Summary: The BSA/AML Manager plays a key role in supporting the Bank’s compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) regulations. This position ensures enterprise-wide adherence to regulatory requirements by overseeing the identification, investigation, and reporting of suspicious activity, facilitating ongoing risk assessments, and maintaining a comprehensive compliance structure across all business units, including digital banking.
In collaboration with the VP, BSA & OFAC Officer, the Manager drives the development and execution of a quality control program designed to promote accuracy and effectiveness in transaction monitoring, investigations, and customer due diligence processes. The role involves conducting periodic reviews of the Bank’s product offerings, shaping policy standards, delivering compliance training at all levels, and providing leadership to ensure staff development aligns with the Bank’s long-term strategic objectives.
The Manager also works with internal stakeholders to assess and mitigate financial crime risks associated with online and mobile banking channels, supports regulatory examinations and audits, manages a team of analysts, and actively contributes to the continual improvement of the Bank’s transaction monitoring systems and overall compliance program.
Job Responsibilities:
BSA / AML Activity Review & Supervision Responsibilities
- Develops, evaluates, and oversees the Bank’s daily BSA/AML compliance activities, including but not limited to CTR filings, wire transfer reporting, W-8 BEN documentation, AML reporting, and the Customer Identification Program (CIP).
- Ensures timely and accurate submission of all required regulatory reports and notices.
- Conducts periodic departmental reviews to verify adherence to applicable policies and procedures.
- Serves as the Bank’s approved 314(b) point of contact, facilitating appropriate information sharing with external institutions.
- Reviews and monitors suspicious activity across consumer and commercial accounts; coordinates with branch personnel, departments, and the BSA team, and collaborates with the Fraud Officer on reportable fraud and account activity.
- Manages and assesses the daily work of BSA/AML analysts, ensuring both quality and productivity standards are met, while identifying training needs and implementing corrective actions, as necessary.
BSA / AML Reporting & Risk Assessment
- Supports the VP, BSA & OFAC Officer in preparing key reports and assessments, including the annual BSA Board Report, BSA Risk Assessment, OFAC Risk Assessment, and Annual Money Laundering Report (MLR), along with all related reports provided to the Board and Senior Management.
- Compiles and maintains annual statistical data required in the Bank’s written BSA policy.
- Conducts research and provides insight to support the risk rating of BSA-related products and services.
- Assists in designing and implementing mitigating controls for higher-risk products and customer categories.
- Revises and updates the written BSA Policy to reflect regulatory or operational changes; serves as the designated back-up for the VP, BSA & OFAC Officer.
BSA Annual Training & Audit Oversight
- Serves as backup to the VP, BSA & OFAC Officer in delivering annual BSA training to all Bank personnel, including the Board of Directors, Senior Management, Retail, Operations, and Lending teams.
- Develops role-specific training programs by incorporating case studies, industry publications, and SAR trend analyses to highlight emerging money laundering tactics.
- Offers ongoing support and guidance to Bank staff on interpreting and applying federal BSA/AML regulations and internal compliance protocols.
- Assists the VP, BSA & OFAC Officer in preparing for and responding to internal audits, independent assessments, system validations, and regulatory examinations.
- Manages documentation requests and provides comprehensive information on the Bank’s BSA/AML policies, procedures, and internal control measures.
Quality Control Metrics, Scorecards, and Key Risk Indicators (KRIs)
- Designs and maintains comprehensive scorecards to monitor and evaluate quality control metrics across BSA compliance activities.
- Analyzes scorecard results to identify performance trends and pinpoint areas requiring improvement to strengthen overall compliance effectiveness.
- Develops and reports key risk indicators (KRIs) that help measure compliance performance and operational risk exposures.
- Prepares detailed risk reports that highlight emerging threats, potential compliance gaps, and control efficiency, offering strategic insights to support ongoing process enhancements.
Verafin AML/Vendor Management
- Conducts annual AML software parameter testing and analysis to ensure alert thresholds remain appropriate, along with semi-annual system validations to verify accurate mapping and data integrity.
- Oversees all BSA/AML-related system enhancements and projects, including those impacting the Core banking platform, AML software, and integrated applications used across various departments.
BSA/AML, OFAC, and SDN Compliance
- Stays current on developments and changes in BSA/AML regulations and communicates relevant updates to appropriate Bank personnel.
- Communicates emerging compliance trends and risk indicators to Senior Management to inform strategic decision-making.
- Reviews and monitors OFAC screening processes to ensure compliance with sanctions regulations, investigates potential matches, documents findings, and confirms appropriate resolution steps are taken.
- Maintains subject matter expertise in suspicious activity detection, 314(a) information sharing, and OFAC compliance, and evaluates potential alerts for escalation to the BSA & OFAC Officer.
Other Responsibilities
- Other duties and projects as assigned.
Job Requirements:
- Bachelor's degree
- Certified Anti-Money Laundering Specialist (CAMS) certification required, or an equivalent designation.
- 5 years of progressive experience in BSA/AML and OFAC compliance within a financial institution.
- 2 years in a supervisory or managerial capacity within a BSA/AML compliance department.
- Demonstrated expertise in managing investigations, SAR filings, and OFAC screening resolution, with a strong record of team leadership and development.
- Comprehensive understanding of the Bank Secrecy Act (BSA), USA PATRIOT Act, OFAC sanctions programs, FinCEN guidance, and relevant federal and state regulations.
- Working knowledge of the FFIEC BSA/AML Examination Manual and corresponding regulatory expectations.
- Proven ability to design and implement quality control frameworks and compliance procedures.
- Demonstrated ability to train, lead, and mentor analysts and investigators effectively.
Preferred
- Familiarity with AML risks associated with digital banking platforms.
- Experience supporting or leading internal audits, regulatory examinations, and independent reviews.
- Experience with platforms such as Fiserv DNA, CWS Client Workstation, ISResearch, and Power BI.
Columbia Bank offers the following benefits:
- Medical, Dental, Vision and Rx which are contributory.
- Bonus programs.
- Employee Stock Option Program (ESOP).
- Life Insurance, Long Term Disability and Accidental Death and Dismemberment (LTD&AD&D).
- Paid Time Off (PTO) which includes Personal and Vacation Time.
- Paid Sick Time.
- Bank Holidays.
- Employees may participate in the 401k program.
Columbia Bank and its affiliates is an Equal Opportunity Employer, including individuals with disabilities and veterans.
