BSA Operations Supervisor

General Summary 

The BSA/AML Operations Supervisor is responsible for overseeing daily AML compliance functions, managing the BSA team to ensure timely filing of SARs/CTRs, adherence to regulations, and high-quality investigation of suspicious activity. They will optimize processes, provide training, and act as a liaison between staff and management. 

ESSENTIAL DUTIES AND JOB RESPONSIBILITIES -

1. Supervise, train, and develop the team, ensuring high performance.
2. Monitor daily AML transaction monitoring, alert investigations, Enhanced Due Diligence (EDD), and Currency Transaction Reports (CTR).
3. Act as backup to BSA Officer in their absence.
4. Monitor, investigate, and answer the BSA/AML Monitoring software alerts to uncover money laundering and other illicit schemes and create cases when necessary.
5. Conduct investigations as a result of accounts identified through analysis or in response to reports of unusual activity.
6. Collaborate with company personnel regarding interactions with customers to aid in investigations.
7. Conduct timely and thorough reviews of potentially suspicious activity through case management
8. Escalate suspicious activity cases to the attention of the BSA Officer
9. Review Currency Transaction Reports (CTR’s) for compliance; file on a timely basis; address errors with bank personnel.
10. Conduct Enhanced Due Diligence (EDD) reviews on new and existing High Risk Customers.
11. Ensure that proper risk ratings are assigned to customers and are accurately reflected in the BSA/AML Monitoring Software.
12. Conduct internal audit and regulatory examinations; ensure appropriate documentation is maintained and available and findings are addressed and corrected in a timely manner.
13. Participate in and make recommendations with respect to the decision process for reporting suspicious activity to FinCEN. 
14. Coordinate the periodic validation of BSA systems.
15. Update all bank department and trust department employees regarding all BSA regulatory additions and changes affecting daily departmental operations, procedures, and/or programs.
16. Ensure BSA recordkeeping and reporting requirements are processed in accordance with established guidelines and regulation timelines.
17. Ensure appropriate documentation is maintained and available for internal/external audits and legal requests

Maintain compliance with OFAC related laws, regulations, and acts

1. Inform bank personnel with potential OFAC matches and conduct necessary research to ensure OFAC compliance.
2. Ensure that the OFAC reviews are conducted appropriately and in a timely manner.
3. File the appropriate OFAC Annual Report of Blocked Property when warranted.

Maintain compliance with 314a & 314b regulations

1. Investigate possible matches or requests generated by the BSA/AML monitoring software.
2. Provide notice to FinCEN annually that we are participating in 314b information sharing as required.

Customer Information Procedures (CIP)

1. Review all new accounts for proper account opening documents, identification, and anticipated activity
2. Follow–up and work with Branch managers to resolve any irregularities that come from newly opened accounts identified by CIP review.

Maintain Policies and Procedures

1. Update policies and procedures to ensure compliance with BSA OFAC regulations, including customer and enhanced due diligence requirements. 
2. Recommend policy changes as necessary to the BSA Officer. 

Training

1. Cross train on other department functions to be able to provide support if needed. 
2. Perform all duties and projects as assigned by management.

OTHER RESPONSIBILITIES

Confidentiality

All information handled is highly confidential.

Mental Application

This position relies on established laws and regulations to make judgments. Must be able to read and interpret those laws and regulations. 

Responsibilities

Civil monetary penalties could be extensive and goodwill is a risk.

Contacts/Internal and Public

Direct contact with bank personnel, as well as state and federal examiners. 

EDUCATION, CERTIFICATION, EXPERIENCE:

Education:

Required: Two-year banking, business, or law related degree (or equivalent job-related compliance experience).

Preferred: Bachelor’s degree

Experience: 

Required: 5 - 7 years direct regulatory compliance experience in BSA and OFAC (in a BSA Department)

 3 - 5 years’ Management experience Preferred: 8 - 10 years regulatory compliance experience in BSA and OFAC. An understanding of the Verafin software. 

KNOWLEDGE, SKILLS, ABILITIES:

• Knowledge of banking, the internal structure of a bank, elements of bank operations and services. 
• Understanding of bank secrecy, patriot act, OFAC and privacy laws and regulations.
• Must be a self-starter with the ability to take initiative and utilize judgment to ensure the efficient and profitable operation of a branch. 
• Possess Leadership, managerial, and business development skills 
• Demonstrated ability to lead a successful team. 
• Effective communication skills.
• A high level of confidentiality is required. 
• Position has access to customer’s accounts, credit reports and financial information. 
• Position also has access to certain information that must be kept confidential. 
• This position interacts with a large number of internal and external contacts. 

WORK ENVIRONMENT: 

1. Typically the noise level in the work environment is low to moderate. 
2. Will have high volume of interactions in person and over the telephone. 
3. Fast-paced environment. 
4. May experience occasional job stress in response to job demands. 

PHYSICAL DEMANDS:

1. Frequently required to sit for prolonged periods of time.
2. Mobility required greeting and assisting employees and visitors.
3. Frequently required to skillfully operate a computer, telephone and other standard office equipment.
4. Travel between all locations of the bank.

Special Note:

External and internal applicants, as well as position incumbents, must be able to perform the essential job functions as set forth above. Orange Bank and Trust Company is committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of age, sex, sexual orientation, race, color, creed, religion, ethnicity, national origin, alienage or citizenship, disability, marital status, military status or any other legally-recognized protected basis under federal, state or local laws, regulations or ordinances.

Upon request, individuals with disabilities may be entitled to a reasonable accommodation. A reasonable accommodation is a change in the way things are normally done that will ensure an equal employment opportunity without imposing an undue hardship on the bank. Please inform the Human Resources Department if you need assistance completing any forms or to otherwise participate in the application process or, at the appropriate time, to perform the essential functions of the job. 

This job description in no way states or implies that these are the only duties to be performed by an employee. Additional functions and requirements may be assigned by supervisors as deemed appropriate, based on the employee’s knowledge, skill and ability as well as his/her mental and physical abilities.