VP, BSA Officer
Company: CENTREVILLE BANK
Location: West Warwick
Posted on: May 25, 2023
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Job Description:
Description:The BSA Officer is responsible for the
implementation and administration of all aspects of the Bank
Secrecy Act compliance program, under the guidance of the SVP,
Chief Compliance Officer. The BSA Officer advises Senior Management
and Bank Personnel of emerging BSA compliance issues and consults
and guides the Bank in establishment of controls to mitigate risks
This position performs various periodic quality control reviews and
monitoring pertaining to the Bank Secrecy Act, USA PATRIOT Act,
Anti money laundering, OFAC and Customer Identification Program
(collectively the BSA) compliance using industry standard and
regulatory guidance to ensure the Bank's compliance efforts are
maintained. The BSA officer is required to be fully
knowledgeable/proficient in the BSA and skilled in all areas of the
department.Responsible for the development and oversight of the
Bank's risk based BSA program.Maintain current knowledge of the
Bank Secrecy Act and all related anti-money laundering and OFAC
regulations.Manages and oversees the daily review, monitoring, and
analysis of various reports, logs, and transaction data to identify
trends, unusual activity, and monitor large currency activity;
determines if transactions are suspicious in nature, such as
kiting, significant changes in balances, cash structuring in
deposits, loans payments, wire or ACH transfers, monetary
instrument sales, new account openings, etc.Develop, coordinate,
and facilitate training programs, sessions, and seminars to educate
bank personnel about BSA related compliance requirements and
procedures.Coordinate the development and implementation of Bank
forms, notices, and procedures and monitoring processes for
compliance with the Bank Secrecy Act and related
regulations.Prepare for and coordinate regulatory and internal
audit examinations.Ensure compliance with 314(a) and 314(b)
(PATRIOT Act) responsibilities. Researches and responds to
information requests from FinCEN and other government
entities.Oversee and coordinate the monitoring of account activity
for suspicious patterns and activity, conducts suspicious activity
report (SAR) investigations, decide when to file suspicious
activity reports, and file SARs when applicable.Oversees and
responsible for the review, approval, and filing of all Currency
Transaction Reports (CTRs) within required timeframes.Prepare
reports for the Board of Directors on a periodic basis and ensure
that the Board is kept fully informed of the BSA program, including
but not limited to: a) Sending suspicious activity reports to the
Board b) Training Board members and other senior management on BSA
compliance c) Presenting the written risk assessment and Bank
Secrecy Act policy to the Board annually.Maintain current knowledge
of all federal and state laws and regulations, along with the
Bank's policies and procedures.Prepares the annual BSA Risk
Assessment. Responsible for maintaining/updating the BSA
Policy/Program documents an ensuring board approval is received
annually.Administers automated BSA/AML/Fraud system, Oversees, that
alerts are researched and resolved timely, and investigations are
conducted and documented fully within the system.Conducts
self-assessments and assists in preparation and coordination of
independent audits and regulatory examinations.General
ComplianceProvides assistance to the Compliance Department when
needed.Assists in special projects and tasks for the department as
directed.Assists in the development, revision or review of bank
policies, procedures, disclosures, notices, and forms to ensure
compliance with BSA, comply with legislative and
regulatory.Requirements:Bachelor's degree or equivalent Banking
experience.10+ years general banking or regulatory experience, with
an emphasis in BSA compliance and Operations. Previous experience
managing High Risk BSA BSA/AML Programs, and experience with
MSBs/MRBs.Certified Anti Money Laundering Specialist Certification
required.10+ years Management and supervisory experienceExcellent
oral and verbal communication and training skills.Maintain current
knowledge of regulations.Ability to resolve issues, work
independently with little or no supervision and meet
deadlines.Ability to proactively identify and assess potential
concerns and risks.Interact effectively with co-workers and other
Bank employees.Read and comprehend detailed information.Understand
the operational and loan functions of the Bank.Recognize, evaluate,
and resolve problems.
Keywords: CENTREVILLE BANK, Warwick , VP, BSA Officer, Executive , West Warwick, Rhode Island
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