Vice President, AML/CFT Officer

Position Summary

The Vice President, AML/CFT Officer is responsible for the overall design, implementation, administration, and effectiveness of The Village Bank’s Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), Bank Secrecy Act (BSA), and Office of Foreign Assets Control (OFAC) compliance programs. This role provides strategic leadership and oversight of the Bank’s financial crimes compliance framework, ensuring adherence to all applicable regulatory requirements.

Key Responsibilities

• Program Oversight & Governance

• Maintain overall responsibility for the Bank’s BSA/AML, CFT, OFAC, and USA PATRIOT Act compliance program
• Develop, implement, and maintain policies, procedures, and controls to ensure regulatory compliance
• Provide regular reporting to Senior Management and the Board of Directors on program effectiveness, key risks, and emerging issues
• Serve as the primary point of contact for regulators, auditors, and law enforcement
• Ensure timely remediation of regulatory and audit findings

• Regulatory Reporting & Investigations

• Oversee the identification, investigation, and reporting of suspicious activity
• Ensure accurate, complete, and timely filing of: Suspicious Activity Reports (SARs), Currency Transaction Reports (CTRs), FinCEN 314(a) requests and related reporting
• Review and approve complex or high-risk investigations and regulatory filings
• Ensure appropriate escalation protocols are followed

• Transaction Monitoring & Systems Oversight

• Provide governance over transaction monitoring and case management systems
• Ensure monitoring scenarios, thresholds, and parameters are appropriately designed and effectively calibrated
• Oversee system enhancements, tuning, and optimization initiatives
• Manage key vendor relationships (e.g., FIS E-Funds, LexisNexis)

• Customer Due Diligence (CDD) & Enhanced Due Diligence (EDD)

• Ensure the effective implementation of CDD, beneficial ownership, and ongoing monitoring programs
• Oversee risk rating methodologies and high-risk customer identification
• Avoid approving Enhanced Due Diligence (EDD) reviews for Money Services Businesses (MSBs), Third-Party Payment Processors, and Private ATM Operators
• Ensure ongoing monitoring and documentation standards are maintained

• Quality Assurance & Risk Management

• Oversee quality control and quality assurance programs across BSA operations
• Ensure accuracy and completeness of: SARs and CTRs, CIP/CDD documentation, alert and case reviews, OFAC and watch list monitoring
• Conduct and oversee periodic AML/OFAC risk assessments
• Maintain program effectiveness through metrics, reporting, and testing

• Training & Awareness

• Ensure the development and delivery of comprehensive BSA/AML and OFAC training programs
• Provide periodic training to employees, management, and the Board of Directors
• Maintain training curriculum aligned with regulatory expectations

• Examinations, Audits & Regulatory Engagement

• Lead all BSA/AML and OFAC examinations and independent audits
• Cover coordinate responses and provide documentation to examiners and auditors
• Ensure timely and effective resolution of findings
• Maintain examination readiness at all times

• Enterprise Collaboration & Advisory

• Serve as the enterprise-wide subject matter expert on BSA/AML/CFT and OFAC matters
• Provide guidance to business lines on compliance risks and controls
• Ensure effective escalation and resolution of compliance issues
• Support Enterprise Risk Management initiatives as needed

• Leadership & Staff Management

• Provide leadership, direction, and oversight to the BSA/AML team
• Establish performance standards and ensure appropriate staffing and training
• Promote a strong culture of compliance across the organization
• Supervise employees as follows: 2+