BSA Officer

BSA Officer

Summary Statement:

The BSA Officer is responsible for creating, deploying, organizing and administering the Bank’s BSA/AML Program systems and controls, analyzing the risk of complex clients/industries, evaluating new opportunities to serve industries that events of suspicious activity and/or money laundering to ensure that all potentially suspicious events are appropriately identified, documented, and reported within specified timeframes.

Primary Duties And Responsibilities:

  • Ensure the continuing evolution of and efficient execution of the BSA/AML/OFAC Program. Collaborates with the executive team on periodic basis and annual strategic planning priorities.
  • Develops and tracks the BSA team and program metrics, conducts presentations to management and the board on the status of the program, as well as enhancements and recommendations.
  • Leads BSA compliance training efforts for all employees and the board of directors.
  • Conducts secondary reviews and act as the escalation conduit for all due diligence and investigation review concerns, providing guidance and feedback to BSA team members as needed.
  • Conducts BSA/AML risk assessments across bank programs, clients, products, and geographies and identifies changes in risks.
  • Monitors input programs and software designed to detect, investigate, and report potentially suspicious transactions, fraud and other possible violations of laws, regulations, policies and procedures.
  • Responsible for team’s review of new account records and document files, as well as account activity for all customers to ensure the customer-type is acceptable to the Bank and fits within the Bank’s BSA/AML risk profile, as well as to detect customer identification issues and to ensure proper risk identification and applicable customer risk rating.
  • Monitors and documents outcomes of OFAC concerns and assists in preparing various management and board level reporting; in addition to annual required regulatory reporting.
  • Understands key requirements from external entities such as auditors and regulators and ensure policies and procedures are implemented and maintained to meet these requirements.
  • Prepare for regulatory examinations and independent audits, assist in completing periodic BSA/AML/ OFAC risk assessments.
  • Stays abreast with industry news and regulatory updates, shares topics of concern to the bank with appropriate levels of staff and management.
  • Ensures timeline detection and filing of CTRs in the Bank’s BSA software system.
  • Determines if a SAR should be filed with Financial Crimes Enforcement Network (FinCEN); ensures accurate completion and filing of SARs ensuring they are properly documented with related narrative and supporting documentation within regulatory timeframes and in accordance with the Bank’s Bank Secrecy Act Compliance Program and related policies and procedures; ensures non-SAR decisions are thoroughly substantiated and appropriately documented.
  • Compiles data, and maintains necessary records and files to ensure efficient and consistent reporting of all suspicious investigations.
  • Ensures ongoing forensic “Enhanced Due Diligence” reviews on the Bank’s High and Moderate risk rated customers are conducted and documented.
  • Manages multiple technically complex suspicious events involving matters such as multiple relationship accounts, tiered and multi-faceted transactions, domestic and international wires (some involving Bank designated high risk jurisdictions), and complex cash structuring schemes.
  • Maintains excellent knowledge of the rules and regulations, including but not limited to, the Bank Secrecy Act, USA Patriot Act, and OFAC.

Supervisory Responsibility:

Renders direct supervision of personnel as assigned.

Environment And Physical Activity:

The incumbent is in a non-confined office type setting in which he or she is free to move about at will.
The incumbent in the course of performing this position spends time writing, typing, speaking, listening, lifting (up to 10 pounds).
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Minimum Requirements:

These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.

  • Bachelor’s degree and 5 years of related experience and/or training; or the equivalent combination of education and experience. Work related experience should consist of an in-depth background in financial institution operations, security, compliance, or legal areas involving Bank Secrecy Act compliance, investigations or fraud prevention. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be applicable to the financial industry, or regulatory or law enforcement agency.
  • Intermediate experience, knowledge and training in all operational and lending activities and terminology.
  • Advanced knowledge of related state and federal banking compliance regulations, Bank operational policies and procedures, and the Bank’s products and services.
  • Advanced knowledge of BSA/AML regulations pertaining to suspicious or money laundering related customer activity, including preparation and filing of SARs.
  • Advanced knowledge and ability to detect and identify various white collar crimes, general fraud, and money laundering schemes using BSA/AML software and AML compliance monitoring systems.
  • Ability to read, analyze and interpret general business periodicals, professional journals, and technical procedures.
  • Excellent organizational and time management skills.
  • Exceptional verbal, written and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence and procedures, speak clearly to customers and employees.
  • Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
  • Advanced skills in computer terminal and personal computer operation; core computer system; word processing, spreadsheet and specialty software programs.
  • Intermediate typing skills to meet production needs of the position.
  • Intermediate math skills; ability to calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
  • Ability to work with no supervision while performing duties.

Partners Bank of California is an Equal Opportunity Employer.

Work with staff members and clients without regard to race, ancestry, national origin, sex, marital status, age, religion, medical condition, handicap, disability or veteran.
Compliance with Bank Secrecy Act laws and regulations is considered an extremely serious matter, and it is intended that Partners Bank, through the purposeful efforts of its employees and officers, are expected to make every resolute attempt to conform to its Bank Secrecy Act/Anti-Money Laundering Program and Procedures. Failure to comply will be reflected in their performance review as well as in any bonus compensation programs in which they may participate.
Attend and complete all required classroom, computer-based, web-based and seminar training. It is the individual responsibility of every employee to maintain a current awareness and understanding of and to fully comply with Partners Bank’s “Code of Ethics and Conduct.” Each employee is also expected to maintain an awareness of the laws, regulations, internal policies and procedures that are appropriate for his/her position
Note: The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. All job descriptions can be amended without notice as warranted by business necessity.