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BSA AML Officer (Bank Secrecy Act/Anti-Money Laundering)

Company: WEX, inc.
Location: Portland
Posted on: October 16, 2020

Job Description:

JOB SUMMARY:

WEX BANK LOCATED IN OGDEN, UTAH IS LOOKING FOR A SELF-DRIVEN AND EXPERIENCED BSA AML PROFESSIONAL TO JOIN OUR TEAM AS ITS BSA AML OFFICER.

THE BSA OFFICER IS RESPONSIBLE FOR THE IMPLEMENTATION AND ADMINISTRATION OF ALL ASPECTS OF THE BANK SECRECY ACT COMPLIANCE PROGRAM, UNDER THE GUIDANCE OF THE CCO.

THIS POSITION PERFORMS VARIOUS QUALITY CONTROLS REVIEWS AND MONITORING PERTAINING TO THE BANK SECRECY ACT, USA PATRIOT ACT, ANTI-MONEY LAUNDERING, OFAC AND CUSTOMER IDENTIFICATION PROGRAM COMPLIANCE USING INDUSTRY STANDARD AND REGULATORY GUIDANCE TO ENSURE THE BANK S COMPLIANCE EFFORTS ARE MAINTAINED ON A DAILY BASIS.

ADVISES SENIOR MANAGEMENT AND BANK PERSONNEL OF EMERGING BSA COMPLIANCE ISSUES AND CONSULTS AND GUIDES THE BANK IN THE ESTABLISHMENT OF CONTROLS TO MITIGATE RISKS. ASSISTS THE CCO IN ENSURING DEPARTMENT ACTIVITIES RUN SMOOTHLY AND EFFICIENTLY. THE BSA AML OFFICER WILL ASSIST AND ADVISE THE THIRD PARTY OVERSIGHT TEAM IN COMPLIANCE ISSUES REGARDING BSA AML. THE POSITION OF BSA OFFICER IS REQUIRED TO BE FULLY KNOWLEDGEABLE AND SKILLED IN ALL AREAS OF THE DEPARTMENT.

THE IDEAL CANDIDATE WILL HAVE THE OPPORTUNITY TO:

BSA OVERSIGHT:

*

MANAGE BSA DEPARTMENT EMPLOYEES AND PARTIAL OVERSIGHT OF OTHER EMPLOYEES.
*

MAINTAIN CURRENT KNOWLEDGE OF THE BANK SECRECY ACT AND ALL RELATED ANTI-MONEY LAUNDERING AND OFAC REGULATIONS.
*

ASSIST IN THE DEVELOPMENT OF MONITORING REPORTS AND RISK SCORING FOR ACCOUNTS.
*

REVIEW, MONITOR, AND ANALYZE VARIOUS REPORTS, LOGS, AND TRANSACTION DATA, OR OVERSEE STAFF WHO PERFORMED THESE FUNCTIONS, TO IDENTIFY TRENDS, UNUSUAL ACTIVITY, DETERMINE IF TRANSACTIONS ARE SUSPICIOUS IN NATURE, SUCH AS SIGNIFICANT CHANGES IN BALANCES, STRUCTURING IN LOAN PAYMENTS, AND WIRE OR ACH TRANSFERS, NEW ACCOUNT OPENINGS, ETC.
*

ASSIST IN DEVELOPING, COORDINATING, AND FACILITATING TRAINING PROGRAMS, SESSIONS, AND SEMINARS TO EDUCATE BANK PERSONNEL ABOUT BSA RELATED COMPLIANCE REQUIREMENTS AND PROCEDURES.
*

UPDATE PROCEDURES AND MONITOR PROCESSES FOR COMPLIANCE WITH THE BANK SECRECY ACT AND RELATED REGULATIONS.
*

PREPARE FOR AND COORDINATE REGULATORY AND INTERNAL AUDIT EXAMINATIONS.
*

ENSURE COMPLIANCE WITH 314(A) AND 314(B) (PATRIOT ACT) RESPONSIBILITIES.
*

REVIEW SAR MONITORING REPORTS AND SARS NOT FILED.
*

OVERSEE RESEARCH AND RESPOND TO INFORMATION REQUESTS FROM FINCEN AND OTHER GOVERNMENT ENTITIES.
*

ADHERE TO THE REPORTING AND RECORDKEEPING REQUIREMENTS OF THE BANK SECRECY ACT AND ANTI-MONEY LAUNDERING RULES AND REGULATIONS, OBSERVING ECONOMIC SANCTIONS BY PROHIBITING TRANSACTIONS AS SPECIFIED BY THE OFFICE OF FOREIGN ASSET CONTROL (OFAC), FOLLOWING THE BANK S CUSTOMER IDENTIFICATION PROGRAM (CIP) RULES, OBSERVING ALL BANK POLICIES AND PROCEDURES RELATING TO BSA, OFAC, CIP, CDD BO, AND RELATED ACTS, AND PARTICIPATION IN ONGOING RELATED TRAINING.
*

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:

*

SENDING SUSPICIOUS ACTIVITY REPORTS TO THE BOARD
*

TRAINING BOARD MEMBERS AND OTHER SENIOR MANAGEMENT ON BSA COMPLIANCE
*

PRESENTING THE WRITTEN RISK ASSESSMENT AND BANK SECRECY ACT POLICY 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 IN COORDINATION WITH THE CCO.
*

COLLABORATE WITH THE ADMINISTRATOR OF THE AUTOMATED SUSPICIOUS ACTIVITY MONITORING SYSTEM TO ADJUST METRICS AND MONITOR ALERT VOLUMES.
*

COORDINATE WITH THE THIRD PARTY OVERSIGHT MANAGER ON BSA AML OVERSIGHT OF THIRD PARTIES, INCLUDING ASSISTING ON RISK ASSESSMENT, OVERSIGHT PROGRAM DEVELOPMENT AND MONITORING GUIDELINES.



GENERAL COMPLIANCE OVERSIGHT:

*

PROVIDE ASSISTANCE TO THE COMPLIANCE DEPARTMENT WHEN NEEDED.
*

MAINTAIN A PROFICIENT KNOWLEDGE OF ALL APPLICABLE RULES AND REGULATIONS.
*

RESEARCH REGULATORY ISSUES AND RESPOND TO COMPLIANCE QUESTIONS FROM BANK PERSONNEL, USING LEGAL AND REGULATORY REFERENCE MATERIALS, REGULATORY AGENCIES, BANK LEGAL COUNSEL, AND PROFESSIONAL ASSOCIATIONS AND ORGANIZATIONS, AS APPROPRIATE.
*

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.

DECISION MAKING

*

PROVIDE CONTINUOUS EXERCISE OF JUDGMENT FOLLOWING BROAD GUIDELINES. IDENTIFY AND SELECT COMPLEX CHOICES OF ACTION WHERE STANDARD PRACTICES MAY NOT EXIST.
*

ACCOMMODATE DETAILED WORK, PROBLEM SOLVING, REASONING, MATH, PRESENTATIONS, VERBAL COMMUNICATION, WRITTEN COMMUNICATION, ANALYTICAL REASONING, TRAINING OTHERS, MULTIPLE CONCURRENT TASKS AND CONSTANT INTERRUPTIONS.

MINIMUM REQUIRED QUALIFICATIONS FOR CONSIDERATION

*

BACHELORS DEGREE, OR EQUIVALENT BANKING EXPERIENCE
*

SEVEN YEARS GENERAL BANKING OR REGULATORY AGENCY EXPERIENCE, WITH AN EMPHASIS IN BSA COMPLIANCE AND OPERATIONS. UNDERSTANDING OF LEGISLATIVE AND REGULATORY PROCESSES
*

TEN YEARS GENERAL BANKING OR REGULATORY AGENCY EXPERIENCE, WITH AN EMPHASIS IN BSA COMPLIANCE AND OPERATIONS.
*

PREVIOUS EXPERIENCE MANAGING HIGH RISK BSA/AML PROGRAMS, AND EXPERIENCE WITH MSBS.
*

MUST PASS A SUCCESSFUL BACKGROUND INVESTIGATION

*

FAMILIARITY WITH ALL FUNCTIONAL AREAS OF BANKING
*

EXCELLENT ORAL AND WRITTEN COMMUNICATION SKILLS
*

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
*

PERSUASIVE AND TEAM-ORIENTED
*

ABILITY TO COMMUNICATE EFFECTIVELY WITH STAFF AT ALL LEVELS
*

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
*

GOOD ORGANIZATIONAL AND TIME MANAGEMENT SKILLS

EQUAL OPPORTUNITY EMPLOYER/VETS/DISABILITY

Keywords: WEX, inc., Portland , BSA AML Officer (Bank Secrecy Act/Anti-Money Laundering), Other , Portland, Maine

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