Bank Secrecy Act Officer, Risk and Regulatory Office (Downtown - Seattle, WA) - HomeStreet Bank : Job Details

Bank Secrecy Act Officer, Risk and Regulatory Office (Downtown - Seattle, WA)Salary Range: $124,300.00 - $205,000.00 (Depending on knowledge, skills, abilities, and location. Certain level jobs may be eligible for bonus, commission, and/or equity awards.)Posting Date: November 12, 2024This job will be open and accepting applications for a minimum of three days from the date it was posted.Benefits worth writing home about:

• Medical, dental, and vision coverage for employees and their families
• Life, disability, and family leave
• 401(k) and Roth 401(k) with employer match
• Wellness program, employee assistance program, Commute Trip Reduction (CTR) and various employee discounts
• Generous vacation, sick leave, 11 paid holidays, and 16 hours of paid leave every year for community service work
• Free employee checking account and employee home loan discounts*For eligible employees averaging 20 or more hours per week.EO/AA Employer including Vets and Disabled.Qualified applicants with arrest and conviction records will be considered in accordance with legal requirements.Job Description Summary: This position is appointed by the Board of Directors and has the responsibility and authority to develop, implement, administer and maintain all aspects of the Bank Secrecy Act/Anti-Money Laundering ('BSA/AML ) and OFAC Compliance Program. This leadership position includes compliance program administration, including policies and procedures development; risk assessment; monitoring and reporting programs; staff management, development and training; examination and audit remediation and response; and regulatory examination preparedness.ESSENTIAL FUNCTIONS:
  • Develop, implement, administer a formal written Bank Secrecy Act/Anti-Money Laundering/OFAC Compliance Program.
  • Oversee an effective BSA/AML/OFAC risk assessment process.
  • Oversee customer and enhanced due diligence risk rating and monitoring program.
  • Oversee an effective OFAC Sanctions program.
  • Recommend procedures changes as necessary.
  • Regular reporting to ERMC and management on BSA/AML statistics.
  • Establish and maintain appropriate AML/SAR investigation processes.
  • Develop, enhance, implement and administer BSA/AML/OFAC monitoring systems.
  • Responsible for training and oversight programs for BSA/AML.
  • Ensure timely, accurate, and compliant regulatory reporting.
  • Assist business units in the interpretation of regulations.
  • Stay abreast of developing industry and compliance trends.
  • Oversee the administration of the Verafin FRAML system.
  • Act as the primary liaison with regulators and auditors.
  • Lead the strategic planning process for the BSA/AML/OFAC function.
  • Prepare a budget and monitor variances.
  • Perform or oversee supervision of BSA/AML/OFAC management and staff.QUALIFICATIONS:
    • Bachelor's Degree in relevant fields required.
    • Ten years of experience in BSA/AML/OFAC compliance preferred.
    • Professional certification preferred.
    • General knowledge of bank operations.
    • Strong interpersonal and communication skills.
    • Ability to interact effectively with all levels of management.
    • Strong decision making, analytical, and investigative abilities.
    • Proficient management and leadership skills.
    • High degree of initiative and dependability.
    • Knowledge of BSA software systems preferred.
    • Proficient in Microsoft Office suite.
    • Ability to work as part of a team as well as independently.
    • Washington State driver's license and auto insurance required.MENTAL AND PHYSICAL CONSIDERATIONS:
      • Willing and able to travel occasionally.
      • Operation of a Personal Computer and viewing information on a monitor.
      • Must be able to sit for many hours each day.
      • Ability to lift or carry up to 20 pounds.WORK ENVIRONMENT:
        • Normal business office environment.This Position Description may not be limited to the Functions and Requirements as outlined, now or in the future.Area: Legal, Compliance and Risk (Corporate) #J-18808-Ljbffr