Deputy BSA/AML Compliance Officer

Responsible for assisting the BSA/AML Compliance Officer with various activities relating to compliance, risk management, and audits. Monitors prepaid programs for fraud and suspicious activity. Assists with resolving issues identified by internal auditors, external examiners, and compliance consultants. Performs the duties of the Assistant BSA/AML Officer.

Qualifications

• Bachelor's degree in Business Administration, Accounting, or Finance.
• Minimum of three years of BSA/AML/OFAC compliance experience, or equivalent combination of education and experience.
• ACAMS certification or completion of certification within 1 year of hire.
• Seven or more years of combined training and education.
• Advanced knowledge (able to train and answer complex questions) of AML, BSA, USA PATRIOT Act, and OFAC regulations, as well as applicable banking policies, procedures, laws, and regulations.
• Formal bank education pertaining to the scope of the position.

Responsibilities

• Evaluates operations to ensure the Bank is meeting all applicable regulations.
• Creates, requests, and/or reviews reports to identify AML and fraud concerns.
• Collaborates with internal staff to investigate issues.
• Resolves escalated issues relating to AML, fraud, negative balances, disputes, and program variances to the BSA/AML Officer and/or Senior Management.
• Assists in oversight of the bank’s efforts to prevent credit/prepaid card fraud and maximize recovery.
• Assists in creating and implementing processes for AML exposures and fraud prevention relating to new programs and products.
• Performs rate risk analysis on new accounts within 90 days of opening in the absence of the BSA/AML Officer.
• Assists BSA/AML Officer in recording and responding to audit findings.
• Requests information and testimony from Bank staff and manages responses.
• Assists in performing the annual review of exempt customers, high and medium risk customers, resident aliens, foreign customer list, customers without TINs, large balance customers, CTR Exemptions, and Private ATM reviews.
• Performs Program Manager and MSB site visits when applicable.
• Assists with creating the annual Compliance training curriculum.
• Leads training sessions, participates in compliance committee meetings, researches, and responds to training and compliance inquiries.
• Assists with BSA/AML annual risk assessment(s) and annual review for the bank and prepaid card programs.
• Monitors industry trends and issues to identify areas of concern and proactively mitigate AML and Fraud exposure.
• Assists and/or performs CIP testing of prepaid card programs.
• Assists with writing and updating policy and procedures.
• Researches and responds to 314a, 314b, subpoenas, and customer complaints.
• Assists BSA/AML Officer to identify suspicious activity as outlined under BSA/AML and FinCEN guidelines, researches such activity, performs transaction monitoring, clears alerts, and prepares SARs for BSA/AML Officer review and filing.
• Completes 90-day reviews of previously filed SARs (applies to both Retail banking and Prepaid card programs).
• Researches and responds to concerns of customer fraud and/or abuse.
• Monitors and responds to potential OFAC matches.
• Assists with transaction and case monitoring system (Verafin) problem identification, resolution, threshold settings, and system tuning.
• Reviews and manipulates data for research and discovery of AML and Fraud-related events.
• Acts as a liaison for the company with program managers and vendors where necessary.
• Attends weekly program manager calls.

Skills

• Ability to communicate effectively and clearly, both verbally and in writing.
• Excellent interpersonal skills.
• Strong knowledge of the business area being supported.
• Self-directed and motivated.
• Ability to manage multiple tasks.
• Excellent problem-solving skills.
• Ability to calculate figures as they relate to accounting processes.
• Ability to read, analyze, and comprehend journals, audit reports, regulations, and legal documents.
• Ability to respond to common inquiries or complaints from employees, customers, regulatory agencies, or members of the business community.
• Ability to effectively present information to top management and employee groups.
• Ability to write training documents, policies, procedures, and correspondence.
• Experience with Verafin, FinCEN, IDology, Incomm, FIS, and/or any combination of these systems is a plus.