Who We Are

Seattle Bank is a locally owned, digitally driven financial institution that provides personal, business and partner banking services and the website, CD Valet. Our experienced team and open API, cloud-based core technology platform deliver a boutique bank experience for clients with interwoven personal and business financial needs. Our highly configurable and scalable tech stack also supports partner banking that enables companies to embed banking transactions into their customer online experience. Seattle Bank’s most recent innovation is CD Valet, a new online marketplace that connects consumers to financial institutions to compare and open Certificates of Deposit (CDs) with the most competitive rates and terms nationwide. Seattle Bank is a wholly owned subsidiary of Seattle Bancshares, Inc., a privately held bank holding company. Visit Seattle Bank for more information.

Position Summary

The BSA Specialist will support all aspects of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC), and USA Patriot Act to ensure Seattle Bank is compliant with all appropriate regulations. This position will perform a wide variety of BSA-related functions including Currency Transaction Reports (CTRs), conducting account research, evaluating AML alerts to mitigate risk, reviewing potential OFAC matches, performing enhanced due diligence, and validating risk ratings.  

Essential Duties

• Maintain proficient knowledge of the BSA and related anti-money laundering regulations, as well as OFAC regulations, and federal and state laws.
• Maintain a current understanding of Bank policies and procedures.
• Retain current knowledge of fraud trends and activities indicative of fraud.
• Participate in activities directly related to BSA/AML and state and federal regulations and monitoring requirements. 
• Create, review, and validate procedures related to BSA/AML policy and program. 
• Assist with the FinTech Partnership BSA Compliance management program. 
• Review AML alerts to mitigate risk and perform investigations. 
• Perform BSA/AML transaction monitoring and reviews to ensure compliance, including investigating and resolving AML alerts, and CDD/EDD reviews. 
• Participate in the questionable activity review process.
• Prepare monthly department certifications.
• Review and respond to potential OFAC matches.
• Assist the BSA Officer in performing 314(a) searches.
• Conduct periodic enhanced due diligence reviews for higher-risk customers. 
• Assist BSA Officer with audit preparation. 
• Prepare CTRs while maintaining a thorough knowledge of regulatory requirements, including the proper completion of related electronic forms and submission within required deadlines. 
• Perform fraud investigations.
• Assist with training programs. 
• Perform all other duties as assigned.

• Bachelor's degree in business, finance, or accounting. An equivalent combination of education and relevant work experience may be considered. 
• Advanced knowledge of related state and federal banking BSA and AML regulations. 
• CAMS designation preferred. 
• Excellent communication skills (written and verbal). 
• Strong organizational skills and attention to detail. 
• Ability to analyze and synthesize large amounts of data. 
• Ability to conduct extensive research and apply data to improve BSA Program. 
• Ability to prioritize tasks and delegate as appropriate. 
• Ability to function well in a fast-paced environment. 
• Proficient with Microsoft Office Suite.

Seattle Bank Benefits

We’re committed to delivering our promise of peace of mind to our clients and fostering a collaborative, inclusive and supportive workplace for our team members. Our comprehensive benefits program for eligible employees includes: 

• Medical/Vision, and Dental insurance 
• Life Insurance, Long Term Disability, Voluntary Life 
• 401K with Bank contribution, Stock Award, and Incentive Opportunity  
• Paid Time Off:

Vacation – 3 Weeks

Sick Time – 1 hour per 40 hours worked

Holidays – 10 days

• Transportation and fitness benefits
• And fun, extra perks such as company social events, paid volunteer hours, quarterly incentive awards, and professional development opportunities.