SVP, BSA Officer

Irvine, CA

Job Purpose:

The BSA Officer leads and oversees the Bank’s Bank Secrecy Act, Anti-Money Laundering, and OFAC compliance program. This role is responsible for developing, implementing, and maintaining policies, procedures, controls, and monitoring processes to ensure compliance with applicable federal and state regulations. The BSA Officer also partners with business units to mitigate financial crime risk and promote a strong culture of compliance.

Essential Duties and Responsibilities: Lead the design, implementation, and ongoing enhancement of the Banc’s BSA/AML and OFAC compliance program including policies and procedures

  • Conduct annual enterprise BSA/AML and OFAC risk assessments across products, services, customers and geographic markets
  • Identify BSA/AML and OFAC risks and control weaknesses through ongoing monitoring of business activity and customers transactions, and implement corrective actions as needed. 
  • Coordinate regulatory examinations and internal audits related to BSA/AML and OFAC compliance
  • Partner with business units to integrate compliance requirements into operational processes
  • Develop and administer BSA/AML and OFAC compliance training program for all employees, senior management, and the Board of Directors
  • Oversee compliance with USA PATRIOT Act 314(a) and 314(b), including required bi-weekly 314(a) searches.
  • Manage and oversee the Banc’s Customer Identification Program and customer due diligence processes, including know your customer and enhanced due diligence requirements.
  • Administer the Banc’s OFAC compliance program, including review and disposition of potential matches. 
  • Maintain and oversee the Banc’s automated BSA/AML monitoring system (Abrigo BAM+) 
  • Oversee transaction monitoring, suspicious activity investigations, and the timely filing of SARs to FinCEN
  • Oversee the filing of Currency Transaction Reports to FinCEN 
  • Prepare regular BSA/AML and OFAC reporting for senior management and the Board of Directors
  • Coach and support junior staff to strengthen technical capability and promote a strong compliance culture 
  • Maintain current, in-depth knowledge of applicable federal and state BSA/AML and OFAC laws, regulations, and industry practices
  • Perform other duties as assigned

Qualifications:   

  • Bachelor’s degree in finance, business, or a related field.
  • Minimum of eight years of BSA/AML compliance experience in a financial institution, including at least five years in a leadership role.
  • CAMS certification strongly preferred.
  • Strong knowledge of BSA/AML and OFAC laws, regulations, and regulatory expectations.
  • Strong analytical, investigative, and reporting skills with excellent attention to detail.
  • Excellent written and verbal communication skills, with the ability to work effectively across all levels of management and staff.
  • Ability to manage multiple priorities and meet deadlines in a fast-paced environment.
  • Proficiency in MS Office as well as internet research tools. Experience with Abrigo/BAM+ is a plus

Work Conditions: 

  • This position requires sitting, standing, walking, and use of hands for routine office tasks, with occasional lifting of up to 15 pounds.
  • Work is primarily performed in an office.
  • The noise level in the work environment is usually moderate.

Training: Must complete all required mandatory and regulatory training. 

Bank Secrecy Act (BSA): Follow all policies and procedures of Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Asset Control (OFAC). 

The above job description is not intended to be an all-inclusive list of duties and standards of the position. Incumbents will follow any other instructions and perform any other related duties as assigned by their supervisor. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.