Bank Secrecy Act Analyst - Compliance Department

Dade County Federal Credit Union•Doral, FL

5d•Onsite

About The Position

The Bank Secrecy Act Analyst is responsible for administering all aspects of the Bank Secrecy Act Compliance Program. This position performs various quality control reviews and monitoring in the area of Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering, OFAC, Fair Credit Reporting and Customer Identification Program compliance using industry standard and regulatory guidance sampling methods to ensure the Credit Union’s compliance efforts are maintained on a daily basis. Advises the Credit Union’s Compliance Director, and Credit Union personnel of emerging compliance issues and consults and guides the Compliance Director and in the establishment of controls to mitigate risks. Assists the Director of Compliance in ensuring department activities run smoothly and efficiently by providing leadership within the department. The position of Bank Secrecy Act Analyst is required to be fully knowledgeable and skilled in all areas of the department. Assures compliance with all Bank policies and procedures, as well as, all applicable state and federal banking regulations.

Requirements

Bachelor’s degree from a college or university; or two years of related experience and/or training; or the equivalent combination of education and experience.
Work related experience should consist of an in-depth background in Bank Secrecy Act compliance and supervisory skills.
Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be applicable to the financial industry.
Advanced experience, knowledge and training in progressively responsible credit union administration.
Intermediate experience, knowledge and training in all operational and lending activities and terminology.
Advanced knowledge of related state and NCUA compliance regulations, Credit Union operational policies and procedures, and the Credit Union’s products and services.
Ability to read, analyze and interpret legal and regulatory texts, general business periodicals, professional journals, and technical procedures.
Excellent organizational and time management skills, with the ability to provide leadership, and training for one or more employees using positive supervisory techniques to ensure maximum productivity; demonstrated ability in organization and delegation skills.
Advanced skills in computer terminal and personal computer operation; mainframe computer system; word processing, spreadsheet and specialty software programs.
Intermediate typing skills to meet production needs of the position.
Exceptional verbal, written and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, write reports, correspondence and procedures, speak clearly to members and employees.
Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
Ability to work with no supervision while performing duties.
Written and oral communication (email, in-person and phone) skills.

Responsibilities

Maintains proficient knowledge of the rules and regulations, including but not limited to, the Bank Secrecy Act, USA Patriot Act, OFAC, Fair Credit Reporting Act, and Uniform Commercial Code Articles 3 & 4.
Administers all aspects of the Bank Secrecy Act Compliance Program; performs duties as a member of the Credit Union’s Compliance Committee; assists independent, state and federal regulator auditor inquiries; reviews BSA, AML, OFAC and CIP related policies and procedures; makes recommendations when and where appropriate; and is required to submit periodic reports to the AVP of Compliance detailing Bank Secrecy Act issues.
Performs daily review, monitoring and analysis of various reports, logs and transaction data to identify trends, unusual activity, large currency activity, significant changes in balances, cash structuring, loan payments and certificate of deposit purchases, wire or ACH transfers, monetary instrument sales, new account openings, etc. to determine if transactions are suspicious in nature, such as kiting, elder abuse, money laundering, and fraud.
Drafts Suspicious Activity Reports (SARs) ensuring they are properly documented with a complete narrative and supporting documentation.
Takes an active role in processing death notifications and coordinates with Branch, Contact Center, and back office personnel on the proper handling of assets belonging to deceased members. This includes obtaining the necessary documentation from various sources such as attorneys, probate records, surviving relatives, beneficiaries, and joint members and retaining those records as required by law and in a manner that makes them accessible when needed.
Provides support and guidance to Credit Union personnel regarding the acceptance and handing of legal documents such as powers of attorney, probate orders, subpoenas, summons, and trust agreements. Forwards requests to legal counsel when appropriate.
Provides maintenance, follow-up and timely response to the Credit Union’s OFAC system and FinCEN 314(a) and (b) lists and inquiries; appropriately responds to positive hits detected by the Credit Union’s AML or OFAC software system which is Verafin.
Identifies and mitigates potential risk issues against the Credit Union; assists in providing BSA, AML, OFAC, FCRA, and CIP compliance support; interacts with Credit Union personnel pertaining to such issues.
Oversees actions of comprehensive self-testing, independent third party and regulatory audits; makes necessary preparations for such audits or exams; coordinates responses to external auditors and regulatory examiners; ensures deficiencies identified from such audits and examinations are corrected.
Works in conjunction with Deposit Operations to test account opening reports for CIP compliance and accuracy; has access to the database of missing information for follow up by branch personnel; identifies, monitors and tracks high risk members and accounts.
Reviews currency reports from the core system to ensure that Currency Transaction Reports (CTRs) are accurate and filed timely. reviews daily currency reports to ensure CTR’s have been completed for all reportable transactions listed in the Verafin software and the host reports.
Researches, documents, and resolves automated credit report disputes accurately, and in a timely manner; identifying systemic issues and making recommendations to the Director of Compliance on how to correct any issues.
Reviews incoming and outgoing wire transfer requests over $3,000.00 for fraud screening purposes and for accuracy, and compliance with applicable regulations, including but not limited to OFAC, BSA, and Dodd-Frank. Provides approval in a timely manner, and coordinates with the member-facing personnel to obtain any missing information or documentation. Contacts incoming wire transfer receivers to confirm the source and purpose of the wire transfers, retains documentation of all requests and interactions on the core system, and our BSA/case management software.
Assists with BSA, AML, OFAC and CIP training presentations and exercises with the Training Department, including material presented to employees during the new hire orientation process.
Responds to inquiries or refers inquiries to the appropriate department or person, and exhibiting the necessary follow through with members and/or staff involved.
Provides support to all areas of the department where service or assistance is needed; opens and closes the department.
Assists the Director of Compliance in implementing cost controls for the department and monitors expenses to ensure compliance with budget.
Assumes responsibility for special projects; gathers data and prepares reports for the Director of Compliance.
Answers telephones, answers questions and directs callers to proper Credit Union personnel.