Senior Bank Secrecy Act Specialist

We're always looking for diverse, talented, service-oriented people to join our exceptional team.

Senior Bank Secrecy Act Specialist

The pay range for this position is listed below. Our pay ranges are built to allow for candidates with various levels of skill and experience to be considered, as well as for room for growth and tenure achieved in a role over time. Typical new hire salary offers fall within the minimum to midpoint of a pay range for many candidates. Any offer extended to a candidate will be based upon their unique set of knowledge, skills, education, and experience as well as internal equity.

Pay Range:

$31.86 - $46.20

Scheduled Weekly Hours:

40

What You'll Be Doing

Assists with the implementation and administration of the Bank Secrecy Act, USA Patriot Act and Office of Foreign Assets Control (OFAC) policies that generally involve monitoring, identifying and reporting of suspicious activity related to potential money laundering activity or terrorist financing. Performs risk analysis, behavior reviews and account monitoring of high-risk individuals and prepares suspicious activity reports (SAR). Prepares and maintains documents and BSA reports for management.

• Serves as a resource of knowledge to team members on a broad range of issues concerning BSA and OFAC related compliance.

• Identifies investigative process improvement opportunities, responds to inquiries from internal business partners and provides content for various BSA/AML training initiatives.

• Conducts self-assessments and transaction testing as assigned; completes supporting test work and documentation in a professional and timely manner in accordance with compliance procedures and departmental standards and reports results to BSA Officer.

• Investigates internal and external fraud cases (creating narrative summary of investigation and results).

• Assists in testing and implementation of system upgrades while working collaboratively with vendors and other stakeholders.

• Assists with departmental projects and initiatives. Conducts research and analysis of process improvements to determine best practices and makes recommendations to management on how to improve current practices and processes and solve issues related to business unit.

• Identifies weaknesses in credit union policy and procedures which may place the credit union at financial risk and suggest improvements to those policies and procedures.

• Assists in management of BSA and OFAC compliance monitoring programs.

• Approves BSA Reports to ensure reports are filed timely and accurately.

• Performs daily review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large day to day account activity and determine if transactions are suspicious in nature.

• Participates in efforts to collect and analyze metrics utilizing existing internal reporting tools to continually improve processes and reports owned by the business unit.

• Review and file timely Currency Transaction Reports based on aggregated cash transactions including ATM and multiple branch deposits and/or withdrawals.

• Utilize BSA/AML automated system and various reports to identify suspicious activity and perform complex investigations to identify Bank Secrecy Act issues such as money laundering, terrorist financing, internal / external fraud schemes, structuring, and illegal money service business activity.

• Demonstrate proficiency in investigative practices associated with an experienced investigator (conduct interviews, collect data, compile documentation and evidence, maintain accurate notes, develop initial and ongoing reports of investigations, prepare comprehensive, accurate and timely Suspicious Activity Reports).

• Review and investigate OFAC alerts for a determination of actual OFAC match or false match, and respond to OFAC related questions from branches and various departments.

• Conduct enhanced due diligence searches on high-risk accounts and entities.

• Maintain the credit union's centralized list of customers exempt from large currency transaction reporting requirements.

• Research current laws and regulations through government and other journals, publications and manuals. Read, research, interpret and generally stay abreast of the requirements of the Bank Secrecy Act.

Additional Job Functions

• Performs other duties as assigned

• Complies with regulatory compliance and assigned training requirements including but not limited to BSA regulations corresponding to their specific job duties. Failure to do so may result in disciplinary and other employment related actions

Qualifications

• Bachelor's Degree in Business, Finance, Accounting, International Studies, Criminal Justice, or related field or equivalent years of experience required
• 3-5 years of related experience with BSA programs within the financial services industry and conducting investigations required
• CAMS - Certified Anti Money Laundering Specialist required

Knowledge, Skills, and Abilities

• Knowledge of concepts, practices and compliance techniques for the financial services industry

• Ability to understand complex legal and regulatory issues and laws.

• Understanding of methodologies for researching and analyzing compliance issues

• Understanding of reporting requirements of various regulatory agencies

• Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations

• Familiarity with Symitar system and reports a plus.

• Familiarity with anti-money laundering applications preferred.

SchoolsFirst FCU is committed to Diverse, Equitable, and Inclusive Hiring

At SchoolsFirst FCU we are dedicated to building and growing a diverse, inclusive, and authentic Dream Team, so if you're excited about a position or wanting to make a career change but your past experience doesn't align perfectly with every qualification in the job description, we encourage you to apply anyway. Many skills are transferrable and you may be just the right candidate for the position, or for other roles we are working on.

SchoolsFirst Federal Credit Union is committed to fostering, cultivating, and preserving a culture of diversity and inclusion. SchoolsFirst FCU is an equal opportunity employer and prohibits discrimination against qualified individuals based on their status as protected veterans or individuals with disabilities and prohibits discrimination against all individuals based on their race, color, religion, sex, national origin, age, sexual orientation, gender identity or expression, political affiliation, or genetic information.

This organization participates in E-Verify.