BSA and Deposit Compliance Officer, SVP

JOB TITLE: Bank Secrecy Act and Deposit Compliance Officer, SVP

LOCATION: Downtown Fort Worth

REPORTS TO: Chief Financial Officer

DEPARTMENT: Compliance

BASIC FUNCTION: Responsible for leading, implementing, and monitoring all aspects of the Bank's deposit and BSA compliance program, including providing strategic direction designed to support organizational growth. The BSA and Deposit Compliance Officer

1. is responsible for the program to ensure that the Bank is compliant with all federal and state banking regulations governing the products, services and operations of the Bank;
2. recommends changes to policies, procedures, and training to implement regulatory changes;
3. assesses compliance risk and designs and performs reviews to augment the outsourced compliance audit plan;
4. directs compliance issues to appropriate resources for investigation and resolution; and
5. addresses compliance questions and concerns within the Bank. The BSA and Deposit Compliance Officer is a key leader on the Management Team.

GENERAL MANAGEMENT RESPONSIBILITIES:

• Manage, train and support the deposit compliance and BSA staff ensuring that assigned responsibilities are completed properly and within established time frames.
• Maintain expertise on all relevant federal and state banking and regulatory matters, including participation in compliance-related trade associations, and ongoing review of relevant trade publications, independent research into regulatory rulings and interpretations and regulatory and legislative proposals.
• Monitors changes to applicable federal and state banking regulations, laws and policies and advises management and Bank employees in advance of emerging regulatory and compliance issues.
• Consults and guides the Bank in the establishment and implementation of appropriate processes, procedures and controls designed to ensure compliance with applicable federal and state banking laws and regulations and to ensure appropriate safeguards are in place to prevent, detect, and make corrections to any compliance failures and to mitigate risks.
• Ensures that products and services and related activities provided by the Bank do not create a potential for UDAAP or regulatory violations.
• Serves as a liaison/contact for Texas Department of Banking, the Federal Reserve Board and the external independent reviews or audits of compliance areas.
• Collaborates with the Bank’s internal audit department to assess and determine the scope of the annual compliance audit plan. Establishes an internal compliance assessment schedule to augment the compliance audit plan. Monitors management’s corrective action plans that have been developed to cure any compliance or operational related findings.
• Prepare and present monthly reports to board of directors.

BSA RESPONSIBILIES:

• Maintain responsibility for the Bank’s BSA/AML/OFAC Compliance Program.
• Maintain extensive knowledge of existing and evolving BSA/AML/OFAC regulations, incorporating necessary changes into the Bank’s BSA/AML/OFAC program to address both current and future requirements.
• Review and investigate customer and account activity identified through BSA monitoring software, system reports and staff referrals for the identification of suspicious activity.
• Complete suspicious activity investigations and, when required, prepare and file initial and follow-up SARs in a timely manner.
• Schedule, manage, and prepare information for SAR Committee meetings on a semi-annual basis.
• Ensure that currency transaction reports are completed accurately and filed within required time periods.
• Monitor compliance with established CIP, EDD and CDD procedures.
• Ensure that periodic reviews are prepared on high-risk customers to identify any unusual or suspicious activity.
• Complete 314a information requests and, if necessary, complete follow-up reporting with FinCen.
• Manage and maintain participation in FinCen 314(b) information sharing program.
• Monitor compliance with established OFAC policies and procedures.
• Ensure any OFAC matches are handled in accordance with OFAC regulations.
• Manages, develops and presents annual BSA training sessions for the Board of Directors, management, and employees.

COMPLIANCE RESPONSIBILITIES:

• Monitors the consumer complaints program and coordination of responses.
• Reviews and approves advertising, brochures, website information, rate sheets, and any other marketing materials/initiatives to ensure compliance with applicable federal and state banking laws, regulations, and regulatory guidance.
• Reviews regulatory or policy required forms, notices, disclosures, etc., and manages the design/development or revision.
• Manages, develops and presents compliance training sessions for the Board of Directors, management, and employees.
• Prepares written reports summarizing the findings of the internal compliance assessments.
• Manages the tracking of all findings identified through exams, audits and self-identified matters and provides monthly status reports to the audit committee.
• Coordinates and participates in responses to exam and audit concerns and monitors corrective action of all related identified deficiencies and/or violations.
• Manages administration and compliance-related third-party vendor relationships.
• Monitors the performance of the systems used in compliance and related activities, taking appropriate steps to improve its effectiveness.
• As the primary Compliance Officer, work with the Bank Risk Officer and perform additional second line risk management functions as needed.

Job Specifications: Ideal candidate will have the following:

• Qualified candidates must have at least 5 years of experience working in the Bank Secrecy Act and Anti Money Laundering compliance function/department in a bank, with a minimum of 2 years’ experience with deposit compliance.
• Must have strong working knowledge of US banking regulations.
• Experience working with regulatory agencies.
• Proficiency interpreting and analyzing the impact of federal and state banking regulations.
• Strong organizational skills, attention to detail and the ability to oversee multiple projects with tight deadlines .
• Excellent oral and written communication skills with the ability to communicate to a technical and non-technical audience including executive management.
• Must have experience and desire to collaborate in identifying practices that will improve policies and operations for the betterment of the Bank and its customers.
• Proficient in analyzing data, reaching conclusions, and making relevant recommendations.
• Bachelor’s degree in business administration or equivalent banking or financial industry education preferred.
• Regulatory Compliance Manager Certification (CRCM) preferred.
• Experience with Fiserv Premier, AML Manager, and Verafin Software is a plus.

The above statements describe the general nature and level of work being performed. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of the position. Employees holding this position will be required to perform any other job-related duties as requested by management. All requirements are subject to possible modification to reasonably accommodate individuals with a disability.