Senior BSA Manager

Job Summary

The Senior BSA Manager assists in the management of the Bank’s Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) Compliance Program, including detection of unusual or suspicious activity in a timely manner and detection of high-risk activities in a timely manner while safeguarding the integrity of the Bank and ensuring the Bank’s compliance with BSA/AML regulations. The Senior BSA Manager supports the Acting BSA /AML Compliance Officer to manage complex and high risk activities and/or customers and helps other managers with overseeing the alert monitoring, suspicious activity investigations and reporting, Customer Information Program (CIP), Know Your Customer (KYC) process, Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD), Currency Transaction Reporting and Office of Foreign Assets Control (OFAC) processes, including acting as the liaison with law enforcement and/or external regulatory agencies. The Senior BSA Manager has experience with influencing a larger team with various levels of experience, is knowledgeable with multiple facets of the BSA/AML and OFAC operations and requirements and can effectively communicate to Senior Management with appropriate level of details. 

Essential Duties

• Manages a team of BSA analysts and specialists focused on Enhanced Due Diligence, CIP/CDD, new accounts activities, OFAC reviews, and related activities. 
• Enhances and manages the Bank’s programs for Customer Identification Program, Customer Due Diligence and Enhanced Due Diligence.  

• Enhances and manages the process for high-risk reviews and new account onboarding processes. 
• Identifies and implements opportunities for process improvements that improve productivity while ensuring the effectiveness of the controls. 
• Helps support the 314(a), 314(b) and OFAC processes.
• Supports BSA/AML Compliance Officer and Senior Management to ensure team’s workload, reviews and assignments are up to date. 
• Works closely with BSA Team, BSA/AML Compliance Officer and Senior Management with audits and examination requests. 

• Liaison between law enforcement for legal requests.
• Manages department staff, responsible for cross training and staff reviews.
• Assigns Rules Based Risk Rating (RBRR) and EDD reviews and ensures completion by assigned date. Manages any co-sourcing, as applicable. 
• Manages the High-Risk Customer List.
• Manages Due Diligence Manager (DDM) and assigns DDM and tolerance reviews.
• Manages 314(a), 314 (b) and OFAC screening processes.
• As needed, completes secondary review of various BSA monitoring Certifications.
• As needed, supports the BSA/AML Compliance Officer with update of department’s policies and desktop procedures or other duties as assigned.
• Actively participates in the Verafin implementation project including parameter settings and workflow design, testing, procedures, and related activities.
• Acts as the control point for the Department to ensure that all BSA-related requirements, procedures and time frames are met.
• Assists with preparing presentations for the BOD and Executive Committee meetings.  

Complies with all State and Federal Banking regulatory requirements, including but not limited to: BSA, AML, OFAC, CIP, Financial Elder Abuse Reporting, Sexual Harassment, Information Security and privacy requirements. 

Non-Essential Duties

• Attend outside seminars and conferences to keep abreast of hot topics and trends.

Required Knowledge 

• Bank Secrecy Act
• OFAC
• USA PATRIOT Act 
• Privacy Laws
• Banking experience at a regional bank is mandatory.

Basic Knowledge, Skills and Abilities

• Strong and proven management experience 
• Highly organized and self-directed with the ability to motivate staff and attract and retain excellent talent.  
• Able to work under pressure, multi-task and strong ability to influence, both the team and management
• Strong communication (spoken, written and listening) skills.  
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