BSA Manager

About the Role:

Bank Iowa Corporation is seeking a highly skilled BSA Manager to join our team. As a BSA Manager, you will be responsible for supporting the development, implementation, and administration of all aspects of the corporate-wide Bank Secrecy Act (BSA) and OFAC Compliance Program.

Key Responsibilities:

• Monitor compliance with state and federal laws and regulations, including all elements of the Bank Secrecy Act, OFAC, and associated regulations.
• Independently recognize, develop, and implement effective compliance solutions for the bank's BSA program.
• Serve as primary administrator for the bank's BSA monitoring systems and manage day-to-day functions and escalated matters from BSA Analysts.
• Coach and support the BSA team.
• Work with the Compliance & Risk Director to coordinate and oversee an effective Bank Secrecy Act and OFAC compliance program that follows current industry best practices, regulatory guidance, and requirements.
• Develop, implement, administer, and enhance BSA monitoring systems to ensure that appropriate parameters are in place to identify suspicious activity.
• Ensure proper reporting and retention of reporting as required by regulation.
• Serve as subject matter expert in all systems related to BSA activities.
• Oversee and maintain an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments and reviews along with analyzing unusual account activity.
• Oversee and maintain appropriate SAR investigations, reviews, and reporting that promotes consistent decisions, adequate investigation, and research, and detailed SAR reporting.
• Oversee and maintain CTR identification and reporting. Ensure system reports and alerts are reviewed to ensure required CTRs are filed timely along with being adequately retained.
• Oversee an efficient CTR exemption process.
• Oversee and maintain an effective CIP and Beneficial Ownership program to ensure all individuals and entities are adequately identified and the necessary checks completed along with proper retention of documentation.
• Ensure monetary instruments and wires are handled appropriately with proper logging and retention.
• Oversee and maintain proper handling of watch list alerts and logging of activity when required.
• Prepare and maintain BSA-related risk assessments to incorporate changes to products, services, customer base, and geographies that may present BSA risk.
• Prepare and maintain BSA policies and procedures and work with other departments to ensure BSA requirements are incorporated into processes throughout the organization.
• Administer BSA & OFAC training programs for directors, management, employees, and the BSA Analyst team. Ensure consistent BSA guidance to employees by the BSA Analyst team.
• Monitor and analyze changes to BSA and OFAC-related laws and regulations. Collaborate with Compliance-Risk Director to identify emerging risks and recommend controls to mitigate risk.
• Ensure an effective control environment and prioritize focus towards areas identified as having the highest level of BSA risk to the bank.
• Conduct quality control reviews of BSA processes and the BSA monitoring program to ensure consistency and accuracy.

Requirements:

• Bachelor's Degree or equivalent educational/work experience.
• At least 7 years' experience working directly with BSA & OFAC regulations.
• Prior experience using a BSA/AML monitoring system, preferably Verafin.
• Strong leadership skills and experienced leading a team.
• Ideal candidates will have strong knowledge of bank administration, lending, operations, and retail services; be detail-oriented and knowledgeable of BSA & OFAC regulations; be self-motivated with the ability to manage time and adhere to strict deadlines; have strong analytical and problem-solving skills and have experience with financial institution software systems as well as Microsoft Office applications.

About Bank Iowa Corporation:

Bank Iowa Corporation is a leading independent Ag bank and the second-largest family-owned bank in the state of Iowa. Our bank family consists of team members and clients throughout Iowa who we serve in our 22 communities.

At Bank Iowa Corporation, we're proud to put people first, and we value our team members as much as our clients. We support team member development by focusing on their innate talents and developing those into areas of strength. We offer an environment where people care about each other like family.

Bank Iowa Corporation is an equal opportunity employer with a passion for creating an inclusive environment where all people are truly welcomed, valued, and respected – for all of who they are – regardless of differences.