Bank compliance officer vs bsa/aml compliance officer

Differences between bank compliance officer and bsa/aml compliance officer duties and responsibilities

Bank compliance officer example responsibilities.

• Participate in OCC exam preparation and review including research and presentation of documentation to achieve compliance with federal examiner requests.
• Prepare highly detail and concise written documentation to support reasons why no SAR are deemed necessary.
• Assist in creating, updating and reviewing compliance policies, procedures and guidance/tools relate to BSA/AML including KYC and OFAC.
• Implement rule-based SAR parameters for the detection of possible suspicious activity in wire transmission.
• Identify all transactions in OTC equity securities and ascertain that every recommendation to customers meet suitability standards via exclusion or exemption.
• Conduct personal injury, vehicle accidents, and worker's compensation investigations in anticipation of litigation.

Bsa/aml compliance officer example responsibilities.

• Participate in OCC exam preparation and review including research and presentation of documentation to achieve compliance with federal examiner requests.
• Conduct and verify that OFAC rules and regulations are apply and follow for assets from target foreign countries and individuals.
• Identify all transactions in OTC equity securities and ascertain that every recommendation to customers meet suitability standards via exclusion or exemption.
• Create policies, procedures, and train bank staff regarding HMDA reporting.
• Complete suspicious activity reports (SARs) to notify FinCEN of suspect incidents of money laundering or fraud.