BSA Specialist

POSITION RESPONSIBILITIES

• Complete all daily Bank Secrecy Act (BSA) reporting for the credit union, such as:
  • Process all Currency Transaction Reports (CTRs) for the credit union as required.
  • Review and analyze alerts and reports produced by Verafin and internal Request for Investigations (RFIs) to determine if member is structuring cash transactions; investigate and gather supporting documentation to provide recommendations to the Compliance Officer and SAR Committee regarding the filing of a Suspicious Activity Report (SAR).
  • Analyze and track the purchase of Monetary Instruments with cash as required.
  • Monthly and annually, provide report for the board members regarding the number of filings for CTRs and SARs by region.
  • Bi-weekly run the 314a scan against entire membership through Verafin. Reporting any matches to the Compliance Officer immediately.
  • Manually run an OFAC search for any miscellaneous ACH or bill payment presented by Accounting Department. Report any direct matches to the Compliance Officer immediately.
  • Assist with review of newly opened business accounts to determine the appropriate CIP information was documented. Use Verafin to monitor risk ratings and perform evaluations of new and existing business memberships to determine the appropriate annual risk rating.
  • Annually, prepare review and analysis of Money Service Businesses (MSBs) with mailed questionnaire and on-site visits.
  • Annually, prepare review and analysis of Exemptions for CTR filing of business members.
• Regularly report to the Compliance Officer the status of duties, projects and assignments.
• Keep current and knowledgeable about BSA compliance issues and regulations through resources which may include newsletters, webinars or seminars.
• Assist team members with compliance questions or issues.
• Annually, prepare and process Conflict of Interest forms for all team members and board members.
• Assist with the evaluation the Credit Union’s policies, procedures, products, and programs to ensure compliance with applicable laws and regulations and to assess risk potential of the same. Make recommendations for change where appropriate to ensure compliance and minimize loss exposure.
• Assist in the revision and/or design of forms, products, web site, programs, or materials to ensure compliance with all State and Federal rules and regulations.
• Serve as the designated back-up Compliance Officer for the credit union.
• Additional duties are assigned.

EDUCATION AND EXPERIENCE

• Associates degree (A.A.) or equivalent from a 2-year college or technical school; plus at least three or more years of previous experience in a financial industry. Related work experience may substitute for education.

KEY COMPETENCIES

• Use effective judgment to make sound decisions while minimizing the Credit Union’s exposure to risk.
• Team-oriented.
• 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.
• Demonstrated or potential 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 routine 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.
• Knowledge of 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.

Verve, a Credit Union is an Equal Opportunity employer. Minorities, women, veterans and individuals with disabilities are encouraged to apply.