BSA/AML Specialist

Come Grow with Us and Join an Award-Winning Organization! Stearns Bank is looking for a BSA/AML Specialist. This is a remote-eligible position headquartered out of St. Cloud, Minnesota. 

JOB SUMMARY: This position is responsible for assisting the BSA Officer as advised, with emphasis on BSA/AML compliance & Anti-Fraud issues. This position is responsible for performing independent review and analysis on individuals and entities to ensure compliance with the Bank Secrecy Act, the USA PATRIOT Act and adherence to Bank policy involving BSA/AML and OFAC compliance activity monitoring including but not limited to Suspicious Activity Reporting (SARs), Enhanced Due Diligence/high risk customer reviews, Currency Transaction Reports (CTRs), monetary instruments, gift cards, funds transfers, remote deposit, ACH, missing CIP, beneficial ownership, CTR exempt persons list, information sharing and maintaining various other BSA related reports/records (all summarized as “BSA/AML”). A significant level of trust, credibility and tact is required. In-depth dialogues, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature.

Starting annual salary of $60,000.00. Employment offers will be dependent upon the selected candidate’s relevant qualifications and experience.

RESPONSIBILITIES

• Establish and maintain a high degree of knowledge of banking rules, regulations and best practices that are applicable to compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Anti-Financing of Terrorism rules and regulations.
• Maintain a solid understanding of rules, regulations and best practices pertaining to banking that are applicable to compliance with:

• Bank Secrecy Act
• USA PATRIOT Act
• SBA OIG Referrals, and 
• Any other compliance regulation assigned to the team. 

• Enhanced Due Diligence – identification and monitoring of higher risk customers.
• Monitoring, analysis, investigation, and disposition of alerts in the electronic monitoring system.
• Investigate, research, document, and disposition cases of suspicious activity and make recommendation for SAR or Non-SAR case determinations.  
• Follow-up reviews of suspicious activity based on previous SARs filed.
• CTR filing and maintenance of the CTR Exemption List.
• Work with BSA coordinators designated at Stearns Bank branch and affiliate locations regarding their BSA compliance procedures and processes.
• Serve as a resource for bank team members on BSA/AML, OFAC issues.
• Assists in ensuring that the Bank’s BSA programs have conformity and adherence with applicable state and federal laws and regulation.
• Assists in development of new policies, procedures, and personnel training on BSA matters while actively looking for ways to improve or build efficiencies.
• Assists in gathering documents …