SVP BSA OFFICER in Los Angeles, California at Commonwealth Business Bank

POSITION OVERVIEW

This position is responsible for the direct management of the department. Knowledge of bank operations is necessary to provide management and guidance. This position conducts daily research and analysis of bank wide customer new account and transaction activity across all business lines to determine suspicious activity and files Suspicious Activity Reports (SARs) as needed. Also, responsible for performing & suspicious activity investigation & anti-laundering enhanced due diligence. This includes BSA (Bank Secrecy Act), OFAC (Office of Foreign Assets Control), and CIP (Customer Identification Program). This position is also responsible to directly report to the Board and Senior Management on any BSA related matters within the bank, issues, and changes/updates to regulations.

POSITION RESPONSIBILITIES:

Oversees all aspects of the corporate-wide Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) programs

Review laws and regulations that impact the bank compliance requirements

Analyzes account transactions utilizing the BSA tracking software and data processing system

Prepares BSA package for Management Committee meeting

Provides branch and customer support on inquiries on day-to-day issues related to Ops Admin and BSA

Analyzes complex transactions in identification of suspicious account activity

Responsible for providing training to all investigators in order to comply with regulatory requirements and changes in law

Responsible for establishing, implementing and ensuring that BSA training is delivered for all bank employees and the Board of Directors

Ensures that all deadlines are met as required by law

Reviews account related legal documents as necessary

Reviews various reports to identify transaction patterns

Analyzes account data to determine the level of risk associated with each account and recommending a risk rating

Maintains BSA and OFAC risk Assessments

Ensures effective programs are in place for CDD, KYC, AML, OFAC, Transaction monitoring, CTR’s, Suspicious Activity monitoring and reporting

Investigating possible suspicious activities and filing SAR’s as necessary

Ensure BSA/OFAC related policies and procedures are current and complete

Analyze transactions to determine if they are suspicious in nature and take appropriate action and maintain proper documentation

Responsible for OFAC and required annual reporting to OFAC

Responsible for FinCEN 314(a) list search request

Responsible for FinCEN 314(b) request/response

Prepares SARs/CTRs filed report to the Board of Directors

Reviews and tracks CTRs for properly filing

Comply fully with all Bank policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Anti Money Laundering, Code of Conduct, and etc.). Must complete all required training

SKILLS / QUALIFICATIONS:

Maintain high standards of confidentiality and security

Must possess good computer, written and oral communication skills

Well-organized, analytical and capable of performing multiple tasks

Ability to prioritize and use a sound judgment is required

BSA/AML or branch operations experience highly preferred

Ability to time management skills

EDUCATION / EXPERIENCE:

Bachelor’s degree from accredited 4-year University required. Master’s degree desired

Minimum of 7 years’ experience in a Financial Institution dealing with Compliance/BSA and/or audit experience

BSA/AML or branch operations experience highly preferred

We offer a competitive total rewards package, including but not limited to Medical, Dental, Vision, and Life Insurance, 401k retirement savings plan, and paid federal holidays, for this full-time position within the annual salary range of $150,000 - $160,000. Annual pay ranges are determined based on qualifications, level, and location. Exact compensation may vary based on your skills and experience.

Must be authorized to work in the US.

We are an Equal Opportunity Employer. All applicants will receive consideration for employment without regard to race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender identity, gender expression, genetic information, or military or Veteran status, or any other characteristic protected by law.