at Old Second National Bank in Downers Grove, Illinois, United States
Job Description
Who We Are
At Old Second, you're first! For more than 150 years, Old Second has consistently put businesses and individuals throughout the Chicago area first, and we're only getting started.
With great employees we've grown from a single location in the back of a general store to 50 locations and over $6 billion dollars in assets. At Old Second we embrace values that foster an environment of community and growth. Recently, we've been voted a Forbes Best-In-State Bank for Illinois by our customers. Be a part of something big as we continue our growth story together!
Position Overview
The BSA Officer is responsible for developing, implementing, administering, and maintaining all aspects of the Countering the Financing of Terrorism /Anti-Money Laundering/OFAC Compliance Program. Accountable to ensure a high level of compliance with the AML/CFT related laws and regulations, internal policies and procedures and OCC regulatory expectations. The BSA Officer is required to be fully knowledgeable and skilled in all areas of AML/CFT Compliance and be able to independently recognize, develop, and implement effective compliance solutions for the AML/CFT program. The BSA Officer is the primary contact for OCC examinations and independent auditors.
The BSA Officer reports to the Head of Financial Crimes, manages a team of BSA/AML professionals and interacts with mid and executive level management and the Board of Directors.
Primary Job Functions
Coordinate and oversee an effective AML/CFT/OFAC Compliance Program that is in line with the industry best practices, regulatory guidance and requirements, and the Bank's risk appetite. Serve as the Bank's subject matter expert in AML/CFT/OFAC.
Manage, enhance, and administer the AML/CFT/OFAC automated monitoring system to ensure that appropriate parameters are in place to identify suspicious, including on-going tuning.
Oversee and maintain various software and tools utilized for AML and BSA regulatory compliance including on-going gap analysis.
Maintain appropriate SAR/Suspicious Activity investigations, review and reporting processes that promote consistent decisions; adequate investigation and research; and complete and detailed documentation.
Work with lines of business to conduct AML/CFT/OFAC risk assessments annually with consideration to products, services, customers and geographies that may present AML/CFT/OFAC related risks.
Partner with line of business when regulatory changes occur to ensure processes are properly updated and trained, as appropriate.
Responsible for ensuring all required regulatory reporting is conducted in a timely, accurate and compliant manner, including the filing of Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) to FinCEN, FinCEN 314(a) procedures and reporting, and OFAC.
Serves as the primary contact for OCC examinations and internal independent audits of the AML/CFT/OFAC compliance programs. Participate in response to exam and audit concerns and oversee corrective action of all related compliance deficiencies or violations.
Ensure that all members of the Board are trained at least annually on general requirements of the BSA, changes to regulatory requirements, and the Bank's policy. Assign appropriate AML/CFT/OFAC training for the lines of business.
Set standard of work requirements and complete quality control reviews of BSA Specialist/Analyst/Team Lead work product.
Supervisory Responsibilities
The BSA Officer has direct supervisory responsibilities and carries out responsibilities in accordance with the company's policies and applicable laws. Leads direct and indirect reports. Responsibilities include planning, assigning and directing employee's work; evaluating performance, rewarding and disciplining employees, addressing complaints, performance coaching, and resolving issues; interviewing; hiring and training.
Secondary Responsibilities
Stay abreast of and analyze developing industry and compliance trends, changes to laws and regulations pertaining to AML/CFT/OFAC/USA Patriot Act. Advise on emerging risks, new or amended laws, regulations or agency guidance and recommend and implement changes and controls to mitigate those risks.
Serves as the Bank's subject matter expert for questions regarding AML/CFT/OFAC policies and procedures and also provide BSA guidance to various lines of business.
Contribute as a voting member of new-product committee and is responsible for identifying AML/CFT/OFAC inherent and residual... For full info follow application link.
Old Second National Bank is an Equal Opportunity Employer, and all qualified applicants will receive consideration for employment without regard to their real or perceived race, color, religion, creed, sex, marital status, national origin, citizenship, ancestry, age, sexual orientation, gender identity, disability, military status, genetic information, veteran’s status, or any other
protected characteristic under applicable law.
