VP, Fraud & BSA Compliance Lead

Description

The VP, Fraud & BSA Compliance Lead is responsible for ensuring that all departments within the Bank are compliant with Fraud and BSA requirements. The individual oversees the day-to-day monitoring, reporting, and control processes within the BSA & Fraud department. This VP, Fraud & BSA Compliance Lead will participate in risk assessments and recommend program improvements. The individual will review, update and implement policy and procedures to align with regulatory changes as well as all applicable state and federal banking regulations. This position performs various quality control reviews and monitoring pertaining to the Fraud Program, Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Customer Identification Program compliance using industry standard and regulatory guidance to ensure the Bank’s compliance efforts are maintained on a daily basis. This position requires that the individual work in office, independently, and with minimal supervision.

Ensures compliance within all Bank policies and procedures, as well as all applicable state and federal banking regulations.

Essential Duties and Responsibilities:

•  Perform quality control reviews of various AML/BSA/Fraud functions, including but not limited to case investigations, Suspicious Activity Reports (SARs), BSA/Fraud alerts, customer risk reviews, Currency Transactions Reporting (CTR), to determine if the review and research were conducted in accordance with quality standards and time frames set forth within established procedures, policies, and regulatory requirements.
• Oversee accurate and timely preparation, review, and filing of Currency Transaction Reports (CTRs) and other required regulatory filings, ensuring full compliance with BSA/AML regulatory requirements and reporting standards.
• Oversee the investigation, documentation, and timely preparation of Suspicious Activity Reports (SARs), under the direction of the SVP, Fraud & BSA Officer, ensuring filings submitted to FinCEN are comprehensive, defensible, and compliant with regulatory expectations.
• Provide ongoing oversight of BSA, Fraud, CDD, EDD, and Watch List alert monitoring programs, ensuring investigations are conducted timely, risk exposures are appropriately mitigated, and regulatory requirements are consistently met.
• Evaluate, calibrate, and optimize AML transaction monitoring system scoring, parameters, and detection scenarios to improve effectiveness, enhance risk identification, and align monitoring activities with the Bank’s established risk appetite and tolerance levels.
• Lead transaction testing, data validation, model tuning, and ongoing customization of AML monitoring systems to ensure data integrity, effective alert generation, and compliance with regulatory and internal control requirements.
• Review, validate, and document customer risk ratings, risk designations, and mitigating factors to ensure accurate risk assessment and the establishment of appropriate Enhanced Due Diligence (EDD) review frequencies.
• Review and approve high-risk account openings and Enhanced Due Diligence (EDD) assessments, ensuring customer risk factors are thoroughly evaluated, required controls are implemented, and regulatory expectations are satisfied prior to account approval.
• Provide leadership and operational support for the Bank’s Fraud Program, overseeing daily fraud risk activities, complex alert and case investigations, financial elder abuse reviews, and the timely escalation and reporting of suspicious activity to mitigate financial, regulatory, and reputational risk.
• Serve as a primary liaison with law enforcement agencies, regulatory bodies, peer institutions, and industry fraud prevention networks to facilitate information sharing, support investigations, and strengthen fraud prevention efforts.
• Contribute to the design, enhancement, and implementation of fraud risk management processes, tools, policies, standards, and procedures, ensuring alignment with the Bank’s BSA/AML framework, risk appetite, and regulatory requirements.
• Conduct root cause analyses of identified data quality issues, tracing data anomalies to their source, assessing potential impacts to monitoring and reporting processes, and implementing sustainable corrective actions to improve data integrity and operational effectiveness.
• Serve as a subject matter expert on BSA, AML, OFAC, fraud prevention, and financial crimes compliance by providing guidance, interpreting regulatory requirements, answering complex inquiries, and promoting consistent application of risk management practices across the organization.
• Support the development of BSA and Fraud Department personnel through coaching, mentoring, training, and knowledge-sharing initiatives that enhance technical expertise, investigative capabilities, and overall team performance.
• Lead and support special projects and strategic initiatives, including the preparation of executive and ad hoc reports, development of financial crimes metrics and tracking tools, system enhancement efforts, testing coordination, and process improvement activities.
• Monitor, analyze, and interpret new and emerging laws, regulations, enforcement actions, and industry guidance, recommending and implementing enhancements to policies, procedures, controls, and disclosures to maintain regulatory compliance and program effectiveness.
• Partner with external auditors, regulators, and examiners by coordinating information requests, preparing supporting documentation, developing management responses, and demonstrating the effectiveness of the Bank’s BSA/AML and Fraud compliance programs during examinations and audits.
• Perform additional duties, special assignments, and strategic projects as assigned, demonstrating flexibility, sound judgment, and the ability to effectively support evolving business, regulatory, operational, and risk management priorities.
• Participate in the recruitment, interview, selection, and onboarding process for BSA and Fraud personnel.
• Attend various seminars, webinars, and other outside compliance training.
• Comply with all requirements, policies, and procedures of the Bank Secrecy Act (BSA) and complete all mandatory BSA training as needed for this position.  
• Report to the BSA Officer any money laundering, fraud, and other suspicious activity.
• Minimum of 10 hours CRA volunteer hours per year. Volunteer hours are typically scheduled within business hours. This is compensable time and mileage is reimbursed.
• Other duties as assigned

Qualifications:

• Advanced understanding of banking and fraud threats posed by money laundering activities.
• Combination of training and experience that would provide the knowledge and abilities listed above including specific knowledge of State and Federal laws and regulations pertaining to financial institutions (i.e., BSA, AML, OFAC, USA Patriot Act)
• Minimum of 7 years BSA and Fraud experience. Experience in depository financial institution processes and procedures or similar experience is preferred.
• Solid understanding of banking and fraud threats posed by Money Laundering activities.
• Have a strategic and entrepreneurial mindset with an ability to identify emerging compliance trends and risks, ensuring we stay ahead of the curve.
• Excellent verbal and written communication skills, with the ability to break down complex requirements into easy to understand and practical systems.
• Proficiency with computer programs including fraud identification and AML software.
• Organize workflow efficiently, self-direct personal training needs and utilize available resources.
• Perform financial analysis, draw logical conclusions, and make recommendations when needed.
• Sound analytical, evaluation, communication, and interpersonal skills.
• Ability to distinguish and manage confidential information, materials, and conversations.
• Establish and maintain effective working relationships with employees from other departments.
• Ability to work scheduled full-time hours and maintain regular attendance.
• Ability to multi-task in a fast-paced environment.
• Certified Anti-Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE) certification, Certified AML and Fraud Professional (CAFP), or other applicable industry designation preferred

Physical/Mental Demands & Work Environment:

The incumbent in the course of performing this position frequently spends time writing, typing, speaking, listening, operating basic business equipment, seeing (such as close, color and peripheral vision, depth perception and adjusted focus), sitting, walking, standing, reading documents or instruments, detailed work, problem solving, client contact, reasoning, math, language, presentations, verbal and written communication, analytical reasoning, stress, multiple concurrent tasks, and constant interruptions. The incumbent for this position will occasionally lift up to 15 pounds, pull, squat, kneel and reach. The incumbent is in a non-confined office-type setting in which they are free to move about at will. The work environment is typically quiet to a moderate noise level.

Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. Management reserves the right to change this position description at any time.

Requirements

See qualifications above.

Poppy Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.

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