2204-4 BSA/OFAC Officer

First Volunteer Bank
BSA/OFAC Officer

 

The Bank Secrecy Act (BSA) officer is responsible for developing, implementing and administering all aspects of the Bank Secrecy Act Compliance Program.

 

 

Essential function:

  • Advises Senior Management and Bank personnel of emerging compliance issues and consults and
    guides the Bank in the establishment of controls to mitigate risks.
  • Coordinates and revises the BSA/AML Program as necessary so it stays current.
  • Maintains a current knowledge of the Bank Secrecy Act and all related anti-money laundering
    and OFAC regulations; monitors legislative and regulatory developments regarding the Bank
    Secrecy Act and reports important compliance developments to board, management and other
    bank personnel.
  • Prepares for and coordinates regulatory and internal audits related to BSA compliance. Develops and approves responses to be sent to regulatory agencies and outside auditors/consultants.
  • Ensures new product and service development include full BSA/AML consideration.
  • Develops, coordinates, and facilitates training programs, sessions, and seminars to educate bank
    personnel about Bank Secrecy Act related compliance requirements and procedures.
  • Reviews all suspicious activity report (SAR) investigations and decides when to file suspicious
    activity reports. Maintains all SAR files and documented files for investigations that did not result
    in a SAR being filed.
  • Oversees monitoring program, including SAR filing and 314(a) reporting; directly responds to all
    314(a) and 314 (b) inquiries, escalate potential watch list hits and prepare required regulatory
    reports.
  • Supervises and mentors staff, set and administers goals and sets performance objectives.
  • Prepares reports for the board of directors on a periodic basis and ensure that the board is kept
    fully informed of the BSA program.
  • Oversees review of data in YellowHammer software to track and investigate potential fraudulent
    and other types of transactions that could place the bank at risk.

 

 

Qualification:

College degree preferred, but equivalent banking experience may be substituted

  • Additional five years’ general banking or regulatory agency experience
    • Bank Administration Institute, American Banker Association, or equivalent specialized BSA
    training
    • Understanding of legislative and regulatory processes
    • Familiarity with all functional areas of banking
    • Excellent communication (both written and verbal), influence and leadership skills.
    • Ability to manage multiple demands and priorities

 

 

Qualified candidates may visit www.firstvolunteer.com/careers to apply.

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