BSA Officer & BSA Fraud Department Manager

River Run is a shared services organization that supports banking affiliates, Newburyport Bank, Pentucket Bank and Rollstone Bank & Trust.

This role features a hybrid work model that blends in-office collaboration three days a week with the flexibility to work from home two days a week.

The BSA Officer & BSA fraud Department Manager oversees the Bank’s BSA/AML/CFT, OFAC, and Fraud Programs to ensure compliance with applicable laws and regulations. Leads fraud prevention, detection, and recovery efforts, monitors financial crime risks, and maintains effective controls. Manages staff and, under the direction of the Board, implements BSA/AML policies, procedures, processes, and reporting while maintaining BSA Officer independence.

Essential Job Functions

• Administers and maintains the Bank’s BSA/AML/CFT and OFAC compliance programs, including policies, procedures, risk assessments, regulatory reporting, AML software and data integrity, and Board reporting, while maintaining BSA Officer independence.
• Oversees the department, including hiring, training, supervision, and staff guidance. Provides program metrics and reporting to senior management and the Board and conducts annual BSA/AML/CFT training for the Board.
• Oversees the Fraud Program, including prevention, detection, investigation, recovery, and loss mitigation. Partners with Retail Administration, Deposit Operations, Marketing, and other departments to manage fraud risk, establish fraud risk tolerance, develop prevention strategies, and create employee and customer training.
• Reviews and approves SARs, CTR exemptions and revocations, escalated Fraud and AML investigations, and recommendations to enhance AML analytics and administration procedures.
• Serves as the primary contact for BSA/AML/CFT/OFAC regulatory examinations and stays current on regulatory changes, financial crime trends, and industry best practices to ensure compliance with applicable federal and state laws, regulations, and Bank policies.
• Ensures AML systems are functioning as intended and receiving required data from the core operating system and third-party systems. Maintains knowledge of Bank products, services, procedures, policies, and regulatory requirements, and verifies transactions and account balances as applicable to ensure accuracy and compliance.