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Risk Manager AML Officer - Chicago

The Federal Savings Bank, one of INC 5000 fastest growing private companies in America, is on the hunt for a highly sought after, industrious BSA/AML Officer. The BSA/AML Officer plays a critical role at the Bank and is  responsible for developing, implementing, and overseeing all aspects of the Bank Secrecy Act Compliance Program from our headquarters office in Chicago, IL.

Overview:
An all-star BSA/AML Officer performs well beyond what's expected. Tasked with overseeing all aspects of the bank's business operations impacting the BSA program, the BSA/AML Officer must stay abreast of all applicable policies, procedures, and government regulations to ensure the Bank remains compliant with regulatory requirements. As an essential member of the Compliance Committee team, the BSA/AML Officer must be highly proficient with interpreting data and delivering detailed reports to the Board of Directors without batting an eye. Lastly, the BSA/AML Officer must demonstrate outstanding initiative as a project manager capable of both leading  or collaborating with a team.

Essential Duties & Responsibilities: 

  • To implement and oversee a BSA/AML Program consistent with regulatory expectations, industry strong practice and maintaining the bank’s BSA and OFAC risk assessments. Program elements will be consistent with regulatory expectations of the basic BSA/AML pillars:
    • Ensure compliance with a BSA/AML training program  
    • Develop and oversee effective processes for customer due diligence, customer risk rating, and enhanced due diligence for higher risk customers.   
    • Implement/improve strong processes for transaction monitoring and investigate of potentially suspicious activity. The BSA Officer will ensure that transaction monitoring is risk-based and adequately covers higher-risk products, customers, and regions identified in the Bank’s AML risk assessment.
    • Maintain compliance with reporting requirements, including but not limited to Suspicious Activity Reporting and Currency Transaction Report    
  • Oversight of systems and utilization of necessary Fraud Prevention and BSA/AML tools. 
  • Work with internal and external auditors and regulatory examiners by providing full cooperation and timely delivery of requested documentation and information. 
  • Additionally, the BSA/AML Officer is accountable to the Governance Committee (sub- committee of the Board) for compliance with the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering, OFAC regulations and implementing associated regulations and guidance. 

Requirements:

  • Candidate will have a minimum of 3+ years of experience as a BSA/AML Officer, Compliance Officer, Risk Manager or similar function in a financial institution.
  • Bachelor’s degree in a relevant discipline or commensurate military experience strongly preferred
  • Certified Anti-Money Laundering Specialist (CAMS) certification required
  • Knowledge of FFIEC Examination Manual relative to AML, KYC, CIP, etc. 
  • Knowledge of FRB Regulations (A-YY), US Patriot Act and recent Acts
  • Ability to work on a variety of compliance and business issues within pressure and time-sensitive periods
  • Ability to compile quarterly BSA/AML reports and present to management and Board of Directors.
  • Excellent written and verbal communication skills to conduct training, develop policies and procedures and respond to inquiries and problems
  • Ability to function with minimum supervision
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