This role provides support to ensure the credit union meets compliance and regulatory requirements under the Bank Secrecy Act and related regulations. This position can perform all transactional BSA/AML and OFAC activities with a focus on those with higher regulatory risk, such as performing investigations, drafting Suspicious Activity Reviews (SARs), reviewing subpoenas and potential 314(a) / OFAC true matches, etc. Sufficient knowledge of transactional activities (e.g., CTR completion, Alert Monitoring) is required to perform periodic quality control reviews and may be required to perform transactional activities to assist other specialists where needed. This position must manage time appropriately to complete all tasks assigned. Any instances where performance expectations may not be met must be escalated to management.
Essential FunctionsBSA/AML Responsibilities: Preparation of all Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) submitted to the Financial Crimes Enforcement Network (FinCEN). Conduct CTR Exemption reviews on an annual and ad hoc (by request) basis. Conduct quality control/quality assurance reviews of CTRs and Monetary Negotiable Instrument Logs for accuracy and completion. Conducts investigations of suspicious activity reports received via alerts and/or employee referrals (Unusual Activity Referrals). Assist Service Centers, Call Centers, Consumer Lending, and Mortgage Lending, with mitigation of Red Flags associated with member accounts. Perform complex Enhanced Due Diligence (EDD) reviews and provide recommendations for behavioral adjustments, SAR recommendations, and other recommendations as appropriate. Conduct quality control review of International Wire Activity report review performed by other specialists to ensure potential suspicious wire activity and BSA violations are identified. Conduct quarterly Cannabis Related Business (CRB) reviews and prepare documentation for account closure presentation to management. Perform subpoena reviews and investigate for potential SAR filing. Conduct a review of the Customer Identification Program (CIP) report on a daily basis to ensure exceptions are resolved timely or to refer members for account restrictions or closure. Assists with other activities performed, if needed.Teamwork and People Development: Take and apply feedback received from management. Coordinates with other team members to ensure a thorough understanding of the subject matter and to solicit feedback. Meet with the management to discuss opportunities for training and/or development regarding themselves and other team members. Attempt to stay informed of developments within the credit union industry and BSA/AML and OFAC processes through reading publications, alerts, and training.Time Management: Manage time to complete assigned BSA/AML and OFAC activities efficiently and appropriately. Escalate potential concerns to management. Meet periodically with management to discuss the status of activities and raise potential concerns.Bank Secrecy Act: Remains cognizant of and adheres to Ent policies and procedures, and regulations pertaining to the Bank Secrecy Act.