Position Overview

This entry level position is responsible for assisting the BSA/OFAC Officer with the Bank's mitigation of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) risk. The BSA/OFAC Specialist will review basic account criteria against an established set of parameters in order to determine ultimate disposition of assigned alerts.

Essential Job Functions:

• Assist with supporting the Bank in the comprehensive end-to-end processes of the BSA/AML/OFAC program.
• Provide support to lines of business for BSA/AML-related issues.
• Investigate alerts of potentially suspicious activity from the AML monitoring system, including analysis of transaction activity and document conclusions in the AML system.
• Prepare customer activity analysis documentation and written recommendations for potential suspicious activity reports (SARs) for the SAR committee.
• Interact with lines of business to understand customer activity, as needed.
• Perform CIP and beneficial ownership validation and distribute weekly reports to lines of business.
• Conduct and analyze FinCEN 314(a) search requests in accordance with regulatory expectations.
• Review customer due diligence and account due diligence for new deposit accounts, including identifying potentially new high risk customers.
• Responsible for reviewing, correcting, and creating (as needed) CTRs for submission; conduct follow up with lines of business as needed.
• Review, research and certify all OFAC suspects generated on SilverLake each time the SDN List is updated. Complete Wealth OFAC review monthly.
• Assist lines of business with research of potential OFAC matches, as needed.
• Assist with BSA/AML audits and exams and the corrective action plans related to such BSA/AML audits and exams that are assigned to the BSA Department.
• Perform various other duties and work on various projects as assigned.
• Other duties as assigned.

Additional Job Functions

• Serve as an additional resource for questions regarding BSA/OFAC policies and procedures.
• Remain current with changes in BSA regulations and assists in the development of related procedures.
• Comply with all Company policies and
• The BSA/OFAC Specialist does not have any supervisory duties.

Minimum Qualifications

• High School diploma (or equivalent), and two or more years of retail or commercial banking experience required.

Competencies

• Proficient in using core banking software, BSA monitoring software such as Jack Henry's YellowHammer BSA, and Window 2010 Office software.
• Basic knowledge of Bank services and products.
• High degree of accuracy and attention to detail.
• Strong analytical skills.
• Experience working in a fast paced environment; prioritizing work and multi-tasking
• Good working knowledge of the Bank, its policies and procedures and federal regulations pertaining to BSA/AML and OFAC.

Preferred, but not required

• Three or more years banking experience strongly preferred
• Bachelor's degree a plus
• One or more years related experience and/or training in BSA/AML Compliance
• Prior experience working with BSA monitoring software preferred