BSA/AML/OFAC Specialist II
Company: Marquette Bank
Location: Orland Park
Posted on: January 20, 2023
Position SummaryThe BSA/AML/OFAC Specialist II is responsible
for investigating, researching, analyzing and evaluating varying
degrees of cases of suspicious activity for possible anti-money
laundering violations involving all Bank lines of business (LOBs).
Stays up to date on Bank Secrecy Act, Anti-Money Laundering, and
Office of Foreign Assets Control regulations (BSA/AML/OFAC), as
well as the Bank's BSA/AML/OFAC Program, Policies and Procedures.
Initiates and develops projects to improve the position of the
Bank's BSA/AML/OFAC program.The BSA/AML/OFAC Specialist II may also
provide compliance guidance on changes in the regulatory
environment and requirements that impact the financial services
industry. Essential Duties and Responsibilities:
- Reviewing and investigating alerts, performing investigations
or enhanced due diligence reviews for potentially suspicious
activity, make risk-based SAR recommendations and prepare
- Manage alerts generated by the Banks automated BSA/AML
- Monitor additional reports generated to identify potential
suspicious activity such as early loan payoff reports and monthly
wire transfer reports.
- Perform periodic analysis of the scenarios to ensure BSA/AML
monitoring software is producing meaningful alerts.
- Compile SAR data and prepare reports for the Board of
- Monitor account activity to ensure compliance with OFAC
- Perform bi-weekly and special 314(a) searches and file required
reports, if applicable.
- 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 requested by the BSA/AML/OFAC
- Assist the BSA/AML/OFAC Officer or designee with coordinating
and facilitating training sessions to educate bank personnel on
- Act as backup to the Bank's Customer Identification Program and
- Assist the High Risk Officer with the initial risk rating
process by reviewing EDD records and assigning risk ratings, as
- Assist the High Risk Officer with high and moderate risk rated
customer reviews, as needed.
- Act as back up to the BSA/AML & CTR Specialist by performing
CTR functions and daily validations.
- 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
- Assist the BSA/AML/OFAC Officer in preparing for regulatory,
external and internal examinations.
- 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
- Implement assigned regulatory compliance responsibilities and
activities associated with Bank Secrecy Act and Money Laundering
initiatives throughout the Bank.
- Provide compliance assistance and information to all
departments/functional units within the bank.
- Performs other duties as assigned by supervisors.
Knowledge/Abilities/Experience and Training Required:
- High School graduate, college degree preferred
- ACAMS designation preferred
- At least (7) years of general banking experience with minimum
of (3) years' experience in conducting suspicious activity
monitoring/enhanced due diligence investigations and completion of
- Familiarity with Abrigo Software (formerly known as Bankers'
Toolbox) (BAM+ & BSA Manager) preferred or similar automated
- Prior Teller and or Personal Banker experience preferred and
working knowledge of bank operating environment
- 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
- 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
- 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
- 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
- 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.
Keywords: Marquette Bank, Orland Park , BSA/AML/OFAC Specialist II, Other , Orland Park, Illinois
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