BSA Specialist

As a member of the Fairfield County Bank Team, consider your job description to be the foundation of your responsibilities, not its boundaries. Inherent in every job is the support of the Bank’s Mission and related values and the following performance dimensions and competencies: Professionalism and Integrity, Initiative, Relationship Management, Adaptability, and Teamwork.

Purpose:

Asserts, coordinates and provides quality control for daily BSA activities.

Key Results Areas:

• Bank Secrecy Act (BSA) reporting and recordkeeping requirements
• Anti-Money Laundering (AML) requirements
• USA Patriot Act (CIP, KYC, 314a, 314b) requirements
• Office of Foreign Assets Control (OFAC) requirements
• Bank staff support

Supervised by:

AVP, BSA Officer

Supervises:

None

Essential Responsibilities:

• Supports and promotes the Bank’s Mission, Vision and Growth

• Have a comprehensive understanding of Verafin to ensure potential suspicious activity is detected and ability to escalate any potential issues with the software.

• Conduct timely and thorough reviews of potentially suspicious activity through case management. Document decision of: SAR Committee Review. Detailed documentation of review is required.

• Prepare SARs upon completion of BSA Officer’s review as necessary upon completion of an investigation.

• Review and document SAR refile case decisions; prepare continuations as needed.Detailed documentation of review is required.

• Prepare for and participate in SAR Committee meetings.

• Review CTRs through Verafin for BSA Officer review and filing; file on a timely basis; address shortfalls in documentation by branch and operations staff, and provide training to correct those shortfalls as needed.

• Review Verafin alerts weekly, including BSA/AML and all Watch List alerts.Ensure Junior staff is properly acknowledging alerts. Refer any potential custom behavior reviews to the BSA Officer.

• Monitor FinCEN 314a process.

• Ensure Verafin Customer Due Diligence Questionnaires are completed timely and accurately for all business clients. Conduct 90-day business account reviews as needed and work with BSA Officer to assign final level of risk. Detailed documentation of review is required.

• Identify and review high and moderate risk customers. Conduct regular reviews of transaction activity and work with BSA Officer to assign final level of risk. Detailed documentation of reviews is required.

• Conduct internal monitoring; may include keyword searches, below the line alert testing, wire analysis, potential cash transactions, foreign currency monitoring, cash reports, procedure testing, and Verafin data integrity reviews.

• Conduct CTR exemption reviews.

• Conduct and attend BSA/AML/OFAC training as required.

• Primary staff support with BSA/AML/OFAC issues.

• Assist and support junior and senior staff tasks.

• Assist BSA Officer with audit and examination preparation.

Other Responsibilities:

• Performs other tasks as requested by management.

Education And Experience:

Associates degree, CAMS certification and/or equivalent CBA/CFT program certification, plus a minimum of 2 years BSA/AML/OFAC experience preferred. Advanced Microsoft Office skills

Qualifications:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.