Bank Secrecy Act Officer

SUMMARY

The Bank Secrecy Act Officer (BSAO) is responsible for developing, implementing, and administering all aspects of a Bank Secrecy Act (BSA) Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) compliance risk management program appropriate for the size and complexity of the Bank. The BSAO provides direction to, and has oversight of, the program that documents how risks are identified, measured, monitored, and reported to the Enterprise Compliance Committee as well as senior management. The BSAO provides thought leadership in elevating the Bank's BSA Program and associated opportunities and risks, and effectively communicates recommendations to the appropriate Management and Board Committees. Additionally, the role is responsible for executing on the approved strategy and program through active management of all areas of the department.

MAJOR DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS)

• Serving as subject matter expert on all BSA/AML/OFAC and ID theft issues
• Coordinate, monitor, and oversee compliance with state and federal Bank Secrecy Act (BSA), USA Patriot Act, Anti-Money Laundering (AML), and OFAC laws and regulations for an effective BSA/AML/OFAC Compliance Program.
• Managing anti-money laundering compliance by proactively identifying and addressing the BSA/AML/OFAC and fraud risks associated with the financial services the Bank offers and for educating the broader team on how such risks evolve at different levels.
• Monitor investigation of all unusual or suspicious activity identified by the monitoring software or referred by other departments. Ensure a thorough investigation is completed and documented, if appropriate, and file a Suspicious Activity Report (SAR) or sufficiently document rationale for not filing the SAR.
• Manages and performs various quality control reviews and/or risk assessments in BSA/AML/OFAC and Fraud at least annually regarding the Bank's products, services, customers, and geographies that may present BSA/AML/OFAC and Fraud related risks.
• Responsible for ensuring all required regulatory reporting is conducted in a timely, accurate, and compliant manner, (e.g., filing of Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) to Fin CEN, as well as FinCEN 314(a) and 314(b) procedures and reporting.), consistent with internal and regulatory timelines.
• Act as liaison/contact for Federal and State examinations, internal and external independent reviews, and audits of the BSA/AML/OFAC compliance programs.
• Participate in providing responses to exam and audit concerns. Oversee corrective action of all related deficiencies or violations within committed timelines.
• Monitor changes in laws, regulations, and trends. Update internal stakeholders and respective BSA/AML/OFAC policies and procedures, as needed.
• Advise the Bank's board of directors and senior management of emerging compliance issues and consult and guide the Bank in the establishment of controls to mitigate risk.
• Supervises assigned staff. Ensures competent and motivated staff through hiring, training, counseling, and performance evaluations.
• Organizes the work and activities of the BSA group to achieve established goals; monitors the efficiency and performance of the group versus established standards.

• Managing and developing your team members' skills and technical expertise to meet oncoming risks and business changes.
• Respond to BSA related questions, issues, and concerns from all department managers, bank officers, and employees.
• Assists in the development and implementation of the BSA training program.
• Prepares/performs annual Board of Directors BSA/AML and OFAC training.
• Prepares and reports developments on significant BSA matters to the Enterprise Compliance Committee and leads BSA team meetings as appropriate.
• Champions a corporate culture in which all personnel view regulatory compliance as aligned with the Company's purpose and values and is regarded as a key objective in business decisions and process development/implementation.
• Establishes effective, collaborative relationships with department heads and process owners so that all personnel are informed regarding compliance requirements and work together to mitigate risk exposure and participate in corrective action when required.
• Plays a key role in the risk/reward decision-making process within various Councils and Committees
• Contributes to the Company's Risk Appetite Statement to ensure appropriate consideration of compliance issues and risks.

ADDITIONAL DUTIES AND RESPONSIBILITIES

• Adherence to all First United Policies and Procedures.
• Performs other related duties as required and assigned.

EMPLOYEE SPECIFICATIONS

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

EDUCATION AND WORK EXPERIENCE

• Bachelor's degree required.
• Certified Anti-Money Laundering Specialist (ACAMS)
• Minimum of Seven (7) years of prior financial institution BSA relevant experience in developing and implementing BSA/AML/CIP/OFAC policies, programs, and procedures.
• Extensive knowledge of Bank Secrecy Act/Anti Money Laundering/U.S. Patriot Act, OFAC Regulations.
• General knowledge and understanding of bank deposit operations, lending activities, and other related banking and compliance functions.
• Management/Leadership experience related to BSA compliance processes and activities common to multi-state, privately held (and/or publicly traded) banking organizations.
• Experience in managing federal regulatory compliance examinations.
• General knowledge and understanding of bank deposit operations, lending activities, and other related banking and compliance functions.

TECHNICAL/FUNCTIONAL COMPETENCIES

• Strong understanding of processes, risk management and activities common to a multi-state community bank.
• Ability to build effective relationships with a proven record of building trust and credibility through strong interpersonal skills, communications, and actions.
• Ability to negotiate effectively using diplomacy and tact to resolve difficult issues while maintaining a high degree of professionalism.
• Strong influence skills working both internally and externally at senior and executive levels.
• Dedication to integrity, producing high quality results, and meeting deadlines.
• Excellent leadership skills demonstrated by ownership of issues through their resolution while providing sound guidance to others.
• Outstanding communication skills, both oral and written, and the ability to communicate clearly with constituents at all levels of the organization.
• Demonstrated decision-making capability under stressful situations while dealing with complex issues involving competing interests.
• Excellent written verbal, interpersonal, and analytical skills; excellent project and time management skills; strong computer skills including working knowledge of Word, Excel, and Internet applications; familiarity with BSA/AML software.
• Must be able to assist in the preparation of documentation in
  response to inquiries from law enforcement, regulatory agencies, courts, and outside consultants.

NOTE: This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned by supervisor to meet the ongoing needs of the organization.

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If any applicant is unable to complete an application or respond to a job opening because of a disability, please email us at HR@firstunitedbank.com for assistance.