Deputy BSA & OFAC Officer

Office Status: Hybrid (3 days per week)

Salary: $120,000 – $160,000

Responsibilities:

• Assist with the development and maintenance of a comprehensive and up to date program to ensure ongoing compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering, and OFAC regulations.
• Assist in managing the BSA department. Ensure that all department monitoring, investigation, data validation, reporting and recordkeeping functions are performed.
• Assist with the bank-wide risk assessment for BSA & OFAC on an annual basis.
• Assist with updating the Bank’s BSA/AML/OFAC policy, procedures, and related forms & disclosures.
• Evaluate the adequacy and effectiveness of procedures and internal controls within the BSA department and business lines. Propose enhancements as needed.
• Assist in preparing for regulatory BSA examinations and audits.
• Ensure the timely performance and documentation of the annual review of the Bank’s high risk and Large and Complex customers.
• Conduct & monitor BSA/AML/OFAC training for all staff that requires initial or periodic training.
• Using software and reports, identify higher risk customers for enhanced due diligence. Ensure the maintenance of accurate and complete records on the Bank’s high-risk customers including documentation of enhanced monitoring.
• Ensure for proper completion and electronic filing of currency transaction reports (CTRs).
• Ensure for proper completion and electronic filing of Suspicious Activity Reports (SARs).
• Assist with the maintenance of the Bank’s automated anti-money laundering system.