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Vice President of Operations and Bank Secrecy Act (BSA) Officer, Harwood Heights, IL
This Vice President of Operations and Bank Secrecy Act (BSA) Officer position is 100% Onsite and NOT Remote.
The Vice President of Operations manages the operational risk, and legal document research functions of the bank. This includes BSA/AML investigations, deposit fraud prevention and detection, ATM and debit cards, Regulation E claims, ACE Security, FRB EUAC, and processing litigations (subpoenas, summons, garnishments, and citations to discover assets) and levies for the bank, Verification of Deposits, research requests, and requests received from Estates, Illinois Department of Public Aid, Social Security Administration, and Department of Public Housing. Responsible for collaborating with stakeholders to detect, prevent and investigate financial fraud and elder abuse, recover financial fraud losses, and protect the assets of the Bank and customers.
The BSA Officer is responsible for coordinating the development, implementation and administration of all aspects of the corporate-wide Bank Secrecy Act Compliance Program. This position monitors compliance with state and federal Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering (AML), and OFAC laws and regulations. The position of BSA Officer is required to be fully knowledgeable and skilled in all areas of the department, as well as understand the bank’s products, services, customers, entities, geographic locations, and the potential money laundering and terrorist financing risks associated with those activities. Responsible for revisions, implementation and oversight of bank policies, programs, and procedures to ensure bank wide compliance with related laws and regulations. This position oversees the procedure analyst function for the bank and serves as a member of the Compliance Committee, and the TSC Committee.
– Maintain current knowledge of the Bank Secrecy Act and all related anti-money laundering and OFAC regulations.
– Not to harm consumers with any act that could be misleading, unfair, deceptive, or abusive in act or practice.
– Oversee daily review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large currency activity; determine if transactions are suspicious in nature, such as kiting, significant changes in balances, cash structuring in deposits, loans payments, and certificate of deposit purchases, wire or ACH transfers, monetary instrument sales, new account openings, etc.
– Develop, coordinate, and facilitate training programs, sessions, and seminars to educate bank personnel about BSA related compliance requirements and procedures.
– Coordinate the development and implementation of Bank forms, notices, and procedures and monitoring processes for compliance with the Bank Secrecy Act and related regulations.
– Prepare for and coordinate regulatory and independent audit examinations.
– Ensure compliance with 314(a) and 314(b) (PATRIOT Act) responsibilities.
– Ensure that all required regulatory reporting is conducted in a timely, accurate, and complete manner, including but not limited to the timely and properly completed submissions of Suspicious Activity Reports (SARs) and currency Transaction Reports (CTRs) to FinCEN.
– Oversee and coordinate the monitoring of account activity for suspicious patterns and activity, conducts suspicious activity report (SAR) investigations, decide when to file suspicious activity reports, and file SARs when applicable.
– Perform full supervisory functions of assigned staff including interviewing, hiring, training and disciplining employees; complete and conduct performance appraisals.
– Research and respond to information requests from FinCEN and other government entities.
– Prepare reports for the Board of Directors on a periodic basis and ensure that the Board is kept fully informed of the BSA program, including but not limited to: a. Sending suspicious activity reports to the Board b. Training Board members and other senior management on BSA compliance. Presenting the written risk assessment and Bank Secrecy Act policy and program to the Board annually.
– Maintain current knowledge of all federal and state laws and regulations, along with the Bank’s policies and procedures.
– Prepare the annual BSA Risk Assessment, and AML Model Risk management procedures.
– Administer automated BSA/AML/Fraud system, researches and resolves alerts and conducts investigations within the system.
– Conduct self-assessments and assist in preparation and coordination of independent audits and regulatory examinations.
– Assist in special projects and tasks for the department as directed.
– Assist in the development, revision or reviews of bank policies, procedures, disclosures, notices, and forms to comply with legislative and regulatory changes or new requirements.
– Bachelor’s Degree or equivalent work experience.
– 3+ years of BSA/AML managerial experience in a banking environment, managing and minimum five years retail banking and/or bank operations experience required.
– Effective verbal, written, and interpersonal communication skills with the ability to instruct others, train personnel, write reports, correspondence, and procedures, and speak clearly to customers and employees.
– Professional certification preferred, i.e., CAMS, CAFP.
– Strong management and leadership skills.
– Effective planning and organizational skills.
– Ability to handle multiple projects simultaneously.
– Must be accurate and detail oriented.
– Must be able to exercise confidentiality and discretionary judgment.
– Understanding of legislative and regulatory processes.
– Familiarity with all functional areas of banking.
– Comprehensive understanding of general banking compliance regulations and laws.
– Comprehensive understanding of general banking operations activities, products, and services.
– Ability to proactively identify and assess potential concerns and risks.
– Ability to resolve issues, work independently, and meet deadlines.
– Ability to communicate effectively with staff at all levels.
– Proficient with Microsoft Word and Excel.
Keywords: Harwood Heights IL Jobs, Vice President of Operations and Bank Secrecy Act (BSA) Officer, BSA Risk Management, AML Model Risk Management, Word, Excel, Financial, Banking, Illinois Recruiters, Information Technology Jobs, IT Jobs, Illinois Recruiting
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