BSA / AML Specialist
River Bank & Trust
- Auburn, AL
- Permanent
- Full-time
The BSA/AML Specialist position is responsible for ensuring compliance with the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) policies and procedures and the applicable federal regulations to protect the company from being used as a conduit for illegal and/or fraudulent activity. The BSA/AML program includes Currency Transaction Reports (CTRs), Office of Foreign Asset Control (OFAC), Suspicious Activity Reports (SARs), Customer Due Diligence (CDD), and Customer Identification Program (CIP) and other fraud monitoring reports/alerts.Essential Duties and Responsibilities:
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The essential functions may include, but are not limited to the following:
- Review cash reports and prepare Currency Transaction Reports (CTRs) ensuring the accuracy of the information reported
- Assist with the alert workload and the monitoring for suspicious patterns/activity, conduct suspicious activity report investigations, as well as high risk customer/account reviews, and recommend when to file a Suspicious Activity Reports (SARs).
- Conduct enhanced due diligence reviews which entails research, the gathering of documents, composing a well written narrative, making appropriate recommendations, and assigning appropriate risk factors.
- Perform 90-day SAR follow up reviews when assigned; recommending whether continuing activity SAR should be completed.
- Ensure proper identification and adherence to the Bank's BSA Program including, but not limited to; CIP, CDD/EDD/BO, OFAC and record keeping and retention requirements.
- Ensure high risk files remain current, accurate, and well-documented.
- Participate in ongoing training to maintain current knowledge of current fraud trends, BSA/AML and OFAC regulatory requirements.
- Assist in the compliance of 314(a) and 314(b) responsibilities.
- Monitor potential OFAC matches and take appropriate action to escalate them when necessary.
- Other duties may be assigned by the BSA Officer.
- Complies with federal and state regulations and all established bank policies and procedures.
- High School diploma or equivalent
- 1-2 years BSA/AML and/or bank operations experience preferred
- Stay familiar with and follow policy and procedures.
- Support Management's decisions and goals in a positive, professional manner.
- Stay abreast of regulatory requirements and complete annual compliance training applicable to the position.
- Must have excellent analysis, observation, and decision-making skills.
- Attend work on a regular basis, on time, and withstand varying degrees of stress.
- High degree of accuracy.
- Strong organization skills; able to manage priorities and workflow.
- Ability to work independently and as a team member.
- Assuring customer service is top priority whether internally or externally; treating customers and employees professionally, with courtesy and respect.
- Integrity, discretion, and respect for confidential information are absolutely essential.
- Willingness to adapt to change.
- Work within a variety of different software and web applications.
- Excellent interpersonal and communication skills.
- Maintaining a professional, business-like appearance and demeanor.
- Proficiency in Microsoft Office products to include: Word, Excel, and Outlook.