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Posted : Tuesday, October 03, 2023 01:32 AM
JOB SUMMARY:
We are seeking a detail-oriented and experienced professional to join our team as a Bank Secrecy Act (BSA) Officer.
In this role, you will be responsible for ensuring and oversight the organization's compliance with the Bank Secrecy Act, Anti-Money Laundering (AML) regulations, and related laws.
The BSA Officer will develop, implement, and maintain an effective BSA/AML compliance program, as well as monitor and report on suspicious activities.
The individual in this roll will be instrumental in implementing robust measures for fraud prevention.
The successful candidate will have a comprehensive understanding of financial regulations and a proven track record in detecting and preventing fraudulent activities.
CORE RESPONSIBILITIES: (NOTE: THE FOLLOWING LIST OF CORE RESPONSIBILITIES IS NOT EXHAUSTIVE, AND MAY BE SUPPLEMENTED AS NECESSARY) Develop and Implement BSA/AML Compliance Program: Ensure related BSA/AML Bank Policies are updated and current.
Conduct risk assessments and develop strategies to mitigate potential risks associated with money laundering and other illicit activities.
Spearhead the development of an integrated fraud prevention program that aligns with BSA/AML initiatives.
Monitoring and Reporting: Ensure Currency Transaction Reports are reviewed and filed timely.
Review and monitor OFAC alerts (internal alerts, BSA/AML software alerts, and 314(a) alerts).
Monitor and analyze transactions to identify and investigate suspicious activities.
Prepare and submit Suspicious Activity Reports (SARs) as required by regulatory authorities.
Verify that continuous monitoring of high-risk customers is being conducted.
Conduct and confirm that the annual filing of MLR report with OCC regulators is completed.
Prepare monthly and quarterly reports summarizing BSA/AML audits and examinations.
Fraud Detection and Investigation: Ensured proper policies, procedures, and operating controls are followed.
Maintain awareness of industry fraud trends, fraudulent activity and fraud prevention process efficiencies.
Utilize customer fraud monitoring tools and software to identify and investigate potential instances of fraud.
Collaborate with internal teams to promptly investigate and resolve suspected fraudulent activities.
Collaboration and Communication: Communicate regularly with the Compliance Officer and Senior Management regarding the status of the BSA/AML compliance program.
Collaborate with other departments to ensure a cohesive approach to compliance across the organization.
Answer BSA/AML questions from staff in a kind and courtesy manner.
Adhere to all Bank policies and procedures, and Banking Regulations and Laws.
Training and Education: Ensure and provide training to employees and Director on BSA/AML compliance policies and procedures.
Foster a culture of awareness and understanding of regulatory requirements within the organization.
Subpoena Processing: In this role, you will take charge of subpoena processing, specifically focusing on the acquisition of customer documents and records.
Your responsibilities will include the comprehensive documentation and tracking of all received subpoenas, ensuring a streamlined process that guarantees the timely and accurate delivery of requested documents and records.
This position demands a keen attention to detail, a thorough understanding of legal procedures, and effective management of the subpoena processing workflow.
Other duties as assigned.
Qualifications/Skills and Knowledge Requirements: Minimum of an Associate's degree in Finance, Business, or a related field required.
BSA/AML Certification, (desired, but not required) Minimum of 2 years of experience in BSA/AML compliance and fraud prevention within the banking or financial services industry.
Experience with Fraud monitoring software (desired, but not required) Strong understanding of the Bank Secrecy Act, USA PATRIOT Act, and fraud prevention strategies.
Exceptional analytical, problem-solving, and communication skills.
Ability to effectively utilize a computer and other standard office equipment Ability to effectively communicate orally and in writing Maintain a professional demeanor.
ADDITIONAL COMMENTS: All employees of Merchants National Ban are responsible for working toward the corporate mission and all quality goals of the organization.
Due to the nature of this position, confidentiality must be maintained at all times.
Merchants National Bank is an equal opportunity employer
In this role, you will be responsible for ensuring and oversight the organization's compliance with the Bank Secrecy Act, Anti-Money Laundering (AML) regulations, and related laws.
The BSA Officer will develop, implement, and maintain an effective BSA/AML compliance program, as well as monitor and report on suspicious activities.
The individual in this roll will be instrumental in implementing robust measures for fraud prevention.
The successful candidate will have a comprehensive understanding of financial regulations and a proven track record in detecting and preventing fraudulent activities.
CORE RESPONSIBILITIES: (NOTE: THE FOLLOWING LIST OF CORE RESPONSIBILITIES IS NOT EXHAUSTIVE, AND MAY BE SUPPLEMENTED AS NECESSARY) Develop and Implement BSA/AML Compliance Program: Ensure related BSA/AML Bank Policies are updated and current.
Conduct risk assessments and develop strategies to mitigate potential risks associated with money laundering and other illicit activities.
Spearhead the development of an integrated fraud prevention program that aligns with BSA/AML initiatives.
Monitoring and Reporting: Ensure Currency Transaction Reports are reviewed and filed timely.
Review and monitor OFAC alerts (internal alerts, BSA/AML software alerts, and 314(a) alerts).
Monitor and analyze transactions to identify and investigate suspicious activities.
Prepare and submit Suspicious Activity Reports (SARs) as required by regulatory authorities.
Verify that continuous monitoring of high-risk customers is being conducted.
Conduct and confirm that the annual filing of MLR report with OCC regulators is completed.
Prepare monthly and quarterly reports summarizing BSA/AML audits and examinations.
Fraud Detection and Investigation: Ensured proper policies, procedures, and operating controls are followed.
Maintain awareness of industry fraud trends, fraudulent activity and fraud prevention process efficiencies.
Utilize customer fraud monitoring tools and software to identify and investigate potential instances of fraud.
Collaborate with internal teams to promptly investigate and resolve suspected fraudulent activities.
Collaboration and Communication: Communicate regularly with the Compliance Officer and Senior Management regarding the status of the BSA/AML compliance program.
Collaborate with other departments to ensure a cohesive approach to compliance across the organization.
Answer BSA/AML questions from staff in a kind and courtesy manner.
Adhere to all Bank policies and procedures, and Banking Regulations and Laws.
Training and Education: Ensure and provide training to employees and Director on BSA/AML compliance policies and procedures.
Foster a culture of awareness and understanding of regulatory requirements within the organization.
Subpoena Processing: In this role, you will take charge of subpoena processing, specifically focusing on the acquisition of customer documents and records.
Your responsibilities will include the comprehensive documentation and tracking of all received subpoenas, ensuring a streamlined process that guarantees the timely and accurate delivery of requested documents and records.
This position demands a keen attention to detail, a thorough understanding of legal procedures, and effective management of the subpoena processing workflow.
Other duties as assigned.
Qualifications/Skills and Knowledge Requirements: Minimum of an Associate's degree in Finance, Business, or a related field required.
BSA/AML Certification, (desired, but not required) Minimum of 2 years of experience in BSA/AML compliance and fraud prevention within the banking or financial services industry.
Experience with Fraud monitoring software (desired, but not required) Strong understanding of the Bank Secrecy Act, USA PATRIOT Act, and fraud prevention strategies.
Exceptional analytical, problem-solving, and communication skills.
Ability to effectively utilize a computer and other standard office equipment Ability to effectively communicate orally and in writing Maintain a professional demeanor.
ADDITIONAL COMMENTS: All employees of Merchants National Ban are responsible for working toward the corporate mission and all quality goals of the organization.
Due to the nature of this position, confidentiality must be maintained at all times.
Merchants National Bank is an equal opportunity employer
• Phone : NA
• Location : Hillsboro, OH
• Post ID: 9075577192
