BSA Specialist
Position: BSA Specialist
Department: Compliance
Job Status: Full-Time
FLSA Status: Non-Exempt
Grade: 8
Reports to: BSA Manager
Amount of Travel Required: Travel as required
Positions Supervised: None
POSITION SUMMARY
The BSA Specialist provides day to day support to branch personnel relative to the internal currency transaction report short form as well as files accurate FinCEN Currency Transaction Reports within regulatory timeframes. Performs due diligence on customers to assess overall compliance with the bank’s Customer Identification Program (CIP).
ESSENTIAL FUNCTIONS
- Reviews the accuracy of the daily internal currency transaction reports; submits electronic FinCEN report CTRs on a daily basis in a timely manner through Verafin.
- Reviews new person reports for proper identification and verification of information in accordance with the bank’s CIP program.
- Responsible for daily review of BSA monitoring through reports, including recordkeeping for cash purchases of monetary instruments.
- Evaluates business customer cash activity for recommended CTR Exemption and may submit electronic filing for new CTR Exemption following risk assessment
- Serves as a resource regarding BSA cash reporting and recordkeeping policies/procedures and regulations, including training.
- Makes recommendations for changes to department procedures.
- Maintains a strong understanding of Bank Secrecy Act (BSA), Office of Foreign Asset Control (OFAC) requirements and related policies and procedures.
- Serves as backup to review new organization reports for compliance with CIP.
- Monitor for other departments’ compliance with BSA related requirements, such as OFAC.
- Provide documentation for audits and regulatory examinations.
- Must complete BSA, AML, and other Regulatory and Continuing Education as assigned.
- Must adhere to all bank and regulatory policies and procedures specific to position.
- Assumes additional responsibilities as requested.
POSITION QUALIFICATIONS
Competencies
- Attention to Detail
- Communication
- Decision Making/Judgment
- Job Knowledge
- Problem Solving
Education/Experience/Skills & Abilities
- High School Diploma or GED required.
- 3+ years of compliance and/or BSA experience or the equivalent banking experience.
- Ability to work independently.
- Possess a strong attention to detail.
- Experience in managing multiple projects in a deadline driven environment.
- Working knowledge of Microsoft Office.
- Must be able to communicate well with others, both orally and in writing.
- Ability to negotiate DNA, FISERV and AML Detection software
PHYSICAL DEMANDS
Physical Demands
Stand: O (Occasionally)
Walk: O (Occasionally)
Sit: C (Constantly)
Handling / Fingering: N (Not Applicable)
Reach Outward: N (Not Applicable)
Reach Above Shoulder: N (Not Applicable)
Climb: N (Not Applicable)
Crawl: N (Not Applicable)
Squat or Kneel: N (Not Applicable)
Bend: N (Not Applicable)
Lift/Carry
10 lbs or less: N (Not Applicable)
11-20 lbs: N (Not Applicable)
21-50 lbs: N (Not Applicable)
51-100 lbs: N (Not Applicable)
Over 100 lbs: N (Not Applicable)
Push/Pull
12 lbs or less: N (Not Applicable)
13-25 lbs: N (Not Applicable)
26-40 lbs: N (Not Applicable)
41-100 lbs: N (Not Applicable)
N (Not Applicable) Activity is not applicable to this occupation.
O (Occasionally) Occupation requires this activity up to 33% of the time (0-2.5+ hrs/day)
F (Frequently) Occupation requires this activity from 33%-66% of the time (2.5-5.5+ hrs/day)
C (Constantly) Occupation requires this activity more than 66% of the time (5.5+ hrs/day)
Other Physical Requirements
None
Westfield Bank has reviewed this job description to ensure that essential functions and basic duties have been included. It is not intended to be construed as an exhaustive list of all functions, responsibilities, skills and abilities. Additional functions and requirements may be assigned by supervisors as deemed appropriate.