BSA Compliance Specialist II
Specialize in the review of complex and high risk functions within the department to ensure regulatory compliance with SAR filing, CIP, CDD/EDD and 314(b) Information Sharing requests. The BSA Compliance Specialist II is responsible for the accurate and timely completion of SARs, by performing investigations of unusual or suspicious activity identified through the review of system generated alerts and inter-departmental communications. Perform Member Due Diligence and Enhanced Due Diligence reviews to ensure compliance with CIP and KYC requirements, as well as assist with the identification and monitoring of High Risk Members. Additionally, the Specialist III will assist the Lead Specialist with the timely completion and investigation of assigned 314(b) request.
TASKS, DUTIES, FUNCTIONS:
- Responsible for the investigation and reporting of suspicious activity related to SAR filings. Create and maintain a positive and informative experience when communicating with other Business Units.
- Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including OFAC Sanctions, Executive Orders, FACTA, Reg. CC, Reg. E, UCC, Check 21, Bank Secrecy Act, Anti-Money Laundering laws, Visa and other card related regulations appropriate to the position.
- Comply with all established internal audit, security and credit union rules, regulations and departmental procedures. Maintain knowledge by keeping updated with required regulations or procedures through emails, publications, online resources, and procedure changes.
- Maintain confidentiality of documentation and communications to and from members, other institutions, law enforcement and vendors.
- Oversee and administer the process and review of New Account Verifications by following up with Branches, Lending, Account Services, Call Center or Members as needed to verify identification.
- Review Member profiles to ensure completion of CIP and CDD/EDD requirements. Close accounts when verification is not provided.
- Evaluate member transactions and relationship for unusual, suspicious, or high-risk activity, for potential SAR filing and when necessary recommendation for restrictions or closure.
- Identify, investigate, respond to and/or resolve member/branch issues related to fraud/ Anti-Money Laundering and maintain clear and accurate documentation of investigations for use in federal reporting.
- Review, research and disposition FRAML, OFAC and FinCEN alerts, accurately and within specified timeframes
- Identify, investigate, respond to and/or document reports of unusual or suspicious member activity which would be in violation of BSA reporting requirements. Maintain clear and accurate documentation of investigations for use in SAR reporting.
- Proficient in investigations related to Anti-Money Laundering related to the Bank Secrecy Act that may result in local, state or federal reporting.
- Prepare, amend and review SAR filings, accurately and timely.
- Work detailed investigations from start to finish. Assists with other investigative efforts within the department, as well as identify and report trends.
- Act as a liaison with other local and federal law enforcement, and other financial institutions.
- Assist in the data collection, research and investigation of 314(b) requests for information.
- Perform other duties as assigned.
PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASKS:
- Effective oral and written communication skills required to assist other staff, constructively follow-up on member inquiries, communicate clearly with management, and perform other related tasks.
- Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine and telephone.
ORGANIZATIONAL CONTACTS & RELATIONSHIPS:
- INTERNAL: All business units and departments as needed.
- EXTERNAL: Federal, state, and local law enforcement, vendors and business partners, and industry peers as needed.
- EDUCATION: Successful completion of High School curriculum.
- EXPERIENCE: 3 -- 4 years of financial institution or law enforcement experience and Fraud, AML, or card fraud experience.
- Ability to effectively communicate with internal and external contacts.
- Knowledge of Credit Union products, services, policies & procedures.
- Operating knowledge of Visa regulations, AML/BSA, OFAC and Federal/State Regulations.
- Good organizational skills, including the ability to prioritize daily activities and multi-task to complete assignments.
- Strong attention to detail in working and investigating files with emphasis on deadlines.
- Basic Excel skills
- Knowledge to operate facsimile machine, ten key, microfiche, electronic banking equipment; basic PC knowledge of Windows environment, and office filing logic.
- Must be self-motivated and capable of exercising sound judgement, working both independently as well as in a team environment
- Prolonged sitting throughout the workday with occasional mobility required.
- Corrected vision within the normal range.
- Hearing within normal range. A device to enhance hearing will be provided if needed.
- Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.