Anti-Money Laundering Specialist

Job Description

The primary responsibility of this role is to establish a strategic vision of the client’s Savings Bank's (TFSB) Anti-Money Laundering (AML) and Office of Foreign Asset Control (OFAC) programs.

• Oversee the implementation of AML and OFAC programs for TFSB's first and second lines of defense
• Participate in and support the development, enhancement, and implementation of the Compliance Management System (CMS)
• Ensure compliance with applicable local, state, and federal laws, rules, and regulations

What You'll Be Doing

• Strengthen and lead the development of BSA/AML program elements to support the growth of the bank
• Enhance controls to prevent and detect potential money laundering activity
• Implement client risk rating methodologies
• Manage 3rd party oversight
• Oversee Know Your Customer (KYC) programs
• Coordinate and monitor day-to-day BSA/AML compliance
• Manage all aspects of the BSA/AML compliance program, including compliance with BSA regulatory requirements
• Lead BSA/AML/OFAC risk assessments for new and enhanced products and services enterprise-wide
• Evaluate inherent risk and exposure
• Assess control environment and required control enhancements
• Ensure third-party service providers comply with BSA/AML and OFAC requirements
• Serve as the BSA/AML/OFAC SME on enterprise-wide programs and projects
• Provide day-to-day leadership to BSA/AML/OFAC team members
• Develop and conduct training for business lines on fraud and AML suspicious activity typologies
• Escalate identified risks to leadership, including the Chief Compliance Officer and Board of Directors
• Stay current on regulatory expectations related to the Bank Secrecy Act and other applicable regulations
• Collaborate with TFSB and affiliate fraud departments to ensure consistent compliance with BSA requirements

Requirements

What You Bring

• Four-Year College Degree (BA or BS)
• Relevant work experience in a similar field and/or industry
• Experience with BSA/AML financial crimes investigations including:
• Money laundering
• Identity theft
• Terrorist financing
• Red flags for transaction activities
• Fraud
• Experience providing leadership, development, and strategic direction as a team leader
• Experience interacting successfully with state and federal banking regulators

Added Bonus If You Have

• Advanced Degree
• Professional certifications such as:
• ACAMS (Association of Certified Anti-Money Laundering Specialists)
• ACFE (Association of Certified Fraud Examiners)
• ACFCS (Association of Certified Financial Crime Specialists)
• Certified Regulatory Compliance Manager
• Experience with regulatory compliance processes related to:
• Bank Secrecy Act / USA Patriot Act
• Office of Foreign Assets Control (OFAC)
• Program development and maintenance