BSA/AML Risk Specialist

PRIMARY OBJECTIVE OF POSITION

This position supports the credit union’s Compliance Officer and the credit union’s Bank Secrecy Act (BSA) Program to include, but not limited to, compliance with the NCUA Rules and Regulations, USA Patriot Act, the Anti-Money Laundering Act (AML), Office of Foreign Assets Control (OFAC), the Customer Identification Program (CIP), and all other BSA related rules and regulations. It is comprised of clerical and administrative functions associated with the daily monitoring of financial transactions. ESSENTIAL JOB FUNCTIONS

1. Monitor, track, and document research of unusual member account activity utilizing the Credit Union’s AML software systems, reports, core processor, and all other applicable systems.

2. Acknowledge and investigate daily risk alerts related to potential money laundering and other violations of the Bank Secrecy Act.

3. Perform research on suspicious activity/transactions escalated from electronic alerts, staff notifications of red flags, law enforcement notices and inquiries, and any other related alerts.

4. File Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) timely.

5. Identify BSA/AML risk potential arising from member, employee and vendor suspicious transactions and escalates findings to the Compliance Officer.

6. Assist with periodic samplings of member transactions, to include behavior and due diligence reviews.

7. Monitor the staff’s adherence to policies for accuracy and report findings to the Compliance Officer.

8. Support the Compliance Officer with various daily administrative duties including, but not limited to, gathering, organizing, and preparing documents and reports.

9. Monitor daily OFAC activity and conduct OFAC checks as necessary.

10. Research and prepare subpoena documentation requests.

11. Research and prepare Writs of Garnishments.

12. Assist the Compliance Officer in completing 314(a) downloads.

13. Assist the Compliance Officer in maintaining a list of high risk accounts.

14. Work on special projects as assigned.

15. Performs other duties as assigned.

JOB SPECIFICATIONS

High school diploma or equivalent required. Associates degree or equivalent from two-year college or technical school preferred. Minimum of 2 years banking experience required. Minimum of 2 years related work experience in AML/BSA/OFAC preferred. Computer proficiency working with spreadsheets and data systems required. Must be logical, analytical and detail oriented. Must possess excellent verbal and written communication skills.

PHYSICAL REQUIREMENTS

Physical requirements are minimal but position involves wrist/hand manipulation with frequent viewing of computer monitor and sitting for long periods of time. Must be able to speak clearly and hear effectively in order to assist members over the telephone.

EQUIPMENT SKILLS

Personal computer with windows environment, copy machine, calculator and scanner.