BSA/AML Specialist

At OakStar, strong relationships are at the heart of everything we do—including how we work together. Since 2005, we’ve grown from a single location in Springfield, Missouri, into a trusted, multi-state financial institution serving communities across Missouri, Kansas, and Colorado. As an SBA Preferred Lender and a recognized leader in small business banking, our work supports local economies and meaningful growth—giving our team members the opportunity to make real, visible impact through their roles. 

Working at OakStar means joining a fast-paced, collaborative, and supportive team guided by our SERVE values—stewardship, empathy, responsiveness, vision, and empowerment. We’re committed to service excellence, giving back to our communities, and fostering a workplace where team members are supported. Comprehensive benefits include health, dental, vision, life, and disability insurances, as well as 401(k), 401(k) match, paid time off, and paid holidays.

Summary

The BSA/AML Specialist plays a critical role in maintaining the bank's compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) laws, the USA PATRIOT Act, and related regulations. This role supports the bank's compliance program by monitoring transactions, analyzing alerts, and investigating suspicious activity. This role is critical in identifying and mitigating risks related to money laundering and financial crimes as well as maintaining regulatory compliance. The BSA/AML Specialist possesses strong analytical skills and keen attention to detail. 

Essential Duties

• Monitor daily transaction activity for suspicious or unusual behavior using the bank’s AML software and manual processes.

• Investigate alerts, cases, and reports generated by transaction monitoring systems and escalate as necessary.

• Conduct thorough investigations to identify potential suspicious activity.

• Prepare and file Currency Transaction Reports (CTRs) within required regulatory time frames. Ensure  completeness, accuracy, and quality of FinCEN report filings.

• Assist in BSA investigations.

• Maintain detailed documentation supporting filing decisions and investigative outcomes.

• Conduct OFAC (Office of Foreign Assets Control) screening of new and existing customers.

• Review and clear OFAC alerts, escalating any true matches to the BSA Officer.

• Assist with blocking and rejecting transactions as required by OFAC regulations.

• Assist in the execution and review of the Customer Identification Program (CIP), Know Your Customer (KYC), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) processes.

• Monitor high-risk customers and accounts (e.g., MSBs, PEPs, non-resident aliens). 

• Perform periodic reviews of high-risk customers and updates of customer risk profiles.

• Assist in reviewing, revising, or creating BSA/AML procedures.

• Assist with internal and external audits and regulatory exams, including document preparation and communication.

• Assist with compliance reviews, risk assessments, and internal audits related to BSA/AML/OFAC.

• Share knowledge and collaborate with other BSA/AML team members.  

• Complete all required regulatory trainings, including assigned ABA courses.

• Stay up-to-date on changes to BSA/AML and OFAC regulations and industry best practices, ensuring compliance with federal and state requirements.

Secondary Duties

The BSA/AML Specialist performs duties specific to the position and other functions as assigned.

Responsibilities 

• Ensure compliance with all bank policies and procedures, as well as all applicable state and federal banking regulations.

• Treat people with respect, keep commitments, inspire the trust of others, work ethically and with integrity, uphold the bank’s values, and accept responsibility for one’s own actions.

• Demonstrate knowledge of and adherence to EEO policy, show respect and sensitivity for cultural differences, educate others on the value of diversity, promote a working environment free of harassment of any type, and value a diverse workforce.

• Follow policies and procedures, complete tasks accurately and on time, support the bank’s goals and values, and benefit the bank through outside activities.

• Perform the position safely, without endangering the health or safety of yourself or others, and report potentially unsafe conditions to management. Comply with occupational safety and health standards and all rules, regulations, and orders issued pursuant to the OSHA Act of 1970 that are applicable to one’s position at the bank.

• Possess and maintain a current driver's license and a vehicle with appropriate insurance coverage. Both are required to drive while performing assigned duties and responsibilities. 

• Possess and maintain adequate skills in computer operation, including email, word processing, spreadsheet, and specialty software programs.

• Possess and maintain adequate typing skills to meet the needs of the position.

• Possess and maintain adequate math skills to meet the needs of the position. This may include the ability to count currency and coin, calculate interest, balance accounts, add, subtract, multiply, and locate routine mathematical errors.

• Practice effective and efficient organizational and time management skills.

• Be able to work with general supervision while performing duties.

• Use effective oral, written, and interpersonal communication skills. This includes the ability to apply common sense when carrying out instructions, interpreting documents, understanding procedures, writing reports and correspondence, and speaking clearly to customers and employees.

• Be able to deal with routine problems involving multiple facets and variables in standardized situations.

Supervisor Responsibility

The BSA/AML Specialist is not responsible for the supervision of any employee(s).

Environment, Physical & Mental Demands

The environment for this position is primarily a non-confined office-type setting in which employees are free to move about at will. This environment may include some minor annoyances, such as noise, odors, drafts, temperatures, etc.

Physical demands include writing, typing, speaking, listening, lifting (up to 25 pounds), driving, carrying, seeing (such as close, color and peripheral vision, depth perception, and adjusted focus), sitting, walking, standing, squatting, kneeling, and reaching.  

Mental demands include analytical reasoning, reading and understanding documents or instruments, performing detailed work, following directions, problem solving, providing effective customer or employee communication, performing accurate math calculations, understanding language, engaging in effective verbal and written communication, enduring stress, conducting multiple concurrent tasks, and withstanding constant interruptions.

Physical and mental demands also include correct usage of the following equipment: telephones, cellular phones, copy and fax machines, adding machines or calculators, encoders, money counters, credit card terminals, postage machines, cash recyclers, vaults, computers, and related printers.  

Work environment characteristics, physical demands, and mental demands are representative of those an employee encounters while performing the essential functions of this job and represent the knowledge, skill, and/or ability required to perform the job in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.

These qualifications are general guidelines normally considered essential to the satisfactory performance of this position. The specifications listed below are representative of the knowledge, skill, and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviations from these qualifications.

• Associate's or Bachelor’s degree in Finance, Accounting, Criminal Justice, or a related field preferred.

• Minimum 1+ year(s) of banking experience.

• Experience with AML software systems.

• Strong knowledge of BSA/AML, USA PATRIOT Act, OFAC, and related FinCEN regulations.

• Strong analytical and investigative skills with the ability to assess complex data and identify suspicious activities.

• Detail oriented with strong organizational skills, with the ability to to work under pressure and meet deadlines.

• Strong time management skills with the ability to work independently and as part of a team in a fast-paced, deadline-driven environment. 

• Effective written and verbal communication skills.

• Proficient in Microsoft Office Suite (Outlook, Word, Excel).

• Strong ethical standards and commitment to confidentiality.

• Ability to maintain confidentiality and handle sensitive information with integrity.

• Ability to work overtime during peak periods or to meet deadlines.
 

Management reserves the right to change this position description at any time according to business needs.