Acting manager job description

Responsible for developing, implementing and administering all aspects of the Bank Secrecy Act compliance program. Performs various quality control reviews and monitoring in the area of Bank Secrecy Act, , Anti-Money Laundering, OFAC, Customer Due Diligence, Beneficial Ownership, Enhanced Due Diligence, and Customer Identification Program; ensuring that the Bank's BSA compliance efforts are maintained on a daily basis. Performs any function within scope of authority and expertise, to provide the highest level of service and responsiveness to customers and co-workers.
Responsibilities

Oversees day-to-day compliance with all aspects of the Bank Secrecy Act: including but not limited to daily monitoring of cash transactions, filing of currency transaction reports, sale of monetary instruments, exempt customer reporting, customer due diligence and enhanced customer due diligence, beneficial ownership, 314(b) information requests, 314(a) scans, suspicious activity reporting, AML alert processing, and OFAC.
Supervises BSA staff inclusive of: daily activities, conducting annual employee performance reviews, providing ongoing counsel, training, development and motivation. Participates in hiring, salary, promotional, and termination recommendation process
Directs the Anti-Money Laundering program and daily monitoring of account activity through the use of available systems both automated and manual. Maintains automated solutions through performance monitoring and configuration adjustments on a regular basis.
Directs the completion of enhanced due diligence on high-risk customers and recommends changes to risk ratings when warranted.
Coordinates investigation and reporting of suspicious activity to ensure Bank remains in compliance with regulations and Bank policy.
Monitors completion of all BSA/AML/OFAC related obligations through monthly and quarterly due diligence reviews and reports.
Interacts closely with third party vendors to report and resolve system issues.
Recommends and implements BSA/AML/CIP/OFAC policy and procedure changes.
Serves as liaison for BSA audits, system validations, and regulatory exams.
Builds and maintains effective working relationships throughout the bank and with local, state and federal agencies.
Demonstrates strong working knowledge of all aspects of BSA, AML, OFAC, CIP, CDD, and Beneficial Ownership.
Closely monitors changes in the regulatory environment and updates the Banks program and/or procedures as needed.
Provides pertinent management reports as required.
Provides for periodic bank-wide training in collaboration with the bank's training department via both in-person presentations and training software applications.
Completes ongoing external BSA/AML related training.
Performs periodic risk assessment and mitigation procedures.
Regularly communicates statuses and updates to the BSA Officer.
Represents the bank through participation in various industry and community activities.
Performs all duties in accordance with prescribed regulatory compliance guidelines and Bank policies and procedures.
Performs related and unrelated duties as may be required.

Qualifications

BA or BS degree or its equivalent, preferably in finance, accounting or related discipline.
A minimum of 5 years BSA/AML experience.
Must be experienced using dynamic BSA/AML monitoring systems, preferably, Verafin.
Must be knowledgeable in all areas of the BSA/AML and regulatory requirements
Must be experienced in the areas of: SAR, CTR, CDD, OFAC, 314(a) and 314(b)
Must possess excellent communication, writing and presentation skills
Self-motivated with solid analytical, investigative skills, and supervisory skills
Must possess at least intermediate technology skills, including fluency in Word, Excel and Outlook applications
Strong leadership and supervisory skills

Middlesex Savings Bank is an EOE AA M/F/Vet/Disability

PI192963923

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