Location: Newtown, CT

The BSA/AML Team Leader is responsible for the day-to-day management of various Anti-Money Laundering (AML)/Bank Secrecy Act (BSA) compliance reports, systems, and tasks. Supervises BSA/AML staff, assesses work performance and any training/coaching needs, delegates assignments, and performs a variety of BSA/AML tasks including key operational controls (i.e., secondary reviews of work completed by others, etc.). Acts as a first escalation point for BSA/AML staff.

The BSA/AML Team Leader is responsible for ensuring all BSA/AML tasks are completed in a timely manner, in compliance with all regulatory requirements and in accordance with the Bank's documented policies and procedures. Additionally, the Team Leader is responsible for ensuring department reporting (e.g., KPIs) is regularly and accurately produced.

This role interfaces directly with the Bank's auditors/examiners as well as various levels of Bank Management. Works cross-functionally with other areas of the Bank to identify/address opportunities for improvement and in support of Bank initiatives. Acts as the primary liaison to vendors/providers of BSA/AML solutions for daily operations. Assists management in the development and implementation of new/revised workflows, procedures and/or system enhancements.

This is an onsite opportunity at our Corporate office in Newtown, CT. The role has a remote option of one day per week.

PRIMARY RESPONSIBILITIES

• Administrative - Provides guidance and training to team members regarding processes and procedures and ensures that team members are cross trained. Maintains BSA department training tracker. Supervises daily performance of the BSA department and ensures daily/weekly/monthly tasks are completed in a timely manner.
• AML/BSA Monitoring - Perform BSA/AML alert review and report/investigate questionable activities to BSA Officer through case management. Responsible for select reviews including cash aggregation, FATF, international transportation of currency, monetary instruments, and OFAC.
• AML/BSA Regulatory Reporting - Prepares CTRs, SARs, and other related reporting. Conducts review of Currency Transaction Reports (CTRs) and queues CTRs for submission to FinCEN.
• AML/BSA System - Provides support with AML/BSA software release testing/verification, periodic parameter reviews, and suspicious activity detection system validations to ensure effective detection efforts. Under BSA Officer direction, updates system parameters and documents changes.
• Audits/Exams - Supports BSA Officer with audit, state and federal exam preparations and participates in AML/BSA audits/exams as needed. Stays current with changes in AML/BSA regulations and trends; develops related procedures or revisions to the BSA/Customer Information Program (CIP) in conjunction with the BSA Officer.
• Case Management & Investigations - Maintains detailed case notes and documentation including communications between business units and documentary support of findings. Conducts analysis of transactional data to make determinations of irregular activity by understanding industry norms, historical customer activity, and regulatory definitions of suspicious activity. Exercises solid judgment while examining, identifying, and documenting suspicious account activity behaviors and patterns.
• Communications - Interacts with internal customers to provide a positive customer experience.
• Efficiency - Supports BSA Officer by identifying and recommending process improvements that enhance efficiency, quality, and consistency within the BSA Department. Remains informed of industry trends and best practices and assists with the implementation of operational improvements and cross-functional initiatives.
• Monitoring/reporting - Reviews and investigates subpoenas including Grand Jury Subpoenas received by the Bank. Prepares and maintains annual exempt/non-exempt customer reviews. Submits approved exempt customer DOEP forms to FinCEN. Performs download and review of 314(a) screening. Prepares and responds to FinCEN 314(b) Information Sharing requests. Performs annual FinCEN Section 311 Special Measures review.
• Procedures/Daily Task Lists - Maintains departmental documentation relative to areas of responsibility including procedures and task lists.
• Project Management - Supports BSA team members with project plans, documents progress and provides updates as necessary. Ensures all project deliverables are completed by established target dates.
• Risk Assessments and Board Reports - Prepares or performs secondary review of monthly Board of Directors SAR and internal SAR reports. Prepares statistics and assists the BSA Officer in the preparation of the AML/BSA and OFAC annual risk assessments.

• Risk Ratings and High-Risk Review - Performs periodic review and evaluations of high-risk customers. Monitors high-risk customers and activities such as CBD/Hemp, MSB, or Private ATM per compliance requirements. Conducts Enhanced Due Diligence (EDD) reviews and updates as needed. Effectively maintains BSA and KYC records including high-risk customer records, files, spreadsheets, and related documentation.
• Suspicious Activity Reporting (SAR) - Prepares thorough case notes and documentation to support SAR/Non-SAR recommendations. Prepares timely and accurate SARs according to FinCEN and Bank standards. Performs secondary review of SARs prepared by BSA team members.
• Statistical reporting - Prepares accurate and timely statistical reporting for monthly BSA related Key Performance Indicators (KPI). Ensures BSA Department KPI is completed in a timely manner.
• Training - Assists the BSA Officer with training program; prepares and/or coordinates AML/BSA training materials and delivers training. Participates in Retail Banking employee education and risk awareness.

POSITION REQUIREMENTS

• Bachelor's Degree or equivalent plus 3-5 years' banking experience. Previous experience in BSA/AML required.
• Certified Anti-Money Laundering Specialist (CAMS) is preferred; if not available, must be willing to obtain certification within Bank specified timeframe.
• Requires specialized knowledge of Bank Secrecy Act, USA Patriot Act, Money Laundering Control Act, Office of Foreign Asset Control (OFAC), Financial Action Task Force (FATF), PEP regulations, and all associated regulations and interpretations.
• Familiarity with various Fraud/BSA/AML detection systems, preferred.
• Must be able to demonstrate leadership one on one and in groups, prior supervisory experience a plus.
• Ability to work well under pressure and meet assigned deadlines.
• Ability to multi-task and work independently as well as communicate well with colleagues and management.
• Detail-oriented with a strong customer focus.
• Strong research, investigative, analytical, and organizational skills.
• Ability to listen well and follow instructions.
• Must have strong working knowledge of MS Office Suite products.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Full time employees also receive a complete benefit package including a generous 401(k), medical benefits, paid time off, and short- and long-term disability programs.