Senior Director, BSA & AML
Job Description
Position Goals:
Coordinate and monitor day-to-day Bank Secrecy Act/anti-money laundering (BSA/AML) compliance, including managing all aspects of an effective BSA/AML compliance program for First Merchants Bank (FMB). Develop, maintain and manage the BSA, AML, other illicit financial activity risks and OFAC monitoring processes for FMB. Responsible for related line 2 monitoring processes and other targeted area enterprise-wide risk assessments.
Essential Duties and Responsibilities:
1. Assist the CRO in setting the Bank Security and Financial Crimes Group strategy and goals.
2. Maintain and update as needed the FMB BSA/AML program, addressing money laundering, terrorist financing and other illicit financial activity risks.
3. Ensure the FMB BSA/AML program maintains compliance with the Bank Secrecy Act, OFAC, and FinCEN requirements.
4. Maintain a current knowledge of the Bank Secrecy Act and all related anti-money laundering and OFAC regulations.
5. Develop internal controls and validation processes to ensure ongoing BSA/AML compliance, including completion of BSA/CIP/OFAC self-assessments/monitoring.
6. Responsible for ongoing corporate-wide risk analysis as it related to BSA/AML, counter-terrorist financing and other illicit financial crimes; by client types, product, transactions and geographic areas.
7. Facilitate on-going communication within the bank to ensure the annual BSA/AML program is successfully completed.
8. Responsible for ongoing enterprise-wide risk assessments related to specific subject areas that are cross-departmental such as fraud, ACH and others, as they are identified.
9. Help manage annual regulatory, safety and soundness examinations and periodic reviews by banking regulators.
10. Work with Line 3 on the annual internal audits conducted on the BSA/AML program.
11. Assist with various lines of business and functional areas in reviewing new products, services and initiatives for compliance with anti-money laundering risks and applicable rules.
12. Represent Risk Management on standing committees as requested.
13. Represent Risk Management on project teams as requested.
14. Function as a Risk Management team member for bank acquisitions and integrations.
Position Requirements:
Education - Bachelor's degree.
Experience - Eight (8) plus years' experience as a BSA/AML officer or related.
Other - None.
Preferred Requirements:
MBA
ACAMS Certification
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
Coordinate and monitor day-to-day Bank Secrecy Act/anti-money laundering (BSA/AML) compliance, including managing all aspects of an effective BSA/AML compliance program for First Merchants Bank (FMB). Develop, maintain and manage the BSA, AML, other illicit financial activity risks and OFAC monitoring processes for FMB. Responsible for related line 2 monitoring processes and other targeted area enterprise-wide risk assessments.
Essential Duties and Responsibilities:
1. Assist the CRO in setting the Bank Security and Financial Crimes Group strategy and goals.
2. Maintain and update as needed the FMB BSA/AML program, addressing money laundering, terrorist financing and other illicit financial activity risks.
3. Ensure the FMB BSA/AML program maintains compliance with the Bank Secrecy Act, OFAC, and FinCEN requirements.
4. Maintain a current knowledge of the Bank Secrecy Act and all related anti-money laundering and OFAC regulations.
5. Develop internal controls and validation processes to ensure ongoing BSA/AML compliance, including completion of BSA/CIP/OFAC self-assessments/monitoring.
6. Responsible for ongoing corporate-wide risk analysis as it related to BSA/AML, counter-terrorist financing and other illicit financial crimes; by client types, product, transactions and geographic areas.
7. Facilitate on-going communication within the bank to ensure the annual BSA/AML program is successfully completed.
8. Responsible for ongoing enterprise-wide risk assessments related to specific subject areas that are cross-departmental such as fraud, ACH and others, as they are identified.
9. Help manage annual regulatory, safety and soundness examinations and periodic reviews by banking regulators.
10. Work with Line 3 on the annual internal audits conducted on the BSA/AML program.
11. Assist with various lines of business and functional areas in reviewing new products, services and initiatives for compliance with anti-money laundering risks and applicable rules.
12. Represent Risk Management on standing committees as requested.
13. Represent Risk Management on project teams as requested.
14. Function as a Risk Management team member for bank acquisitions and integrations.
Position Requirements:
Education - Bachelor's degree.
Experience - Eight (8) plus years' experience as a BSA/AML officer or related.
Other - None.
Preferred Requirements:
MBA
ACAMS Certification
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
Date Posted
10/14/2022
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