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BSA Officer Digital Currency Fintech

Company: Infinity Consulting Solutions, Inc.
Location: Long Beach
Posted on: January 15, 2022

Job Description:

BSA Officer Digital Currency FintechSummaryThe BSA Officer develops, implements, administers, and maintains all aspects of the Company's Bank Secrecy Act/Anti-Money Laundering Compliance Program.The BSA Officer ensures that the Company's BSA program functions at a high level of compliance with BSA/AML-related laws and regulations, internal policies, and Federal regulatory expectations.The BSA Officer is required to be fully knowledgeable and skilled in all areas of BSA/AML compliance to independently recognize, develop and implement effective compliance-related solutions for the BSA/AML program.Primary Responsibilities:Coordinates and oversees an effective BSA/AML/OFAC compliance program that is in compliance with current industry best practices, regulatory guidance and requirements.Develops, implements, administers and enhances the BSA/AML/OFAC/USA Patriot ACT monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity.Establishes and maintains an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments and reviews and analyzes unusual account activityEstablishes and maintains appropriate SAR investigation, reviews and reporting process that promotes consistent decisions; adequate investigation and research and completes detailed documentation.Conducts BSA/AML/OFAC risk assessments at least annually with consideration to products, services, members and geographies that may present BSA/AML/OFAC-related risks.Acts as a liaison/contact for examinations, internal audit and external audits of the BSA/AML compliance programs.Responds to exams and audit concerns and oversees corrective action of all related compliance deficiencies.Updates and revises BSA/AML/OFAC and all other compliance policies and procedures.Administers BSA/AML/OFAC-related training programs for directors, management and employees and provides BSA guidance and coaching to employees.Maintains BSA/AML-related monitoring and reporting systems.Serves as subject matter expert in all systems related to BSA/AML activities.Monitors and analyzes developing industry and compliance trends and changes to laws and regulations pertaining to BSA/AML/OFAC/USA Patriot Act.Advises stakeholders of emerging risks, new or amended laws, regulations, or agency guidance and recommends and implements changes and controls to mitigate those risks.Coordinates and oversees an effective BSA/AML/OFAC compliance program that is in compliance with current industry best practices, regulatory guidance and requirements.Develops, implements, administers and enhances the BSA/AML/OFAC/USA Patriot ACT monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity.Establishes and maintains an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments and reviews and analyzes unusual account activityEstablishes and maintains appropriate SAR investigation, reviews and reporting process that promotes consistent decisions; adequate investigation and research and completes detailed documentation.Conducts BSA/AML/OFAC risk assessments at least annually with consideration to products, services, members and geographies that may present BSA/AML/OFAC-related risks.Acts as a liaison/contact for examinations, internal audit and external audits of the BSA/AML compliance programs.Responds to exams and audit concerns and oversees corrective action of all related compliance deficiencies.Updates and revises BSA/AML/OFAC and all other compliance policies and procedures.Administers BSA/AML/OFAC-related training programs for directors, management and employees and provides BSA guidance and coaching to employees.Maintains BSA/AML-related monitoring and reporting systems.Serves as subject matter expert in all systems related to BSA/AML activities.Monitors and analyzes developing industry and compliance trends and changes to laws and regulations pertaining to BSA/AML/OFAC/USA Patriot Act.Advises stakeholders of emerging risks, new or amended laws, regulations, or agency guidance and recommends and implements changes and controls to mitigate those risks.Maintains in-depth knowledge of, and complies with, all Federal, departmental and security policies and procedures as well as federal regulations applicable to the position, including BSA requirements.Ensures all required regulatory reporting is conducted in a timely, accurate, and compliant manner.Ensures staff completes required CTRs by comparing system-generated reports to CTRs submitted.Coordinates completion of missing reports with staff and management.Reviews watch lists and watch list alerts. Analyzes possible matches and takes appropriate follow-up actions.Reviews AML alerts for suspicious activity. Performs additional research to determine if activity is suspicious.Composes, reviews and files SARs and conducts follow-up reviews to determine if subsequent SAR filings are requiredInvestigates staff reporting of possible suspicious behavior and files SARs as necessary.Reviews 314(a) procedures and reporting.Education / Experience / Abilities:Bachelor's degree required; JD preferred.Requires 7+ years of banking experience.Thorough knowledge of key banking regulations.Strong interpersonal, communication, and organizational skills with the ability to work independently as well as collaboratively within a team environment.Strong decision-making, analytical and investigative abilities with attention to detail and accuracy.Ability to interact effectively with all levels of management, regulators, and examiners while maintaining strict confidentiality.Ability to effectively present information to management, public groups, and/or Boards of Directors.

Keywords: Infinity Consulting Solutions, Inc., Long Beach , BSA Officer Digital Currency Fintech, Other , Long Beach, California

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