MJK Connections is partnering with a community bank on a confidential search for an experienced Director, BSA
The Director will lead the development, implementation, and ongoing management of the bank's anti-money laundering, fraud prevention, and regulatory compliance programs. This individual will ensure compliance with applicable laws and regulations while identifying and mitigating financial crime risks across banking products, services, and delivery channels.
The role will oversee investigations, suspicious activity reporting, high-risk customer reviews, regulatory reporting, compliance risk assessments, and the development of policies, procedures, and training. The ideal candidate brings strong regulatory knowledge, leadership experience, sound judgment, and the ability to work collaboratively with bank leadership, employees, regulators, law enforcement, and external partners.
Key Responsibilities
Compliance Program Leadership
- Develop, maintain, and enhance anti-money laundering, sanctions compliance, and cannabis-related banking compliance programs.
- Establish and implement policies and procedures that address evolving regulatory requirements and emerging financial crime risks.
- Conduct annual and ongoing risk assessments covering customers, products, services, geographic markets, and banking activities.
- Ensure monitoring systems and controls effectively identify suspicious activity, potential fraud, and regulatory risks.
- Stay current on changes in banking regulations, industry trends, fraud schemes, and emerging compliance threats.
Fraud Prevention and Investigations
- Oversee fraud prevention and detection across debit cards, credit cards, electronic payments, person-to-person transfers, account-to-account transfers, checks, branch transactions, and digital banking.
- Lead the review and investigation of suspicious transactions and unusual customer activity.
- Oversee the preparation, review, and timely filing of required suspicious activity reports and currency transaction reports.
- Manage enhanced due diligence reviews and ongoing monitoring of high-risk customers.
- Coordinate with law enforcement regarding fraud, forgery, robberies, and other criminal activity.
- Oversee sanctions screening, investigate potential matches, and ensure required reporting and notifications are completed.
Team Leadership and Development
- Manage daily compliance operations, including investigation queues, alert volumes, case assignments, and reporting deadlines.
- Supervise, coach, and develop compliance team members while maintaining high standards for investigation quality and documentation.
- Review investigative work and reporting recommendations to ensure consistency, accuracy, and sound decision-making.
- Establish effective procedures for investigating, documenting, escalating, and reporting suspicious activity.
- Oversee hiring, performance reviews, employee development, and other management responsibilities.
Regulatory Relations and Risk Management
- Serve as a primary contact for regulatory examinations, independent audits, and compliance reviews.
- Coordinate examination preparation, documentation requests, findings, and corrective action plans.
- Oversee independent testing and validation of anti-money laundering monitoring systems and models.
- Work with internal teams and external technology providers to maintain and improve compliance systems and processes.
- Develop and deliver employee training on anti-money laundering, fraud prevention, sanctions compliance, and regulatory changes.
- Partner with senior leadership and finance on annual budgets, departmental goals, and compliance performance.
- Participate in management committees and special projects related to financial crime prevention and regulatory compliance.
Qualifications and Experience
- Bachelor's degree required.
- At least eight years of anti-money laundering and banking compliance experience within a retail financial institution.
- Strong knowledge of applicable banking regulations, including anti-money laundering requirements, sanctions regulations, customer identification requirements, and financial crime reporting obligations.
- Experience managing investigations, suspicious activity reporting, high-risk customer reviews, and fraud prevention programs.
- Knowledge of cannabis-related banking compliance is highly desirable.
- Demonstrated ability to lead, mentor, and develop compliance professionals.
- Experience supporting regulatory examinations, internal audits, independent testing, and remediation efforts.
- Strong analytical, investigative, and problem-solving skills, including the ability to interpret complex financial data.
- Proficiency with spreadsheets, compliance monitoring systems, and other relevant banking technology.
- Excellent written and verbal communication skills, with the ability to work effectively with senior leadership, employees, regulators, law enforcement, and third-party providers.
- Ability to manage competing priorities, meet regulatory deadlines, and handle confidential information with discretion.
- Relevant anti-money laundering certification required upon assuming the role or within the first two years of employment.
Working Environment
This position operates primarily in a professional office environment and requires regular computer use, communication with internal and external stakeholders, and the ability to manage competing demands.
Occasional extended hours may be necessary to meet regulatory deadlines or respond to urgent matters. Travel to bank locations within approximately 50 miles may be required.
Confidential Inquiries
MJK Connections is managing this search on behalf of a community banking partner. Qualified candidates are encouraged to reach out directly for a confidential discussion about the opportunity.
