This full-time position will report to the Compliance Officer. Employee is expected to adhere to and always exhibit the “Core Values” of First Port City Bank.
PRIMARY RESPONSIBILITIES:
1. Administer the Bank’s program of compliance with the Bank secrecy Act, regulations issued by the Office of Foreign Assets Control (OFAC) and all other related anti-money laundering (AML) and Counter-Terrorist Financing (CFT) laws and regulations and Identity Theft Red Flag program requirements.
2. Coordinate and develop programs to implement the Bank’s BSA/AML/CFT/OFAC compliance program.
3. Responsible for training staff, Management, and the Board of Directors on BSA/AML/CFT/OFAC compliance issues on at least an annual basis
4. Prepare, review and revise policies and procedures to ensure compliance with the BSA and other related Acts.
5. Report the status of the BSA/AML/OFAC/CFT program to the Audit Committee of the Board of Directors at least monthly.
6. Responsible for accurate completion and timely submission of all regulatory reports related to the BSA/AML/CFT/OFAC program including SAR and CTR filings.
7. Responsible for maintaining the Bank’s high-risk customer list and monitoring high-risk customers accordingly.
8. Responsible for periodic Customer Due Diligence (CDD) reviews on high-risk customers and maintaining comprehensive files for each high-risk customer based on the level of BSA/AML risk posed by that customer.
9. Monitor all high-risk customers including Marijuana Businesses, Personal Services Providers, Cash Intensive Businesses and non-governmental organizations.
10. Complete an annual BSA risk assessment and recommend modifications to the Bank’s risk based BSA/AML/OFAC/CFT program to the Audit Committee of the Board of Directors.
11. Ensure the Bank’s risk based BSA/AML/OFAC/CFT program is managed in accordance with the direction of the Chairman of the Audit Committee.
12. Administer the Bank’s BSA/AML/OFAC/CFT software system.
13. Serve as the liaison between Auditors, Examiners and Management regarding the BSA Program.
14. Support the Compliance Officer in all other areas of regulatory compliance.
15. Serve as Compliance Officer in the absence of the Compliance Officer.
Education
· Bachelor’s degree in related field preferred.
· Completed at least 80 hours of BSA/AML/CFT/OFAC training.
Experience
· Minimum 5 years managing a BSA/AML/CFT/OFAC program in a financial institution or similar business preferred. Experience in management can be substituted with experience auditing BSA/AML/CFT/OFAC compliance programs.
· Knowledge of banking processes, products and regulations.
