Bank Secrecy Act Officer, Risk and Regulatory Office (Downtown - Seattle, WA)

Salary Range:

(Depending on knowledge, skills, abilities and location. Certain level jobs may be eligible for bonus, commission, and/or equity awards.)

Posting Date:

This job will be open and accepting applications for a minimum of three days from the date it was posted.

Benefits* worth writing home about:

• Medical, dental, and vision coverage for employees and their families
• Life, disability and family Leave
• 401(k) and Roth 401(k) with employer match
• Wellness program, employee assistance program, "Commute Trip Reduction" (CTR) and various employee discounts
• Generous vacation, sick leave, 11 paid holidays, and 16 hours of paid leave every year for community service work
• Free employee checking account and employee home loan discounts

*For eligible employees averaging 20 or more hours per week.

EO/AA Employer including Vets and Disabled.

Qualified applicants with arrest and conviction records will be considered in accordance with legal requirements.

If you are a California resident, you may be entitled to certain rights regarding your personal information, which is information that identifies, relates to, or could reasonably be linked with a particular California resident or household. Additional information about our data collection practices and location specific notices is available on our privacy policy.

California applicants may click this link Fair Chance Ordinance for Los Angeles County to see additional information.

Job Description Summary:

Job Details:

ESSENTIAL FUNCTIONS:

• Develop, implement, administer a formal written Bank Secrecy Act/Anti-Money laundering/OFAC Compliance Program that is consistent with current industry practices, regulatory guidance and requirements. The programs will be presented to the ERMC annually for review and approval.
• Oversee an effective BSA/AML/OFAC risk assessment process that meets industry and regulatory standards.
• Oversee an effective customer and enhanced due diligence risk rating and monitoring program to include initial and ongoing assessments, and review and analysis of suspicious account activity.
• Oversee an effective OFAC Sanctions program, including performing risk assessments of other sanction reports to include in the monitoring program and implementing appropriate controls to mitigate terrorist and other illegal entities from facilitating transactions through the Bank.
• Recommend procedures changes as necessary to the business and operations units.
• Regular reporting to ERMC and management on BSA/AML statistics, SAR filings and updates to remediation of any BSA/AML/OFAC audit and/or regulatory findings.
• Establish and maintain appropriate AML/SAR investigation, review and reporting processes that promote consistent decisions; adequate investigation and research; and complete and detailed documentation.
• Develop, enhance, implement and administer the BSA/AML/OFAC monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity.
• Responsible for the overall development and deployment of appropriate training, updates, and oversight programs with respect to BSA/AML for all employees and the Board.
• Responsible for ensuring all required regulatory reporting is conducted in a timely, accurate, and compliant manner, including the filing of CTRs, SARs, as well as FinCEN 314(a) and 314(b) reporting, and Department of Treasury required annual reporting of Blocked OFAC funds.
• Provide assistance to business and support units in the interpretation of regulations and the Bank's policy and procedures and disseminate information on matters affecting compliance with related programs.
• Stay abreast of and analyze developing industry and compliance trends, scams or schemes, and changes to related laws and regulations. Advise Senior Management of emerging risks, new or amended laws, regulations, or agency guidance and recommend and implement changes and controls to mitigate those risks.
• Oversee the administration of the Verafin FRAML system to ensure that model validation and change management processes, maintenance, quality assurance, including testing and trouble-shooting, and access controls is handled effectively.
• Act as the primary liaison with regulators and auditors with respect to BSA/AML and OFAC examinations and audits and oversee remediation of identified issues.
• Lead the strategic planning process for the BSA/AML/OFAC function in a manner to support the corporate strategic objectives and plans.
• Prepare a budget and monitor variances.
• Perform or oversee supervision of BSA/AML/OFAC management and staff. This includes hiring, training, personnel development, performance appraisals and annual compensation reviews.

QUALIFICATIONS:

• Bachelor's Degree with studies in Accounting/Auditing, Banking, Business Administration, Criminal Justice, Finance, Forensics or Law, or other related area of study, required.
• Ten years of experience in BSA/AML/OFAC compliance at a financial institution or a regulatory agency, with recent work or examination experience at a financial institution with assets greater than $10 billion, preferred.
• Certified Regulatory Compliance Manager, Certified Anti-Money Laundering Specialist, or equivalent current professional or regulatory certification, preferred.
• General knowledge and understanding of bank deposit operations, lending activities and other related consumer banking and compliance functions.
• Strong interpersonal, communication (written and verbal), and organizational skills with the ability to work independently, as well as, collaboratively within a team environment.
• Ability to interact effectively with all levels of management, legal counsel, law enforcement, regulators, and examiners while maintaining strict confidentiality.
• Strong decision making, analytical and investigative abilities with attention to detail and accuracy.
• Proficient manager and leadership skills, including those pertaining to selection, coaching, performance appraisal, compensation review and conflict resolution.
• High degree of initiative, and dependability. Ability to work on multiple, concurrent projects. Demonstrated project management skills, preferred.
• Strong organization skills, ability to learn quickly, and accuracy and timeliness in completing tasks.
• Knowledge of BSA software systems; expertise with Verafin's FRAML system, preferred.
• Proficient in Microsoft Office suite (Work, Excel, PowerPoint) and SharePoint.
• Ability to work as part of a team as well as independently and with people of diverse backgrounds.
• Able to accept and facilitate change, whether indicated by corporate needs, market or regulatory requirements.
• Washington State drivers license and auto insurance. Position involves limited travel.

MENTAL AND PHYSICAL CONSIDERATIONS:

• Willing and able to travel occasionally as needed.
• Operation of a Personal Computer and viewing information on a monitor.
• Must be able to sit for many hours each day.
• Must be able to communicate via telephone and possess dexterity to include filing document, reaching and bending.
• May be required to stand for extended periods of time.
• Ability to lift or carry up to 20 pounds
• Ability to speak English and express ideas and have difficult conversation in person and over the telephone
• Ability to listen and comprehend speech.
• Ability to problem solve, make decisions, interpret data and information, read, write and organize information in an orderly manner.

WORK ENVIRONMENT:

• Normal business office environment.
• Ability to sit in artificial light for extended periods of time

This Position Description may not be limited to the Functions and Requirements as outlined, now or in the future. For example, changes in corporate needs, position demands, or individual performance may result in changes to the Functions or Requirements of this position.

Area: