BSA Risk Manager (Full Time) - Amarillo, Plano or Sugar Land

Prosperity Bank - Sugar Land, TX

Full-time

Sugar Land, TX

Credit Intermediation and Related Activities

About the position

The BSA Risk Manager position at Prosperity Bank is a full-time role located in Sugar Land, TX, under the direction of the Sr. BSA Manager. This position is crucial for performing a comprehensive analysis of the Bank's BSA/AML (Bank Secrecy Act/Anti-Money Laundering) and OFAC (Office of Foreign Assets Control) risks. The BSA Risk Manager will assist in identifying risks related to money laundering, terrorist financing, and other illicit financial activities, while also developing appropriate internal controls to mitigate these risks. In this role, the BSA Risk Manager will analyze both existing and emerging risks, evaluating the internal controls that are in place to manage BSA/AML and OFAC risks across the Bank's diverse range of products, services, customer base, and geographic locations. The position is integral to ensuring the Bank's compliance with legal and regulatory requirements, serving as a subject matter expert on BSA/AML and OFAC risk compliance matters. The BSA Risk Manager will collaborate with various areas within the BSA Department and business units throughout the Bank, providing guidance, aiding in regulatory interpretation, and ensuring alignment with established policies, procedures, and guidelines. Additionally, the BSA Risk Manager is responsible for updating the BSA/AML and OFAC Risk Assessments in a timely manner, responding to changes in the Bank's offerings and customer demographics as directed by the Bank's BSA/AML and OFAC Policy and Procedures. This role requires a proactive approach to managing risk assessments, conducting periodic reviews of business processes, and identifying compliance gaps and potential risk exposures. The BSA Risk Manager will also monitor emerging regulatory changes and trends, ensuring that the Bank remains compliant and well-informed about potential risks.

Responsibilities

• Manage the BSA/AML and OFAC Risk Assessment processes, including providing quarterly and annual risk evaluations.
• Assess the Bank's products and services risk, customer base risk, geographic risk and potential money laundering and terrorist financing risk associated with those activities.
• Perform periodic review of business processes and controls to identify compliance gaps and potential risk exposure.
• Partner with business units to remediate BSA/AML and OFAC findings identified in risk assessments, internal audits, and/or regulatory examinations.
• Evaluate data and monitor that the risk mitigation efforts are acceptable for the Bank's risk tolerance levels as defined by the Bank's Board of Directors.
• Serve as the Subject Matter Expert on money laundering and terrorist financing risks, offering insight and recommendations on matters that may affect risk.
• Coordinate data gathering for the completion of the BSA/AML and OFAC risk assessments.
• Identify, evaluate, and report on emerging BSA/AML and OFAC risks.
• Consult with BSA Sr. Management on emerging risks and procedural change recommendations to enhance the BSA/AML and OFAC Programs.
• Actively monitor and report on emerging regulatory BSA/AML and OFAC Compliance changes, trends, and issues.
• Respond to BSA/AML and OFAC related inquiries or refer to the appropriate department, person, or vendor, ensuring the appropriate follow through with all parties involved.
• Assist with responsibilities for the various department functions in the absence of staff members or during a declared natural disaster or pandemic.
• Perform risk and impact analysis, using modeling where warranted, to identify changes in risk direction.
• Provide change recommendations for the BSA/AML and OFAC Risk Assessment Risk Categories and Risk Weights.
• Advise management on potential shifts in Inherent Risks and recommend changes for Mitigation and Controls to reduce residual risk where feasible.
• Assist all areas of the Bank with enhancing and implementing changes to their Department procedures and/or processes as they relate to BSA/AML and OFAC risk.
• Assist in the preparation of various Executive and Committee reports.
• Report any suspicious or unusual activity by customers and/or associates.
• Complete all required Bank training.
• Other duties as assigned by Sr. BSA Management.

Requirements

• Knowledge of BSA, AML, and OFAC regulations and guidance, with the ability to apply and explain regulatory concepts.
• Thorough understanding of the FFIEC BSA Examination manual.
• Familiarity with banking products and services, operations, and customer/transaction types.
• Minimum of five years BSA/AML-related banking experience.
• Risk assessment experience preferred.
• Strong interpersonal and verbal/written communication skills.
• Self-starter, capable of working under minimum supervision.
• Multi-tasker and able to meet deadlines in a high-pressure environment.
• Results-oriented team player.
• Strong problem-solving ability.
• Highly organized with project management skills.
• Exceptional research and analytical skills.
• Proficient in MS Office (Outlook/Word/Excel/PowerPoint).
• Strong documentation skills.