Compliance/Risk Management & Bank Secrecy Act Officer

Transcription

1 Compliance/Risk Management & Bank Secrecy Act Officer Job Reporting Relationships Supervised by: Supervises: Chief Operating Officer None Basic Qualifications Education/Training: A Bachelor s degree in a related field normally required; specialized compliance education/training; Bank Secrecy Act training. Skill(s): Proficient reading, writing, grammar, and mathematics skills; proficient interpersonal relations and communicative skills; proficient computer skills; proficient analytical skills; thorough knowledge of banking regulations including Bank Secrecy Act, CRA, and other related regulations; thorough knowledge of bank operating policies and procedures relating to BSA compliance; knowledge of bank products and services and applicable state and federal regulations; visual and auditory skills. Experience: A minimum of five (5) years related experience in compliance/audit positions normally required. General Responsibilities Responsible for maintaining adequate and effective compliance programs including Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Program and assuring that the Bank conducts its operations in compliance with BSA/AML, USA Patriot Act, OFAC, Customer Identification and other bank regulations; coordinating work within the department, as well as with other departments; responding to inquiries or requests for information; providing periodic reports. Compliance/Risk Management & Bank Secrecy Act Officer Page 1 of 5

2 Essential Duties 1. Maintains an adequate and effective Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Program and assures that the Bank conducts its operations in compliance with BSA/AML, USA Patriot Act, OFAC, and Customer Identification regulations as illustrated by the following: a. Develops a strong working knowledge of the requirements of the Bank Secrecy Act and related regulations. b. Stays current with changes regarding BSA/AML, OFAC, PATRIOT Act, and Customer Identification; determines effect of such laws and regulations on Bank policies, procedures and practices and recommends/ implements changes. c. Communicates changes in requirements and procedures to appropriate Bank personnel. d. Provides and/or oversees BSA/AML training to Bank staff to ensure continued compliance with all regulatory and legal requirements. e. Develops and maintains written policies and procedures necessary to ensure the Bank s compliance with BSA/AML regulations; periodically reviews the BSA/AML policy to ensure the content is current. f. Implements a system of internal controls for compliance with BSA/AML, including suspicious activity reporting, throughout the Bank s functional areas and across product and service offerings. g. Performs daily monitoring to identify suspicious activities or BSA violations. h. Completes and files SARs (Suspicious Activity Reports) with FinCen and reports to the Board of Directors. i. Identifies, develops, and maintains a list of products, services, customers, and geographies for high-risk money laundering; periodically reviews and updates accordingly. j. Completes review of all new customer portfolios/accounts to ensure all CIP information and documentation has been obtained; continually communicates with branch and lending personnel to assure that missing items are received. k. Oversees and monitors procedures regarding large currency transaction reporting, including reviewing currency transaction reports (CTRs), following up on missing information, and filing the CTR. Compliance/Risk Management & Bank Secrecy Act Officer Page 2 of 5

3 l. Utilizes Verafin and performs ongoing maintenance and upgrades to the system. m. Serves as liaison for all outside audits/exams for BSA/AML compliance. n. Monitors the results of internal or external audits/exams and ensures clearing of any findings discovered during these audits in a timely manner; ensures corrective action is effectively implemented. o. Attends annual training events to keep informed of regulatory changes. 2. Assists the Chief Operating Officer in managing the Bank s risk elements pertaining to compliance, disaster recovery/business continuity, reputation, and security risks by performing various duties of which the following are illustrative: a. Assists in overseeing the Bank s information security program; manages response to a variety of threats, i.e. unauthorized access, disclosure, duplication, modification, diversion, destruction, loss, misuse, or theft; maintains policies and procedures relating to information security. b. Assists in overseeing the Bank s Disaster Recovery/Business Continuity Plan, working with operational management to keep the plan current and tested periodically to minimize the impact of adverse events on the organization, employees, customers, and the community. c. Assists in overseeing regulatory compliance through the implementation of a compliance program including regular compliance reviews and audits; reports findings. d. Assists in overseeing the internal audit function, the arrangement with the external auditors, bank examiners, and other vendors used to conduct audits in specialized areas. 3. Performs a variety of duties to support the Bank s compliance and audit functions of which the following are illustrative: a. Conducts research for compliance, fraud, BSA, suspicious activity monitoring, CTR, and other operational issues; compiles and submits required documentation. b. Maintains Disaster Recovery Plan, policies, and documents as required; presents to Board for approval. Compliance/Risk Management & Bank Secrecy Act Officer Page 3 of 5

4 c. Participates in compliance reviews; reviews Customer Information Profiles; monitors high risk accounts for activity; reviews exempt account activity; monitors and reviews currency transaction reports and monetary instrument forms; maintains complete and accurate records of reviews. d. Participates in the development and introduction of new products and services to ensure compliance with regulatory guidelines, as required. e. Reviews monthly branch audits; prepares detailed reports and audit findings as needed. f. Assists with routine investigations of customer disputes when they cannot be resolved at branch or department level. g. Identifies and reports discrepancies between actual practice, documented process, and required regulatory procedures. h. Reviews printed and online publications regularly for updated information on bank compliance. i. Coordinates the escheat process. j. Performs BSA and OFAC risk assessments. k. Performs FINCEN OFAC reporting. l. Verifies core and Internet rate changes. 4. Maintains a thorough knowledge of the features and benefits of all Bank products and services in order to ascertain customer needs and to sell in conjunction with these needs. 5. Coordinates specific work tasks with other personnel within the department as well as with other departments in order to ensure the smooth and efficient flow of information. 6. Abides by the current laws and organizational policies and procedures designed and implemented to promote an environment which is free of harassment and other forms of illegal discriminatory behavior in the work place. 7. Cooperates with, participates in, and supports the adherence to all internal policies, procedures, and practices in support of risk management and overall safety and soundness and the Bank's compliance with all regulatory requirements, e.g. Community Reinvestment Act (CRA), Bank Secrecy Act Compliance/Risk Management & Bank Secrecy Act Officer Page 4 of 5

5 (BSA), Equal Credit Opportunity Act, etc. 8. Reports pertinent information to the immediate supervisor as requested, or according to an established schedule; compiles information as necessary or as directed and provides data to appropriate Bank personnel. 9. Responds to inquiries relating to his/her particular area, or to requests from customers, other Bank personnel, etc., within given time frames and within established policy. Ancillary Duties 1. Contributes to the team by willingly participating in all assigned duties and responsibilities, as well as additional tasks which may be requested. Job Location Second floor, Fleetwood office Equipment/Machines 1. Telephone 2. Calculator 3. Typewriter 4. PC 5. Printer 6. Fax machine 7. Copy machine Compliance/Risk Management & Bank Secrecy Act Officer Page 5 of 5