AVP, Bank Secrecy Act Manager

Atlantic Community Bankers Bank ( Acbb ) - Glastonbury, CT

Full-time - Senior

Hybrid - Glastonbury, CT

Credit Intermediation and Related Activities

About the position

The AVP, BSA Manager at Atlantic Community Bankers Bank is responsible for managing risk and ensuring compliance with Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations. This role involves overseeing the BSA team, conducting thorough investigations related to potential money laundering and fraud, and ensuring adherence to compliance standards. The position also includes developing training materials, managing transaction monitoring systems, and contributing to the overall improvement of the BSA/AML program.

Responsibilities

• Manage the BSA staff and support their growth and development.
• Perform thorough investigations related to potential money laundering, terrorist financing, and fraud.
• Conduct enhanced due diligence on customer accounts and review alerts for suspicious activity.
• Act as the Quality Control person for SAR reviews and filing with FinCEN.
• Administer the automated transaction monitoring system and oversee the alert process.
• Create reports for presentations to management and committees.
• Oversee the Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) processes.
• Manage the completion of annual CDD Questionnaires from Bank Clients.
• Identify areas for improvement in the BSA/AML program and present recommendations.
• Contribute to compliance training materials for staff.
• Assist the BSA Officer with third-party interactions including auditors and regulators.
• Monitor new laws and regulations affecting the BSA/AML program.

Requirements

• Bachelor's degree in Accounting, Finance, Criminal Justice, or a related field.
• 7 years of experience in a regulated entity with a focus on BSA/AML compliance.
• CAMS or similar Anti-Money Laundering certification is preferred.
• Strong knowledge of anti-money laundering practices and laws, including OFAC, CDD, EDD, and CIP regulations.
• Prior supervisory experience and experience interacting with regulators and auditors.
• Proficient in Microsoft Excel, including pivot tables and vlookup.

Nice-to-haves

• Familiarity with compliance regulations governing the BSA/AML, USA PATRIOT Act, and KYC guidelines.
• Experience developing and fine-tuning a BSA/AML program for efficiency and compliance.

Benefits

• Competitive compensation package
• Comprehensive benefits package
• Long and short-term disability coverage
• 401(K) with employer match
• Paid Time Off (PTO)
• Tuition Reimbursement
• Employee Assistance Program
• Hybrid work model
• Performance Bonus Opportunities
• Parental Leave
• Opportunities for career growth and advancement