BSA and Anti-Money Laundering Officer

BSA and Anti-Money Laundering Officer ? One of New England's strongest financial institutions is seeking a BSA Officer, responsible for performing a variety of functions in support of the Bank's BSA and AML Compliance Program. Specifically, the position will assist in the coordination and execution of the Bank's overall Bank's BSA and AML Compliance Program, including sampling and testing of accounts on a risk-driven basis, providing general and targeted training wherever necessary, and performing responsibilities traditionally related to BSA/AML compliance professionals. The position is also responsible for assisting in monitoring and responding to new and changing regulations to ensure that any changes are properly incorporated into the Bank's policies and procedures. The candidate will workl with senior management and line managers throughout the Bank and its subsidiaries with a goal toward maintaining a robust and proactive BSA and AML Compliance Program.
Under the direction of the SVP-Chief Compliance Officer, with guidance from the Chief Risk Officer, the BSA Officer will assist the organization in accomplishing its objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of the BSA and AML Compliance Program. The BSA Officer is responsible for developing/maintaining policies & procedures and monitoring compliance with the requirements of the BSA & AML Compliance Program. This position may be based out of our Ellsworth, ME location.
Essential Responsibilities include:
The BSA Officer shall report annually to the Board, on the state of BSA compliance, and shall make such additional reports as necessary during the course of the year to keep the Board apprised on major BSA compliance deficiencies, significant changes in law, or regulation, and important compliance initiatives.
Stay informed of regulatory changes and amend policies and procedures as deemed necessary;
Stay informed of new money laundering trends and schemes in order to be able to detect and thwart criminal activity;
Charged with responsibility for the continued development and documentation of a formal written program of procedures to ensure that each branch, department and all employees are aware of and comply with the letter and spirit of all laws and regulations that affect their operations. Communicate all new requirements and modifications to the regulations to appropriate staff;
Work with the BHTS and Charter Trust BSA designee(s) to ensure they are compliant with all BSA and AML requirements.
Provide assistance and guidance to all employees regarding interpretation and implementation of the Bank Secrecy Act and related federal regulations and this compliance program.
Ensure compliance with the BSA & AML Compliance Program and will monitor conformance by all employees, report any incidences of failure of employees to comply with the BSA, related regulations and/or this policy;
Act as Bank liaison with all federal agencies for matters pertaining to the Bank Secrecy Act;
Ensure that all employees are adequately trained;
Ensure compliance with Currency Transaction Reporting (CTR) requirements and that all types of cash transactions area captured for cash aggregation;
Administer the Banks CTR Exemption list including the adding of new exempt customers, continued eligibility, and annual reviews;
Ensure Monetary Instrument sales area monitored to ensure compliance with procedures:
Review customer relationships for suspicious activity when requests for Bank records are received;
Perform a review of AML system rules built to review suspicious activity at least annually;
Perform a review of the Risk Rating process as least annually;
Ensure monitoring of all watch lists (including OFAC and 314a) is conducted timely;
Review all 314(a) requests that result in a hit;
Ensure monitoring of all queries developed to identify suspicious activity and AML system alerts are reviewed timely;
Ensure all suspicious activity is reviewed, Suspicious Activity Reports (SARs) are approved and e-filed timely, and cases where SARs may not be filed are reviewed;
Have reports prepared for the SAR Committee on all suspicious activity, SARs filed, cases reviewed but not filed, recommendations for case/account closings and any changes to the BSA /AML Program;
Verify that record retention under the Bank Secrecy Act is being followed;
Responsible for preparing and filing certification forms required pursuant to voluntary sharing of information related to terrorist activities or money laundering, ensuring that sharing policies and procedures meet the requirements of the USA PATRIOT Act and implementing regulations, and ensuring that safeguards are in place to provide the requisite security and confidentiality of information received from other financial institutions pursuant to the USA PATRIOT Act.
Day-to-day implementation and administration of the institution's CIP program, including employee training;
Developing and maintaining an institution-wide CIP procedure;
Development of an institution-wide CIP employee training program;
Development of an institution-wide CIP monitoring program; and/or recommending any modifications that may be necessary.
Maintain an exception report with a list of names, addresses, and account numbers of those customers who have missing CIP information. Follow-up to ensure omissions are corrected within 45 days of account opening.
Ensure that any deficiencies (whether identified by regulatory examinations, independent reviews or in any other manner) are promptly and effectively addressed.
Review alerts on a semi-annual basis for FRAML analysts to ensure there is no unusual activity.
Enthusiastically support the Bank's Guiding Principles and Brand Behaviors.
Adhere to regulatory requirements, such as Anti-Money Laundering and Bank Secrecy Act.
Comprehend and adhere to federal banking regulations in accordance with Bar Harbor Bank & Trust's policies and procedures.
The role requires a candidate with the following knowledge, ability and skills:
Minimum of a high school degree or the equivalent
Minimum of 5 years of relevant professional experience, preferably in the banking or financial industry.
Comprehensive understanding of General Banking compliance regulations and bank products.
Ability to read, and effectively analyze and interpret government regulations.
Strong research and critical reasoning skills, with good judgment and common sense.
Ability to establish priorities and work independently.
Ability to analyze procedures and determine the impact on BSA compliance.
Strong organizational skills.
Ability to follow through on exception items.
Ability to work cooperatively and effectively with department managers and supervisors.
Excellent verbal and written communication skills.
Good understanding of Word and Excel PC applications.
Bar Harbor Bank & Trust offers a competitive salary, medical/dental/vision/life insurance, paid holidays, 401(k) plan, paid vacation and sick time, incentives, wellness program, and continuing education benefits.
Bar Harbor Bank & Trust is an Equal Opportunity Employer, Minority/Female/Disability and Protected Veteran.
If you are interested in joining our team, please apply online at https://www.bhbt.com

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