BSA/AML Specialist

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Assists with the development and implementation of the Bank's Secrecy Act and AML Program; makes recommendations to Management when appropriate; and is required to submit reports to the Management detailing the Bank's BSA and AML investigations.
• Investigates and assesses alerts relating to potential money laundering and fraud risks in the organization using the Bank’s AML/Fraud Monitoring system; documents investigations of unusual banking activity to support decision-making for federal Suspicious Activity Reports; provides investigative results to the Bank’s AML Committee for review.
• Prepares clear and accurate Suspicious Activity Reports for filing with the federal government.
• Supports and backs up the daily Currency Transaction Reporting processing, ensuring timely and accurate filing.
• Maintains well organized records of CTR submissions and acknowledgments.
• Reviews OFAC alerts from the Bank’s AML/Fraud Monitoring software, ensuring timely response to OFAC’s SDN List and other national and international security lists.
• Uploads FinCEN’s bi-weekly 314(a) files and reviews/decides on all alerts generated. Maintains records supporting results of same in compliance with regulatory requirements.
• Identifies high risk customers for enhanced due diligence (EDD) using the AML/Fraud Monitoring software and system reports; maintains accurate and complete records on the Bank’s high risk customers, including documentation of enhanced monitoring.
• Investigates unusual/suspicious activity reported by the various divisions and advises the AML Committee accordingly.
• Affords support and assistance in the development and administration of BSA/AML training and awareness programs for staff.
• Performs and documents the review of the Bank’s Exempt Customer List in compliance with IRS rules and files required exemption renewals on a timely basis.
• Performs and documents monthly data validation reports of the Bank’s AML/Fraud Monitoring system, reporting any identified issues to the BSA Officer in a timely manner.
• Records and monitors sales of monetary instruments for unusual activity and documents patterns. Provides periodic reports of same to the AML Committee.

EDUCATION AND EXPERIENCE

• At least two years of related banking experience.
• Knowledge of Bank Secrecy Act regulations and requirements and general knowledge of money laundering.
• Associates degree (A.A.) or equivalent from a two-year college or technical school preferred.

BENEFITS AND INCENTIVES

• We offer a comprehensive benefits package designed to support your well-being and success, including medical, dental, and vision coverage; Flexible Spending and Health Savings Accounts; 401(k) matching; and tuition reimbursement.
• You will also enjoy additional perks such as our employee referral program, annual holiday reception, summer family outing, and more.

SALARY RANGE

$52,000 to $65,000

The pay range is the lowest to highest compensation we reasonably in good faith believe we would pay at posting for this role. We may ultimately pay more or less than this range. Employee pay is based on factors like relevant education, qualifications, certifications, experience, skills, seniority, location, and performance.

This range may be modified in the future.

PHYSICAL DEMANDS

While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee is occasionally required to stand; walk; climb or balance; and stoop, kneel, crouch, or crawl. Specific vision abilities required by this job include close vision.