Sr. BSA Specialist

Description

POSITION SUMMARY

The Senior BSA Specialist serves the Risk management team by being a tactical leader for the overall compliance efforts of the credit union to ensure the credit union’s risks are mitigated and all regulations are being followed. This role involves providing insight into overall strategic decisions, advanced analysis, and leadership in the areas of Anti-Money Laundering (AML), Combating the Financing of Terrorism Compliance (CFT), and OFAC compliance.

POSITION RESPONSIBILITIES

General Responsibilities

• Lead and oversee daily Bank Secrecy Act (BSA) alert monitoring for the credit union.
• Conduct advanced review and analysis of alerts and reports produced by Verafin and internal requests for investigation (RFIs) to identify potential money laundering or terrorist activities.
• Provide expert recommendations to the Compliance Officer regarding the filing of Suspicious Activity Reports (SARs)
• Lead investigations into business member behaviors detected from AML monitoring software alerts and SAR filings, including direct member contact when necessary.
• Develop and maintain a comprehensive schedule for performing Enhanced Due Diligence (EDD) on high-risk business members relationships, including ATM Owners, Money Service Businesses, and Non-Profits. Utilize monitoring software to monitor risk ratings and ensure appropriate EDD reviews, including on-site visits if necessary.
• Document and oversee Customer Due Diligence (CDD) on current business members and beneficial owners in monitoring software, ensuring detailed descriptions of business models and behaviors. 
• Review newly opened business accounts to determine if the appropriate CIP information was documented. 
• Report any exact OFAC matches to the Compliance Officer immediately and oversee the remediation process.
• Prepare, review, and analysis of Exemptions for Currency Transaction Reports (CTR) filing of business members annually.
• Regularly report to the Compliance Officer the status of duties, projects and assignments for the AML department.
• Keep current and knowledgeable about BSA compliance issues and regulations through resources which may include newsletters, webinars or seminars.
• Provide expert guidance team members with compliance questions or issues.
• Evaluate and enhance the Credit Union’s policies, procedures, products, and programs to ensure compliance with applicable laws and regulations and to assess potential risks of the same.
• Lead the revision and/or design of forms, products, web site, programs, or materials to ensure compliance with all State and Federal rules and regulations.
• Prepare the monthly reporting to the Board of Directors or Board Committee the required reporting requirements under the Credit Union’s program.
• Serve as the designated back-up BSA Officer for the credit union.
• Instruct and guide new team members in the department to the Credit Union’s policies, procedures, and systems.
• Assisting with Learning & Development and the Compliance Officer the training and continuing education for AML/CFT/OFAC requirements.
• Additional duties are assigned.

Qualifications

EDUCATION AND EXPERIENCE

• Bachelor’s Degree (B.A.) or equivalent from a 4-year college or university; plus at least five or more years of previous experience in the financial institution industry.  Related work experience may substitute for education.
• Certified Anti-Money Laundering Specialist (CAMS) or equivalent certification preferred.

KEY COMPETENCIES

• Demonstrated expertise in making sound decisions while minimizing the Credit Union’s exposure to risk.
• Works within organizational standards and guidelines to achieve the overall mission of the organization.
• Superior communication skills to effectively listen and disseminate information; an outgoing professional demeanor/appearance required.
• Proven ability to work independently, handle multiple priorities, exercise good judgment and employ initiative.
• Excellent understanding of regulations applicable to credit unions.
• Must have capability to address and resolve problems involving several variables in standardized situations.
• Ability to write detailed reports and correspondence.
• Ability to read and interpret a variety of instructions furnished in written, oral, diagram, or schedule form such as regulations and procedure manuals.
• Solid knowledge of Compliance functions, responsibilities and procedures. 
• Proficiency in the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Ability to operate standard office equipment and tools, such as a personal computer terminal, keyboard and mouse with visual monitor, calculator, computer printer, fax machine, telephone, photocopier, scanner, and security system.

PHYSICAL DEMANDS AND WORK ENVIRONMENT

• Work Environment: Business office, the noise level in the work environment is usually quiet to moderate.
• Physical Requirements: Ability to sit or stand at a desk the majority of the day; talk or hear; stand or walk occasionally. While performing the duties of this job, the team member is typically utilizing a computer, keyboard, and phone.  May occasionally reach with hands and arms; stoop, kneel, and crouch.

WHAT DO WE OFFER?

BENEFITS

• Medical, dental and vision insurances
• Supplemental insurances
• Pre-tax and Roth 401(k) Safe Harbor options
• Flexible spending accounts
• Health Savings Account (HSA)
• Paid time off (PTO)
• Paid holidays, including birthday
• Bereavement and pet leave
• Basic Life/AD&D, short-term and long-term disability coverage at no cost
• Voluntary Life/AD&D
• Employee Assistance Program

The above information has been designed to indicate the general nature and level of work performed by persons within this job this job classification. It is not designed to contain or be interpreted as a comprehensive inventory of all the duties, responsibilities, and qualifications required of persons assigned to this job. Additional duties may be required to perform the job effectively.

Salary : $25 - $31