SUMMARY DESCRIPTION:     

Banker will be required to collect, assess and maintain corporate documents that will support a solid, safe and sound relationship between customers/businesses and Safe Harbor.  Banker will evaluate the documents for concerns and issues that will place Safe Harbor and its assets in harm’s way, clear issues and ensure mitigating strategies exist within the business to protect Safe Harbor clients. Banker will be expected to provide service at a private banker levels that will exceed the normal banking relationship in the market; ensuring a long term loyal client relationship.  Banker is expected to KNOW the client business thoroughly and speak to their growth plans, changes in their environment, regulatory conditions and their basic service needs that will assist them in optimal performance while protecting our interests and avoiding legal/regulatory issues surfacing at Safe Harbor.

POSITION DUTIES:

DOCUMENT MANAGEMENT: 

• Banker will collect and evaluate corporate documentation and determine risk levels associated with the evaluation of corporate structure, financials and practices; working closely with Compliance Manager.
• Banker will maintain up to date documents on each assigned client throughout the year; ensuring the collection of expired licenses, leases, insurance, etc. and update files with said documents.
• Banker will determine when additional supporting documentation is required to ensure practices are in place to ensure the safety and soundness of the relationship between client and Safe Harbor.
• Banker will determine when documentation is insufficient to sustain a safe and sound relationship and make recommendations to close accounts that decrease the overall safety and soundness of the entire organization.
• Banker will review and evaluate financial documentation (income statement, balance sheets and tax documents) for interpretation of the business activities and resulting financial transactions that may impact the credit union.

SOURCE OF FUNDS/DEPOSITS:

• Banker will be required to monitor deposits and collect sufficient supporting documentation to validate deposits from legal activities that are reported to the state or federal entities.
• Banker will need to ensure funds that are not supported are not released to the client until sufficient support documentation is obtained outside normal sales activities that are validated monthly.
• Banker will be required to determine when reporting requirements for BSA/FINCEN are triggered due to insufficient documentation, resistance to substantiate or lack of transparency causes suspicious activity triggers according to FINCEN guidelines.
• Banker will need to determine what level of documentation is sufficient to validate source of funds and track documentation throughout the relationship with client.
• Banker will be responsible to discuss uncomfortable situations with the client when documents are not sufficient and work toward a quick resolution or action to terminate under the supervision of the Compliance Manager.

SERVICE

Banker will be required to meet standards of a private banking model to include

• Keeping the paperwork to a minimal level when appropriate
• Completing forms for client signatures
• Meeting on site regularly, according to the size of business, to discuss bank issues, client activities and strategic movements of the organization in order to ensure all transaction activities are justified.
• Understanding and taking an interest in the future of the business
• Ensuring Safe Harbor product and services meet the needs of the client as they grow.

MONITORING

• Banker will monitor account activity monthly to establish trends and patterns that predict future activity and analyze data for suspicious activities that might trigger BSA reporting.
• Banker will maintain solid, reliable records on monitoring that will be subject to compliance oversight regularly.
• Banker will be required to ensure interactions with clients are documented for compliance scrutiny.
• Banker will be required to monitor outgoing payments to ensure FINCEN guidelines / Red Flags are sufficiently addressed.
• Banker will be required to monitor reporting requirement for assigned clients and miss zero deadlines.

BSA/FINCEN GUIDELINES & COLE MEMO PRIORITIES

• Banker will be required to know the regulatory guidelines sufficiently to apply to all account and client activities.
• Banker will be required to maintain BSA Certification.
• Banker will be required to uncover or discover issues that trigger reporting, account holds/freezes and work with the Compliance Manager to take appropriate action.
• Banker will need to understand the ramifications of banking the industry on both a personal and professional level and protect the organization and themselves from any legal action.
• Banker will be required to monitor the industry for changes and trends that may impact banking.

BUSINESS EDUCATION

• Assist Businesses with bundling moneys, setting up secure pick-up/delivery services.
• Assist Businesses with determining services needed and making formal recommendations to the manager for approval.
• Assist Businesses with merchant services.
• Perform On-site verifications annually; understanding the basics of inspections enough to spot violations.
• Assist businesses with understanding the Safe Harbor model, required documentation and the objective of maintaining an above reproach level of transparency.

EXPECTATIONS:

• Maintain Confidentiality on policies, procedures and business model.
• Interface with IRS, DEA, FBI, DOR and any other agency on subpoenas & inquiries under the supervision of the Compliance Manager.
• Review and understand business financials.
• Train other Bankers as required.
• Determine when an account has violated rules or is out of compliance and discuss appropriate action and concerns with Compliance Manager for further action.
• Monitor state site for violations or alerts and licenses on businesses.
• Monitor news online on businesses to ensure full awareness of business activities and status.
• Document all business activities to the satisfaction of auditors and examiners.
• Annual review of Business accounts assigned.

1. Adhere to the institution privacy policy and signed NDAs with clients.
2. Be prompt and always follow through with members either verbal or otherwise.
3. Maintain a private banking atmosphere for the client.

REPORTS TO:     Compliance Manager

MANAGES STAFF:     None

GRADE: 12       EXEMPT STATUS

Salary: $45,161-$58,381 Depending on Knowledge and experience