BSA Compliance Manager - Herndon, VA
Location :
Herndon, VA
Job Type :
Direct
Hours :
Full Time
Required Years of Experience :
8+
Required Education :
Bachelor's Degree Required
Travel :
No
Relocation :
No
Job Description :
Summary:
The Bank Secrecy Act (BSA) Officer is responsible for coordinating the development,
implementation and administration of all aspects of the corporate-wide Bank Secrecy Act (BSA)
Compliance Program and Fraud Management Program. This position monitors compliance with
state and federal Bank Secrecy Act (BSA) , USA PATRIOT Act, and Anti-Money Laundering
(AML).
Responsibilities:
○ Lead the evaluation, selection, and implementation of new technologies to
enhance the efficiency and effectiveness of the BSA/AML program. This includes
transaction monitoring systems, fraud monitoring systems, KYC/CDD solutions,
and case management platforms across all divisions.
○ Collaborate with IT and data security teams to ensure seamless integration of
BSA technologies with existing systems and infrastructure.
○ Develop and maintain a deep understanding of emerging technologies in the
RegTech space and assess their potential applications for improving BSA
compliance processes.
○ Optimize the use of existing compliance technologies, identifying opportunities to
automate tasks, improve data analysis, and enhance reporting capabilities.
Risk Assessment and Mitigation:
○ Leverage technology solutions to conduct comprehensive risk assessments,
analyzing transaction data, customer profiles, and other relevant information to
identify potential money laundering and terrorist financing risks.
○ Utilize data analytics and reporting tools to monitor key risk indicators and identify
trends or anomalies that may require further investigation.
○ Develop and implement risk-based mitigation strategies, utilizing technology to
automate controls and enhance monitoring efforts.
○ Maintain and enhance a comprehensive risk based BSA/AML compliance
program that meets all applicable federal and state regulations, with a strong
emphasis on technology integration.
○ Regularly review and update policies, procedures, and internal controls to ensure
ongoing effectiveness and alignment with evolving regulatory expectations and
technological advancements.
○ Oversee the monitoring of customer transactions using automated systems and
manual processes to identify and report suspicious activity.
○ Conduct thorough investigations of potentially suspicious activity, utilizing
technology for data analysis and evidence gathering.
○ Ensure accurate and detailed record-keeping of all investigations and SAR
filings, leveraging technology for efficient data management.
Collaboration and Training:
○ Work closely with other departments, such as Business Banking, Retail Banking,
Lending, IT, and Risk Management to ensure collaboration for effective
implementation of the BSA/AML program and seamless integration of compliance
technology.
○ Liaise with regulatory agencies, law enforcement, and financial institutions as
needed.
○ Stay abreast of regulatory changes and industry best practices, particularly
regarding the use of technology in compliance.
○ Develop and deliver BSA/AML training programs for employees at all levels,
incorporating technology demonstrations and practical exercises.
Qualifications
○ Bachelor's degree in a relevant field (e.g., finance, accounting, information
technology, law).
○ Minimum of 8+ years of experience in BSA/AML compliance, with a
demonstrated focus on technology implementation and optimization.
○ Experience in the fintech industry is strongly preferred.
○ Certified Anti-Money Laundering Specialist (CAMS) certification is a plus.
Required Qualifications :
