Compliance, BSA, OFAC & CRA Officer

Role and Responsibilities

The Compliance, BSA, OFAC & CRA Officer reports directly to the Board of Directors of Evermore Bank, with an internal administrative reporting line to the CFO.

The Compliance, BSA, OFAC & CRA Officer works with senior management, the Audit Committee, and the Board of Directors to establish the framework to identify, assess, monitor and control all aspects of the Bank’s compliance initiatives including the responsibility of administrating and maintaining the Bank’s BSA/AML policies and procedures to ensure the Bank follows all applicable laws and regulations.

The Compliance, BSA, OFAC & CRA Officer:

• Ensures that Evermore Bank’s compliance risks are adequately identified, assessed, monitored and controlled in conjunction with the business unit(s) and any associated control function.
• Aligns annual compliance plans with business strategies and goals.
• Develops, initiates, maintains, and revises policies and procedures for the Bank’s Compliance, CRA, and BSA Programs.
• Monitors the performance of the Compliance, CRA, and BSA Programs, and related activities on a continuing basis, taking appropriate steps to improve their effectiveness.
• Performs the Bank’s Compliance and BSA/AML Risk Assessments.
• Responsible for developing an effective compliance training program, including appropriate introductory training for new employees, as well as ongoing training for all Bank associates and the Board pf Directors.
• Acts as an independent review and evaluation body to ensure that compliance Issues/concerns within the organization are being appropriately evaluated, investigated, and resolved.
• Identifies potential areas of compliance vulnerability and risk; develops/implements corrective action plans for resolution of problematic issues and provides general guidance on how to avoid similar situations in the future.
• Ensures proper reporting of violations or potential violations to duly authorized enforcement agencies as appropriate and/or required.
• Monitors and report all complaints to senior management and the Board of Directors on a regular basis.
• Provides reports on a regular basis to keep the Board of Directors and senior management informed of the operation and progress of compliance efforts.
• Reviews all advertising/marketing and development of new products and services to ensure compliance with all regulatory requirements including but not limited to Fair Lending, UDAAP and Truth in Savings, etc.
• Responsible for the overall operations and staff within the Compliance and BSA/AML Departments.
• Provides guidance on all compliance and BSA/AML matters to all associates throughout the Bank.
• Validates BSA/AML methodology rules, thresholds, and risk scoring in the Bank’s transaction monitoring system.
• Reviews and approves all SARs prior to filing, ensuring accuracy and conformity to FinCEN guidance.
• Reviews CTRs for accuracy and conformity to FinCEN guidance.
• Reviews resolution of all FinCEN 314(a) requests and possible OFAC matches.
• Provides final approval of all possible OFAC matches including the responsibility of contacting OFAC to report any Blocked/Rejected transactions.
• Stays abreast of industry trends by leading and/or attending seminars, training sessions, and workshops, as necessary to develop and ensure compliance with banking regulations and industry standards for financial institutions.
• Executes other duties and projects, as assigned by the President & CEO, CFO, Audit Committee, and/or the Board of Directors.

Qualifications and Education Requirements

• Bachelor’s Degree and demonstrated a minimum of 10 years relevant experience in Compliance and BSA/AML in a commercial banking organization managing and delivering best practice investigative and proactive compliance service in or for a banking organization with significant activity in Miami and Latin America or equivalent combination of education and experience.
• Strong knowledge of financial institution compliance with the ability to set compliance strategy, analyze multiple complex business and regulatory issues and implement new compliance policies and procedures
• Comprehensive knowledge of Compliance and BSA/AML regulations, sufficient to interpret and analyze complex concepts.
• Comprehensive management and leadership skills and the ability to coordinate a wide range of different compliance initiatives that the compliance department manages on behalf of the Bank.
• Demonstrated leadership skills, excellent interpersonal skills, and proven problem-solving ability.
• ACAMS certification preferred.
• Team-building and effective communications skills are critical requirements, as is the ability to make decisions in a dynamic environment.
• Well-developed and demonstrated facilitation, persuasion, presentation, and project management skills.
• Knowledge of interrelationships amongst Bank functions.
• Demonstrated ability to champion and support operational efforts.
• Ability to effectively collaborate with others and accept challenging assignments.

Preferred Skills

Ability to work under pressure and make decisions according to established guidelines; work unsupervised and accomplish tasks accurately and on a timely basis; prioritize work; strong organization skills. Travel may be required. Must be able to work with Microsoft Word, Excel, and Outlook. Ability to read, write and speak fluently in English is required and in Spanish is preferred.

Job Type: Full-time

Benefits:

• 401(k)
• Dental insurance
• Employee assistance program
• Health insurance
• Life insurance
• Vision insurance

Work Location: In person