San Diego, CA
Industry: Accounting, Finance & Insurance•
5 - 7 years
Posted 189 days agoby Jack Kelly
A Regional Commercial Bank in Southern California Seeks a BSA Officer to head their Bank Secrecy Act regulations
Via the Office of the Comptroller of the Currency. The BSA Officer will have access to all departments and documentation needed to carry out the responsibilities of the position. He/She will have full authority to make and enforce policies and procedures of the Bank
* Develop comprehensive AML Compliance framework including Compliance Policies & Procedures, Risk Controls and Processes, Assessments, and reporting parameters in conjunction with OCC, US Treasury, FinCEN, OFAC, and other federal and state banking regulators.
* Coordinate, oversee and monitor an effective day-to-day BSA/AML/OFAC Compliance and BSA/AML/OFAC Requirements that is in line with current industry best practices, regulatory guidance and requirements;
* Manage, administer and enhance all aspects of the BSA/AML/OFAC/USA Patriot Act monitoring systems and compliance programs, including ensuring that appropriate parameters are in place to identify suspicious and/or fraudulent activity;
* Manage the Bank's adherence to all BSA/AML/OFAC Requirements;
* Ensure all required regulatory reporting is conducted in a timely, accurate, complete and compliant manner, including but not limited to the timely and properly completed submissions Currency Transaction Reports ("CTRs") and Suspicious Activity Reports as defined by the U.S. Department of the Treasury ("SARs") to FinCEN, as well as FinCEN 314(a)and 314(b) procedures and reporting;
* Maintain and ensure appropriate SAR investigation, review and reporting processes that promote consistent decisions; adequate investigation and research; and complete and detailed documentation; including but not limited to that the Bank has an adequate system for monitoring suspicious activity of exempt non-listed business and payroll customers and appropriately files SARs;
* Establish and maintain an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments, and review and analysis of unusual/suspicious account activity;
* Establish the "Know your Customer" program pursuant to USA Patriot Act as part of the overall AML program, and ensure personnel are properly trained on the program's contents;
* Act as a liaison/contact for Federal and State examinations and internal and external independent reviews or audit of the BSA/AML/OFAC Compliance, including but not limited to participating and responding to exam and audit concerns, and overseeing corrected action of all related compliance deficiencies and violations.
* Stay abreast of and analyze developing industry and compliance trends, scams or schemes, and changes to law and regulations pertaining to the BSA, AML, OFAC and the USA Patriot Act;
* Performs BSA/AML training for the bank's subsidiaries and counterparts.
The Bank Secrecy Act (BSA) officer administers the Bank's program of compliance with the Bank
Secrecy Act, regulations issued by the Office of the Comptroller of the Currency (OCC) and the Office of Foreign Assets Control (OFAC), and all other related anti-money laundering (AML) laws and regulations. The BSA Officer coordinates and develops programs to implement BSA/AML program, support the BSA training effort, participates in briefings of management and staff on BSA/AML compliance issues, and responds to BSA/AML questions from business managers and executive management.
Knowledge and Skills:
* Minimum of 6 years experience in banking compliance or regulatory roles, preferably in Anti-Money Laundering in Banking.
* Experience dealing directly with bank regulators.
* Familiarity with compliance monitoring and testing systems.
* Full knowledge of applicable laws and regulations impacting BSA/AML/OFAC compliance.
* Excellent communication and interpersonal skills, able to effectively interact with executive management.
* Experience managing direct reports.
Education and/or Experience :
* CAMS, or similar certification preferred.
*Bachelor's degreerequired; advanced degreepreferred