Compliance Specialist

The Role

The Compliance Specialist is responsible for ensuring the organization’s operations adhere to regulatory requirements and internal policies. This role oversees new account openings, annual due diligence, and BSA calculations, while monitoring transactional activity for compliance risks. The Compliance Specialist manages wire processing and reviews, maintains behavior settings and alerts, and ensures timely submission of annual documents.

Position Duties

• BSA Calculations – New Accounts

  • Conduct BSA calculations for newly opened accounts to support regulatory compliance and risk assessment requirements.
  • Ensure all calculation records are accurate, well-documented, and readily available for regulatory audits, examinations, and internal compliance reviews.

• Prepare and file Currency Transaction Reports (CTRs) and review system alerts to identify potential suspicious activity, ensuring all alerts are thoroughly investigated, properly documented, and completed within required timeframes.

• Configure, maintain, and update behavioral monitoring settings within compliance systems to align with current risk profiles, regulatory requirements, and internal compliance standards.

• Currency Transaction Reports (CTRs)

  • Prepare and file Currency Transaction Reports (CTRs) and review system alerts to identify potential suspicious activity, ensuring all alerts are thoroughly investigated, properly documented, and completed within required timeframes.

• Wire Processing and Reviews

  • Conduct detailed pre-processing reviews of wire forms and verify transaction details collected by Relationship Managers, ensuring accuracy, completeness, and full compliance with internal controls, regulatory standards, and required documentation prior to execution.
  • Identify discrepancies, unusual activity, or potential risk indicators and escalate appropriately in accordance with established procedures.
  • Process wire transfers accurately within designated systems in accordance with operational procedures and regulatory requirements.

• New Account Management (Checklists and Procedures)

  • Process new account openings using established procedures and control checklists, ensuring full compliance with documentation requirements and regulatory standards, including credit review, OFAC screening, ChexSystems review, and Know Your Customer (KYC) verification.
  • Cross-functional coordination to investigate and resolve account-related matters in a timely and efficient manner.

• Annual Document Requests (CMS)

  • Respond to annual document requests within CMS, ensuring timely and accurate submission.
  • Maintain organized records of document requests and completions for audit purposes.

Requirements

• Strong understanding of business accounts and financial operations.
• Current or attainable BSA Certification with demonstrated regulatory knowledge.
• Bachelor’s degree in business or related field preferred.
• Ability to proactively self-train and apply new industry knowledge to protect Safe Harbor and ensure compliance.
• Proven ability to adhere to regulatory guidelines strictly and institutional protocols governing service to this industry.

Qualifications

• Strong understanding of business accounts and financial operations.
• Current or attainable BSA Certification with demonstrated regulatory knowledge.
• Bachelor’s degree in business or related field preferred.
• Ability to proactively self-train and apply new industry knowledge to protect Safe Harbor and ensure compliance.
• Proven ability to adhere to regulatory guidelines strictly and institutional protocols governing service to this industry.

Benefits

• Comprehensive Health Coverage – Medical, dental, and vision plans with multiple tiers to fit your needs, including HSA-eligible options.
• 401(k) Retirement Plan – Company-supported retirement savings plan to help you build long-term financial security.
• PTO – Flexible time off so you can recharge and show up as your best self.
• Growth-Oriented Culture – A collaborative environment where your contributions are recognized and career development is supported.