Compliance Risk Analyst

The Compliance Risk Analyst is responsible for the compliance of BSA, Anti-Money Laundering (AML), US Patriot Act, OFAC, and compliance with other regulatory requirements, as well as identifying, assessing, monitoring, and reporting compliance risks within the credit union. This role ensures adherence to applicable laws, regulations, and internal policies while supporting a strong culture of compliance and ethical conduct. The analyst works cross-functionally to evaluate controls, recommend improvements, and mitigate regulatory and operational risks.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

1. Maintaining the BSA program- Filing CTR and SAR’s
2. Analyze AML Reports, Suspicious Activity Reports in relation to the BSA Program
3. Perform BSA Risk Assessments periodically
4. Oversee and manage all aspects of OFAC & 314(a) monitoring.
5. Participates in 314(b) information sharing
6. Monitor completion of CDD, SIP, KYC performed by the front-line personnel.
7. Monitors BSA/OFAC/New Accounts alerts utilizing various internal reports and Verafin AML/BSA/ Fraud detection 
    software
8. Ensure enterprise-wide compliance with regulations, established standards, policies, and procedures
9. Make corrective action recommendations to the AVP, Risk Management to remedy compliance violations or deficiencies
10. Updates the BSA/AML & OFAC policies, procedures, and risk assessments when applicable
11. Performs various quality control reviews and monitors all areas concerning BSA
12. Assist with compliance audits and regulatory examinations
13. Manage lists of accounts identified by the Credit Union as high risk through Verafin
14. Assist Internal Auditor with BSA compliance training to board, volunteers and executives
15. Assist in Procedural Updates and Creation for Frontline Operations when necessary
16. Assist with fraud research and act as backup to Senior Fraud Analyst 
17. Work with Department Heads to assist with responses for external audits/exams 
18. Understand credit union financial rules and regulations, including the ability to apply relevant risk review procedures in the functional area 
19. Ensure SAR supporting work papers are accurate, concise, well-organized, properly cross-referenced, support conclusions, and are maintained
20. Accurately and concisely, document preliminary findings and recommendations
21. Collaborate with law enforcement and other financial institutions when researching and resolving suspicious activity
22. Performs other duties as assigned

Requirements:

• Associates degree/Specialized certification or a combination of education and experience
• 3-5 years of compliance, risk management, audit, or a related function within financial services (credit union or banking preferred).
• Credit Union Compliance Officer (CUCO), preferred or obtained within two years
• Certified Bank Secrecy Act Professional (CBSAP), preferred or obtained within two years

Competencies:

• Strong understanding of financial regulations and compliance frameworks.
• Analytical mindset with the ability to assess complex risk scenarios.
• Excellent written and oral communication skills
• Excellent organizational skills
• Ability to prioritize, pay close attention to detail, and coordinate various activities simultaneously.
• Ability to communicate with co-workers, management, and business contacts in a courteous and professional manner.
• Ability to maintain strict confidentiality
• Ability to work independent of supervision