BSA/ AML and OFAC Quality Control Specialist

An essential component of the BSA/AML quality control process is conducting an analysis of documentation tied to completed BSA/AML reviews to ensure that the review and documentation support the disposition of the investigation or analysis as it relates to BSA/AML and OFAC regulations. 

The BSA Quality Control Specialist assists the BSA Quality Control Officer with the overall performance, maintenance, and expansion of the Bank’s BSA/AML and OFAC Quality Control Program. The QC Specialist will identify, document, and report findings to the BSA QC Officer to ensure compliance with internal policies and procedures, BSA/AML & OFAC laws, regulations, and regulatory expectations. 

The position requires sampling and testing various components of the BSA/AML program, including but not limited to currency transaction reports (CTR), suspicious activity reports (SAR), to ensure that reports were completed accurately and filed per BSA/AML regulation requirements. The purpose of sampling information is to evaluate the work product conducted by BSA/AML staff as it relates to transaction monitoring, high risk customer reviews, BSA/AML cases, OFAC alerts, 314a, 314b, suspicious activity reports, currency transaction reports, etc. to ensure quality and accuracy. 

Quality control reviews may include a review of policies, procedures and processes for the BSA department to help ensure that the bank is complying with BSA/AML and OFAC regulations thereby mitigating and managing the risks associated with money laundering and terrorist financing. 

• Understand and ensure compliance with the bank’s BSA/AML & OFAC policy and procedures as directed by the FFIEC BSA/AML manual, Office of Foreign Assets Control regulations, including, but not limited to, FinCEN advisories.
• As described in the BSA QC program, conduct quality assurance sampling to evaluate the work product for quality, accuracy, and sound decision-making.
• Perform sampling to evaluate the work product for quality, accuracy, and sound decision-making for BSA/AML transaction monitoring alerts, high risk customer alerts, BSA/AML cases, OFAC alerts, 314a, 314b, suspicious activity reports, currency transaction reports, etc.  
• Provide feedback and communicate effectively on the results of QC reviews, maintain documentation to support the QC analysis performed, and prepare QC reports on results of analysis performed.
• Escalate and report all concerns or findings on the results of QC testing clearly and objectively.
• Provide recommendations to enhance the BSA/AML & OFAC policy and procedures based on QC reviews to improve quality and consistency.
• Adhere to all designated time frames, manage workflow to the specified deadlines, and complete responsibilities satisfactorily.
• Participate in team meetings.
• Assist BSA Management during exams and audits as well as remediation of findings.
• Perform other tasks and/or special projects as assigned.
• Promote bank culture and possess an outstanding positive attitude.
• Compliance Training:  Participate in all required compliance training, including Bank Secrecy Act/anti-money laundering training, as well as internal and external training programs, online training, meetings, and seminars/conferences, etc.
• Other Duties: This job description is not designed to cover or contain a comprehensive list of activities, duties or responsibilities that are required of the employee. Other duties, responsibilities and activities may change or be assigned at any time with or without notice.

• Education: Bachelor's degree in business, finance, accounting, criminal justice, or equivalent required.
• Experience: 5+ years BSA/AML and OFAC experience.
• Required Skills:
  • Sound knowledge of regulations as applied to KYC, CIP, Anti-Money Laundering, and the Bank Secrecy Act requirements with an emphasis on transaction monitoring
  • Excellent analytical skills with strong attention to detail and documentation accuracy
  • Ability to evaluate control effectiveness and communicate findings clearly
  • Experience leading a team and managing/leading projects
  • Possess strong skills in Word, Excel, and PowerPoint
  • Ability to meet deadlines and adapt to changing condition.
• Preferred Skills:
  • CAMS, CBAP, or CAFP certification preferred
  • Experience with AML software such as Verafin, Actimize, Abrigo, or similar
  • Background in QC, internal audit, or compliance testing within financial services.

• Must be able to pass a criminal background & credit check.

FLSA: Exempt

Supervisory Responsibility

This position does not manage employees.

Working Environment and Physical Demands

This job operates in a professional office environment within United footprint. The role routinely uses standard office equipment such as computers, phones, copy machines, and printers.

Physical requirements: sedentary, climbing, standing, stooping, and typing

Position requires schedule flexibility to work evenings and weekends as needed.

This position may require up to 5% travel.

Position Type

This is a full-time position.

Other

We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity and/or expression, status as a veteran, and basis of disability or any other federal, state or local protected class.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.