BSA/AML Specialist (Hybrid)
About the position Responsible for maintaining and promoting best practices to guard the credit union against financial crimes, including elder abuse and fraud. Reviews and reports suspicious activity and other required BSA reporting as applicable. Mitigates fraud across all avenues of the credit union, reporting of CTRs and SARs, alert triage and collects documents for cases. Assists business units with fraud and BSA related issues as needed, all while promoting a supportive work environment. Displaying confidentiality in all aspects of the job function is of the utmost priority due to the sensitive nature of the position.
Responsibilities
- Follows-up and works in conjunction with team members to resolve any irregularities that come from newly opened accounts identified through internal systems.
- Utilizes internal/external resources to investigate and analyze potential fraudulent or suspicious activity.
- Conducts investigations as a result of accounts identified through analysis or in response to reports of unusual activity.
- Regularly runs OFAC and 314a checks, researching any and all matches.
- Answers calls received through the risk management department’s phone system and assists, or reviews, as necessary.
- Assists team members with researching member accounts (account reviews, CIP, Wire Review, etc.) when questions arise (based on red flags).
- Assists BSA Team with BSA/AML/Fraud/ OFAC alerts to case workflow.
- Reviews accounts for potential illicit activity based on scope of normal account activity in order to triage alerts before moving the case to a specific queue in the AI system.
- Conducts phone interviews and obtains information related to account activity as needed from both team members and credit union members alike.
- Recommends a course of action to BSA Office, based on findings from the BSA/ AML/ Fraud/ OFAC alert triage process.
- Presents potential SAR cases to BSA Officer; recommends File/Do Not File decisions based on analysis performed.
- Prepares SAR forms and composes written narratives with supervision, or instructions, of BSA/AML Analyst or BSA Officer.
- Performs end-to-end investigations from alert to SARs filing.
- Prepares accurate and efficient processing of Currency Transaction Reports (CTRS) with supervision, or instructions, of the BSA/AML Analyst or BSA Officer.
- Performs accurate review of BSA/AML/ Fraud/ OFAC alerts with appropriate written decisioning.
- Conducts risk-based analysis/review of member files with certain BSA/AML risk attributes, such as presence of politically exposed persons, exposure to sensitive or sanctioned jurisdictions, usage of higher risk products, etc.
- Assists BSA Team in conducting training classes (BSA/AML/ OFAC) to help educate team members of BSA regulatory requirements.
- Performs other BSA /AML/ OFAC duties, working closely with the Bank's BSA Officer and Compliance team, as assigned.
- Stays informed of developments in the fraud/BSA field affecting Credit Union operations.
- Completes projects as assigned.
- Promotes and establishes strong, positive and productive working relationships within the organization through commitment to the company’s purpose, mission and core values.
Requirements
- Maintaining and promoting best practices to guard the credit union against financial crimes, including elder abuse and fraud
- Reviews and reports suspicious activity and other required BSA reporting as applicable
- Mitigates fraud across all avenues of the credit union
- Reporting of CTRs and SARs
- Alert triage
- Collects documents for cases
- Assists business units with fraud and BSA related issues as needed
- Displaying confidentiality in all aspects of the job function is of the utmost priority due to the sensitive nature of the position
- Follows-up and works in conjunction with team members to resolve any irregularities that come from newly opened accounts identified through internal systems
- Utilizes internal/external resources to investigate and analyze potential fraudulent or suspicious activity
- Conducts investigations as a result of accounts identified through analysis or in response to reports of unusual activity
- Regularly runs OFAC and 314a checks, researching any and all matches
- Answers calls received through the risk management department’s phone system and assists, or reviews, as necessary
- Assists team members with researching member accounts (account reviews, CIP, Wire Review, etc.) when questions arise (based on red flags)
- Assists BSA Team with BSA/AML/Fraud/ OFAC alerts to case workflow
- Reviews accounts for potential illicit activity based on scope of normal account activity in order to triage alerts before moving the case to a specific queue in the AI system
- Conducts phone interviews and obtains information related to account activity as needed from both team members and credit union members alike
- Recommends a course of action to BSA Office, based on findings from the BSA/ AML/ Fraud/ OFAC alert triage process
- Presents potential SAR cases to BSA Officer; recommends File/Do Not File decisions based on analysis performed
- Prepares SAR forms and composes written narratives with supervision, or instructions, of BSA/AML Analyst or BSA Officer
- Performs end-to-end investigations from alert to SARs filing
- Prepares accurate and efficient processing of Currency Transaction Reports (CTRS) with supervision, or instructions, of the BSA/AML Analyst or BSA Officer
- Performs accurate review of BSA/AML/ Fraud/ OFAC alerts with appropriate written decisioning
- Conducts risk-based analysis/review of member files with certain BSA/AML risk attributes, such as presence of politically exposed persons, exposure to sensitive or sanctioned jurisdictions, usage of higher risk products, etc.
- Assists BSA Team in conducting training classes (BSA/AML/ OFAC) to help educate team members of BSA regulatory requirements
- Performs other BSA /AML/ OFAC duties, working closely with the Bank's BSA Officer and Compliance team, as assigned
- Stays informed of developments in the fraud/BSA field affecting Credit Union operations
- Completes projects as assigned
- Promotes and establishes strong, positive and productive working relationships within the organization through commitment to the company’s purpose, mission and core values
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