Company: AEA FEDERAL CREDIT UNION
Posted on: May 8, 2022
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
ESSENTIAL FUNCTIONS AND BASIC DUTIES
- - - - - - - - -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
- - - - - - - - -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
- - - - - - - - -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
- - - - - - - - -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)
- - - - - - - - -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
- - - - - - - - - -Performs other duties as assigned.
QUALIFICATIONS AND REQUIREMENTS
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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