AVP BSA & Deposit Compliance Officer (Non-Remote)

As the AVP BSA & Deposit Compliance Officer, you will be crucial to implementing the bank's commitment to protecting customers and ensuring compliance. This role is responsible for the development, implementation, and ongoing management of the Bank Secrecy Act (BSA) and Deposit Compliance programs. You will collaborate closely with the VP-Compliance & Risk Manager to stay ahead of emerging deposit compliance trends and provide strategic guidance to mitigate risks. By proactively enhancing controls and processes, you will play a key role in safeguarding our institution.

PRIMARY RESPONSIBILITIES:

BSA / AML Program Management

• Lead and manage the BSA (n/k/a AML/CFT) program, ensuring full compliance with all applicable laws and regulations to combat fraud, money laundering, USA Patriot Act, and the financing of terrorism (OFAC).
• Oversee and refine the Customer Identification Program (CIP), Customer Risk Assessments, and Customer Due Diligence procedures.
• Perform Enhanced Due Diligence for high-risk customers and activities, identifying necessary actions to mitigate potential risks.
• Ensure accurate and timely filing of Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs).
• Regularly update and maintain BSA-related policies, procedures, and training for staff.
• Stay current by participating in annual BSA/AML/OFAC training and ensure the Board and staff receive adequate annual training on BSA/AML and OFAC compliance.
• Act as the go-to expert on fraud prevention across all bank departments.
• Regularly update and maintain the bank's ID Theft Policy, and ensure the staff is well-trained on these protocols.
• Serve as the Privacy Officer responsible for developing, implementing, and maintaining privacy policies and procedures ensuring compliance with data protection laws and advising on privacy related matters and provide training to staff.

Deposit Compliance Management

• Serve as the subject matter expert for Deposits-related regulations including Regulation CC, DD, E, Overdraft Programs, Privacy, UDAAP.
• Perform complex compliance reviews to ensure that the compliance system of controls and procedures are operating effectively and able to identify areas in need of improvement.
• Develop, review, and maintain policies and procedures, ensuring they align with current regulations and industry best practices.
• Collaborate with other departments to ensure adherence to regulations.
• Support the development of new products, services, processes, and systems ensuring compliance is built into every step.
• Design and deliver comprehensive Deposit Compliance training for bank staff.
• Approve marketing materials and advertisements, ensuring compliance with regulatory requirements.
• Stay informed on emerging compliance issues by attending relevant training and continuously enhancing your expertise.
• Assist with Consumer Complaints identifying deposit-related compliance issues.

SKILLS

• In-depth knowledge of federal and state banking regulations.
• Ability to research and apply the latest compliance standards.
• Exceptional communication skills and the ability to explain complex regulatory concepts.
• Strong decision-making abilities, balancing compliance with practical business needs.
• Proficiency with various software and technology platforms to streamline compliance activities.
• Strong problem-solving abilities and the ability to work well under pressure.

QUALIFICATIONS

• Bachelor's degree from a four-year college or university.
• A minimum of 3 years of banking experience in roles such as banker, lender, or operations, or at least 2 years of banking compliance experience.
• Formal education or training in compliance, whether through in-house programs or financial industry-related curricula.