BSA Specialist

BSA Specialist

Department: Compliance 

Job Summary

The Bank Secrecy Act (BSA) Specialist supports the organization's BSA/Anti-Money Laundering (AML) and Office of Foreign Assets Control (OFAC) compliance program. This role monitors transactions, investigates unusual activity, prepares regulatory filings, and helps ensure the organization meets federal reporting and recordkeeping requirements. The BSA Specialist works closely with operations, lending, and branch staff to identify and mitigate financial crime risk, and serves as a knowledgeable resource on BSA/AML policies and procedures.

Duties and Responsibilities

• Review and investigate alerts generated by transaction monitoring systems to identify suspicious or unusual activity.
• Prepare, review, and file Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) accurately and within regulatory deadlines.
• Conduct Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) reviews on new and existing customers, including high-risk accounts.
• Perform OFAC screening and resolve potential matches in accordance with policy.
• Monitor and review exemptions, monetary instrument logs, wire transfers, and other reportable activity.
• Maintain thorough documentation and case files to support investigations and filing decisions.
• Assist with the periodic BSA/AML risk assessment and the development and updating of related policies and procedures.
• Support internal testing, independent audits, and regulatory examinations by gathering data and responding to requests.
• Respond to law enforcement inquiries and subpoenas, including 314(a) requests, under the direction of the BSA Officer.
• Provide BSA/AML guidance and training to employees and help identify compliance gaps or process improvements.
• Stay current on changes in BSA/AML laws, regulations, and industry trends.
• Maintain the confidentiality of sensitive information, including the existence of SARs.
• Perform other duties as assigned.

Education and Experience

• Bachelor's degree in business, finance, criminal justice, or a related field, or equivalent work experience.
• Two or more years of experience in BSA/AML, fraud, compliance, or a related financial services role.

Knowledge, Skills, and Abilities

• Working knowledge of the Bank Secrecy Act, USA PATRIOT Act, FinCEN regulations, and OFAC requirements.
• Experience with transaction monitoring, case management, and screening software.
• Strong analytical and investigative skills with excellent attention to detail.
• Clear written communication skills, including the ability to write concise, well-supported SAR narratives.
• Ability to manage multiple priorities and meet strict regulatory deadlines.
• Sound judgment, integrity, and the ability to handle confidential information discreetly.
• Proficiency in Microsoft Office, especially Excel.

Preferred Qualifications

• Certification such as CAMS (Certified Anti-Money Laundering Specialist) or CFCS.