Bank Secrecy Act (BSA) Officer

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SUMMARY

This position is primarily responsible for directing the Bank Secrecy Act and Anti-Money Laundering function of the credit union. This person will also be responsible for all major decisions regarding the Bank Secrecy Act/AML Compliance Program. Will support operations departments and branch locations by making all decisions regarding BSA/AML and related compliance issues. Responsible for performing and documenting investigations pursuant to customer due diligence and suspicious activity monitoring programs. Will assist all relevant areas of the credit union regarding the application of the Bank Secrecy Act along with other legal requirements; work with staff and regulatory agencies during examinations and remain abreast of applicable laws and regulations.

ESSENTIAL DUTIES:
Directs the BSA/AML compliance monitoring program, ensuring that there are sufficient internal controls to promote an effective control environment and prioritizing focus towards areas identified as having the highest level of risk to the credit union.
Directs and provides assistance on periodic BSA/AML compliance reviews as they are performed by departmental personnel as a means of validating compliance efforts and report results to appropriate levels of credit union management.
Oversees all functional areas with respect to suspicious activity investigations
Makes decisions on possible suspicious activity in conjunction with Corporate Security and consults with Chief Compliance and Risk Manager on all Suspicious Activity (SAR) decisions for reporting to the IRS and senior management.
Manages lists of accounts identified by Corporate Security as high-risk and maintains lists for OFAC, Non-Cooperative Countries and Territories, Non-Resident Aliens, the FBI Control List, and other lists required by the government.
Leads the process for daily monitoring of potential OFAC matches from ChexSystems and makes final determination of OFAC list "hits".
Completes preparatory work prior to BSA/AML regulatory examinations of the credit union.
Prepares reports and correspondence as needed to regulatory agencies
Maintains the BSA/AML policy and leads the development of and/or changes to procedures of various departments to ensure BSA/AML compliance issues are adequately addressed. Meets with various departmental personnel to advise of deficiencies and insures that required changes are made.
Acts as an advisor in new product/service development to ensure BSA/AML compliance risks are identified and addressed.
Develops and implements internal training programs for all areas of the credit union.
Participates in compliance training and continuing education to maintain proficiency with laws and regulations affecting the credit union.
REQUIREMENTS
REQUIREMENTS:

Extensive knowledge of OFAC regulations, USA Patriot Act, and the Bank Secrecy Act.
Ability to define problems and propose solutions. Strong attention to detail and strong organizational/time-management skills.
Ability to efficiently complete multiple projects simultaneously.
Ability to work independently and/or in teams with limited supervision.
Demonstrated skills in analyzing figures to determine logical solutions, including knowledge of statistical sampling methodologies.

EDUCATION and/or EXPERIENCE:
B.A Degree in Business, Accounting, related field or any combination of training, and experience. Requires 4 to 6 years experience in BSA related field, bank/credit union operations, or audit.

LANGUAGE SKILLS:
Well developed written and verbal communication skills.

OTHER SKILLS: Advanced PC and software skills necessary for the development of required reporting and compliance monitoring.

REASONING ABILITY: Strong analytical ability and organizational skills.

All positions require a positive 4 month credit history!

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