Assistant BSA Officer/Fraud Officer Job Description

Bank of the Valley is currently accepting resumes for an Assistant BSA Officer/Fraud Officer.  This role is responsible for Bank Secrecy Act (BSA) compliance and assisting the Compliance/Audit Director in all aspects related to fraud and BSA compliance.  This includes the development, implementation and administration of various components of the Bank’s BSA compliance program.

Essential Functions and Responsibilities

• Research, analyze, and interpret all applicable deposit, BSA, and OFAC laws and regulations; assist with implementation of changes and/or enhancements to existing deposit, BSA, and OFAC policies and procedures
• Serve as secretary of the Compliance Committee and as a chairperson of the Suspicious Activity Report (SAR) Committee.
• Ensure administration of the Bank’s automated BSA monitoring software (Jack Henry Yellow Hammer) and work alerts as needed including all monthly BSA module alerts and all daily KYC fraud alerts.
• Responsible for reviewing and filing Currency Transaction Reports (CTR).  Complete Currency Transaction Report exemptions and Suspicious Activity Reports, then submit to the Compliance Director or their designee for review and filing.
• Maintain Suspicious Activity Report log.
• Serve as the liaison with law enforcement for fraud and other suspicious activity as needed.
• Assist with coordination of compliance and BSA regulatory examinations, internal and external audits, and compliance monitoring reviews.
• Assist with implementation and oversight of related new regulatory proposals, new regulations, and/or changes to existing regulations.
• Assist with monitoring adherence to established policies, procedures, and practices related to BSA and deposit compliance.
• Assist with training staff with related laws, regulations, policies, and procedures.
• Assist in resolving related deficiencies noted in compliance monitoring reviews, internal or external audits, or regulatory examinations.
• Assist in preparation of related risk assessments, initiatives or corrective actions.
• Assist in investigating and responding to related customer complaints.
• Assist the Compliance/Audit Director and Senior Management to ensure deposit products and related marketing efforts are compliant with all regulations.
• Serve as a resource for deposit compliance and BSA questions by conducting research and providing support and guidance.
• Create SAR Referrals for any suspicious activity found in Yellow Hammer alerts.
• Manage the BSA list of High and Medium risk rated accounts and customers, with monthly checks for High risk and quarterly checks for medium risk.
• Review the Red Flag ‘yes’ answers on all new loans, adjusting the BSA risk rating if needed.
• Conduct quarterly audits on beneficial ownership information for new loans and deposit accounts.
• Assist with subpoenas and other requests from law enforcement personnel.
• Review Garnishments & Levies and raise customer’s risk as needed.
• Complete monthly Outgoing Wire audits.
• Analyze weekly CDD and ADD reports generated from Yellow Hammer software, checking for high-risk answers.
• Send the Operations department a weekly report of Yellow Hammer generated CTR filings.
• Train all new employees on BSA.
• Provide ongoing BSA training to all employees.
• Complete all other duties as assigned.

Required Skills

• Excellent verbal, written and phone communication skills.
• Excellent organizational skills, attention to detail and high level of accuracy.
• Must be able to multi-task and organize priorities.
• Ability to work both independently and in a team environment.
• Critical thinking and complex problem-solving skills.
• Must maintain a high level of confidentiality.

Education and Experience

• Bachelor’s Degree or equivalent work experience
• Five or more years of deposit operations or deposit compliance and BSA compliance experience

Please email your resume to humanresources@bankofthevalley.com to apply.  The deadline to apply is Friday, December 12.

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