AML/CFT Officer

Position Summary

The Vice President, AML/CFT Officer is responsible for the overall design, implementation, administration, and effectiveness of The Village Bank’s Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), Bank Secrecy Act (BSA), and Office of Foreign Assets Control (OFAC) compliance programs.

This role provides strategic leadership and oversight of the Bank’s financial crimes compliance framework, ensuring adherence to all applicable regulatory requirements. The AML/CFT Officer is accountable for regulatory reporting, risk assessments, transaction monitoring, customer due diligence programs, and the ongoing enhancement of systems and controls.

The role includes direct management of the BSA/AML team and serves as the primary liaison with regulators, law enforcement, senior management, and the Board of Directors. The AML/CFT Officer reports to the Chief Risk Officer and provides regular reporting to the Board or designated committees.

Key Responsibilities

Program Oversight & Governance

• Maintain overall responsibility for the Bank’s BSA/AML, CFT, OFAC, and USA PATRIOT Act compliance program


• Develop, implement, and maintain policies, procedures, and controls to ensure regulatory compliance


• Provide regular reporting to Senior Management and the Board of Directors on program effectiveness, key risks, and emerging issues


• Serve as the primary point of contact for regulators, auditors, and law enforcement


• Ensure timely remediation of regulatory and audit findings

Regulatory Reporting & Investigations

• Oversee the identification, investigation, and reporting of suspicious activity


• Ensure accurate, complete, and timely filing of:


• Suspicious Activity Reports (SARs)


• Currency Transaction Reports (CTRs)


• FinCEN 314(a) requests and related reporting


• Review and approve complex or high-risk investigations and regulatory filings


• Ensure appropriate escalation protocols are followed

Transaction Monitoring & Systems Oversight

• Provide governance over transaction monitoring and case management systems


• Ensure monitoring scenarios, thresholds, and parameters are appropriately designed and effectively calibrated


• Oversee system enhancements, tuning, and optimization initiatives


• Manage key vendor relationships (e.g., FIS E-Funds, LexisNexis)

Customer Due Diligence (CDD) & Enhanced Due Diligence (EDD)

• Ensure the effective implementation of CDD, beneficial ownership, and ongoing monitoring programs


• Oversee risk rating methodologies and high-risk customer identification


• Approve Enhanced Due Diligence (EDD) reviews, including high-risk customer segments such as:
  
  
  
  • Money Services Businesses (MSBs)
  
  
  • Third-Party Payment Processors
  
  
  • Private ATM Operators
  
  


• Ensure ongoing monitoring and documentation standards are maintained

Quality Assurance & Risk Management

• Oversee quality control and quality assurance programs across BSA operations


• Ensure accuracy and completeness of:
  
  
  
  • SARs and CTRs
  
  
  • CIP/CDD documentation
  
  
  • Alert and case reviews
  
  
  • OFAC and watch list monitoring
  
  


• Conduct and oversee periodic AML/OFAC risk assessments


• Monitor program effectiveness through metrics, reporting, and testing

Training & Awareness

• Ensure the development and delivery of comprehensive BSA/AML and OFAC training programs


• Provide periodic training to employees, management, and the Board of Directors


• Maintain training curriculum aligned with regulatory expectations

Examinations, Audits & Regulatory Engagement

• Lead all BSA/AML and OFAC examinations and independent audits


• Coordinate responses and provide documentation to examiners and auditors


• Ensure timely and effective resolution of findings


• Maintain examination readiness at all times

Enterprise Collaboration & Advisory

• Serve as the enterprise-wide subject matter expert on BSA/AML/CFT and OFAC matters


• Provide guidance to business lines on compliance risks and controls


• Ensure effective escalation and resolution of compliance issues


• Support Enterprise Risk Management initiatives as needed

Leadership & Staff Management

• Provide leadership, direction, and oversight to the BSA/AML team


• Establish performance standards and ensure appropriate staffing and training


• Promote a strong culture of compliance across the organization

Supervisory Responsibilities

• Number of employees supervised: 2


• Title(s) of employees supervised: Sr. AML/CFT Analyst, AML/CFT Analyst

Starting annual salary for a Vice President, AML/CFT Officer is $93,000 to $117,000, aligned to relevant experience, skills, and internal equity. Final offers consider job-related experience, specialized skills, and internal equity and are not based on salary history.

Experience

• A bachelor's degree and a minimum of 7 years’ experience in BSA/AML, 5 years’ experience in Security and Fraud or equivalent combination of education and experience.


• Applied knowledge and understanding of BSA/AML, USA PATRIOT ACT, OFAC, SAR and CTR requirements and processes.


• Experience with third party payment processing including EDD, monitoring, and reporting.


• Computing proficiency including PC operation, various banking software packages and the MS Office suite (Word, Excel, Outlook).


• Proven management skills and experience managing a team of BSA staff.


• Strong time management, analytical, communication, organizational skills and the ability to work independently.


• Experience with Verafin fraud detection and AML software preferred.


• CAMS Certification preferred.

Specific Skills Required

• Must be proficient in Microsoft Word, Excel, Outlook, and PowerPoint. Must also be proficient in technology that the Bank uses to execute their specific duties and responsibilities.


• Must have a general knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, and agency rules. Including but not limited to, The Bank Secrecy Act and the USA Patriot Act


• Must be able to perform a moderate level of mathematic calculations to support investigative analysis and reporting.


• Must be able to write reports, business correspondence, and procedure manuals.


• Must be able to effectively present information and respond to questions from groups of managers, regulators, auditors, clients, customers, and the general public.


• Must be able to apply critical thinking in the application of policies, regulations, and laws.

The Village Bank is an Equal Opportunity Employer. The Village Bank is committed to the policy of providing equal employment opportunities for employment, training, compensation, transfer, promotion, and other aspects of employment for all qualified applicants and employees without regard to sex, race, creed, color, religion, national origin, age, sexual orientation, gender identity or expression, veteran status, physical or mental disabilities, genetics or any other status protected by law.