Bank Secrecy Act Officer
Position: Bank Secrecy Act Officer
Job Summary The Bank Secrecy Act Officer is responsible for developing, implementing, administering, and maintaining all aspects of the Bank Secrecy Act/Anti-Money Laundering Compliance Program which will be designed to ensure a high level of compliance with the BSA/AML related laws and regulations, internal policies and procedures and Federal regulatory expectations. The position of Bank Secrecy Act Officer is required to be fully knowledgeable and skilled in all areas of BSA/AML Compliance and be able to independently recognize, develop, and implement cost effective compliance related solutions for the BSA/AML program. The incumbent in this position is assigned the following roles: BSA/AML Officer, OFAC Officer.
Job Functions Coordinate and oversee an effective Bank Secrecy Act/Anti-Money Laundering/OFAC Compliance Program that is in line with current industry best practices, regulatory guidance and requirements. Enhance, develop, implement and administer the BSA/AML/OFAC/USA Patriot Act monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity. Establish and maintain an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments, and review and analysis of unusual/suspicious account activity. Establish and maintain appropriate SAR investigation, review and reporting processes that promote consistent decisions; adequate investigation and research; and complete and detailed documentation. Conduct BSA/AML/OFAC risk assessments annually or as needed with consideration to products, services, customers, and geographies that may present BSA/AML/OFAC related risks. Annually collect and report data required for the OCC Money Laundering Reporting System. Responsible for ensuring all required regulatory reporting is conducted in a timely, accurate, and compliant manner, including the filing of Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) to Fin CEN, as well as, FinCEN 314(a) and 314(b) procedures and reporting. Act as liaison/contact for Federal and State examinations and internal and external independent reviews or audits of the BSA/AML/OFAC compliance programs. Participate in response to exam and audit concerns and oversee corrective action of all related compliance deficiencies or violations. Assist Compliance Officer with updates and revisions to BSA/AML/OFAC policies and procedures and preparation of monthly BSA statistics for the Board of Directors. Assist Compliance Officer with administration of BSA/AML/OFAC related training programs to Directors, Management, and Employees and provide BSA guidance and coaching to employees. Stay abreast of and analyze developing industry and compliance trends, scams or schemes, and changes to laws and regulations pertaining to BSA/AML/OFAC/USA Patriot Act. Advise Compliance Officer of emerging risks, new or amended laws, regulations, or agency guidance and recommend and implement changes and controls to mitigate those risks.
Qualifications Bachelor's degree or equivalent experience. BSA/AML Certifications preferred. Minimum of five (5) years of prior financial institution BSA compliance experience in developing and implementing BSA/AML/CIP/OFAC policies, programs and procedures.
Extensive knowledge of Bank Secrecy Act/Anti Money Laundering/U.S. Patriot Act, OFAC Regulations. General knowledge and understanding of bank deposit operations, lending activities, and other related consumer banking and compliance functions. Strong interpersonal, communication (written and verbal), and organizational skills with the ability to work independently, as well as, collaboratively within a team environment. Ability to interact effectively with all levels of management, legal counsel, law enforcement, regulators and examiners while maintaining strict confidentiality. Strong decision making, analytical and investigative abilities with attention to detail and accuracy. Proficient in Microsoft Office Suite (Word, Excel).
Marathon International Bank (In Formation) is an Equal Opportunity Employer
We are an Ethiopian American community bank, chartered as a Washington DC commercial bank.
To help transform the Ethiopian Diaspora into a far more economically engaged, creative and vibrant member of the wider and diverse US community.
To become a differentiated provider of financial services by leveraging our understanding of the unique financial needs of the Ethiopian Diaspora.
Sat, 2 Sep 2017 15:46:18 PDT