The Bank Secrecy Act (BSA) Compliance department is part of Flagstar Bank's (the Bank) second line of defense in the Bank's quest to provide an effective BSA/AML program. Suspicious Activity Monitoring (SAM), Customer Due Diligence (CDD) and Investigations are an integral part of a strong BSA/AML Compliance program. The BSA/AML Compliance Supervisor is responsible for driving productivity, quality and overall performance of a team of BSA/AML Compliance professionals. In this role, the BSA/AML Compliance Supervisor will manage one or all of the following areas: incidents/alert reviews involving potential money-laundering and terrorist financing activity; Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) processes; BSA/AML related investigations and corporate wide Suspicious Activity Reporting (SAR); and Right to Financial Privacy Act as it relates to law enforcement requests. The position will assist in minimizing the organizational exposure to BSA/AML risk, and support all direct reports by helping them overcome various challenges. Additional responsibilities may include assisting with the development of policies and procedures, regulatory and legislative compliance, conducting performance reviews, and acting as a liaison with business unit partners as required. This position will be responsible for maintaining and ensuring organizational compliance with the Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) regulations. This supervisory position requires extensive job-related experience. The BSA/AML Compliance Supervisor position supports their direct BSA/AML Compliance Manager. Industry certification is required. In addition, this position will mentor and train direct report BSA/AML Compliance personnel.
Daily operational support and management of a team of BSA/AML Compliance professionals; management of team schedule, including PTO requests; drafting and delivery of performance reviews and corrective action documents.
Daily management of one or more of the following functions: reviews of alerts generated by a sophisticated suspicious activity monitoring system; Customer Due Diligence processes, including customer risk analysis, enhanced due diligence of high risk customers; BSA/AML related investigations and corporate-wide suspicious activity reporting. Work with law enforcement; respond to written requests, including subpoenas.
Review and/or execute management reports related to quality, productivity and overall performance.
Train departmental staff in processes, procedures and systems. Acquire knowledge and maintain currency of all compliance, regulatory, and business unit policy, standard and procedure requirements associated with the job. Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar's internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.
Bachelor's Degree Strongly Preferred (Business Administration, Criminal Justice, or related)
Seven or more years of financial industry, BSA/AML or related experience
Competency in Microsoft Office products
Knowledge of BSA/AML and OFAC laws and regulations.
Ability to multi-task and set priorities
Ability to work independently with minimal supervision
Ability to display a high level of confidentiality
Ability to manage alert volumes
Excellent analytical, judgement, and research skills
Positive attitude, enthusiasm, professionalism, and strong work ethic with high level of integrity and ethics.
Outstanding written and verbal communication skills with demonstrated ability consulting with all levels of an organization
Team-oriented, great at problem solving, able to juggle multiple priorities and excel in a dynamic and fast moving environment