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Hingham Institution for Savings Hingham, Massachusetts, United States

About Hingham Institution for Savings

Incorporated in 1834, Hingham Institution for Savings is one of America’s oldest banks. The Bank provides commercial mortgage and relationship banking services in Boston, Nantucket, Washington, D.C. and the San Francisco Bay Area. Publicly-traded but family-run since 1993, our objective has been to build one of America’s great banks, characterized by superior long-term financial results, a fortress balance sheet that provides unquestionable assurance to our depositors, and an enduring culture of growth and success. We have a small, entrepreneurial team - just under 100 people - and we hold ourselves to high standards.

About the role
The BSA Officer administers and maintains all aspects of the Bank's BSA/AML Compliance Program, including the elevated due diligence and monitoring standards that apply to the Bank's foreign mission banking relationships. The BSA Officer ensures the Program meets a high standard of compliance with BSA/AML laws, regulations, internal policies, and regulatory expectations, and serves as the Bank's designated subject-matter expert on the unique risk profile of diplomatic and foreign government accounts. The role reports directly to the Bank's Chief Compliance Officer, partners closely with the Bank President to evaluate and make recommendations on relationship risks, and oversees the BSA Analyst. This is a highly visible position with direct exposure to the Board of Directors, executive management, and federal and state regulators. This role requires in-office presence, with a preference for candidates based in Massachusetts or Washington, D.C.

Responsibilities

• Program leadership: Coordinate and oversee a strong, Bank-wide BSA/AML/OFAC Compliance Program that meets regulatory requirements and reflects current industry best practices – including the unique due diligence and monitoring program for the Bank's foreign mission banking relationships. Primary program components include but are not limited to:
• Regulatory reporting, including Currency Transaction Reporting, Suspicious Activity Reporting, 314(a) responses, and OFAC correspondence
• Customer Identification and Verification across all business lines and products
• Customer Due Diligence and Enhanced Due Diligence commensurate with customer and product risk, including initial and ongoing due diligence associated with foreign mission relationships
• Suspicious activity monitoring, including monitoring foreign mission accounts for activity inconsistent with a mission's official purpose Bank-wide compliance with BSA recordkeeping and notice requirements
• Systems oversight: Oversee and administer the Bank's automated BSA/AML monitoring and reporting platform, ensuring the Bank remains current on system functionality and that system parameters and thresholds – including those calibrated to foreign mission and other specialized deposit accounts – remain valid and effective.
• High-risk relationships: Oversee and monitor higher-risk customer relationships, including research and analysis to support customer onboarding decisions across all business lines. Serve as the Bank's BSA/AML subject-matter expert for the Specialized Deposit Group's foreign mission banking practice, applying the risk-based framework in FFIEC/FinCEN interagency guidance on accepting accounts from foreign embassies, consulates, and missions, and partnering with the SDG relationship team on account risk-rating and due diligence decisions for embassies, consulates, and other accredited foreign missions.
• Sanctions compliance: Oversee the Bank's OFAC compliance program and act as subject-matter expert and resource for all sanctions screening matters, including diplomatic and foreign government account screening.
• Risk assessment: Update the Bank's BSA/AML and OFAC risk assessments at least annually, incorporating distinct risk factors associated with foreign mission and other specialized deposit accounts, such as country risk, transaction volume and currency handling, and consistency of activity with the account's stated purpose.
• Audit and exam management: Lead the annual program self-assessment, coordinate with the Bank’s internal auditor that reviews the program, and independently manage the annual regulatory BSA examination, including matters touching the foreign mission banking portfolio.
• Governance reporting: Prepare and present regular BSA/AML program reporting for the Board of Directors and executive management, including risk trends specific to the foreign mission banking portfolio, and advise executive management on emerging BSA/AML and sanctions considerations tied to existing relationships and prospective mission clients.
• Training: Oversee and administer the Bank's BSA/AML training program, including specialized training for staff supporting foreign missions and other higher-risk relationships.
• Regulatory change management: Monitor changes to BSA laws and regulations – including the Foreign Missions Act of 1982 and related State Department guidance – assess their potential impact on Bank products and services, and implement necessary changes to existing policies and procedures. Coordinate with the State Department's Office of Foreign Missions as needed on banking access and compliance matters affecting accredited missions.

Qualifications

• B.A. in a related field required; advanced degree a plus
• Seven or more years of progressive experience administering an effective bank BSA/AML Compliance Program, with demonstrated success managing regulatory examinations and audits
• CAMS (Certified Anti-Money Laundering Specialist) or CBAP (Certified BSA/AML Professional) certification required, or must be obtained within 12 months of hire
• Direct experience with high-risk or specialized customer types – such as foreign missions, embassies, politically exposed persons, or money services businesses – strongly preferred
• Working knowledge of the Bank Secrecy Act, USA PATRIOT Act, OFAC/sanctions regulations, and FFIEC/FinCEN guidance on foreign government and foreign mission accounts
• Positive attitude and strong partnership orientation, with the ability to support business units in the design and implementation of BSA-compliant systems and products
• Ability to manage multiple tasks simultaneously and appropriately prioritize based on potential exposure to regulatory and financial risk
• Strong written and verbal communication skills, including the ability to organize and present ideas and information in a simple, concise, and unambiguous manner
• Ability to interact effectively with all levels of management, regulators, examiners, Board members, and foreign mission stakeholders
• Resilient and able to work autonomously in the face of ambiguity
• Experience with Verafin, a plus

About Hingham Institution for Savings

Incorporated in 1834, Hingham Institution for Savings is one of America’s oldest banks. The Bank provides commercial mortgage and relationship banking services in Boston, Nantucket, Washington, D.C. and the San Francisco Bay Area. Publicly-traded but family-run since 1993, our objective has been to build one of America’s great banks, characterized by superior long-term financial results, a fortress balance sheet that provides unquestionable assurance to our depositors, and an enduring culture of growth and success. We have a small, entrepreneurial team - just under 100 people - and we hold ourselves to high standards.

About the role
The BSA Officer administers and maintains all aspects of the Bank's BSA/AML Compliance Program, including the elevated due diligence and monitoring standards that apply to the Bank's foreign mission banking relationships. The BSA Officer ensures the Program meets a high standard of compliance with BSA/AML laws, regulations, internal policies, and regulatory expectations, and serves as the Bank's designated subject-matter expert on the unique risk profile of diplomatic and foreign government accounts. The role reports directly to the Bank's Chief Compliance Officer, partners closely with the Bank President to evaluate and make recommendations on relationship risks, and oversees the BSA Analyst. This is a highly visible position with direct exposure to the Board of Directors, executive management, and federal and state regulators. This role requires in-office presence, with a preference for candidates based in Massachusetts or Washington, D.C.

Responsibilities

• Program leadership: Coordinate and oversee a strong, Bank-wide BSA/AML/OFAC Compliance Program that meets regulatory requirements and reflects current industry best practices – including the unique due diligence and monitoring program for the Bank's foreign mission banking relationships. Primary program components include but are not limited to:
• • Regulatory reporting, including Currency Transaction Reporting, Suspicious Activity Reporting, 314(a) responses, and OFAC correspondence
  • Customer Identification and Verification across all business lines and products
  • Customer Due Diligence and Enhanced Due Diligence commensurate with customer and product risk, including initial and ongoing due diligence associated with foreign mission relationships
  • Suspicious activity monitoring, including monitoring foreign mission accounts for activity inconsistent with a mission's official purpose Bank-wide compliance with BSA recordkeeping and notice requirements
• Systems oversight: Oversee and administer the Bank's automated BSA/AML monitoring and reporting platform, ensuring the Bank remains current on system functionality and that system parameters and thresholds – including those calibrated to foreign mission and other specialized deposit accounts – remain valid and effective.
• High-risk relationships: Oversee and monitor higher-risk customer relationships, including research and analysis to support customer onboarding decisions across all business lines. Serve as the Bank's BSA/AML subject‑matter expert for the Specialized Deposit Group's foreign mission banking practice, applying the risk‑based framework in FFIEC/FinCEN interagency guidance on accepting accounts from foreign embassies, consulates, and missions, and partners with the SDG relationship team on account risk‑rating and due diligence decisions for embassies, consulates, and other accredited foreign missions.
• Sanctions compliance: Oversee the Bank's OFAC compliance program and act as subject‑matter expert and resource for all sanctions screening matters, including diplomatic and foreign government account screening.
• Risk assessment: Update the Bank's BSA/AML and OFAC risk assessments at least annually, incorporating distinct risk factors associated with foreign mission and other specialized deposit accounts, such as country risk, transaction volume and currency handling, and consistency of activity with the account's stated purpose.
• Audit and exam management: Lead the annual program self‑assessment, coordinate with the Bank’s internal auditor that reviews the program, and independently manage the annual regulatory BSA examination, including matters touching the foreign mission banking portfolio.
• Governance reporting: Prepare and present regular BSA/AML program reporting for the Board of Directors and executive management, including risk trends specific to the foreign mission banking portfolio, and advise executive management on emerging BSA/AML and sanctions considerations tied to existing relationships and prospective mission clients.
• Training: Oversee and administer the Bank's BSA/AML training program, including specialized training for staff supporting foreign missions and other higher‑risk relationships.
• Regulatory change management: Monitor changes to BSA laws and regulations – including the Foreign Missions Act of 1982 and related State Department guidance – assess their potential impact on Bank products and services, and implement necessary changes to existing policies and procedures. Coordinate with the State Department's Office of Foreign Missions as needed on banking access and compliance matters affecting accredited missions.

Qualifications

• B.A. in a related field required; advanced degree a plus
• Seven or more years of progressive experience administering an effective bank BSA/AML Compliance Program, with demonstrated success managing regulatory examinations and audits
• CAMS (Certified Anti‑Money Laundering Specialist) or CBAP (Certified BSA/AML Professional) certification required, or must be obtained within 12 months of hire
• Direct experience with high‑risk or specialized customer types – such as foreign missions, embassies, politically exposed persons, or money services businesses – strongly preferred
• Working knowledge of the Bank Secrecy Act, USA PATRIOT Act, OFAC/sanctions regulations, and FFIEC/FinCEN guidance on foreign government and foreign mission accounts
• Positive attitude and strong partnership orientation, with the ability to support business units in the design and implementation of BSA‑compliant systems and products
• Ability to manage multiple tasks simultaneously and appropriately prioritize based on potential exposure to regulatory and financial risk
• Strong written and verbal communication skills, including the ability to organize and present ideas and information in a simple, concise, and unambiguous manner
• Ability to interact effectively with all levels of management, regulators, examiners, Board members, and foreign mission stakeholders
• Resilient and able to work autonomously in the face of ambiguity
• Experience with Verafin, a plus