AVP/BSA AML Compliance Partner

Title:

AVP/BSA AML Compliance Partner

Department:

Compliance

Reports to:

Interim Compliance & BSA Officer

Status:

Exempt

The AML/CFT & OFAC Compliance Partner s responsible for coordinating and monitoring day-to-day Anti-Money Laundering / Countering the Financing of Terrorism (AML/CFT) & OFAC compliance and is charged with managing all aspects of the implementation of the BSA/AML compliance program. This includes managing the Bank's adherence to the BSA and its implementing regulations, (i.e., Bank Secrecy Act (BSA), US PATRIOT Act, OFAC and/or UIGEA).

Role and Responsibilities:

Maintain the bank's AML/CFT Program including policies, procedures, processes, and internal controls by ensuring any additions or changes to the BSA/AML laws or regulations are reflected in policies and procedures, approved by the Board of Directors, as appropriate, and are implemented.

Develop, document, and complete the bank-wide risk assessment process for AML/CFT & OFAC in accordance with the bank wide risk rating methodology.

Develop and implement a system of internal controls to ensure ongoing compliance for the Customer Identification Program ('CIP'), customer and enhanced due diligence, and a transaction monitoring program including detection, investigation and reporting of suspicious activity.

Monitor for, record and/or report activity according to regulations and maintain appropriate documentation.

Designate individuals to be responsible for coordinating and monitoring certain day to day AML/CFT activities, including conducting monitoring to detect, investigate, and report suspicious activity and file Currency Transaction Reports (CTRs).

File currency transaction exemptions on appropriate listed and non-listed businesses and ensure these exemptions are re-examined and recertified, as required.

Review and, as required, recommend updates to the System Administrator for any software programs the bank utilizes to perform its AML/CFT functions.

Ensure that the confidentiality of Suspicious Activity Reporting (SAR) reporting is maintained, that supporting documentation for SAR filings is only released as appropriate and reporting to the Board of Directors is accomplished.

Develop, document, and implement a bank wide BSA training program for new hires and employees, to include job specific training for business lines, and continuing education requirements for department staff. Coordinate with the Compliance department to arrange BSA Training for the Board of Directors.

Oversee and perform regular quality control and/or quality assurance reviews across all business lines to ensure the bank's compliance with its own policies and procedures and regulatory requirements, and present to the Board of Directors or a committee thereof on a regular basis.

Develop reporting to senior management and the Board of Directors on a periodic (monthly/quarterly) basis on the status of the AML/CFT Program, risks, and any other related items using KPI, KRI, and data metrics.

Remain current on industry best practices related to AML/CFT & OFAC by attending appropriate external training based on the risk of the bank and to stay current with BSA/AML trends and emerging risks to satisfy continuing education requirements.

Manage information sharing processes with FinCEN and other banks as applicable.

Assist the Compliance department with coordinating internal audits for adherence to AML/CFT regulations and laws.

Act as a liaison with the federal and state regulatory agencies regarding AML/CFT & OFAC activities, as needed.

Ensure that any recommendations or corrective actions to address deficiencies noted in any audits or examinations are addressed and implemented in a timely manner.

Ensure that all appropriate staff are notified of all changes in regulations in a timely manner.

Be available to employees to address questions regarding AML/CFT regulations and the bank's own policy and procedures.

All other duties assigned.

Skills and requirements:.

Three (3) to five (5) years of experience in BSA/AML compliance and/or risk management within a financial institution.

BSA/AML and/or regulatory compliance certifications or designations are strongly preferred, (i.e., CAMS, CFCS, CRCM, CAFP, CBAP, or CBSO).

Proficient with Verafin BSA/AML transaction monitoring software required, and computer software applications, including CLEAR, and Microsoft Office Suite.

Duties and responsibilities require the ability to read, write, and understand oral and written instructions and complex regulations. Requires the ability to effectively communicate with internal and external leaders, customers, and employees respectfully to solve day-to-day problems involving different scenarios in routine and complex situations.

Requires knowledge of regulatory expectations, and industry best practices for AML/CFT work output including familiarity with open-source research and investigative techniques.

Well-developed communication skills to effectively work well with colleagues, and stakeholders. This is also very important as AML/CFT Compliance Manager will need to communicate key regulatory changes and updates.

Possessing strong analytical skills, paying careful and particular attention to detail, and having an investigative mindset.

Having a deep and sound knowledge of regulatory policies as regulatory compliance officers are responsible for creating and implementing policies.

Diligence and perseverance are also required as the AML/CFT Compliance Manager must be willing to see an issue through to resolution.

Comply with all federal and state regulations and rules impacting this position, meet all risk and compliance obligations, including the completion of required training.

Possess a positive attitude, and a winning mindset.

Compensation Range: $100,000-$130,000 USD

EOE DV