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BSA Officer

Location: Yuma
Posted on: May 8, 2022

Job Description:

Responsible for all aspects of Bank Secrecy Act (BSA) and Office of foreign Assets Control (OFAC) -Coordinates, develops, and implements Anti-Money Laundering (AML) systems and controls, reports to state and federal authorities in the event of Suspicious Activity Reporting (SAR), and directs and oversees corporate AML policies and procedures ensuring compliance with federal consumer financial laws.

- - - - - - - - -Maintain proficient knowledge of the current AML & consumer compliance climate including, but not limited to, BSA, USA Patriot Act, OFAC, and Dodd Frank.

- - - - - - - - -Conduct comprehensive investigation reviews of members by utilizing CIP information, occupation, line of business, income methods, and transaction activities.

- - - - - - - - -Track and maintain appropriate monitoring and controls of high-risk customers and perform appropriate record-keeping activities

- - - - - - - - -Update management on key AML, BSA, and consumer protection risks to the organization including recommendations, plans and activities to control risk.

- - - - - - - - -Oversee requirements for technology ensuring adequacy of BSA and Consumer compliance requirements. Identify and remediate technology gaps related to the successful execution of these programs.

- - - - - - - - -Responsible for the preparation and timely submission of reports and documents to internal departments, management, Board of Director, Supervisory Committee, and the appropriate regulatory and enforcement agencies.

- - - - - - - - -Conduct enhanced due diligence for members at on boarding and on-going monitoring

- - - - - - - - -Perform onsite inspections annually or as needed for money service business accounts, non-banking financial institution accounts and accounts deemed high risk.

- - - - - - - - -Conducts quality control reviews for compliance with the BSA. This will include monitoring members accounts and transaction activity and escalating suspicious activity as appropriate

- - - - - - - - -File all required regulatory reports and documents with the appropriate federal agency and respond quickly to all lawful requests for information regarding suspicious activity including, the filing of a Currency Transaction Report (CTR) and Suspicious Activity Reports (SARs) to FinCEN.

- - - - - - - - -Leads the Bank Secrecy Act training effort by developing, coordinating and facilitating training programs, sessions, and seminars to educate credit union personnel about the Bank Secrecy Act.

- - - - - - - - -Receives and responds to Section 314(a) requests.

- - - - - - - - -Acts as liaison/contact for Federal and State examinations and internal/external independent reviews or audits. -Participates in response to exam and audit concerns and provide assistance with corrective action of all related compliance deficiencies or violations.

- - - - - - - - -Establishes and maintains an open and effective system of communication throughout the organization and has ability to communicate findings and recommendations in a clear and concise manner through presentations, verbal conversations and/or written documents. Must maintain a professional, friendly image and service-oriented approach are being consistently exercised in all areas of responsibility.

- - - - - - - - -Acts as backup role for the Risk & Compliance Specialist and assist with various projects, procedures, policies, and risk assessments as requested.

- - - - - - - - -Works in the spirit of the credit union's Vision, Pillars, and Team Organizing Principle both internally and externally.

- - - - - - - - - -Performs other duties as assigned.

To perform this job satisfactorily, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential duties.

EDUCATION/CERTIFICATION: - Bachelor's Degree in Business, Business Management, or similar course of study at an accredited college; an equivalent combination of education and experience may -be substituted for a four-year college degree.

EXPERIENCE REQUIRED: - Two-to-five-years' experience working in a financial institution in retail operations or in a capacity testing operational compliance to BSA, OFAC, and other operational tasks/duties directly related to member transaction activities. Hands-on experience related to BSA/AML oversight with fraud prevention/investigative responsibilities and related regulatory filings experience preferred.

REQUIRED KNOWLEDGE: - Knowledge of best practices in financial services regulation, fraud detection methodologies, business transaction reviews, and emerging practices in financial crime and money laundering. Knowledge of applicable federal and state financial laws and regulations.

SKILLS/ABILITIES: - Ability to accurately interpret regulatory implications for the organization. Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and policy & procedure manuals. Ability to develop and maintain rapport with co-workers to effectively obtain and communicate compliance information.

Keywords: AEA FEDERAL CREDIT UNION, Yuma , BSA Officer, Other , Yuma, Arizona

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