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BSA Specialist

Company: Marquette Bank
Location: Orland Park
Posted on: November 25, 2022

Job Description:

Position SummaryThe BSA/AML/OFAC Specialist's responsibilities include acting as the CTR subject matter expert by filing CTRs accurately and timely, performing CTR exemption reviews, and implement regulatory and system changes as applicable to the CTR process. Additional responsibilities include investigating and making decisions related to potentially suspicious activity, including alerts, cases and SAR/No SAR recommendations. The BSA/AML/OFAC Specialist is responsible for handling assigned tasks and procedures regarding compliance with various anti-money laundering laws and regulations. The BSA/AML/OFAC Specialist is responsible for providing compliance guidance on changes in the regulatory environment and requirements that affect the financial services industry. The BSA/AML/OFAC Specialist ensures a proactive approach to BSA/AML/OFAC compliance in a business-friendly manner. Essential Duties and Responsibilities:

  • Review, decision and file CTRs timely and accurately in the capacity as the CTR subject matter expert.
  • Perform reviews of Horizon release notes and report any CTR related changes to the BSA Department, coordinate with the IS Department on scheduling updates and conduct testing once the updates occur.
  • Manage the FIS support ticket process by creating tickets through FIS portal and monitor until a resolution is identified for BSA related issues.
  • Process daily non-validated transactions within the banks automated software.
  • Compile CTR data and prepare reports for the Board of Directors.
  • Reviewing and investigating alerts, performing investigations or enhanced due diligence reviews for potentially suspicious activity, make risk-based SAR recommendations and prepare SARs.
  • Identify weaknesses in practice/procedures and recommend solutions that increase the level of compliance without unnecessarily burdening the business unit.
  • Respond to 314(b) requests and any requests received by law enforcement timely and accurately as assigned by the BSA/AML/OFAC Officer or Assistant BSA/AML/OFAC Officer.
  • Coordinate and facilitate training sessions to educate bank personnel on BSA/AML/OFAC.
  • Attend applicable regulatory training, seminars and conferences to maintain a current, thorough understanding of money laundering and terrorist financing issues, including policies, procedures, regulations, industry best practices, criminal activities and developing trends.
  • Implement assigned regulatory compliance responsibilities and activities associated with Bank Secrecy Act and Money Laundering initiatives throughout the Bank.
  • Review and update policies and procedures as necessary to maintain compliance with all applicable Anti-Money Laundering laws, regulations, and guidelines, (e.g., BSA, CIP, USA PATRIOT Act and OFAC).
  • Assist the BSA/AML/OFAC Officer in preparing for regulatory, external and internal examinations.
  • Provide compliance assistance and information to all departments/functional units within the bank.
  • Adheres to Code of Conduct and internal controls for which this position is responsible.
  • Performs other duties as assigned. Knowledge/Abilities/Experience and Training Required:
    • High School graduate, college degree preferred
    • ACAMS designation or similar certification in the Financial Crimes area preferred.
    • 3 - 5 years of general banking experience with minimum of (2) years' experience in BSA/AML, OFAC and USA Patriot Act requirements.
    • Familiarity with Abrigo Software (formerly known as Bankers' Toolbox) (BAM+ and BSA Manager) preferred or similar automated solution.
    • Prior Teller and or Personal Banker experience preferred and working knowledge of bank operating environment and systems.
    • Working knowledge of Federal and State Anti-Money Laundering compliance statutes and regulations.
    • Proficient in Microsoft Word and Excel.
    • Ability to read and interpret statutes and regulations.
    • Ability to relate to individuals at all levels within the organization as well as with regulatory agencies.
    • Demonstrated ability to handle difficult and sensitive business situations.
    • Solid analytical, creative and problem-solving abilities. Physical Demands: The physical demands described here are representative of those that must be met by employees in order to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
      • Employee is regularly required to remain in a stationary position.
      • Employee may need to occasionally move about inside the office to access file cabinets, office machinery, etc.
      • Employee is regularly required to operate a computer and other office productivity machinery (i.e., a calculator, copy machine and computer printer).
      • Employee may need to constantly position themselves in the office in order to file upper and lower drawers.
      • Employee in this position frequently communicates with staff and clients and must be able to exchange accurate information in these situations.
      • Employee may need to frequently lift and/or move up to 10 pounds and occasionally lift and/or move up to 25 pounds.
      • Employee specific vision abilities required by this position include close vision, distance vision, color vision, peripheral vision, depth perception and ability to adjust focus. Work Environment: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The noise level in the work environment is usually moderate.EOE-Females/Minorities/Protected Veterans/Individuals with Disabilities PI197008049

Keywords: Marquette Bank, Orland Park , BSA Specialist, Other , Orland Park, Illinois

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