Job Description
GENERAL SUMMARY:
This position is responsible for: managing, supporting and providing expertise within EagleBank, in order to ensure adherence to State and Federal regulatory compliance regarding the Bank Secrecy Act, USA PATRIOT Act and OFAC. Managing the workflow of the AML/BSA Analyst(s), AML/BSA Investigator(s) and Compliance Assistant to ensure processes are completed in an accurate and timely manner. Interacting with Bank personnel to ensure compliance with laws and regulations. The AML/BSA Supervisor will provide support for the Enterprise Wide BSA/AML/OFAC program with heavy emphasis in alert/case investigations and SAR filings. Support the BSA training efforts; participate in briefings of senior management and staff on compliance issues. This position works with minimal supervision, handles complex issues and problems and routinely makes recommendations to management when appropriate.
MAJOR DUTIES AND RESPONSIBILITIES:
- Review and approve cases using automated AML/BSA monitoring system to make sure that any suspicious activity has been identified and reported.
- Investigate questionable activity reported and submitted by the branches and other lines of business utilizing different management systems to determine if the activity reported is suspicious or not.
- Review individuals and entities accounts reported on the Subpoena utilizing different management systems to determine if money laundering or other suspicious activity noted in the accounts should be reported.
- Investigate suspicious activity generated by automated AML/BSA monitoring system or reported by Branch personal and other lines of business. Compiles supporting documents; prepares SAR narrative then files it through FinCEN E-filing system within 30 days of determining that the activity is suspicious to comply with Federal regulations.
- Perform 90 day reviews for account activity for submitted SARs to determine if the previously reported suspicious activity ceased. If the suspicious activity continued a supplemental SAR will be filed to report the newly identified suspicious activity to comply with Federal regulations.
- Provide AML/BSA oversight of the third party vendor to answer questions, do additional investigations or contact branches/departments to find out or obtain additional information or clarification about certain transactions to ensure when approving the alerted case investigations each is done accurately and no suspicious activity is missed.
- Provide mentoring, consulting and guidance to other team members.
- Provide answers to branches/departments inquires related to AML/BSA questions to provide best information possible in regards to AML/BSA regulation to better serve the customers and the Banks interest.
- Supervise work performed by AML/BSA Analyst(s) and Compliance Assistant to ensure accuracy and completion. Review EthicsPoint, subpoena reviews and SARs. Advise AML/BSA Compliance Manager of any issues.
- Oversee, coordinate, manage and assist the AML/BSA Team on investigation and monitoring functions, SAR referrals, tracking and filing process.
- Manage daily workflow of alert & report reviews by team.
- Train staff for enhancement of monitoring and investigation skills where applicable.
- Assist the Director with preparation of reports and collaborate with management to ensure that the board is kept fully informed of the BSA/AML program.
- Assist management with preparation for and coordinate of regulatory and internal/external audit compliance exams.
- Develop and cordinate the Banks efforts to comply with SAR reporting laws and regulations.
- Assist the Director of AML, BSA, OFAC Compliance with revising BSA/AML policies and procedures when industry or regulatory changes.
- Assist the Director of AML, BSA, OFAC Compliance with establishment of controls and implementing of controls to mitigate risk in connection with Enterprise Wide BSA risk assessment.
- Assist with implementation of new AML Monitoring system.
- Other duties as assigned.
EDUCATION & EXPERIENCE:
- A college degree in a related field
- Six years of related work experience.
- Certified Anti-Money Laundering Specialist (CAMS) certification recommended.
- AML/BSA related professional certification preferred.
- 2 years of prior supervisory/leadership experience required