Bank Secrecy Act Officer Job Description

June 26, 2013 | By More

Bank Secrecy Act Officer Job Description Job Profile and Description

A bank secrecy act officer is one who is in charge of all the activities that entail implementation and monitoring of bank secrecy transactions in a bank. The role of a Bank Secrecy Act Officer is that of control and review which is most crucial for the continuation of a bank. The candidate needs to identify the key areas that require standard banking norms to be complied according to the banking law pertaining to the state.

The role of a Bank Secrecy Act Officer is continuous and essential for day to day operations of the bank without any deviation. It is the role of this officer in a bank that minimizes the risks involved in the banking industry and keeps levels of profitability high at all times. Apart from this the officer also performs supervisory duties wherein the entire team involved in maintaining bank secrecy are closely watched and monitored for adherence.

Bank Secrecy Act Officer Job Description Duties and Responsibilities

The duties and responsibilities of a bank secrecy act officer will involve:

  • The candidate has the primary responsibility of handling all bank secrecy transactions and implement anti money laundering procedures in the banking transactions as per management policy.
  • Work in tandem with compliance officer and other crucial activities of the bank that require maintenance of secrecy at all times.
  • Conduct periodical investigation of transactions that seem suspicious or appear fictitious in nature.
  • Submit reports for periodic investigation conducted for sensitive banking transactions and high ticket transactions as well.

Bank Secrecy Act Officer Job Description Skills and Specifications

The skills and specifications that are required of a bank secrecy act officer include:

  • Good time management skills
  • Effective organizational skills
  • Maintain a positive attitude towards work and life always.
  • Should be flexible to changes that require taking up additional related responsibilities on the job.
  • Should be able to work under situations of extreme pressure due to nature of job.
  • Extensive knowledge of compliance and banking regulations essential.

Bank Secrecy Act Officer Job Description Education and Qualification

The education and qualification requirements for a bank secrecy act officer are as follows:

  • Minimum qualification is a Bachelor’s degree in Finance or Banking from a reputed university.
  • Post graduate degree in finance related subject will prove to be an added advantage.

Bank Secrecy Act Officer Job Description Salary

The average salary of a bank secrecy act officer varies in the range of $60,000 to $80,000 per annum according to the education and experience background.

Category: Banking Job Descriptions

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