BSA SPECIALIST ON-SITE

JOB SUMMARY

The Bank Secrecy Act (BSA) Specialist will prevent money laundering at the money source and be responsible for assisting the BSA Officer with compliance monitoring reviews and other special projects to measure and understand the state of regulatory compliance for the organization. As criminal activity is suspected, the BSA Specialist will start the investigation process by creating a case file and working with the BSA Officer to further investigate the customer and their actions. This may include investigating and identifying activity for possible Suspicious Activity Report (SAR) filings; researching and determining if a SAR should be filed; ensuring all required filings, reports, reviews, and duties are completed and submitted timely; and meeting all regulatory guidelines. The BSA Specialist will provide investigative support regarding possible Suspicious Activity Report (SAR)/Currency Transaction Report (CTR) and provide research, guidance and determination for OFAC clearing items related to consumer and business transactions or other BSA requirements.

ESSENTIAL DUTIES AND RESPONSIBILITIES

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions

• Reviews new CIF records daily to ensure compliance with our Customer Identification Policy (CIP) as defined within the BSA Program.
• Completes record of CIP Exception Errors and communicates errors with all employees on a weekly basis and at month end to Executive Management for items outstanding 30 days.
• Reviews daily work-list generated in BSA REDI for missing CIP information and communicates with branch employees to obtain and clear any exceptions for missing information
• Reviews various work-list generated in BSA REDI for anti-money laundering (AML) enhanced due diligence and risk rating. Clear any exceptions and make SAR referrals for any items that are suspicious and may need reporting.
• Ensures all outgoing wire transfers have been checked against the OFAC and Section 311 listing.
• Reviews ACH and OFAC hits/suspects as identified in nightly OFAC search or core systems and ACH files.
• Reviews and documents all OFAC file updates are received from JHA Allen Data Center.
• Completes kite reviews as requested by branches and Deposit Operations.
• Receives and completes FinCEN 314a notification; reviews and reports search results and documents as outlined by policy.
• Reviews Large Cash Transaction Reports daily to ensure currency transaction reports are completed properly for all reportable transactions and that they are submitted timely via BSA e-filing and proper documentation is retained.
• Ensures all CTR’s and SAR’s are filed electronically within the proper timeframe.
• Reviews Red Flag Response forms to include identification of and proper resolution.
• Assists with annual review of exempt customers and completion of review form required by the Internal Revenue Service (IRS). Reviews history for accounts that CTR’s are routinely completed and complete exemption request when applicable.
• Reviews OFAC hits/suspects as identified in nightly OFAC search for bill payment payees in NetTeller.
• Performs additional compliance testing and support as needed.

QUALIFICATIONS

• Experienced risk/control/compliance professional with at least 3 years compliance with Bank Secrecy Act regulations in the banking industry.
• Must have current working knowledge of the banking industry’s servicing regulations and guidelines.
• Sound knowledge and understanding of BSA/AML, Office of Foreign Assets Control (OFAC) and USA PATRIOT Act regulations.
• Basic knowledge of the organization’s various operating systems and/or willingness to learn.
• Excellent decision making, analytical and investigative abilities with attention to detail and accuracy.
• Strong written and verbal communication skills and effective organizational abilities.
• Ability to work independently with a high level of initiative, and to research, and problem solve.
• Capacity to manage resources, time and organizational skills to meet deadlines, prioritize tasks, follow through on projects, and document results.
• Familiarity with Microsoft Office products.

AAP/EEO Statement

This statement of policy reaffirms South Atlantic Bank’s policy of equal employment opportunity in employment, compensation, training, transfers, promotions and all other aspects of employment regardless of race, color, religion, national origin, age, sex, veteran status, physical or mental handicap/disability and to state that we do carry out this policy at South Atlantic Bank. This policy also applies to all company-sponsored activities such as educational programs, tuition aid and social and recreational activities.