The BSA Officer uses oversight systems, interdiction software, and audit processes to perform daily transaction monitoring and identify suspicious activity patterns. Supervises daily operations to identify and respond to suspicious activity violating current anti-money laundering (AML) regulations as defined in the US Bank Secrecy Act (BSA) or other governmental anti-terrorist financing programs. Being a BSA Officer leads investigations of suspicious activity to pursue corrective actions and ensure completion of required filings. Monitors activity and ensures adherence to Know your Customer (K ...YC) protocols and regulatory requirements for required filings and reporting. In addition, BSA Officer maintains extensive knowledge of financial regulations, risk management best practices, and changing fraudulent trends to develop and implement appropriate compliance procedures. Delivers compliance training with up-to-date regulatory information and procedures to develop and guide well-informed staff. Typically requires a bachelor's degree. May have the Certified Anti Money Laundering Specialist (CAMS) certification. Typically reports to a director. The BSA Officer supervises a group of primarily para-professional level staffs. May also be a level above a supervisor within high volume administrative/ production environments. Makes day-to-day decisions within or for a group/small department. Has some authority for personnel actions. Working as a BSA Officer typically requires 3-5 years experience in the related area as an individual contributor. Thorough knowledge of functional area and department processes.More Show Less
