Bank Secrecy Act Officer

Bank secrecy act officer

Milan, IL

Duties and Responsibilities:

• Administering the Bank’s BSA/AML Program, to ensure Bank is compliant with standards set forth by FinCEN and other regulatory agencies
• Overseeing and developing applicable BSA related policies, related risk assessment, and associated procedures
• Ensuring all BSA required reporting is complete within applicable periods
• Researching legislative and regulatory changes, as well as emerging risks affecting the Bank’s BSA Program
• Working closely with regulators and auditors in preparing for external audits and examinations pertaining to the Bank’s BSA/AML Program
• Managing and serving as the administrator the third party BSA/AML Software and tracking of alerts generated by the Software or employee reported incidents
• Overseeing Case Management and conducting analytical reviews of transactions and potential incidents of fraud (whether determined by Software or employee reporting)
• Monitoring the completion of new employee and annual BSA Training requirements, as well as, developing and conducting training with applicable departments, as needed
• Managing  the Bank’s Customer Identification Program, including implementing quality control procedures to further strengthen data validation practices
• Responsible for overseeing the Bank’s Customer Due Diligence Program, including implementing of additional enhanced due diligence standards as risks are identified
• Serving as the primary contact for management of the Bank’s 314(b) Information

Position Requirements: 

• Bachelor’s degree in finance, accounting, business administration, or a related field
• Five years' experience in a BSA/AML compliance role is preferred
• In-depth knowledge of BSA/AML regulations, including the USA PATRIOT Act, OFAC, and FinCEN requirements
• Strong understanding of risk management principles and practices
• Proficiency in using BSA/AML software and systems for monitoring and reporting
• Excellent analytical and critical thinking skills
• Ability to effectively communicate with regulatory agencies, auditors, and bank employees
• Experience in developing and implementing BSA/AML policies and procedures
• Ability to conduct training sessions for bank staff on BSA/AML compliance

EOE, including disability/vets

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