BSA/AML/CFT Officer
Thumb Bank & Trust
Pigeon, MI
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JOB DETAILS
LOCATION
Pigeon, MI
POSTED
30+ days ago
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following and other duties may be assigned:
- Develop, maintain and update the Bank's BSA/AML/CFT program in accordance with federal and state regulations.
- Establish and monitor internal controls to ensure compliance with BSA, AML, CFT, USA Patriot Act, OFAC, and other regulations.
- Stay abreast of changes to federal and state banking laws affecting the BSA/AML/CFT program.
- Coordinate with compliance and operations department to ensure adherence to laws and regulations related to the BSA/AML/CFT program.
- Conduct periodic risk assessments of the bank's exposure to BSA/AML/CFT related risk.
- Monitor and coordinate the Bank's Customer Identification Program (CIP), customer due diligence efforts (CDD), and enhanced due diligence (EDD) procedures.
- Monitor and coordinate the Bank's filing of Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs), as required by the Act and its regulations.
- Monitor and coordinate the institution's Office of Foreign Assets Control (OFAC) program, including screening and managing blocked property reporting.
- Oversee the transaction monitoring system used to detect suspicious activity, including managing users, making appropriate updates to software and procedures, and conducting timely reviews and investigations.
- Design and deliver BSA/AML/CFT training for all bank staff and Board of Directors as needed, ensuring training materials are current with regulatory updates.
- Coordinate BSA/AML/CFT related exams and audits, including responding to requests from federal and state examiners, independent auditors and internal auditors. Address and remediate findings of exams/audits timely and report to senior management, audit committee or board of directors, as appropriate.
- Report regularly to the Board of Directors regarding the status of the BSA/AML/CFT program, including suspicious activity trends, regulatory changes and risk levels.
- Collaborate with other departments including deposit operations, loan operations, compliance, branch administration, human resources, and others to ensure consistent application of policies.
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