- Assist with supporting the Bank in the comprehensive end-to-end processes of the BSA/AML/OFAC program.
- Provide support to lines of business for BSA/AML-related issues.
- Investigate alerts of potentially suspicious activity from the AML monitoring system, including analysis of transaction activity and document conclusions in the AML system.
- Prepare customer activity analysis documentation and written recommendations for potential suspicious activity reports (SARs) for the SAR committee.
- Interact with lines of business to understand customer activity, as needed.
- Perform CIP and beneficial ownership validation and distribute weekly reports to lines of business.
- Conduct and analyze FinCEN 314(a) search requests in accordance with regulatory expectations.
- Review customer due diligence and account due diligence for new deposit accounts, including identifying potentially new high risk customers.
- Responsible for reviewing, correcting, and creating (as needed) CTRs for submission; conduct follow up with lines of business as needed.
- Review, research and certify all OFAC suspects generated on SilverLake each time the SDN List is updated. Complete Wealth OFAC review monthly.
- Assist lines of business with research of potential OFAC matches, as needed.
- Assist with BSA/AML audits and exams and the corrective action plans related to such BSA/AML audits and exams that are assigned to the BSA Department.
- Perform various other duties and work on various projects as assigned.
- Other duties as assigned.
- Serve as an additional resource for questions regarding BSA/OFAC policies and procedures.
- Remain current with changes in BSA regulations and assists in the development of related procedures.
- Comply with all Company policies and
- The BSA/OFAC Specialist does not have any supervisory duties.
- High School diploma (or equivalent), and two or more years of retail or commercial banking experience required.
- Proficient in using core banking software, BSA monitoring software such as Jack Henry's YellowHammer BSA, and Window 2010 Office software.
- Basic knowledge of Bank services and products.
- High degree of accuracy and attention to detail.
- Strong analytical skills.
- Experience working in a fast paced environment; prioritizing work and multi-tasking
- Good working knowledge of the Bank, its policies and procedures and federal regulations pertaining to BSA/AML and OFAC.
- Three or more years banking experience strongly preferred
- Bachelor's degree a plus
- One or more years related experience and/or training in BSA/AML Compliance
- Prior experience working with BSA monitoring software preferred
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BSA/OFAC Specialist - Downers Grove, United States - Old Second Bancorp Inc
Description
Who We Are
At Old Second, you're first For more than 150 years, Old Second has consistently put businesses and individuals throughout the Chicago area first, and we're only getting started.
With great employees we've grown from a single location in the back of a general store to 50 locations and over $6 billion dollars in assets. At Old Second we embrace values that foster an environment of community and growth. Recently, we've been voted a Forbes Best-In-State Bank for Illinois by our customers. Be a part of something big as we continue our growth story together
Position Overview
This entry level position is responsible for assisting the BSA/OFAC Officer with the Bank's mitigation of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) risk. The BSA/OFAC Specialist will review basic account criteria against an established set of parameters in order to determine ultimate disposition of assigned alerts.
Essential Job Functions:
Additional Job Functions
Minimum Qualifications
Competencies
Preferred, but not required
Thanks for considering Old Second
