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BSA / AML Specialist

BSA / AML Specialist

Job ID 
Job Locations 
US-CA-San Diego
Job Type 
Regular Full-Time
Governance, Risk and Compliance

More information about this job


BofI Federal Bank [NASDAQ: BOFI] with approximately $8.6 billion in assets, continues to be one of the fastest growing banks in the nation, and is rated in the top 5 of on-line banks in the country!

We rely on our employees’ collaborative creativity, intelligence, curiosity and innovation.    We’re tech-savvy problem-solvers who are competitive and hungry for success.


We are looking for a BSA / AML Specialist to assist the Third Party Risk and Compliance department as the overall BSA/AML, risk and compliance subject matter experts for various third party service providers and their activities.

Essential Duties and Responsibilities:

  • Identifies third party BSA/AML and compliance risks and ensures that proper controls, procedures, processes, and training are in place to mitigate such risks
  • Develops, implements, and oversees BSA/AML and compliance monitoring and oversight activities for prepaid, credit, and DDA accounts serviced by third parties
  • Works directly with various business units and third parties to ensure risk assessments are completed in compliance with regulatory requirements and Bank policies
  • Assists in monitoring and analyzing changes in applicable laws, regulations, and industry related news or events for all relevant subject matter
  • Educates various business units and third parties on risk and compliance, including but not limited to BSA/AML, due diligence/underwriting, multiple regulations, and applicable best practices
  • Coordinates with business units and third parties to ensure suspicious activity is detected and that potential SAR and CTR filing activities are reported
  • Perform Questionable Activity Report (QAR) and Enhanced Due Diligence (EDD) reviews and prepare Suspicious Activity Report (SAR) recommendations for third party activity
  • Ensures all necessary documentation is completed and on file
  • Produces management information reports for third party relationships and for senior management, designated committees and Board of Directors
  • Develop and/or update Bank and third party policies and procedures
  • Reviews and investigates potential 314(a), OFAC, and other government list matches, while properly documentation dispositions
  • Conducts reviews, investigations, and responds to law enforcement inquiries
  • Compiles responses to 314(b) information sharing requests

Key Skill Sets or Knowledge Requirements:

​The ideal candidate will have experience with:

  • Prepaid, credit, DDA, and lending products
  • All Bank regulations, with special focus on third party relationships, including Regulations B, DD, E, F, GG, P, V and Z, CARD Act, Red Flags Rule, MLA, SCRA, UDAAP, BSA/AML, due diligence/underwriting best practices, overdraft program best practices, Service members Civil Relief Act, and Military Lending Act knowledge
  • Monitoring oversight or audit experience
  • Regulatory and third party risk guidelines experience
  • Bachelor's degree in business related field and/or 3-5 year's equivalent experience in Prepaid, Credit, Banking, Compliance, Risk, BSA/AML, Legal, or Audit field

Desired Career Experience & Education Requirements:

  • Bachelor's degree in business related field
  • Over 3 year's equivalent experience in Prepaid, Credit, Banking, Compliance, Risk, BSA/AML, Legal, or Audit field
  • Ability to read, analyze, and interpret government regulations, legal documents and others as applicable
  • Demonstrated experience managing multiple and/or shifting priorities, producing professional and accurate work under time constraints
  • Strong analytical, detail-oriented, and problem-solving skills
  • Excellent written and verbal communication skills and experience with internal and external parties



Job Functions and Work Environment:


While performing the duties of this position, the employee is required to sit for extended periods of time. Manual dexterity and coordination are required while operating standard office equipment such as computer keyboard and mouse, calculator, telephone, copiers, etc.


The work environment characteristics described here are representative of those an employee may encounter while performing the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.



Equal Employment Opportunity:


BofI Federal Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex , gender identity and expression, sexual orientation, national origin, ancestry, citizenship status, uniform service member and veteran status, marital status, pregnancy, age, protected medical condition, genetic information, disability, or any other protected status in accordance with all applicable federal, state and local laws. Candidates must possess authorization to work in the United States.