BSA Compliance Officer

Summary

Join Forma as a Compliance Officer to design and execute the company's compliance function to meet bank and regulatory requirements, and support future growth and product innovation.

Requirements

• A deep understanding of the Bank Secrecy Act, Anti-Money Laundering (AML) laws, USA PATRIOT Act, and other relevant regulations and guidelines
• Awareness of global AML standards, such as those set by the Financial Action Task Force (FATF)
• Ability to analyze complex data, identify patterns, and detect unusual or suspicious activity
• Proficiency in using compliance and transaction monitoring systems
• Strong attention to detail to ensure accurate reporting and documentation
• Ability to scrutinize transactions and customer behavior for signs of potential non-compliance
• Excellent written and verbal communication skills to clearly convey compliance requirements and findings to various stakeholders
• Ability to provide training and education to staff on BSA/AML topics
• Aptitude for identifying compliance issues and developing solutions to mitigate risks
• Critical thinking skills to address complex regulatory challenges
• Familiarity with financial compliance software and systems used for transaction monitoring and reporting
• Basic understanding of data analysis tools and techniques
• Ability to conduct risk assessments and develop risk mitigation strategies
• Understanding of the risk landscape related to money laundering and financial crimes

Responsibilities

• Design and implement policies and procedures to ensure compliance with the BSA, Anti-Money Laundering (AML) laws, and other regulatory requirements
• Establishing a comprehensive compliance program that includes risk assessments, training, and monitoring
• Monitor transactions for suspicious activities that could indicate money laundering, terrorist financing, or other illegal activities
• Provide UAR (Unusual Activity Reporting) to banking partners for possible SAR filings
• Provide training on BSA/AML regulations and the institution's policies and procedures
• Conduct regular audits and independent testing of the BSA/AML compliance program to ensure its effectiveness
• Act as the primary point of contact with regulatory bodies and banking partners regarding BSA/AML issues
• Maintain comprehensive records of compliance activities, including training, audits, reports, and any actions taken in response to suspicious activities
• Conduct periodic risk assessments to identify and assess the institution's vulnerabilities to money laundering and financial crimes
• Report to senior management and the board of directors on the status of the BSA/AML compliance program

Preferred Qualifications

• A deep understanding of the Bank Secrecy Act, Anti-Money Laundering (AML) laws, USA PATRIOT Act, and other relevant regulations and guidelines
• Awareness of global AML standards, such as those set by the Financial Action Task Force (FATF)
• Ability to analyze complex data, identify patterns, and detect unusual or suspicious activity
• Proficiency in using compliance and transaction monitoring systems

Benefits

• Remote-first working environment
• Medical, dental and vision insurance plans
• Employee wellness program
• One-time home office stipend
• 401(k) savings plan
• Flexible PTO policy
• 12 weeks Parental Leave + 4 additional weeks for the Birthing Parent