BSA/AML Manager
Apply NowCompany: Ridgewood
Location: Ridgewood, NY 11385
Description:
The estimated salary for this position is $85,000-$105,000/Annually.
Duties and Responsibilities/Results:
Job Specifications:
Duties and Responsibilities/Results:
- Assist the BSA Officer with day-to-day oversight of the department,
- Assist in the oversight of branches and departments adherence to requirements governing specific sections of USA PATRIOT Act, BSA, OFAC, and FinCEN regulations, by developing and implementing best practice review and reporting process.
- Reviews and Ensures timely completion and filing of non-reportable SARs, reportable SARs (both initial and continuing), and CTRs by working with the AML case management system in performing and approving case investigations and report filings. Act as a back-up for completing and filing CTRs and SARs.
- Review and make Decisions on Security Investigation Referral (SIRs) and Questionable Activity Report (QARs) submitted by business lines.
- Review case investigations performed by BSA analysts to ensure they were properly cleared. Escalate cases as needed. Act as a back-up to investigate cased created by the AML monitoring system.
- Administer EDD process to ensure timely completion of reviews to enable the business banking development, by monitoring, enhancing and implementing process improvements. Act as a back-up for completing of EDD reviews.
- Implement process improvements by identifying areas of improvement and working with IT to develop AI opportunities.
- Maintains a high level of productivity among department subordinates through careful supervision, including training, disciplining, evaluating, and making recommendations of hiring, terminating and salary increases.
- Ensures Branch and Department staff is up to date and informed of all regulatory changes by attending various webinars and seminars related to Anti money laundering and BSA.
- Assist the BSA Officer with the completion of the annual BSA and OFAC Risk Assessments by performing required analysis and preparing Risk Assessment documents.
- Maintains BSA policy and procedure documents by updating documents with enhancements on an ongoing basis.
- Ensures AML Monitoring system is operating at an optimal level by conducting data validation feeds, performing analysis to identify opportunities for optimization, testing and implementing system upgrades as necessary.
- Assist with the administration of the fraud team, by collaborating with business lines to develop a comprehensive fraud program.
- Assist the BSA Officer with Federal and State Regulators, Consultants and branches by responding to questions, during exams, reviews and daily issues and questions.
- Assists as needed by performing other related duties that may be necessary from time to time.
Job Specifications:
- Bachelor's degree preferred in Business, Finance or related field.
- ACAMS designation is preferable Or willingness to obtain within 2 years of hire date.
- Strong analytical, critical thinking and problem-solving abilities.
- Case management skills
- Experience with fraud risk analysis a plus
- Experience with Commercial Banking a plus
- Incumbent should have at least 5-10 years in BSA/AML or Bank management experience with demonstrated managerial experience.
- Incumbent should have demonstrated ability to build and maintain rapport with supervisors, peers and subordinates
- A demonstrated ability to be an effective manager and leader, which includes assisting in the career development, coaching and talent management of the BSA team.
- Knowledge of FISERV core system or similar is desirable, but not required.
- Excellent written and communication skills.
- Knowledge and experience in Bank Secrecy Act and Anti-Money Laundering required, within the Banking industry.
- Knowledge and experience with AI OASIS (Patriot Officer) is a plus or an equivalent BSA/AML monitoring software.
- Demonstrated knowledge in interviewing, information gathering and verbal/written communicatory skills when dealing with department heads and management.
- Demonstrated ability to coordinate, delegate, manage & monitor projects of an assigned nature Independently and regularly.
- Fully on-site position.