Bank Iowa
BSA Manager
Bank Iowa, West Des Moines, Iowa, United States, 50265
What You’ll Be Doing
The BSA Manager is responsible for supporting the development, implementation, and administration of all aspects of the corporate-wide Bank Secrecy Act (BSA) and OFAC Compliance Program. This position monitors compliance with state and federal laws and regulations including all elements of the Bank Secrecy Act, OFAC, and all associated regulations. Must independently recognize, develop, and implement effective compliance solutions for the bank’s BSA program. Serves as primary administrator for the bank’s BSA monitoring systems and manages day-to-day functions and escalated matters from BSA Analysts.
Coaches and supports the BSA team.
Works with the Compliance & Risk Director to coordinate and oversee an effective Bank Secrecy Act and OFAC compliance program that follows current industry best practices, regulatory guidance and requirements. Helps determine strategic direction of the department by leveraging technology.
Develops, implements, administers and enhances BSA monitoring systems to ensure that appropriate parameters are in place to identify suspicious activity. Ensures proper reporting and retention of reporting as required by regulation. Serves as subject matter expert in all systems related to BSA activities.
Oversees and maintains an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments and reviews along with analyzing unusual account activity.
Oversees and maintains appropriate SAR investigations, reviews, and reporting that promotes consistent decisions, adequate investigation and research, and detailed SAR reporting.
Oversees and maintains CTR identification and reporting. Ensures system reports and alerts are reviewed to ensure required CTRs are filed timely along with being adequately retained. Oversees an efficient CTR exemption process.
Oversees and maintains an effective CIP and Beneficial Ownership program to ensure all individuals and entities are adequately identified and the necessary checks completed along with proper retention of documentation.
Ensures monetary instruments and wires are handled appropriately with proper logging and retention.
Oversees and maintains proper handling of watch list alerts and logging of activity when required.
Prepares and maintains BSA-related risk assessments to incorporate changes to products, services, customer base, and geographies that may present BSA risk.
Prepares and maintains BSA policies and procedures and works with other departments to ensure BSA requirements are incorporated into processes throughout the organization.
Administers BSA & OFAC training programs for directors, management, employees and the BSA Analyst team. Ensures consistent BSA guidance to employees by the BSA Analyst team.
Monitors and analyzes changes to BSA and OFAC-related laws and regulations. Collaborate with Compliance-Risk Director to identify emerging risks and recommend controls to mitigate risk.
Ensures an effective control environment and prioritizes focus towards areas identified as having the highest level of BSA risk to the bank.
Conducts quality control reviews of BSA processes and the BSA monitoring program to ensure consistency and accuracy.
This is a full-time position and typical work hours and days are Monday through Friday 8:00 AM to 5:00 PM. An internal candidate located in one of our branch locations may be considered.
Skills/Experience You’ll Need
Bachelor's Degree or equivalent educational/work experience
At least 7 years’ experience working directly with BSA & OFAC regulations
Prior experience using a BSA/AML monitoring system, preferably Verafin.
Strong leadership skills and experienced leading a team.
Ideal candidates will have strong knowledge of bank administration, lending, operations and retail services; be detail-oriented and knowledgeable of BSA & OFAC regulations; be self-motivated with the ability to manage time and adhere to strict deadlines; have strong analytical and problem-solving skills and have experience with financial institution software systems as well as Microsoft Office applications.
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The BSA Manager is responsible for supporting the development, implementation, and administration of all aspects of the corporate-wide Bank Secrecy Act (BSA) and OFAC Compliance Program. This position monitors compliance with state and federal laws and regulations including all elements of the Bank Secrecy Act, OFAC, and all associated regulations. Must independently recognize, develop, and implement effective compliance solutions for the bank’s BSA program. Serves as primary administrator for the bank’s BSA monitoring systems and manages day-to-day functions and escalated matters from BSA Analysts.
Coaches and supports the BSA team.
Works with the Compliance & Risk Director to coordinate and oversee an effective Bank Secrecy Act and OFAC compliance program that follows current industry best practices, regulatory guidance and requirements. Helps determine strategic direction of the department by leveraging technology.
Develops, implements, administers and enhances BSA monitoring systems to ensure that appropriate parameters are in place to identify suspicious activity. Ensures proper reporting and retention of reporting as required by regulation. Serves as subject matter expert in all systems related to BSA activities.
Oversees and maintains an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments and reviews along with analyzing unusual account activity.
Oversees and maintains appropriate SAR investigations, reviews, and reporting that promotes consistent decisions, adequate investigation and research, and detailed SAR reporting.
Oversees and maintains CTR identification and reporting. Ensures system reports and alerts are reviewed to ensure required CTRs are filed timely along with being adequately retained. Oversees an efficient CTR exemption process.
Oversees and maintains an effective CIP and Beneficial Ownership program to ensure all individuals and entities are adequately identified and the necessary checks completed along with proper retention of documentation.
Ensures monetary instruments and wires are handled appropriately with proper logging and retention.
Oversees and maintains proper handling of watch list alerts and logging of activity when required.
Prepares and maintains BSA-related risk assessments to incorporate changes to products, services, customer base, and geographies that may present BSA risk.
Prepares and maintains BSA policies and procedures and works with other departments to ensure BSA requirements are incorporated into processes throughout the organization.
Administers BSA & OFAC training programs for directors, management, employees and the BSA Analyst team. Ensures consistent BSA guidance to employees by the BSA Analyst team.
Monitors and analyzes changes to BSA and OFAC-related laws and regulations. Collaborate with Compliance-Risk Director to identify emerging risks and recommend controls to mitigate risk.
Ensures an effective control environment and prioritizes focus towards areas identified as having the highest level of BSA risk to the bank.
Conducts quality control reviews of BSA processes and the BSA monitoring program to ensure consistency and accuracy.
This is a full-time position and typical work hours and days are Monday through Friday 8:00 AM to 5:00 PM. An internal candidate located in one of our branch locations may be considered.
Skills/Experience You’ll Need
Bachelor's Degree or equivalent educational/work experience
At least 7 years’ experience working directly with BSA & OFAC regulations
Prior experience using a BSA/AML monitoring system, preferably Verafin.
Strong leadership skills and experienced leading a team.
Ideal candidates will have strong knowledge of bank administration, lending, operations and retail services; be detail-oriented and knowledgeable of BSA & OFAC regulations; be self-motivated with the ability to manage time and adhere to strict deadlines; have strong analytical and problem-solving skills and have experience with financial institution software systems as well as Microsoft Office applications.
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