Under general supervision, and in compliance with established policies and procedures, this position is responsible for developing, implementing, and maintain systems and processes to ensure ongoing compliance with the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Customer Identification Program. The BSA Officer is required to be fully knowledgeable and skilled in all areas of the BSA department. The BSA Officer will perform assigned duties in accordance with Midstates Bank's Core Values and will adhere to the Quality Service Standards.
Maintain current knowledge of all federal and state laws and regulations, along with the Bank's policies and procedures to ensure the bank is in compliance with applicable laws and regulations.
Responsible for updates and revisions to Bank Secrecy Act, Anti-Money Laundering and Customer Identification policies and procedures.
Responsible for preparation of the BSA Risk Assessment and periodic updates.
Develop, coordinate, and facilitate training programs to educate bank personnel about BSA related compliance requirements and procedures.
Direct the BSA/AML compliance program to ensure sufficient internal controls to promote an effective control environment and prioritize focus towards areas identified as having the highest level of BSA/AML risk to the bank.
Monitor account activity for suspicious patterns and activity, conduct suspicious activity report investigations, high risk customer/account reviews, and recommend when to file Suspicious Activity Reports (SARs) while maintaining a high-level of confidentiality of the SAR reporting process.
Responsible for ensuring all required regulatory reporting is conducted in a timely, accurate, and compliant manner, including filing of Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) to FinCEN. Also responsible for MLRS reporting and FinCEN 314(a) and 314(b) procedures and reporting.
Conduct manual analysis on high-risk products such as cash, international ACH, wires, early loan payoffs and accelerated loan payments, cash secured loans, etc.
Integral lead for the automated BSA/AML monitoring system.
Prepare for and participate in regulatory BSA examinations and internal/external audits.
Participate in compliance training and continuing education to maintain proficiency with BSA/AML laws and regulations.
Interact with vendor to resolve system issues.
Participate in civic activities to promote growth and development of the community and a positive image for the bank.
Perform other projects, assignments, and tasks as assigned.
Must be experienced in the areas of: SAR, CTR, 3.14(a) & 3.14(b) filings.
Must be experienced using dynamic BSA/AML monitoring systems, preferably, Yellow Hammer Fraud Detective or Financial Crimes Defender.
Knowledge of BSA/AML/OFAC/fraud regulations.
Strong knowledge of bank administration, lending, operations, and products/services.
Self-motivated with the ability to manage time and adhere to strict deadlines.
Must possess strong analytical and problem-solving skills with ability to gather, organize, and interpret data while exercising good judgement when assessing risk.
Strong attention to detail with an investigative approach and have the ability to formulate independent preliminary conclusions.
Ability to maintain confidentiality and adhere to bank policy and procedures.
Demonstrates strong communication skills to include written, verbal, and interpersonal skills when communicating with others.
Ability to use sound judgment and handles difficult situations with tact, diplomacy, and discretion.
Demonstrates leadership skills when working toward the Bank's strategic goals.
Must be able to work under pressure and exhibit good judgment in making decisions pertaining to the overall health of the bank and its employees.
Education and Experience:
Bachelor degree preferred, preferably in finance, accounting, or related discipline
Professional certification (ACAMS, CRCM) preferred
Previous experience managing bank BSA/AML programs preferred
Minimum of 5 years of BSA/AML compliance experience
We are a community bank dedicated to providing the highest quality customer service through tailored banking experiences, innovative products, and highly trained employees. As a community bank, the hard-earned money you deposit with us works even harder as we reinvest it in the communities you live in. From the corner coffee shop, to the new apartment complex, to the 10,000-acre farm operation a few miles away, we help build and sustain western Iowa.
We're still locally owned and operated, even as we've grown into a $635 million financial services company with more than 110 employees in 10 Iowa locations – Avoca, Council Bluffs, Harlan, Kingsley, Le Mars, Minden, Missouri Valley, Mondamin, Neola and Sergeant Bluff.