Recruiter's Glossary

Examples: SARs • Remediation • Control Environment

BSA

Term from Compliance industry explained for recruiters

BSA, which stands for Bank Secrecy Act, is a key law that helps prevent money laundering in financial institutions. When you see "BSA" in resumes or job descriptions, it usually refers to work involving monitoring financial transactions, creating rules to catch suspicious activity, and making sure banks follow anti-money laundering laws. It's similar to AML (Anti-Money Laundering) compliance, and these terms are often used together. Think of it as a set of rules that banks and financial companies must follow to help prevent financial crime.

Examples in Resumes

Managed BSA compliance program for a regional bank with over 50 branches

Led team of 5 analysts in BSA/Bank Secrecy Act monitoring and reporting

Developed and implemented BSA training programs for 200+ employees

Typical job title: "BSA Officers"

Also try searching for:

BSA Analyst BSA Officer BSA Compliance Specialist BSA/AML Analyst Compliance Officer Bank Compliance Specialist Financial Crimes Specialist

Where to Find BSA Officers

Professional Associations

Online Communities

Job Boards

Example Interview Questions

Senior Level Questions

Q: How would you design a BSA compliance program for a bank with multiple branches?

Expected Answer: A strong answer should cover risk assessment, policy development, training programs, monitoring systems, and reporting procedures. They should mention experience managing teams and working with regulators.

Q: How do you handle complex suspicious activity investigations?

Expected Answer: Should explain their process for reviewing unusual transactions, gathering evidence, documenting findings, and making decisions about filing reports. Should mention experience with different types of financial crime patterns.

Mid Level Questions

Q: What are the key components of a Suspicious Activity Report (SAR)?

Expected Answer: Should be able to explain the basic elements of a SAR, including timing requirements, what triggers a filing, and the importance of narrative writing.

Q: How do you ensure ongoing BSA compliance in daily banking operations?

Expected Answer: Should discuss monitoring transactions, training staff, reviewing documentation, and staying updated on regulatory changes.

Junior Level Questions

Q: What is the purpose of the Bank Secrecy Act?

Expected Answer: Should explain that BSA helps prevent money laundering and requires banks to report certain transactions and keep records to help law enforcement.

Q: What is a Currency Transaction Report (CTR)?

Expected Answer: Should explain that CTRs are required for cash transactions over $10,000 and describe basic filing requirements.