Assistant BSA​/AML & OFAC Officer

Purpose

The Assistant Bank Secrecy Act/Anti-Money Laundering and Office of Foreign Assets Control (BSA/AML & OFAC) Officer supports the BSA/AML & OFAC Officer in administering and enhancing Five Star Bank’s BSA/AML and OFAC Compliance Program. This role assists in implementing compliance initiatives that align with the enterprise’s risk profile and regulatory expectations. The Assistant BSA/AML and OFAC Officer is required to be fully knowledgeable and skilled in all areas of BSA/AML/OFAC compliance.

The Assistant BSA/AML & OFAC Officer plays a key role in transaction monitoring, investigations, risk assessments, regulatory reporting, management and Board reporting, and training while supporting department leadership in maintaining high levels of regulatory compliance.

• Supports the ongoing management and enhancement of the Bank’s BSA/AML and OFAC Compliance Program.
• Assists with day-to-day monitoring and investigations related to suspicious and/or potentially fraudulent activity.
• Supports tuning and maintenance of transaction monitoring systems and assists in system validations and upgrades.
• Assists in the filing management of SARs and CTRs, ensuring timeliness and accuracy.
• Participate in annual BSA/AML and OFAC risk assessments.
• Assists in maintaining and enhancing the Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) programs.
• Assists in the maintenance of an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments and reviews and analyzes unusual account activity.
• Supports quality control program and testing of the BSA/AML/OFAC program to ensure operational effectiveness.
• Helps prepare and review reports for internal management and regulatory stakeholders.
• Assists with regulatory exams and internal/external audits by preparing requested documentation and responding to findings under the direction of the BSA/AML & OFAC Officer.
• Monitors changes in BSA/AML/OFAC laws and regulations and helps implement necessary updates to procedures and systems.
• Participates in the delivery of BSA/AML/OFAC training to staff across the bank.
• Maintains knowledge of applicable regulations and industry best practices, including FinCEN priorities, OFAC enforcement actions, and applicable sections of the USA PATRIOT Act.
• Serves as a point of contact for BSA/AML/OFAC-related inquiries from internal business lines.
• Performs other duties as assigned by the BSA/AML & OFAC Officer.
• Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.

• Education:
  
  Bachelor’s degree required; relevant field such as Finance, Criminal Justice, or Business preferred.
• Prior
  
  Experience:
  
  5+ years banking experience, 5+ years with an emphasis on BSA/AML/OFAC, financial crimes, or regulatory experience, prior Assistant or BSA/AML & OFAC experience preferred.
• Licenses or Accreditation: CAMS or CAFP preferred.
• Working knowledge of the application of BSA/AML/OFAC regulatory requirements, with a strong interest in career development in financial compliance.
• Experience using BSA/AML monitoring systems and investigative tools preferred.
• Experience interacting with banking regulators or auditors is a plus.
• Ability to effectively elevate emerging risks and present information to management, public groups Committees, and/or Boards of Directors.

• Familiarity with applicable banking laws and regulations, including the Bank Secrecy Act, OFAC regulations, and the USA PATRIOT Act.
• Strong attention to detail with excellent problem-solving and investigative skills.
• Proficient in Microsoft Office Suite and BSA/AML-related software platforms.
• Ability to manage multiple tasks in a fast-paced environment and meet deadlines.
• Effective verbal and written communication skills.
• Collaborative mindset and ability to work well across teams and departments.
• Excellent analytical and problem-solving skills, with the ability to interpret complex data.
• Strong leadership and…