What are the responsibilities and job description for the BSA/Fraud Manager position at Cornerstone Resources?
BSA Officer & Fraud Manager
The BSA Officer & Fraud Manager plays a critical leadership role in safeguarding the Credit Union and its members by detecting, preventing, and investigating fraud and other illegal or inappropriate activities. This role is responsible for overseeing fraud risk management while leading the development, implementation, and administration of the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) programs.
Partnering closely with the Vice President of Risk Management, this position ensures the effectiveness of fraud prevention strategies and regulatory compliance initiatives. The Fraud Manager also serves as the designated BSA Officer.
Key Responsibilities
- Lead and manage fraud prevention controls across all channels, including checks, new accounts, debit/credit cards, ACH, wires, online/mobile banking, and remote deposit capture
- Develop, implement, and continuously enhance policies and procedures to detect and prevent fraud and illicit activity
- Conduct and oversee investigations into fraud and suspicious activity; coordinate recovery efforts to minimize losses
- Serve as liaison with local, state, and federal law enforcement agencies; support investigations and represent the Credit Union in legal proceedings
- Monitor emerging fraud trends, regulatory changes, and industry best practices to proactively mitigate risk
- Deliver fraud awareness training and education to employees across the organization
- Maintain and analyze fraud and BSA reporting; present insights to senior leadership and the Board of Directors
- Ensure compliance with BSA/AML and Office of Foreign Assets Control (OFAC) regulations
- Oversee timely and accurate filing of Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) with FinCEN
- Support internal and external audits, regulatory exams, and compliance reviews
- Provide strategic recommendations to strengthen BSA/AML and fraud risk programs
- Participate in projects and change initiatives to ensure regulatory risks are properly managed
Leadership & Supervision
- Lead, coach, and develop the Fraud and BSA team
- Oversee daily operations, workload distribution, and performance management
- Foster a culture of accountability, compliance, and continuous improvement
- Manage employee development, including training, evaluations, and disciplinary actions in accordance with company policy and applicable laws