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Form of workSummary of Duties The Compliance/BSA Specialist would be responsible for supporting the Compliance/BSA Officer in adhering to legal and regulatory requirements related to Compliance and Bank Secrecy. Essential Duties and Responsibilities Included but are not limited to: Assist in monitoring and ensuring compliance with relevant banking laws, regulations, and policies to prevent financial crimes, money laundering and terrorist financing. Develop a high level of proficiency in utilizing Verafin, which may include monitoring controls and periodic data validations.
Triage and timely clearance of OFAC Alerts. Responsible for 314(2) and 314(b) information sharing compliance. * Monitor high and moderate-risk customers, which may include Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) alerts and case investigations within Verafin/Horizon.
Assist in reviewing and filing all Currency Transaction Reports (CTRs). Assist in filing Suspicious Activity Reports (SARs) with FinCEN. * Maintain a NonSAR file and track suspicious activity trends.
Review daily cash reports and Verafin Questionnaires for CIP/KYC and OFAC compliance. Assist in preparing monthly Committee and Board reports. * Assist with the monitoring/tracking of the Complaint Management System.
Create or help with developing policies, procedures, forms and correspondence to meet regulatory requirements. Assist with bank wide compliance training curriculums and ongoing communication with all employees. * Assist with all internal/external audits and exams.
* Assist in creating industry best practices through analysis, sound risk management practices and forward thinking. Other Functions 1. Familiar with and abides by all bank regulations including but not limited to BSA and OFAC.
2. Adhere and comply with all Bank Policies and Procedures. 3.
Other duties as assigned.
