PURPOSE

The BSA (Bank Secrecy Act) Officer plays a crucial role in ensuring the bank's compliance with BSA/AML (Anti-Money Laundering) regulations, preventing fraudulent activities, and managing the Red Flags Program to detect identity theft. This position involves overseeing regulatory compliance, fraud prevention, risk management, and responding to legal requests, while collaborating closely with internal departments and external regulators.

EDUCATION AND EXPERIENCE

Education

• High School diploma or General Education Degree (GED) required.
• Bachelor’s degree preferred.
• Community Banking Anti-Money Laundering Professional (CBAP) certification preferred.

Experience

• Minimum of three years of experience in BSA compliance, fraud detection, and subpoena handling in the financial services industry.
• Strong knowledge of BSA/AML regulations, Red Flags Rule, and fraud detection techniques.
• Excellent analytical skills for interpreting complex financial data and identifying compliance risks.
• Strong communication and interpersonal skills to engage with internal teams, regulators, and law enforcement.
• High attention to detail, commitment to accuracy, and the ability to prioritize tasks effectively.
• Experience with BSA/AML monitoring software and data analysis tools is essential.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

BSA/AML Compliance

• Develop, implement, and maintain the bank’s BSA/AML compliance program.
• Conduct periodic reviews and updates of BSA policies, procedures, and internal controls to ensure alignment with current regulatory requirements.
• Monitor transaction activity for potential money laundering, terrorist financing, or other suspicious activities.
• Investigate and report suspicious activity through Suspicious Activity Reports (SARs).
• Stay informed of changes in BSA/AML regulations and conduct ongoing training for staff to ensure compliance.

Red Flags Program (Identity Theft Prevention)

• Serve as the Red Flags Officer, responsible for developing and maintaining the bank’s identity theft prevention program.
• Identify patterns that indicate potential identity theft and implement preventative measures.
• Investigate and respond to any reported incidents of identity theft or suspicious account activity.
• Provide training to staff on Red Flags compliance and update the program as necessary based on regulatory changes.

Fraud Detection and Prevention

• Utilize data analysis to identify patterns indicative of fraudulent activity, such as account takeovers, identity theft, and payment fraud.
• Investigate suspected instances of fraud and collaborate with law enforcement and other financial institutions to mitigate risks.
• Maintain and update fraud prevention protocols, including transaction monitoring, authentication protocols, and risk-based controls.

Subpoena Handling

• Act as the primary point of contact for all subpoena requests received by the bank.
• Review and analyze subpoena documents, coordinating with internal and external stakeholders to gather necessary information.
• Ensure timely and accurate responses to subpoenas while adhering to regulatory and legal requirements.

Documentation and Reporting

• Maintain detailed records of BSA/AML compliance activities, fraud investigations, Red Flags incidents, and subpoena responses.
• Prepare and present reports summarizing key findings, trends, and recommendations for senior management and regulatory authorities.
• Support audits and regulatory exams by providing necessary documentation and insights into the compliance program.

Risk Assessment and Mitigation

• Continuously assess the bank’s exposure to financial crime and identity theft risks, identifying areas for improvement.
• Develop and implement risk mitigation strategies, including enhanced due diligence procedures and transaction monitoring protocols.
• Conduct periodic risk assessments and make adjustments to the compliance and Red Flags programs as needed.

KNOWLEDGE, SKILLS, AND ABILITIES

• Strong knowledge of BSA/AML regulations, Red Flags Rule, and related compliance programs.
• Ability to analyze and interpret financial data, regulatory changes, and legal documentation.
• Strong organizational, time management, and problem-solving skills.
• Proficiency in BSA/AML monitoring software and fraud detection tools.
• Excellent communication and presentation skills, both written and verbal.
• Ability to work independently, prioritize tasks, and make informed decisions in a fast-paced environment.

WORKING CONDITIONS

• Primarily an indoor office environment with frequent interaction with employees, customers, and regulators.
• Regular meetings with internal teams for compliance planning, training, and support.
• Standard working hours, Monday – Friday, 8:00 AM – 4:30 PM, with occasional travel to branch locations, customer sites, and industry conferences.
• Travel may also be required for training, community events, and continuing education opportunities.

RELATIONSHIPS

Reports to: Chief Risk Officer

EEO/AA/M/F/VETERANS/DISABLED
Send resume to hr@bankofzachary.com.

Bank of Zachary is looking for a highly motivated individual to fill a Full-Time Universal Banker position. This position offers an exciting opportunity for candidates with prior teller, cash handling, customers service, or retail sales experience who are interested in beginning a career with opportunities for growth and development. Universal Bankers perform all Teller duties along with providing support in many aspects of retail with a broad knowledge of the bank’s products and services, along with account opening. Must be customer focused with ability to multi-task and perform as a team player. Stable work history and high school diploma or GED required. 1-2 years prior/current banking, sales, cash handling, and/or customer service experience required. EEO/AA/M/F/VETERAN/DISABLED. Send all resumes to hr@bankofzachary.com.

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