BANK IOWA
BSA Manager
BANK IOWA, West Des Moines, IA
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.
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.
Requirements
Skills/Experience You'll Need
What you'll love about us
Our team members love working here, and the prevailing reason is this: our people. In addition to the great team you will be a part of, here are some of the other reasons why our team members love working here:
Our People-Centered Culture
At Bank Iowa our purpose is to Empower People, Inspire Success and Foster Growth. Bank Iowa is one of the leading independent Ag banks and the second-largest family-owned bank in the state of Iowa. Our bank family consists of team members and clients throughout Iowa who we serve in our 22 communities.
At Bank Iowa, we're proud to put people first, and we value our team members as much as our clients. We support team member development by focusing on their innate talents and developing those into areas of strength. We offer an environment where people care about each other like family. If you're looking for a career with colleagues who have the opportunity to bring their best, think big, and enable great things, Bank Iowa is the place for you
Bank Iowa is an equal opportunity employer with a passion for creating an inclusive environment where all people are truly welcomed, valued and respected - for all of who they are - regardless of differences. All applicants will be considered for employment without regard to age, race, color, sex, pregnancy, sexual orientation, gender identity, military service, national origin, religion, physical or mental disability, genetic information, or any other classifications protected by applicable federal, state or local laws.
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.
Requirements
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 retails 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.
What you'll love about us
Our team members love working here, and the prevailing reason is this: our people. In addition to the great team you will be a part of, here are some of the other reasons why our team members love working here:
- A competitive financial package we want you to bring your best so in addition to your compensation, every team member receives a bonus opportunity, a generous 401k match, and discretionary profit sharing.
- Robust benefits and wellness - we are proud to offer health, dental and vision insurance as well as a wellness program designed to help drive down your premiums for benefits-eligible team members. Our wellness initiatives promote positive change and allow our team members to think big.
- Blending work and life - As a people-centered organization, each team member is provided a generous PTO bank. Bank Iowa team members receive 11 paid observed holidays, 100% paid parental leave, an opportunity for sabbatical leave, generous bereavement, and an employee assistance program designed to support team members throughout various stages in their lives.
- Continued learning opportunities - Bank Iowa enables great things and supports team member development at every stage of your career. Our development approach focuses on your innate talents and developing those into areas of strengths. Learning experiences are available in formal & informal training settings, as well as, on-the-job training. Development programs are available in-person and online. Our tuition reimbursement program is available to support formal education programs.
- Community Involvement - Our team members are active members of their communities and people-centered. Bank Iowa aspires to be a center of influence in each of the 22 communities we are located in. In addition to company-sponsored volunteer opportunities, we offer paid volunteer time off (VTO), which allows team members to give their time to organizations they care about, without having to use PTO.
- Recognition - Bank Iowa is proud of our team members who "Live our Values". Our peer nominated recognition program presented annually, recognizes and celebrates team members who exemplified our values from the past year.
Our People-Centered Culture
At Bank Iowa our purpose is to Empower People, Inspire Success and Foster Growth. Bank Iowa is one of the leading independent Ag banks and the second-largest family-owned bank in the state of Iowa. Our bank family consists of team members and clients throughout Iowa who we serve in our 22 communities.
At Bank Iowa, we're proud to put people first, and we value our team members as much as our clients. We support team member development by focusing on their innate talents and developing those into areas of strength. We offer an environment where people care about each other like family. If you're looking for a career with colleagues who have the opportunity to bring their best, think big, and enable great things, Bank Iowa is the place for you
Bank Iowa is an equal opportunity employer with a passion for creating an inclusive environment where all people are truly welcomed, valued and respected - for all of who they are - regardless of differences. All applicants will be considered for employment without regard to age, race, color, sex, pregnancy, sexual orientation, gender identity, military service, national origin, religion, physical or mental disability, genetic information, or any other classifications protected by applicable federal, state or local laws.