of the BSA and all related AML and OFAC regulations;
- Utilizes BSA/AML monitoring application systems and other reports to detect suspicious activities;
- Conducting periodic self-assessments of the BSA/AML department’s day-to-day operation;
- Conducting periodic assessments of the bank’s applicable departments for compliance to BSA/AML/CIP/OFAC procedures;
- Monthly review and analysis of aggregated cash and wire activity for structuring;
- Creates investigation case files that include Enhanced Due Diligence, ensure that the decision-making process to file or not to file a SAR is documented in the Investigation Case Form
- Reviews daily Currency Transaction Reports (CTRs) for accuracy and submission;
- Performs OFAC scrub periodically; monitors high risk products, services, customers and entities and periodically does OFAC scrubs;
- Minimum of 5 years of progressively responsible banking experience;
- Requires thorough knowledge of Bank Secrecy Act, USA Patriot Act, Money Laundering Control Act, Office of Foreign Asset Control regulations and associated regulations and interpretations; Also, an excellent knowledge of Bank operations, policies and procedures;
- Knowledge of FIS System and related support systems such as Teller-Insight and Bankers’ Toolbox;
- Must stay current with changes in law and regulations and implement changes in a timely manner.
- Must be very familiar with the use of the Bank’s BSA/AML monitoring application systems and how to obtain information from various systems and reports;
- Good analytical, creative, flexible, and manage well in a fast-paced, rapidly changing environment;
- Must be able plan and monitor activities according to priorities and multi-task;
- Strong organizational, problem-solving (solutions-oriented approach), negotiation and follow-up skills;
- Computer literate, high level of proficiency using Microsoft Word, Excel, and PowerPoint required.
Far East National Bank is an Equal Opportunity Employer/Minorities/Women/Protected Veterans/Individuals with Disabilities.