BSA Officer

Position: BSA Officer

Reports To: Chief Compliance Officer

BMTX Overview

BM Technologies, Inc. (NYSE American: BMTX) - formerly known as BankMobile - is among the largest Banking-as-a-Service (BaaS) providers in the country, providing access to checking and savings accounts, personal loans, credit cards, and financial wellness. It is focused on technology, innovation, easy-to-use products, and education with the mission to financially empower millions of Americans by providing a more affordable, transparent, and consumer-friendly banking experience. BM Technologies, Inc. is a technology company and is not a bank, which means it provides banking services through its partner bank. More information can be found at www.bmtx.com.

Our Mission

We are on a mission to financially empower millions of Americans by providing a more affordable, transparent, and consumer-friendly banking experience. And we are passionate about having fun while making an impact

Job Description:

• Oversee all aspects of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) programs
• Coordinating and assisting in the administration of examinations and reviews by internal auditors, external auditors, bank partners, etc.
• Coordinating responses to regulatory BSA/AML examinations and audits and actions taken to ensure deficiencies are corrected
• Maintains proficient knowledge of the rules and regulations, including but not limited to, the Bank Secrecy Act (BSA) , USA Patriot Act, and OFAC
• Performs periodic BSA/AML/OFAC Risk Assessments as defined by internal policy
• Reviews, and makes recommendations on, companywide BSA/AML Training as well as specific Line of Business training. Prepares annual Board of Directors training.
• Develop and maintain BSA related policies and procedures
• Address regulatory changes that impact the business units
• Assist business units in implementing processes necessary to comply with regulations.
• Creates and maintains reporting metrics to track volumes.
• Oversee the AML monitoring system and team to ensure that alert, case and Suspicious Activity Referral (SAR) workload is being properly managed.
• Assist the BSA Team in their analysis over potentially unusual activity detected and determine if further inquiry and/or investigation is warranted.
• Supervise the production of SARs from investigation through the quality assurance process to ensure accuracy and timeliness.
• Work with 3rd party vendors to assess and adjust AML System thresholds as necessary.
• Identify, monitor and track AML System related issues and work across internal and external parties until resolution.
• Supervise the new account and periodic Office of Foreign Assets Control (OFAC) screening process.
• Proactively identify compliance risks, evaluate corporate operations for regulatory issues and develop and/or refine existing processes, to ensure that Company’s exposure to compliance failures and related fines and penalties are minimized.
• Develop BSA reporting and present BSA reporting to Board of Directors.

Qualifications

• Bachelor's degree required.
• Minimum of 10 years of directly related work experience in banking BSA/AML compliance
• Certificates, licenses, registrations: CAMS is required
• Candidate must have an understanding of back office bank processing for all deposit products.
• Thorough knowledge of USA PATRIOT Act, Bank Secrecy Act, OFAC and other related deposit banking rules and regulations
• Successful experience in performing analysis of compliance practices and procedures.
• Excellent analytical and communication skills
• Should be a self-starter and organized; able to work independently, without supervision; able to solve problems and offer solutions.
• Ability to make good decisions with keen sense of judgment.