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SalaryJOB SUMMARY: This position is responsible for assisting the BSA Officer as directed, with emphasis on BSA/AML & Anti-Fraud issues in both the Bank’s branch and online account opening environments. This position is responsible for performing independent review and analysis on individuals and entities to ensure compliance with the Bank Secrecy Act, the USA PATRIOT Act, and adherence to Bank policy involving BSA/AML and OFAC compliance activity monitoring. This monitoring will include, but not limited to, Suspicious Activity Reporting (SARs), Enhanced Due Diligence (EDD)/high risk customer reviews, Currency Transaction Reports (CTRs), monetary instruments, gift cards, funds transfers, remote deposit, ACH, missing CIP, beneficial ownership, the CTR exempt persons list, information sharing, and maintaining various other BSA related reports/records (all summarized as “BSA/AML”). A significant level of trust, credibility and diplomacy is required for this position, as this may include in-depth dialogues, conversations, and explanations with deposit customers regarding items of a sensitive and/or highly confidential nature.
Starting annual salary of $60,000.00. Employment offers will be dependent upon the selected candidate’s relevant qualifications and experience.
RESPONSIBILITIES
- Establish and maintain a high degree of knowledge of banking rules, regulations and best practices that are applicable to compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Anti-Financing of Terrorism rules and regulations.
- Maintain a working knowledge of rules, regulations and best practices pertaining to banking that are applicable to compliance with:
- Bank Secrecy Act
- USA PATRIOT Act
- SBA OIG Referrals, and
- Any other compliance regulation assigned to the team.
- Serves as a resource person for Bank team members on CIP/KYC items.
- Serves as a resource person for Bank team members on BSA/AML and OFAC issues.
- Serves as Customer Liaison involving possible fraud, elder abuse, and/or scam related activity.
- Responsible for monitoring account activity to identify fraudulent financial transactions and violations.
- Analyze transaction data and patterns to identify suspicious activities.
- Responds promptly and professionally to internal and external customers regarding resolution of issues related to fraud.
- Continuously review and enhance fraud prevention and detection processes and tools based on evolving threats and organizational needs.
- Enhanced Due Diligence – identification and monitoring of higher risk customers.
- Monitoring, analysis, investigation and disposition of alerts in the electronic monitoring system.
- Investigate, research, document cases and disposition of suspicious activity and make recommendations for SAR, FinCEN or Non-SAR case determinations.
- Follow-up reviews of suspicious activity based on previous SARs filed.
- Backup for CTR filing and maintenance of the CTR Exemption List.
- Work with BSA coordinators designated at Stearns Bank branch and affiliate locations regarding their BSA compliance procedures and processes.
- Assists in ensuring that the Bank’s BSA programs have conformity and adherence with applicable state and federal laws and regulation.
- Assists in development of new policies, procedures and personnel training on BSA matters while actively looking for ways to improve or create efficiencies.
- Assists in gathering documents for BSA/AML compliance audits and examinations.
- Performs a variety of daily tasks; reviews reports, prepares correspondence; and participates in or leads special department projects.
- Loss prevention and security as applicable for this position.Assist BSA Officer on compliance, BSA/AML, and/or other special projects, as needed.
- Willingness to physically visit individual Stearns Bank branches on a rotational basis or as needed.
- Working knowledge of Fintech partnerships and BSA/AML oversight requirements.
REQUIREMENTS
- Occasionally lift and/or move up to 25 lbs.
- Ability to understand and follow instructions in English.
QUALIFICATIONS
- Bachelor’s degree (B.A.) from four-year college or university; or three to five years related experience and/or training; or equivalent combination of education and experience.
- Three to five years BSA/AML experience with demonstrated understanding and accountability of job responsibilities.
- Strong and effective verbal and interpersonal communication skills.
- Communication skills/experience involving motivating, influencing, educating and/or advising others on matters of significance.
- Effective written communication skills are essential. Reporting must be concise and easily interpreted by all relevant parties.
- Strong computer skills.
- Ability to interpret regulations and laws and disseminate information.
- Ability to focus and concentrate for long periods of time; detail oriented and flexible.
THE COMPANY
Founded in 1912, Stearns Financial Services Inc. (SFSI) is a $2.4 billion well-capitalized, independent financial holding company based in St. Cloud, Minnesota. Specializing in nationwide small business lending and equipment financing, Stearns has maintained outstanding customer service, fast decisions, and customized finance solutions to their customers for decades.
Stearns Bank has earned itself a stellar reputation amongst customers and competitors alike. This reputation goes beyond just word-of-mouth, as Stearns has been recognized by the Independent Community Banker’s Association (ICBA) as a top-performing bank in the nation based on a 3-year average Return on Assets for banks $1 billion or more. Stearns has also been recognized by American Banker as a top-performing bank in the nation over a 3-year period for Return on Equity for banks from $2 billion to $10 billion.
As a Star Tribune Top Workplaces award recipient and an award recipient of the Minnesota Business Magazine 100 Best Places to Work in Minnesota, Stearns takes pride in their team and holds their employees in extremely high regard. We offer a competitive salary and benefit package including our Employee Stock Ownership Program-one of the best long-term incentive programs in the nation.
EQUAL OPPORTUNITY EMPLOYER /AFFIRMATIVE ACTION PLAN
We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, or creed, religion, sex, marital status, familial status, sexual orientation, national origin, age, disability, veteran’s status, status with regard to public assistance, or any other class protected by Federal, State, local laws governing nondiscrimination in employment.
