AML/BSA Officer

Job OverviewThe credit union's AML/BSA Officer is responsible for ensuring the organizations daily compliance with the Bank Secrecy Act, USA Patriot Act, OFAC, and all other applicable anti-money laundering laws (collectively the AML/BSA program). This individual will provide direction and decisions regarding banking regulations and procedural guidelines to business units on transactional, documentation, and government reporting issues (specific to the existing AML/BSA program). Finally, the individual will be responsible for assisting the VP, Risk Management with managing the organization's retail office audit programs.ResponsibilitiesManage and control compliance with the Bank Secrecy Act, USA Patriot Act, OFAC, and all other applicable laws. Ensures adequate policies and procedures are in effect to combat money laundering and implement best practice standards for "Know Your Customer" initiatives.Develop and maintain the process required for effectively monitoring cash, ACH, Bill Pay, Money Orders, Cashier's Checks, Traveler Checks and Wire Transfer transactions as required by Federal regulations.Document the AML/BSA monitoring and reporting procedures for Risk Management.Monitor all currency transactions, identify those transactions that require a CTR and ensure CTR is filed within required timeframes, maintain relevant Watch Lists, Currency Transaction, Suspicious Activity, and High-Risk Customer reports.Responsible for detecting elements of potential AML/BSA violations, investigating noted anomalies utilizing internal/external resources, and rendering decisions regarding the need to report matter to proper authorities (FinCEN, IRS, etc.).Provide branch staff with guidance in determining when transactions require completion of any/all government documents (CTR, SAR, etc.). Ensure all regulatory documents are filed in a timely and accurate mannerProvides proactive and reactive advice regarding day-to-day AML/BSA issues.Develop and maintain existing AML/BSA/OFAC compliance manuals and review other bank policies and procedures manuals, where appropriate. They will also be responsible for developing and/or conducting AML/BSA/OFAC education sessions from time-to-time.Individual is expected to respond to potential inquiries from examiners and auditors relative to AML/BSA inquiries.Assist in the development, preparation, and documentation the AML/BSA/OFAC annual risk assessment across all lines of business.Stay apprised of proposed rules, new or changed laws and regulations as well as emerging issues, hot industry topics, and money laundering, financial crimes, or terrorist financing trends to enhance the BSA/AML Compliance Program as appropriate.Perform regular audits of branch office operations at locations across the credit union's footprint as well as audits of new Business Accounts for compliance with policy.Provide additional support to the department (i.e., Disaster Recovery, Fraud, Audit, Legal), as needed.Qualifications and Education RequirementsMust possess a solid understanding of AML/BSA/OFAC regulations as they apply to the organization, including retail, wholesale, international banking, brokerage, and/or insurance services.College degree with a focus on business or criminal justice. Certified Anti-Money Laundering Specialist (CAMS) designation from ACAMS.10+ years' experience working within a financial institution's AML/BSA program.Other associated industry designations (e.g., Certified Fraud Examiner) preferred.Familiarity with AML/BSA monitoring systems preferred.Knowledge of general banking operations, policies and procedures preferred.Additional Skills/NotesMust have excellent communication and problem-solving skills.Successful candidate will have strong analytical skills.Ability to work independently as well as part of a team.Given the sensitive nature of activities, individual must maintain extreme confidentiality regarding all activities.Knowledgeable regarding the organization's and retail office audit program and policies preferred.Performance MeasurementsPerformance is based on the Citadel corporate scorecard as well as departmental and individual goals.Work EnvironmentIndividual will be required to work in an office setting as well as those conducive to the financial services industry. This may involve standing, sitting, and walking around retail/administrative facilities. Individual can expect to work in a fast-paced environment which is constantly evolving. They will have a significant amount of interaction with customers, many of whom may be upset and/or agitated because of their situation. Candidate will spend a significant amount of time assessing information contained in on-line and hard-copy reports. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.Physical DemandsPosition may include a reasonable amount of physical activity such as lifting (max. 25lbs.), carrying, standing, walking, sitting, typing, labeling, or reading for extended periods of time. Due to the nature of this position travel may be required. This candidate must be able to provide his or her own transportation for local travel.EEO StatementCitadel is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to status as a protected veteran or a qualified individual with a disability, other protected status, such as race, religion, color, national origin, sex, age. We maintain a drug-free workplace and may perform pre-employment substance abuse testing.Equal Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThe contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

Created: 2024-11-02