BSA Officer

Join our dynamic team as a BSA Officer and play a vital role in safeguarding our financial institution by ensuring full compliance with all relevant regulations related to financial crimes prevention. This is an exciting opportunity for a detail-oriented professional to lead our Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) compliance programs. You will be instrumental in maintaining the integrity of our operations while supporting our commitment to a secure and compliant banking environment.

BSA/AML Program Administration

• Manage and maintain the Bank's BSA/AML and OFAC compliance programs in accordance with regulatory requirements.
• Monitor the Bank's performance under BSA laws and provide regular reporting to senior management and the Board of Directors.
• Develop, implement, and update BSA/AML policies, procedures, and internal controls to reflect regulatory changes and emerging risks.
• Conduct and document the annual BSA/AML risk assessment.
• Serve as the primary liaison with regulators and external auditors during examinations and audits.
• Coordinate corrective action and remediation efforts resulting from audits or regulatory findings.

Suspicious Activity Monitoring & Investigations

• Oversee the monitoring, investigation, and resolution of alerts generated by BSA/AML monitoring software (e.g., Verafin or similar systems).
• Conduct detailed research and analysis of customer transactions, behaviors, and account activity to identify unusual or suspicious activity.
• Ensure timely and accurate filing of Suspicious Activity Reports (SARs) and maintain appropriate supporting documentation.
• Maintain thorough case documentation, ensuring investigations meet regulatory standards and internal timelines.
• Escalate significant issues, trends, or risks to executive management as appropriate.

Currency Transaction Reporting (CTR) Administration

• Oversee the end-to-end Currency Transaction Report (CTR) process, ensuring accurate and timely filing.
• Conduct and document annual CTR exemption reviews to ensure compliance with regulatory requirements.
• Provide guidance and support to branch personnel regarding CTR completion and reporting requirements.
• Monitor CTR reporting trends and identify opportunities for improved accuracy and efficiency.

Quality Assurance & Internal Monitoring

• Perform ongoing quality assurance and quality control reviews of BSA/AML processes, investigations, and reporting.
• Ensure actual practices align with established policies, procedures, and regulatory expectations.
• Identify process gaps or control weaknesses and implement enhancements to strengthen compliance efforts.
• Prepare reports summarizing monitoring results, trends, and identified risks.

Training & Regulatory Awareness

• Develop and deliver BSA/AML and OFAC training for all employees on at least an annual basis.
• Provide targeted training to higher-risk departments, including retail, lending, and operations.
• Stay current on regulatory changes, emerging financial crime trends, and industry best practices.
• Communicate regulatory updates and procedural changes to appropriate stakeholders.

Collaboration & Risk Management

• Collaborate with internal departments to gather documentation and information necessary to support investigations and compliance efforts.
• Partner with Fraud, Compliance, Retail, and Lending teams to mitigate financial crime risks.
• Assist in maintaining strong internal controls designed to detect and prevent money laundering, terrorist financing, and other illicit activities.
• Support enterprise-wide risk management initiatives related to financial crimes compliance.

Other Duties:

• Participates in internal/external training as appropriate.
• Participates in community involvement/bank activities as appropriate.
• Perform all other duties as assigned or requested.

• Associate degree in Accounting, Finance, or similar designation and/or three to five years equivalent work experience in a similar position required
• Previous experience in banking or financial institution setting and/or compliance required
• Detailed knowledge of regulatory/compliance laws that govern the banking industry.
• Strong working knowledge of Microsoft Office including but not limited to Word and Excel and advanced computer/keyboarding/typing skills
• Demonstrated problem solving skills with the ability to make sound business decisions
• Analytical mindset with a strong attention to detail as well as the ability to work efficiently and accurately with minimal supervision
• Flexibility with the ability to adapt to an ever-changing work environment.
• Strong organization skills, including the ability to prioritize and remain calm while working in a fast paced/deadline driven environment
• Ability to maintain confidential client information
• Ability to read, write, understand and speak English clearly
• Ability to represent the organization in a professional, positive manner

Preferred Qualifications:

• Bachelor's degree in finance, Accounting, Business or similar discipline and/or 2-5 years related work experience in banking, security or related field.
• Five to seven years' experience in a similar role involving work with various banking compliance regulations
• Familiarity with financial products and services

Lake Ridge Bank values a diverse workforce and is an Affirmative Action/Equal Opportunity Employer.

Consistent with Lake Ridge Bank's commitment to employ and advance qualified individuals with disabilities, Lake Ridge Bank provides reasonable accommodation to apply for or perform a job. Some examples of reasonable accommodation include alternate methods to apply, providing documents in an alternate format, altering work procedures, specialized equipment or use of an interpreter. If an individual needs reasonable accommodations to apply or perform a job here at Lake Ridge Bank, please contact Human Resources at (608) 849-2700 or email us.