BSA Specialist

POSITION SUMMARY

The BSA (Bank Secrecy Act) Specialist plays a crucial role in ensuring compliance with regulatory requirements and safeguarding the institution against financial crime risks. This position requires a meticulous and detail-oriented professional who will focus on BSA-related functions while also providing support in accounting and operations tasks.

This position offers an exciting opportunity for an individual passionate about ensuring regulatory compliance while contributing to the overall success of a small community bank. The role provides exposure to various aspects of banking operations, making it an ideal position for someone seeking a multifaceted career in the financial industry.

Must work collaboratively with the team and contribute to a positive work environment and provide courteous support to the other team members. Directs and prioritizes departmental workflow. Supports the Bank by reinforcing the Mission, Vision, Core Values and achieving departmental goals consistent with the strategic plan and budget.

WHAT YOU'LL DO:

• Conduct thorough reviews of customer transactions and accounts to detect and report suspicious activities. Utilize monitoring tools to identify unusual patterns or trends in customer transactions.
• Review, investigate and analyze transactions, filing Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs), as necessary.
• Collaborate with internal teams to gather additional information and enhance monitoring systems.
• Monitor and update customer information to ensure compliance with BSA regulations.
• Stay informed about changes in BSA laws and regulations and implement necessary updates to bank policies and procedures.
• Assist in the development and delivery of BSA training programs for bank staff.
• Conduct risk assessments on new and existing customers to evaluate potential exposure to money laundering, fraud, and other financial crimes.
• Work with management to implement risk mitigation strategies.
• Maintain accurate and organized records of BSA-related activities.
• Generate reports for regulatory agencies as required.
• Assist with Accounting and Operations Work such as account reconciliations, financial reporting, processing of wire transfers, and more.
• Maintain a high level of confidentiality related to bank, customer, director, and employee information.

WHAT YOU'LL NEED:

• An associate degree in a business-related field or commensurate amount of on-the-job experience.
• 3-5 years of experience is preferred.
• Understanding of BSA regulations, AML (Anti-Money Laundering), and OFAC (Office of Foreign Assets Control) requirements
• Excellent analytical and investigative skills.
• Positive attitude and eagerness to collaborate with and assist in other areas of the bank.
• Ability to communicate effectively at many levels of the organization including the delivery of key information and training.
• Ability to use sound judgement, utilizing bank procedures and policies when making decisions.
• Ability to act with integrity, professionalism, and confidentiality.
• Proficient in MS Office suite of products (Outlook, Excel, Word, PowerPoint)