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The Role
POSITION SUMMARY
Responsible for assisting the BSA/AML Compliance Officer with the daily monitoring, assessment, and maintenance of the BSA Department’s AML processes and procedures and ensures timely review and submission of Suspicious Activity Reports (SARs), Currency Transaction Reports (CTRs) and other cases and alerts. This position directly manages a group of BSA AML analysts.
ESSENTIAL REQUIREMENTS
- Works directly with the BSA/AML Compliance Officer to oversee the Bank’s efforts to comply with BSA and AML regulatory filings regarding customer activity, including CIP, OFAC, CTRs and SARs.
- Leads, directs and supervises assigned staff and exercises the usual authority of a manager concerning staffing, performance appraisals, promotions, salary recommendations, and terminations.
- Directly supervises the work product/process to develop, coach and manage the BSA/AML team. Provides daily guidance, expertise and mentoring to the team.
- Provides key information as subject matter expert for BSA AML projects and assists business units with BSA AML compliance needs as assigned by the BSA/AML Compliance Officer,
- Performs daily review of work completed by the analysts, as well as open cases and alerts progress, identifying instances that may require immediate attention to comply with deadlines and regulatory requirements.
- Supports the monitoring, assessment and maintenance of automated and manual case management systems.
- Acts as liaison with law enforcement agencies who may be investigating suspected criminal activity defined within the BSA regulations.
- Conducts appropriate investigations on high profile subjects and performs analysis as prescribed by the BSA AML Officer.
- Reviews High Risk customers to determine if they are within the banks risk appetite and makes recommendation of when to exit customers when they exceed the banks risk appetite.
- Assists the BSA AML Compliance Officer in related audits and exams: document request, meetings, and developing/implementing remedial action plans in response to findings.
- Assists BSA AML Compliance Officer in maintaining and updating written policies and operational procedures as needed to reflect changes in BSA and other applicable laws.
- Stays abreast of and analyzes developing industry and compliance trends, scams or schemes, and changes to laws and regulations pertaining to BSA/AML/OFAC.
- Regular and predictable attendance is an essential requirement of the position.
- Responsible for the completion of all compliance training related to the position and maintains annual CPE requirement to maintain professional certifications
- Must understand all applicable laws and regulations that apply to the position and comply with the requirements.
NON-ESSENTIAL FUNCTIONS
Performs all other duties as assigned.
EXPERIENCE/SKILLS
- Five (5) or more years of experience in BSA/AML/OFAC compliance management preferred.
- Ten (10) or more years of experience in Financial Services preferred.
- Former managerial skills preferred.
- Verafin Case Management knowledge preferred.
- Strong knowledge of Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC) regulations.
- Strong PC skills--proficiency in Microsoft Word and Excel essential.
- Strong organizational, problem solving, audit and analytical skills.
- Ability to handle multiple tasks in a fast-paced environment.
- Ability to communicate effectively both verbally and in writing.
- Ability to protect the confidentiality/privacy of others as appropriate, as well as of company documents and records.
- Must have a high level of professionalism.
EDUCATION
Bachelor’s degree preferred.
CERTIFICATIONS
CAMS Certification preferred and/or CFE Certification Preferred.
TRAVEL REQUIREMENTS
Ability to travel to all locations as well as ability to travel over night, as needed for meetings, projects, seminars, etc.
PHYSICAL DEMANDS
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals to perform the essential functions.
While performing the duties of this job, the employee is required to sit, stand and walk; use hands and fingers to operate keyboard and other office equipment; reach with hands and arms; and talk or hear. The employee is occasionally required to stoop or kneel. The employee may occasionally lift and/or move up to 10 pounds.
EQUIPMENT
MS Office PC, fax, phone and standard office equipment.
Equal Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThis employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
1st Source Bank Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about 1st Source Bank and has not been reviewed or approved by 1st Source Bank.
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Healthcare Strength — Health insurance, prescription coverage, and full coverage for preventive care and certain screenings are described as available. Dental and vision coverage, telemedicine, maternity support programs, and tobacco cessation offerings add breadth to the health package.
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Retirement Support — A 401(k) plan is described as available with both Traditional and Roth savings options, alongside HSAs for eligible expenses. Life, accident, and disability protections are also described as part of the broader financial security offering.
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Wellbeing & Lifestyle Benefits — Wellness programs such as weight-loss support and other wellbeing initiatives are described as available, sometimes at no extra cost to eligible members. Financial wellness workshops and planning resources are also described as offered.
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The Company
What We Do
Founded in 1863 in South Bend, Indiana, 1st Source Bank has offered clients a convenient and friendly way to bank for over 155 years. At 1st Source, we listen to our clients, understand their needs and always keep their best interests in mind. 1st Source Bank remains the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. We operate banking centers across our region, boast 1st Source Bank Specialty Finance Group locations nationwide, as well as several Wealth Advisory Services locations and 1st Source Insurance offices. We deliver a comprehensive range of banking services along with highly personalized attention to our clients, both individuals and businesses. Our mission is to help our clients achieve security, build wealth and realize their dreams. Additionally, for over 155 years, 1st Source Bank has been giving back to our communities to actively help build good places to live, work and raise our families. This service to our community is one of our principal values and has defined who we are and how we do business. Member FDIC | Equal Housing Lender
