BSA OFAC Officer
BSA OFAC Officer
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1 Vacancy
Job Description
Job Description
At WSFS Bank we empower our Associates to grow their careers guide our customers to secure their financial futures and actively support our Communities so they can fully thrive. Careers with WSFS Bank offer an inclusive and supportive culture competitive salaries advancement opportunities and more. We are the regions locally headquartered bank and wealth management company. We are honored to consistently be named a Top Workplace by our Associates who make a difference every day for the people businesses and Communities we serve. We Stand For Service is more than part of our name its our mission and our purpose.
The BSA OFAC Officer is responsible for ensuring that WSFS Financial Corporation is compliant with the Bank Secrecy Act (BSA) the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (USA PATRIOT ACT) all applicable antimoney laundering (AML) statutes and requirements as mandated by the Office of Foreign Assets Control (OFAC). The incumbent is accountable for maintaining oversight over the BSA/AML/OFAC Compliance Program including supporting internal controls appropriate designation of a BSA Officer maintaining appropriate educational programs ensuring independent testing of the Program and maintaining riskbased customer due diligence procedures. In addition the BSA/OFAC Officer is responsible for the people processes and technologies deployed for the purpose of identifying unusual customer activity related to money laundering financing and other criminal activities conducted or attempted at or through WSFS Financial Corporation.
Job Responsibilities:
- Maintains the highest degree of integrity and ethics and adheres to all Bank policies and procedures. Deploys critical professional judgment in all aspects of managing and leading BSA/AML/OFAC functions.
- Manages and leads all aspects of a BSA Team of 30 including managers team leads investigators and analysts.
- Builds and successfully manages relationships with key management stakeholders throughout WSFS creating an environment of transparency and trust.
- Effectively communicates expectations to key management stakeholders.
- Understands key BSA/AML/OFAC workflows and rulesets and deploy critical professional judgement in assessing and reengineering staffing models processes and technologies to enhance Program compliance efficiency and effectiveness without compromising controls and compliance with applicable laws and regulations.
- Direct necessary BSA/AML/OFAC/Fraud/etc. risk assessments on an annual basis or otherwise as warranted.
- Ensure BSA/AML/OFAC training is adequate and provided to all appropriate Associates.
- Participate on committees and/or taskforces such as Compliance Committee and Cannabis Taskforce as deemed necessary.
- Provide oversight to the development of new material and update of existing documentation as it relates to BSA AML OFAC and US Patriot Act policies and requirements.
- Stay apprised of proposed rules new or changed laws and regulations as well as emerging issues hot industry topics and money laundering financial crimes or financing trends in order to enhance the BSA/AML Program as appropriate.
- Prepare high quality informative board reports at the appropriate level for the audience to understand Program maturation and the summary of matters emanating from the Program.
- Sponsor and manage Program enhancements including process reengineering and technological improvements.
- Assist in the preparation of Risk Management Division annual budget.
- Responsible for achieving the longterm corporate objectives established by WSFS Senior Management.
- Additional responsibilities delegated by the Chief Compliance Officer as required.
Minimum Qualifications:
- Bachelors Degree; an advanced degree is desirable.
- Must have experience being employed by a $20B financial institution and has served in the role of BSA Officer or Deputy BSA Officer for the last 5 years.
- Must have a minimum of 10 years of related experience.
- Must have a minimum of 10 years of specific BSA/AML investigative experience with personal investigative and suspicious activity reporting (SAR) filing experience at a financial institution.
- Certified AntiMoney Laundering Specialist (CAMS) certification is required and additional certifications such as a CPA CFE CRCM CIA are preferred.
- Comprehensive understanding of banking and of financial crime patterns is required.
- Must have thorough knowledge of the Bank Secrecy Act antimoney laundering laws and regulations the USA PATRIOT Act as well as a strong understanding of OFAC regulations.
- Must have a demonstrated history of strong leadership and management skills.
- Must have a high degree of analytical problemsolving and organizational and project management skills.
- History of favorable interactions with regulators and auditors is required.
- Must have excellent verbal written and communication skills including demonstrated board presentation skills.
- Must have good attention to detail and deployment of sound critical professional judgment.
- Ability to work in a fastpaced deadlineoriented environment is required.
- Prior experience with the development testing and implementation of BSA/AML/OFAC systems is required as is the demonstrated ability to assess and enhance the same systems through a project management and system development life cycle discipline.
- Familiarity with Verafin Prime FCRM FCM IBS and FIS systems is preferred.
WSFS Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation including technical assistance with the WSFS Bank Careers website or submission process please contact us via email at
WSFS is an equal opportunity employer. We do not discriminate based upon race religion color national origin gender (including pregnancy childbirth or related medical conditions) sexual orientation gender identity gender expression age status as a protected veteran status as an individual with a disability or other applicable legally protected characteristics.
Required Experience:
Unclear Seniority
Employment Type
Full-Time
