Reviews member transactions and account activity for suspicious behavior and regulatory violations. Conducts BSA/AML, OFAC, enhanced due diligence, and fraud investigations; prepares Currency Transaction Reports and Suspicious Activity Reports; researches regulations; maintains reporting exemption records; analyzes compliance metrics; and supports regulatory audits and examinations.
We’re always looking for diverse, talented, service-oriented people to join our exceptional team.
BSA Specialist - TemporaryThe pay range for this position is listed below. Our pay ranges are built to allow for candidates with various levels of skill and experience to be considered, as well as for room for growth and tenure achieved in a role over time. Typical new hire salary offers fall within the minimum to midpoint of a pay range for many candidates. Any offer extended to a candidate will be based upon their unique set of knowledge, skills, education, and experience as well as internal equity.
Pay Range:
$29.79 - $44.68Scheduled Weekly Hours:
40What You’ll Be Doing
Responsible for reviewing and researching Member transactions to identify and report suspicious activity to ensure the Credit Union's compliance with the aspects of the Bank Secrecy Act, USA Patriot Act and Office of Foreign Assets Control (OFAC).
- Performs daily review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large day to day account activity and determine if transactions are suspicious in nature.
- Participates in efforts to collect and analyze metrics utilizing existing internal reporting tools to continually improve processes and reports owned by the business unit.
- Reviews and files timely Currency Transaction Reports based on aggregated cash transactions including ATM and multiple branch deposits and/or withdrawals.
- Utilizes BSA/AML automated system and various reports to identify suspicious activity and perform moderately complex investigations to identify Bank Secrecy Act issues such as money laundering, terrorist financing, internal / external fraud schemes, structuring, and illegal money service business activity.
- Demonstrates proficiency in investigative practices associated with an experienced investigator (conduct interviews, collect data, compile documentation and evidence, maintain accurate notes, develop initial and ongoing reports of investigations, prepare comprehensive, accurate and timely Suspicious Activity Reports).
- Reviews and investigates OFAC alerts for a determination of actual OFAC match or false match, and responds to OFAC related questions from branches and various departments.
- Conducts enhanced due diligence searches on high-risk accounts and entities.
- Maintains the Credit Union’s centralized list of customers exempt from large currency transaction reporting requirements.
- Researches current laws and regulations through government and other journals, publications and manuals. Reads, researches, interprets and generally stays abreast of the requirements of the Bank Secrecy Act.
- Assists in preparing documentation for and coordination of audits and examinations by regulatory agencies.
- Assists teammembers with specific BSA and OFAC related questions.
Additional Job Functions
- Performs other duties as assigned
- Complies with regulatory compliance and assigned training requirements including but not limited to BSA regulations corresponding to their specific job duties. Failure to do so may result in disciplinary and other employment related actions.
Qualifications
- High School Diploma or GED required
- Bachelor's Degree in a related field or equivalent years of experience required
- 1-3 years of prior relevant experience required
- CAMS – Certified Anti Money Laundering Specialist preferred
Knowledge, Skills, and Abilities
- Entry level knowledge in BSA, AML, CIP and OFAC laws and regulations, and related best practices required.
- Knowledge of concepts, practices and compliance techniques for the financial services industry
- Ability to understand complex legal and regulatory issues and laws
- Understanding of methodologies for researching and analyzing compliance issues
- Understanding of reporting requirements of various regulatory agencies
- Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations
- Familiarity with Symitar system and reports Preferred
- Familiarity with anti-money laundering applications Preferred
SchoolsFirst FCU is committed to Diverse, Equitable, and Inclusive Hiring
At SchoolsFirst FCU we are dedicated to building and growing a diverse, inclusive, and authentic Dream Team, so if you’re excited about a position or wanting to make a career change but your past experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyway. Many skills are transferrable and you may be just the right candidate for the position, or for other roles we are working on.
SchoolsFirst Federal Credit Union is committed to fostering, cultivating, and preserving a culture of diversity and inclusion. SchoolsFirst FCU is an equal opportunity employer and prohibits discrimination against qualified individuals based on their status as protected veterans or individuals with disabilities and prohibits discrimination against all individuals based on their race, color, religion, sex, national origin, age, sexual orientation, gender identity or expression, political affiliation, or genetic information.
This organization participates in E-Verify.
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