Purpose:
- The Assistant BSA Officer is responsible for the day-to-day BSA monitoring in accordance with the Bank’s BSA/AML/CFT/OFAC Program and BSA Regulatory Requirements by helping to ensure compliance with all applicable and relevant federal, state and local banking and industry-related laws and regulations.
- The incumbent is responsible for reporting to the BSA Officer regularly regarding all high-risk types of activities, accounts, products and services; areas of concern; and customers with unusual or suspicious activity; and is to support all findings with documented facts, reports, and/or files.
Summary of Essential Duties and Responsibilities:
- Create and analyze reports in the various systems to assist in the identification of suspicious activity.
- Review alerts generated by FCRM as needed during peak season; perform due diligence, identify suspicious activity, document and close the alerts within regulatory timeframes.
- Conduct investigations and research using internal and external tools, draw conclusions, document findings, and prepare SARs when necessary.
- Maintain electronic files in shared department folder of all reviews, investigations, reports, and reviews, along with supporting documentation.
- Investigate escalated or referred cases and previous SARs for any new or continuing suspicious activity and prepare SAR report for filing within regulatory time frames.
- Maintain and verify the accuracy of various department logs and perform reviews to ensure that all required reports are filed within the required time frame.
- Conduct quarterly reviews of Monetary Instruments Cash Sales Log obtained from the Branches to determine any unusual or potentially suspicious transaction(s).
- Perform OFAC and FinCEN 314(a) searches as required and report matches to the BSA Officer. Support all OFAC procedures pertaining to true matches, ensure funds are appropriately blocked, and prepare draft of the Annual Blocked Funds Report for filing with OFAC.
- Assist auditors and regulatory examiners during BSA/AML audits when needed.
- Test the OFAC filtering application’s “Fuzzy Logic” sensitivity semi-annually and recommend adjustments to the sensitivity score as needed.
- Conduct detailed reconcilements of the account monitoring system (AML Manager) to the core system. Submit reconcilement report, along with any unresolved discrepancies, to the BSA Officer.
- Perform monthly validation of OFAC updates.
- Perform quarterly Wire reviews as scheduled and needed by the BSA Program. Escalate unusual or potentially suspicious activity to an investigation and inform the BSA Officer.
- Prepare and/or maintain the various procedures for the BSA/AML/CFT/OFAC program, documenting any changes in the requirements and any new systems. Keep current with any regulatory changes and news impacting the program.
- Maintain the appropriate record retention for the BSA Department.
- Attend the internal Annual BSA/AML/CFT/OFAC Trainings and at least one external seminar related to the topic. Maintain a high degree of professional competence through self-study, seminars, and professional organizations.
- Maintain good channels of communication with the various departments to identify any new products or changes in systems or procedures that may impact the BSA day-to-day work.
- Serve as the back-up to the BSA Officer.
Supervision:
- The Assistant BSA Officer reports directly to the Chief Compliance Officer/BSA Officer.
DESIRED SKILLS AND MINIMUM REQUIREMENTS
Education/Experience/Knowledge & Training:
- University Degree in Business, Finance, or related field and/or Professional Association Banking Certificate highly desired.
- AML Specialist Certification (e.g., ACAMS, FIBA) preferred.
- Minimum of 8 years in Banking, and at least 5 years working directly in a BSA/AML department with thorough knowledge of BSA/AML and OFAC policies and procedures.
- Experience with the following: Account transactions monitoring and automated monitoring systems, KYC documentation, CIP and Risk Assessments, CDD and EDD investigations, CTR requirements and E-filing, OFAC and 314(a) searches and compliance, SAR preparation and documentation.
- Computer literacy and intermediate proficiency in Microsoft Office suite, Pivot Tables, Excel spreadsheet, and strong Internet skills.
- Experience in performing and documenting lookbacks and annual High-Risk Reviews, knowledge of High-Risk jurisdictions and sanctioned countries, identifying suspicious activity, and initiating and documenting investigations, subpoenas, and law enforcement requests.
- Experience with BSA Audits and Regulatory Examinations, including requests, findings, and the implementation of corrective measures.
Analytical Ability/Creativity & Other Skills:
- Ability to resolve problems quickly, meet deadlines, and work independently with little supervision, often under pressure in a fast-paced environment.
- Ability to research, analyze raw data and transactions, make sound judgments, and draw conclusions regarding cases or investigations.
- Maintain extreme discretion and confidentiality with customer information, investigative findings, and Suspicious Activity Reports.
- Excellent organizational skills and attention to detail.
- Ability to make recommendations to make processes more efficient.
- Fluent English speaking and grammatically correct writing skills.
- Communicates effectively with peers, front line staff, and management with persistence and a positive attitude.
- Ability to show up for work on time with minimal absenteeism and willingness to work over 40 hours a week when necessary.
- Demonstrates effective of interpersonal skills and collaborative team spirit in line with the four Desjardins behaviors: Simple, Modern, Human, and Performing.
PHYSICAL & OTHER REQUIREMENTS:
- The requirements described below are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.
- Ability to sit for lengthy periods and ability to visually focus on data, reports, and analysis both printed and on computer screens for extended periods. Must be able to manage double computer monitor/screen, as well as share tight office space with teammates.
- Requires hand, finger, and wrist dexterity to perform data entry and related computer skills, and speech ability to communicate clearly in person and over the telephone.
- The work occurs in an air-conditioned shared office setting with fluorescent lighting and low-to-medium ambient noise level.
DESJARDINS BANK, N.A. is an equal opportunity employer and participates in the E-Verify program. Per Florida law, we verify the employment eligibility of all new hires using the U.S. Department of Homeland Security's E-Verify system.
Job Type: Full-time
Pay: $85,000.00 - $95,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Health insurance
- Life insurance
- Parental leave
- Tuition reimbursement
- Vision insurance
Experience:
- BSA-related: 8 years (Required)
Language:
Ability to Commute:
- Hallandale Beach, FL 33009 (Required)
Work Location: Hybrid remote in Hallandale Beach, FL 33009
