BSA Compliance Officer Job at Veritas Partners, Westminster, MD

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  • Veritas Partners
  • Westminster, MD

Job Description

Responsibilities:

· Lead the development, implementation, and administration of the BSA compliance program

· Ensure adherence to BSA/AML regulations, the USA PATRIOT Act, FACT Act, and OFAC requirements.

· Oversee the daily activities of the BSA Department.

· Develop, update, and maintain the bank’s BSA/AML/CIP/FACT/OFAC Policies and Risk Assessments, as needed, but at least annually.

· Oversee the monitoring and analysis of transaction data to identify suspicious activities.

· Advise senior management on compliance.

· Serves as a primary point of contact for regulators, auditors and other stakeholders; support exam preparations; oversee remediation efforts

· Prepare and submit regulatory reports, such as Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs).

· Responsible for FinCEN 314(a) procedures, monitoring, and reporting and reviews FinCEN 314(b) and responds to inquiries accordingly.

· Maintain comprehensive records of compliance activities.

· Stay up to date with regulatory changes, industry trends and financial crime risk to ensure the institution’s policies and procedures reflect current requirements.

· Attend annual BSA/AML training.

· Develop and implement risk mitigation strategies.

· Manage relationships with critical BSA vendors for the purpose of enhancing/refining software.

Requirements:

· Bachelor's degree in finance, business administration, Criminal Justice, or a related field.

· Minimum of 5+ years of experience in BSA/AML compliance.

· Strong knowledge of AML regulations, the USA PATRIOT Act, FACT Act, and OFAC requirements.

· CAMS (Certified Anti-Money Laundering Specialist) certification strongly preferred.

· Excellent analytical skills for monitoring and analyzing transaction data.

· Effective communication skills for advising senior management and conducting training sessions.

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