VP, Compliance & BSA Officer
Summary / Objective
The Compliance & BSA Officer is responsible for implementing and overseeing compliance with the Bank Secrecy Act, AML, OFAC, and the USA PATRIOT Act and ensuring timely and accurate completion of and submission of SARs and CTRs. In addition, this position will include chairing the SAR Committee and co-chairing the Risk/Compliance Committee, and being a key participant in special projects. This incumbent will also provide compliance related expertise with an emphasis on the areas such as, Retail, Deposit Operations, Electronic Banking and Marketing.
Experience & Education Requirements:
- Bachelor's degree in business or equivalent banking experience
- Extensive knowledge of financial institution operations, policies and procedures
- Extensive knowledge to analyze and interpret BSA and Compliance related state and federal regulations and policies and procedures
- Extensive knowledge to analyze and interpret government regulations and legal documents
- Essential Job Functions:
- Develops, administers and monitors programs that ensure the financial institution's compliance with laws, regulations and rules governing operations and product offerings
- Researches federal and state banking laws and regulations, reviews the financial institution's policies and procedures, and ensures financial institution compliance with laws and regulations
- Ensures Bank compliance with all anti-money laundering regulations, including but not limited to Bank Secrecy Act (BSA), Anti-Money Laundering (AML), the USA PATRIOT Act, and the Office of Foreign Assets Control (OFAC)
- For BSA/AML audits, act as primary contact point of contact
- Oversee the BSA program and ensure SARs and CTRs are filed in a timely and accurate manner
- Chair the SAR Committee and Co-chairs Risk/Compliance Committee
- Provides financial institution management with information to accurately determine the institution's extent of compliance
- Monitors, and as necessary, coordinates compliance activities of other departments to remain abreast of the status of all compliance activities and to identify trends
- Identifies potential areas of compliance vulnerability and risk; develops/implements corrective action plans for resolution of problematic issues, and provides general guidance on how to avoid or deal with similar situations in the future.
Required knowledge, skills & abilities:
- Superior knowledge of the industry's processes, procedures and workflow
- Must be able to respond to common inquiries from the regulatory agencies
- Superior analytical skills and the ability to find creative solutions
- Proven organizational, personnel management and management skills
- Effective written and verbal communication skills and computer skills
- Good critical thinking and problem solving skills
- Strong inter-personal/organizational skills; must work well without constant supervision, and be self-motivated and result oriented
- High level of attention to detail and accuracy
- Compliance with BSA regulations as appropriate to the position
MutualOne Bank offers a competitive salary and an excellent benefits package which includes, medical and dental insurance, 401(k) plan with Bank match, defined benefit pension plan, paid vacation, paid holidays, group term life insurance, long term disability & short term disability insurance, flexible spending accounts, tuition reimbursement and an Employee Assistance Program.
MutualOne Bank provides equal employment opportunities to all employees in regards to race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, disability, genetics or status as a protected veteran.