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Form of workPOSITION SUMMARY
Responsible for analyzing reports and conducting investigations to ensure that customer account activity is not in violation of the Bank Secrecy Act (BSA) or the Office of Foreign Assets Control (OFAC) regulations. Trains company employees on their responsibilities under these regulations.
ESSENTIAL REQUIREMENTS
- Works as a team member of the Loss Prevention Department to ensure that 1st Source Bank maintains compliance with the BSA and OFAC regulations and that selected employees are properly trained in their responsibilities as prescribed by these regulations.
- Conducts investigations into customer account activity that has been identified as suspect so that a determination may be made as to any reporting that may be required under the BSA.
- Analyzes reports to ensure that the bank files Currency Transaction Reports or any other reports as may be required by the BSA or OFAC regulations.
- Conducts appropriate reviews as prescribed by the BSA of any accounts that the bank may elect to exempt from the BSA reporting requirement.
- Analyzes reports to detect customers that may be conducting transactions just under the BSA reporting threshold or other suspicious activity.
- Interfaces with law enforcement agencies who may be investigating suspected criminal activity defined within the BSA regulations.
- Processes Financial Crimes Enforcement Network (FinCEN) 314(a) list and reports back to FinCEN any accounts for those on the 314(a) list.
- Provides support to the Fraud Investigations Officer as needed.
- Maintains compliance with regulations and trains appropriate bank personnel.
- Assists with annual Bank examinations and audits (both internal and external).
- Responsible for the completion of all compliance training related to the position.
- Must understand all applicable laws and regulations that apply to the position and complies with the requirements.
NON-ESSENTIAL FUNCTIONS
Performs all other duties as assigned.
EXPERIENCE/SKILLS
- Five (5) or more years’ experience in banking, auditing and/or legal experience preferred.
- Must understand the requirements of the Bank Secrecy Act (BSA) and OFAC regulations.
- Experience with an Imaging System program and/or Central Information File (CIF) preferred.
- Understanding of teller transactions and how they are processed preferred.
- Great analytical abilities.
- Internet skills.
- Good PC skills--proficiency in Microsoft Word and Excel essential.
- Great organization and administrative skills.
- Ability to handle multiple tasks in a fast-paced environment.
- Excellent communication skills (both written and verbal).
- Friendly courteous disposition with the ability to work in a team player in an environment.
- Maintains confidentiality of work files.
- Great customer service skills (internal and external).
EDUCATION
Bachelor’s Degree preferred.
TRAVEL REQUIREMENTS
Ability to travel to all locations as well as ability to travel overnight, as needed for meetings, projects, seminars, etc.
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals to perform the essential functions.
While performing the duties of this job, the employee is required to sit, stand and walk; use hands and fingers to operate keyboard and other office equipment; reach with hands and arms; and talk or hear. The employee is occasionally required to stoop or kneel. The employee may occasionally lift and/or move up to 10 pounds.
EQUIPMENT
MS Office PC, fax, phone and standard office equipment.
