Institution : Bank ($12BN+ AUM)

Role : BSA Officer

Reporting to : Chief Compliance Officer

Location : Los Angeles, CA

Salary : $200,000 - $275,000 (+bonus)

Role : Reporting to the Chief Compliance Officer, this individual will manage the Bank’s BSA program. This person is responsible for managing all aspects of the Bank’s Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) Compliance Program including coordinating and monitoring day-to-day BSA / AML Compliance. The BSA / AML Compliance Officer is charged with developing and maintaining a program that addresses all relevant statues, regulations and regulatory guidance including the BSA and AML acts, as amended, 31 CFR Chapter X, Office of Foreign Asset Control (OFAC) requirements, and the FFIEC BSA / AML Examination Manual.

The BSA Officer is responsible for directing the BSA Department Staff in detecting unusual, suspicious or high-risk activities in a timely manner and to safeguard the integrity of the Bank and will ensure the Bank’s compliance with BSA / AML and OFAC regulations. The BSA Officer supports the BSA / AML / OFAC processes, by overseeing alert monitoring, suspicious activity investigations and reporting, customer and enhanced due diligence, sanctions related activities, and other processes to prevent the Bank from being exploited by money laundering or terrorist financing. This person will have direct oversight to the BSA Managers, Analysts, and Specialists, a team currently consisting of 18 people.

Responsibilities :

• Leads and evolves the Bank’s BSA Program, including ensuring adherence to all Bank Policies and Procedures related to the Bank Secrecy Act, USA PATRIOT Act, and OFAC regulations.
• As part of the second line of defense (2LOD), advises the Bank's Board, Audit, BSA and Executive Committees, and other Bank personnel of emerging compliance issues, consults and guides the Bank in the establishment of appropriate controls to mitigate risks relevant to the BSA / AML and OFAC Compliance Program. Actively works to resolve client issues with branch personnel and BSA Team.
• Responsible for presentations to the Board of Directors, Risk & Compliance Committee, Audit Committee, and BSA Committee.
• Reports on a regular basis to the Board and senior management on the status of ongoing compliance with the BSA / AML / OFAC program so the Bank’s leadership can make informed decisions about existing risk exposure and the overall BSA / AML / OFAC compliance program.
• Manages BSA Department staff, including workstreams, deliverables, training, career development, performance evaluations, and disciplinary action.
• Identifies and implements opportunities for process improvements that improve productivity while ensuring the effectiveness of the controls.
• Enhances and manages the Bank’s programs for Customer Due Diligence, Customer Identification, Customer Risk Rating, and Enhanced Due Diligence. Aligns risk ratings with the Bank’s Enterprise Risk Management policy.
• Writes and updates policies and BSA / AML Compliance Program documentation as well as the BSA Committee Charter.
• Responsible for updating both the BSA enterprise-wide and the BSA department risk assessments.
• Responsible for managing and executing testing of BSA and OFAC controls.
• Works on all new initiatives that have a BSA component; responsible for rolling out new initiatives to departments and branches in a collaborative manner.
• Reviews and edits desktop procedures.
• Reviews and approves SARs, CTR Exemptions, as needed.
• Assumes a leadership role for all BSA audits and exams. Addresses any findings in a timely manner.
• Oversight of and involvement in the management of the BSA software including the implementation of Verafin.
• Participate in effective challenge and review sessions for risk and control self-assessments (RCSAs) and similar forums.
• Completes all correspondent bank BSA certifications and reviews incoming correspondent bank certifications.
• Identifies the BSA Training Program; creates materials and identifies training modules for Bank-wide BSA training; conducts BSA Training for Board of Directors, annually.

Requirements :

If you are interested in this opportunity, please send an updated resume to [email protected]