BASIC FUNCTION SUMMARY:
The BSA Specialist supports the Bank’s compliance with the Bank Secrecy Act (BSA), USA PATRIOT Act, and Anti-Money Laundering (AML) laws and regulations by reviewing transaction alerts, performing due diligence reviews, and assisting with required regulatory reporting. The incumbent works under the direction of the BSA Officer and in close coordination with the BSA Investigator, branch personnel, and other departments within the bank to ensure timely resolution of assigned tasks and accurate documentation of compliance activity. This role serves as an essential contributor to the bank’s first line of defense in identifying and addressing potential financial crime risk.
The following duties are not intended to serve as a comprehensive list of all duties required in this position. This job description is intended to provide a representative summary of the major duties and responsibilities. This role may not be required to perform all duties listed and may be required to perform additional duties as requested.
ESSENTIAL FUNCTIONS: Duties, Skills, Responsibilities and Expectations:
- Review daily BSA/AML alerts and transaction monitoring reports; conduct initial investigations and document findings in the case management system.
- Perform Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), and annual exempt customer reviews, documenting results per policy.
- Review and respond to FinCEN 314(a) requests and OFAC alerts from various systems (wires, ACH, bill pay), escalating potential matches as needed.
- Prepare and file Currency Transaction Reports (CTRs) accurately and timely; assist with maintaining supporting documentation.
- Assist in the review of Red Flag alerts, Large Cash Transactions, and kite activity, ensuring proper identification and documentation.
- Maintain and communicate weekly CIP exception reports and escalate unresolved items to management after 30 days.
- Support internal and external audits or regulatory exams by gathering documentation and assisting with response coordination.
- Monitor for potential control gaps or compliance issues and report findings to the BSA Officer or Investigator.
- Participate in BSA/AML projects, testing activities, and training initiatives as assigned by the BSA Officer.
- Remain current on BSA/AML regulatory developments and best practices.
- Undertake additional tasks assigned to support departmental functions.
- Must comply with all bank policies and procedures that are job related and/or consistent with business necessity.
WORKING CONDITIONS:
- On-site
- Air-conditioned office environment
- Smart Casual
PHYSICAL DEMANDS:
- Alternating sitting or standing at will as needed
- Walk, stand, bend, squat, twisting and reaching.
- Consistently operate a computer and other productivity equipment through method of both Fine and Gross Manipulation
- Ability to perceive sound in the capacity of oral communication
