BSA/AML Compliance & Risk Specialist

Position Summary:
The BSA/AMLCompliance & Risk Specialist is responsible to carry out many of the day-to-day tasks that ensure compliance with the Bank Secrecy Act and management of the Bank’s AML risks. An ability to work efficiently and independently while prioritizing tasks is crucial for success. This individual can use technology and understanding systems to improve effectiveness and efficiency of work. Expertise in Bank Secrecy Act (BSA) and Anti-Money Laundering compliance is a core requirement of this position.
Essential Functions: *

1. Develops and maintains expertise in the implementing regulations of the Bank Secrecy Act (31 CFR Chapter X), FinCEN guidance, anti-money laundering risk management principles, and the Bank’s BSA/AML compliance program.
2. Develops and maintains expertise in the operation of the Verafin AML system.
3. Review and mitigate any BSA/AML (“FRAML”) and CDD/EDD alerts, conduct appropriate investigations and decide on the disposition of the alert.
4. Ensure compliance with program requirements regarding onboarding of new clients, including completion of Account Opening Questionnaires (AOQs) and CDD/EDD requirements, as applicable.
5. Conduct new account due diligence reviews and open investigations when appropriate. 
6. Conducts periodic reviews of high risk client (HRC) behavior and updates CDD/EDD information, as necessary.
7. Identify and make decisions regarding when suspicious activity investigations should be conducted. Complete SARs and prepare them for review by the BSA/AML Officer. 
8. Conduct 90 day follow up on all filed SARs.
9. Complete daily Currency Transaction Reports (CTRs).
10. Upload the 314a listing and work any potential matches. 
11. Report any 314(a) or OFAC matches to the BSA/AML Officer.
12. Prepare reports on BSA/AML issues as requested by the BSA/AML Officer.
13. Assist other BSA department team members as needed and provide guidance to Bank staff whenever necessary.
14. Assist in managing 314b requests at the direction of the BSA/AML Officer. 
15. Assist in providing reports and documentation for Audits, Regulatory Exams and management.
16. Work closely with the Corporate Security Officer in identifying and reporting any criminal activity.
17. Obtain/maintain ACAMS certification.
18. Attend BSA/AML related training as directed by management and regulators.
19. Adheres to defined policies, procedures and guidelines. 
20. Provides other compliance related support as needed, at the discretion of the Chief Compliance Officer.

Critical Success Factors:

• Self-Motivated and Team Player
• Responsiveness
• High attention to detail
• Organizational skills
• Strong ethics 
• Advanced technical skills 
• Excellent written and oral communication skills

Preferred Education/Experience/Software:
Bachelor’s Degree in related field or 3-5 years of experience within the business or financial services industry is preferred. Minimum of 3+ years’ experience in the banking industry, and in a regulatory environment.  

Additional Requirements:
•    The responsibility to acquire and maintain the required knowledge of State and Federal Banking regulations and policies.  
•    Travel up to 20%.

Training:
Responsible for the timely completion of all required compliance training such has BSA, Information Security, and other job specific training as assigned.

Work Environment/Physical Demands:
Professional office environment. While performing the duties of this position, the team member is regularly required to operate standard office equipment.  The team member is frequently required to communicate and perceive.   The position is primarily stationary and not substantially exposed to adverse environmental conditions and requires sedentary work such as exerting up to 10 pounds of force 5% of the time and a negligible amount of force approximately 95% of the time.