Benefits:
- 401(k) matching
- Dental insurance
- Health insurance
- Opportunity for advancement
- Paid time off
- Training & development
- Vision insurance
Job Summary
The Bank Secrecy Act (BSA) Specialist is responsible for ensuring compliance with the Bank Secrecy Act, USA PATRIOT Act, and other anti-money laundering (AML) laws and regulations. This role supports the financial institution’s efforts to detect and prevent illicit financial activity, including money laundering and terrorist financing, by analyzing transactions, conducting investigations, and preparing required regulatory reports such as Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs)Further, this position will function as a resource to assist Bank personnel in resolving compliance related questions/issues and will recommend solutions to compliance/procedural issues noted during monitoring reviews.
Key Responsibilities
Key Responsibilities
- Monitor, review, and analyze transactions to detect potential suspicious activity..
- Prepare and file Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) in accordance with regulatory requirements.
- Conduct enhanced due diligence (EDD) on high-risk accounts and customers.
- Assist in the ongoing development and maintenance of the BSA/AML/OFAC compliance program.
- Review and update customer risk ratings and identify unusual account activity.
- Perform periodic reviews and risk assessments of customers, products, and services.
- Stay up to date on regulatory changes and industry best practices related to BSA/AML/OFAC.
- Support audits and regulatory exams, providing documentation and responding to examiner inquiries.
- Maintain proper documentation for all reviews, investigations, and filings.
- Participate in training sessions and help ensure staff are educated on BSA/AML compliance responsibilities.
- Work closely with internal departments, including compliance, legal, and audit teams, to address high-risk concerns. Collaborate with law enforcement agencies when necessary to share findings.
- Maintain accurate, detailed records of investigations, actions taken, and compliance activities.
- Conduct CIP review and validation.
- Monitor cash transactions and complete the filing of Currency Transaction Reports as needed.
- Complete and review checklists associated with various product lines.
Qualifications
- High school diploma or general education degree (GED); and two years of banking experience, preferably within BSA or Compliance
- Certification in BSA/AML (e.g., CAMS – Certified Anti-Money Laundering Specialist) is preferred.
Skills and Competencies
- Complete in-house training based on requirements set up for this position
- Proven ability to provide an Excellent Customer Experience
- Ability to work with minimal supervision while performing duties.
- Advanced experience with Microsoft Excel
- Effective oral, written and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, interpret documents, understand procedures, write reports and correspondence, speak clearly to customers and employees.
- Ability to maintain confidentiality at all times
Disclaimer
This job description is intended to describe the general nature and level of work being
performed. It is not intended to be an exhaustive list of all responsibilities, duties, or skills
required. Management reserves the right to revise the job description or require that other
tasks be performed as needed.
This is a remote position.
We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.
Herring Bank
Herring Bank was founded in 1899, by Colonel C.T. Herring. Colonel Herring lived in Vernon, TX and saw a need for a bank. The cattleman would drive their cattle from Oklahoma through Vernon to Fort Worth to sell their cattle. When the cattleman sold their cattle and they went back to Oklahoma they were loaded with cash. Oklahoma was know as the badlands for a good reason, when the cattleman crossed in to Oklahoma they could lose their life and it was a sure bet that they would lose their money. With a bank in Vernon, TX, Herring Bank, they could deposit their funds and when they crossed into Oklahoma, the badlands, they would not lose their money, so the thieves had no reason to rob them
At Herring Bank we “Build Relationships for a Lifetime” come join us at our family owned bank.
MEMBER FDIC – EQUAL OPPORTUNITY EMPLOYER
Company Website: www.herringbank.com
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