BSA Compliance Officer/ OFAC Responsible Officer

The Bank Secrecy Act Compliance Officer (the "BSACO") will have the responsibility to ensure that the Bank maintains an effective BSA/AML Compliance Program, consistent with applicable regulatory requirements and "best industry" practices. He or she also acts as the OFAC Responsible Officer who has the responsibility to ensure that the Bank complies with the U.S. sanction requirements.SPECIAL WORK HOURS On U.S. bank holidays (generally, 8:45 am-10:30 am, 12pm-1pm and 4pm - 5pm), monitor OFAC hits on SWIFT messages on-or-off site. Christmas Day is included. New Year''s Day is excluded.JOB FUNCTIONS/DUTIES AND RESPONSIBILITIESComplete day-to-day Specific Monitoring Responsibilities under the Bank''s Account Policy :Generate/Review monitoring reports that the Bank''s proprietary transaction monitoring system (TMS) generates and/or Compliance Analyst of Regulatory Compliance Department ("RCD") prepares for her/him.Key daily monitoring includes:Monitor, investigate, handle case-managements for Red Flags and/or Over-the-Threshold alerts generated in TMS (daily)Analyze the Reports generated in TMS (periodic)Key periodic monitoring includes:Analyze and update existing threshold s in TMS (quarterly)Identify and verify Beneficial Owners for proposed customers on boarding and existing customers. (periodically)Apply the Bank''s Global AML Country Risk Ratings, create the Enhanced Due Diligence list and share with the relevant departments. (at least once a year)Conduct algorithm, sensitivity and fuzzy logic testing for FircoSoft. (quarterly)Ensure the Bank''s Watchlist screening functions of FircoSoft connected to GTX (the Bank''s SWIFT gateway) and Refinitiv''s Watchlists are in place. (daily)Screen customer names, securities names, banks & counterparties, vendors, employees and authorized signatories, BIC codes, pre-defined banks and SWIFT messages (MT103, 202, 202COV and 210) against the Watchlists. (Onboarding, ad-hoc and periodic)Conduct the following checks on ad-hoc and periodic basis:OFAC/FinCEN checks , FinCEN Section 314(a) c heck s, Section 311 and Politically Exposed Persons (PEPs)Conduct required customer due diligence (CDD) and enhanced due diligence (EDD) including CIP documents, Wolfsberg CBDDQ/FCCQ, AML Questionnaires, USA PATRIOT Act Certificates, Beneficiary Ownership Certificates, Certificate of Unlawful Internet Gambling Enforcement Act (UIGEA), negative news searches and other compliance dependently review and verify the Bank''s own form of Customer Profile/Regulatory Compliance Checklist (CP/RCC) and BSA Risk Matrix for each proposed and existing dependently review and verify that all account opening (including sub-accounts of the existing customers) regulatory requirements are satisfied.Send any required notices including Section 311 notices to custodial/depository and Trust (CLO) customers and securities lending counterparties .Manage all aspects of the BSA/AML Compliance Program (the Program) including the OFAC requirements below:A system of internal controls to assure ongoing compliance with the BSA/AML/OFAC Laws and Regulations, independent testing for BSA/AML/OFAC compliance.This is the responsibility of the Internal Audit Department of the Bank. A designated individual or individuals responsible for coordinating and monitoring BSA/AML/OFAC compliance (i.e., this position) .Training for appropriate personnel .This is the responsibility of Legal , RCD and HR.A customer identification program (CIP) with risk-based procedures that enable the Bank to form a reasonable belief that it knows the true identify of its customers.This is delegated to the specifically identified Responsible Officers of the Bank.Manag e adherence by the Bank with the BSA/AML/OFAC and its implementing regulations.Have a sufficient level of authority and responsibility.Be responsible for overall BSA/AML/OFAC compliance even though he or she may delegate BSA/AML/OFAC duties to other employees.Have sufficient authority and resources (monetary, physical and personnel) to administer an effective Program based on the Bank''s risk profile).Be fully knowledgeable of the Bank Secrecy Act and all related regulations. Stay abreast of legal and regulatory changes as they relate to BSA/AML/OFAC requirementsHave the expertise, authority and time to satisfactorily complete the job.Have lines of communication that allow him or her to regularly apprise the Compliance Committee of the Board of Directors and the senior management of ongoing compliance with the BSA and its implementing regulations.Report pertinently BSA-related information, including the reporting of SARs filed with FinCEN and the Compliance Committee.Carr y out the directions of the Board of Directors'' Compliance Committee.Ensure that the Bank''s employees adhere to the Bank''s BSA/AML /OFAC policies, procedures and processes. This responsibility includes appropriate training of employees.Prepare/Review the designated RCD department procedures.Conduct an adequate BSA/AML /OFAC Risk Assessment of the B ank. Understanding of the Bank''s products, services, customers , geographic locations and transactions is required .Act as the Bank''s OFAC Responsible Officer under the Bank''s Foreign Assets Control Regulations Policy vestigate any reported BSA/AML/OFAC-related "Reportable Event" and report the investigation result to the designated parties as necessary.Be consistent with the requirement that the compliance function is independent from management and other departments (including without limitation, both internal audit and risk management) of the Bank, performs all duties and responsibilities as assigned by management.Work closely with all relevant departments including to continually work to improve the Bank''s existing BSA/AML/OFAC Compliance Program. Be available to answer questions and offer guidance with respect to BSA/AML/OFAC matters.Make and present ad-hoc and/or periodic reports on activities to the BSA/AML Meeting Members and the Board of Directors '' Compliance Committee.Act as the Secretary of quarterly management-level BSA/AML Meetings.Participate in periodic compliance meetings conducted by the Parent Bank.Assist the RCD members for preparing the materials and minutes for a periodic Compliance Working Group.Assist the RCD manager to ensure the Bank maintains an effective Corporate Compliance Program that is separate program from BSA/AML/OFAC Program.Participate in IT-related projects/UAT for BSA/AML/OFAC compliance purposes.Attend outside seminars/webinars for BSA/AML/OFAC.Provide high quality work by ensuring accuracy and seeking to continuously improve our processes and platform by embracing new and better ways of doing things.REQUIREMENTSFully knowledge able and sufficient experience of banking compliance issues specifically BSA/AML /OFAC laws and regulationsStrong attention to details and ability to generate accurate reports/documentsAbility to perform multi-tasks to meet deadlines with excellent time management skillsAbility to organize compliance meetings, prepare minutes/materials and make presentationExcellent communication and interpersonal skillsGood understanding of banking operationsCorporate compliance knowledge is preferable but not mandatoryExcellent PC skills (Word, Excel, Internet)ACAM Certificate (Association of Certified Anti-Money Laundering Specialists) is preferable but not mandatory - provided by Dice

Created: 2025-11-01