Job Description
Primary Responsibility
The Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Officer is responsible for supporting the Bank’s compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC), and related regulations. This role involves monitoring, investigating, and reporting suspicious activity, ensuring adherence to regulatory requirements, and maintaining the integrity of the Bank’s BSA/AML Program. The BSA Analyst will also be required to cross train on other Risk Department responsibilities such as, but not limited to, fraud identification & management and physical security. The ideal candidate will have strong analytical skills, attention to detail, and a solid understanding of regulatory compliance in a banking environment.
SALARY RANGE:
$68,500 - $78,500
Primary Responsibility
The Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Officer is responsible for supporting the Bank’s compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC), and related regulations. This role involves monitoring, investigating, and reporting suspicious activity, ensuring adherence to regulatory requirements, and maintaining the integrity of the Bank’s BSA/AML Program. The BSA Analyst will also be required to cross train on other Risk Department responsibilities such as, but not limited to, fraud identification & management and physical security. The ideal candidate will have strong analytical skills, attention to detail, and a solid understanding of regulatory compliance in a banking environment.
Essential Functions
Monitor daily transaction activity to identify suspicious patterns, including structuring, kiting, and other red flags.
Review and investigate alerts generated by transaction monitoring systems.
Prepare and file Suspicious Activity Reports (SARs) (including 90-day follow-up reviews) and Currency Transaction Reports (CTRs) in accordance with regulatory deadlines.
Conduct Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) reviews for high-risk customers. EDD reviews require research, the gathering of documents, composing a well written narrative and making appropriate recommendations and assigning appropriate risk factors.
Review and track completion of High-Risk Customer Site Visits
Maintain current knowledge of BSA, AML, OFAC, USA PATRIOT Act, and NYSDFS regulations.
Assist in the development and maintenance of BSA/AML policies, procedures, and risk assessments.
Support internal and external audits and regulatory examinations by providing requested documentation and responses.
Assist in the compliance of 314(a) information sharing processes responsibilities.
Monitor OFAC screening results and escalation potential matches appropriately.
Provide training and guidance to bank staff on BSA/AML compliance matters.
Maintain accurate and organized documentation of investigations, reports, and compliance activities.
All other duties as assigned, including but not limited to fraud identification & management and physical security responsibilities of the Risk Department.
Education And Experience
Associates Degree and a minimum of 2 years of experience in BSA/AML compliance, or the equivalent combination of education and experience.
BSA/AML certification preferred but not required.
Strong knowledge of federal and state banking regulations, including FDIC and NYSDFS requirements.
Competencies
Excellent attention to detail.
Proficiency in BSA/AML software and Microsoft Office Suite or ability to learn.
Excellent written and verbal communication skills.
Ability to work independently and collaboratively in a fast-paced environment.
Ability to research, collect and analyze complex or diverse information.
High level of integrity and discretion in handling confidential information.
Provide a remarkable client experience. Greet clients with warmth, genuine interest and a smile.
Lead by example. Identify current or potential problems, take ownership and see them through to resolution.
Act as a unified team. Possess strong interpersonal skills including the ability to proactively communicate with and help others, within and across departments.
Preferred Skills
Experience with regulatory exams and audit processes.
Familiarity with risk-based monitoring and transaction analysis.
Strong organizational and time management skills.
Ability to interpret complex regulations and apply them to real-world scenarios.
Physical Demands
While performing the duties of this job, the employee is regularly required to use hands or fingers, handle, or feel and reach with hands and arms. The employee frequently is required to stand, sit, and talk or hear. Specific vision abilities required by this job include close vision, distance vision, and ability to adjust focus.
Work Environment
The work environment is an indoor, climate-controlled office setting.
Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
Genesee Regional Bank is an equal opportunity organization. We recruit, employ, train, compensate, and promote without regard to race, religion, color, national origin, age, sex, disability, veteran status, or any other basis protected by applicable federal, state, or local law.
THIS JOB DESCRIPTION IS SUBJECT TO CHANGE AT ANY TIME.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
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Job Tags
Bank staff, Work at office, Local area