Avg. Base Salary (USD)
The average salary for a Bank Secrecy Act-Anti-Money Laundering (BSA/AML) Officer is $62,521
What is the Pay by Experience Level for Bank Secrecy Act-Anti-Money Laundering (BSA/AML) Officers?
An entry-level Bank Secrecy Act-Anti-Money Laundering (BSA/AML) Officer with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $51,102 based on 11 salaries. An early career Bank Secrecy Act-Anti-Money Laundering (BSA/AML) Officer with 1-4 years of experience …Read more
What Do Bank Secrecy Act-Anti-Money Laundering (BSA/AML) Officers Do?
A Bank Secrecy Act-Anti-Money Laundering (BSA/AML) officer is primarily responsible for understanding the regulations and laws related to the Bank Secrecy Act. Using this understanding, the BSA/AML officer helps implement rules and regulations within their bank; this includes identifying parameters to ensure the bank is in compliance with the BSA/AML regulations, as well as the Patriot Act. The employee must be self-motivated, as they must monitor, explain, and adjust the bank's operations …Read more
- Implement policies, procedures, and systems to ensure comprehensive customer identification, customer due diligence, and suspicious activity monitoring and reporting.
- Oversee BSA report preparation. Issue periodic reports of BSA review issues to senior and division managers.
- Resolve issues and problems with all levels of management throughout multi-bank environments responding to issues/problems as they occur.
- Develop an enterprise-wide BSA/AML risk assessment with consideration to products, services, customers, and geographies that may present BSA/AML related risks.
- Direct and perform special projects or audits as directed.