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The Position Job Title BSA Operations Team Lead
Job Description SUMMARY The BSA/AML Operations Team Lead is a crucial senior member of the BSA team, responsible for providing leadership, expertise, and guidance in the department's daily operations. This role supports the Operations Manager in daily functions and system maintenance, assists in the review and approval of AML investigations, ensures reporting timelines are met, and escalates AML issues to management. The Operations Team Lead must have a comprehensive understanding of AML regulatory requirements and investigations. They must be adept at analyzing complex events of suspicious activity or money laundering, ensuring all potentially suspicious events are accurately identified, documented, and reported within specified timeframes in compliance with the Bank Secrecy Act Compliance Program.
MAJOR DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS) Provide Subject Matter Expert ("SME") analysis on BSA, OFAC, transaction monitoring, investigations, and SAR requirements. Review and approve escalated suspicious activity, perform independent analysis, and quality control to determine if the activity is suspicious and requires reporting. Assist with the annual BSA/AML Risk Assessment. Assists in updating and maintaining BSA/AML/OFAC policies and procedures to maintain compliance with existing requirements along with new and emerging risk to ensure an efficient and well-organized program. Help build out tactical and scalable solutions for the operational team to manage compliance tasks. Determines if case should be created and/or escalated for SAR consideration and assists with documentation within regulatory timeframes in accordance with the Bank Secrecy Act Compliance Program. Compiles data and maintains necessary records and files to ensure efficient and consistent reporting of all suspicious investigations. Serves as mentor and trains junior staff in investigations related to money laundering, OFAC, and other potentially suspicious activities. Makes recommendations for closing accounts and performs associated follow-up to ensure the closure of the accounts. Researches, analyzes, and investigates customer account behavior on a daily basis for potential suspicious activity and/or money laundering; tracks trends and detects unusual activity or behavior; monitors large currency activity and transactions; determines if transactions are suspicious in nature, such as significant changes in balances, cash structuring in deposits, loans payments and certificate of deposit purchases, wire or ACH transfers, monetary instrument sales, new account openings, etc.; and responds to alerts detected by the Bank's AML or OFAC software system. Reviews large currency transactions and reports for completeness and accuracy. Files appropriate currency transaction reports within required deadlines. Assumes responsibility for special projects including Bank's OFAC and Information Sharing Program, gathering data, and preparing reports for BSA management.
ADDITIONAL DUTIES AND RESPONSIBILITIES - Conducts and drives team meetings when necessary to report on the status of alerts, investigations, and other items deemed important by management.
- Responds to inquiries or refers inquiries to the appropriate person and exhibits the necessary follow-through with customers and/or staff involved.
- Conducts training of personnel in various BSA/AML and OFAC topics.
- Assumes responsibility for various department functions in the absence of staff members or in overload situations.
- Completes all required compliance exams on a yearly basis.
- Adherence to all First United Policies and Procedures.
- Dress professionally.
EMPLOYEE SPECIFICATIONS To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and Work Experience - High School Diploma or GED required.
- Bachelor's Degree in Criminal Justice/Criminology or Finance/Banking/Business preferred.
- ACAMS, CFE and/or CRCM Certification required.
- Minimum 6-10 years Banking/Compliance experience required.
- Expert knowledge of federal BSA/AML and OFAC regulations required.
- Familiar with bank operations in general.
Technical/Functional Competencies - Ability to professionally interface (both orally and in writing) with Management and Team members, State and Federal regulators and officials, and business partners.
- Ability to work with highly-confidential and sensitive business information and to maintain high standards of confidentiality related thereto.
- Proficient in Microsoft Office or similar software programs.
- Must possess a high level of initiative and a natural investigative demeanor.
- Ability to work independently and in a team environment to achieve department goals and objectives consistent with First United's standards of excellence.
- Must be comfortable managing multiple and/or shifting priorities, and produce professional and accurate work product, sometimes under time constraints.
- Must possess the desire to increase learning and gain further expertise on AML/BSA/OFAC compliance matters
NOTE: This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned by supervisor to meet the ongoing needs of the organization.
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All Locations: Plano-Parkwood
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First United is an Equal Opportunity Employer. To the extent required by Federal or State law, First United does not discriminate in employment opportunities or practices on the basis of race, color, religion, sex, national origin, or any other characteristic protected by law.
