Volunteer State Bank
Assistant BSA Officer
Responsible for assisting the BSA Officer in the administration, monitoring and ongoing improvement of the Bank’s BSA/AML/OFAC Program to ensure compliance with BSA, AML, CTR and OFAC requirements in all areas of the Bank. Works in conjunction with BSA Analysts to monitor and investigate suspicious activity. Collaborates with BSA Officer with enhancements to Bank’s BSA system of internal controls to ensure ongoing compliance, including monitoring, documenting, obtaining a satisfactory audit and exam results.
Duties and Responsibilities:
- Work closely/well with business units to understand client needs and opportunities from a holistic perspective to assure risk analysis and recommendations are well informed.
- Compile and deliver quantitative data needed to support management reporting and the risk assessment. Quantitative data are any metrics that are measured and monitored to support the Bank’s BSA/AML/OFAC program.
- Review and provide first level approval of all SAR’s. Review, approve and ensure timely submission of all CTR filings and 314(a)/314(b) requests.
- Perform thorough due diligence reports for higher risk clients and client opportunities and communicate results in a professional and collaborative manner
- Sustain a current awareness of the regulatory environment and emergent regulatory and financial crime risks that may impact the bank’s products/services, and BSA/AML controls
- Maintain effective channels of communication and collaboration with business units to understand BSA/AML, and OFAC risks
- Assist BSA Officer in acting as an escalation point for the BSA department in order to resolve issues, cases, alerts, etc. Work on complex issues where analysis of situation or data requires and in-depth evaluation of variables
- Perform an assessment of potential BSA/AML and OFAC risks related to new business and product lines (new products, services, customer segments and geographic footprint)
- Review case files prepared by BSA analysts to include approval of conclusions/justifications and report recommendations to BSA Officer for SAR filings
- Oversee and implement training of bank employees on BSA/AML/OFAC related topics
Performance Standards and Competencies:
- Ability to seek out and identify problems/challenges and seek out/digest collaborative input and resolutions
- Excellent analysis and problem-solving skills and a strong sense of ownership over areas of responsibility, including follow-through.
- Possesses a willingness to do what it takes to get the job done
- Able to adapt quickly and effectively to unexpected changes; proactive and forwarding thinking.
- Strong ability to determine timing/criticality of projects/tasks, manage expectations and deliver work within expected timeframes
- Ability to effectively present information and respond to questions from bank employees,
- Directors, and member of the Board in both verbal and written forms.
- Strong ability to exercise/demonstrate good judgment and sound decision making.
- Includes appropriate people in decision-making and making timely decisions.
- Gives and welcomes feedback. Supports and promotes team success.
- Four-year college degree
- Strong skills in internet based and system-based research techniques, email communications and ability to learn other related software applications as required
- 3+ years BSA banking compliance experience, audit and/or risk management
- Deep understanding of the rules, laws and guidance applicable to money laundering, including the Bank Secrecy Act, the USA PATRIOT Act, US Treasury FinCEN AML/CTF guidelines, OFAC SDN and country sanctions.
- Must be well-informed on BSA/AML/KYC and OFAC matters as well as customers, financial products, services, and bank operations
- Experience interacting successfully with federal banking regulators.
Qualified candidates may send their resumes to Donna Freeland (firstname.lastname@example.org).