BSA/AML Investigator

VyStar Credit Union•Jacksonville, FL

1d•Onsite

About The Position

The BSA/AML Investigator assists the BSA/AML Manager in utilizing the BSA/AML Risk Mitigation framework that complements the overall Enterprise Risk Management (ERM) function. This role is designed to identify, analyze, respond to, and monitor internal and external BSA/AML risks across various products and delivery channels, supporting VyStar's mission to provide quality service and maintain fiscal soundness, as well as its strategic goals and objectives. The investigator reviews and investigates unusual/suspicious member behavior and transactional activity, completes required Federal and State regulatory processing and reporting, and recommends procedural or operational changes to enhance efficiency, ensure compliance, and support sound risk-based decision-making. The position reports directly to the BSA/AML Manager.

Requirements

High School Diploma or GED equivalency required.
4-6 years of retail banking related experience or 3-6 years of experience in a BSA/AML compliance role.
Maintain an understanding of VyStar’s overall business plan objectives.
Competent knowledge and experience with BSA/AML requirements (i.e., Bank Secrecy Act, AML/CIP/OFAC, USA PATRIOT Act, etc.).
Competent PC skills and working knowledge of various software applications (e.g., Word, Excel, Access, etc.).
Excellent written, report writing, and oral communication skills.
Maintain professional composure, objectivity, and fairness when dealing with conflicts and sensitive matters.
Attention to detail and accuracy.
Ability to multi-task and meet established deadlines.
Sound judgment, problem-solving, and analytical skills.
High level of ethical integrity and ability to maintain confidential and sensitive information.
Demonstrate due professional care and the highest standards of professional competency.
Maintain collaborative relationships across the organization and display a strong sense of teamwork.
Proficiency in Microsoft Word (including form letters and mail merges) and Excel (including pivot tables and data manipulation).

Nice To Haves

An Associate degree in a business curriculum or a related field is preferred.
A professional BSA/AML certification is preferred.
Obtain necessary continuing professional education hours to retain professional certification as applicable and continuously build individual knowledge.

Responsibilities

Support the BSA/AML Manager in developing and maintaining the BSA/AML risk mitigation framework.
Maintain effective communication and efficient workflow processing internally, and collaborate with internal and external parties.
Continuously monitor activity for trends and patterns using BSA/AML software to identify potential money laundering activities.
Assist in developing, promoting, and implementing a risk-intelligent culture by fostering collaborative relationships across the organization.
Help create and foster an increased understanding and awareness of business line managers’ responsibility for risk assessment and management activities.
Provide advice and consult with line managers to support more informed risk-based thinking and decision-making skills.
Establish strong collaboration and sharing of expertise/knowledge between team members and other areas under ERM and in conjunction with Internal Audit.
Thoroughly understand all facets of the BSA/AML Program, alert processing, case formation and closure, and ensure sufficient documentation supports dispositions, case files, and regulatory reporting.
Make recommendations to better identify and mitigate emerging BSA/AML risks.
Continuously monitor transactions, alerts, queues, and dashboards within the BSA/AML system to ensure timeliness and identify patterns of transactions that may present increased risk for fraud and/or money laundering.
Ensure timely processing and closure of cases in accordance with regulatory requirements.
Document case files consistently and in an organized manner, including all information obtained during investigations.
Ensure the quality and accuracy of information entered into the BSA/AML system and applicable reporting systems.
Perform Suspicious Activity Report (SAR) reporting and quality control processes with strict adherence to accuracy, completeness, consistency, and timeliness.
Ensure all information obtained during investigations is maintained to support the decision to file a SAR or not.
Ensure SARs are filed within 30 days after determination of suspicious activity.
Review 90-day reminders to determine if a subsequent SAR is warranted.
Research, investigate, and process AML alerts, Remote Banking alerts, and Red Flag alerts from daily/weekly queues in a timely manner.
Perform initial and annual reviews of existing high-risk accounts, as well as various other VyStar-wide BSA/AML/OFAC/CIP projects.
Perform quality assurance and integrity checks of the Know Your Customer (KYC) program for new and existing member relationships.
Assist law enforcement in investigations of suspected criminal activity while ensuring member privacy.
Enhance and provide applicable BSA/AML training throughout the organization.
Work independently to identify issues and proactively inform management of notable activities/situations requiring escalation.
Develop/maintain an inter-departmental colleague network and individual knowledge to stay abreast of emerging trends within the financial institution industry.
Promote teamwork and an enterprise-wide proactive risk mitigation approach.
Ensure deadlines are met consistently and follow-up activities are completed timely.
Successfully complete all required training and assessments.
Maintain strong working proficiency in various business-related systems (e.g., MISER, Verafin).
Maintain moderate to high proficiency in Microsoft Word and Excel.
Communicate with the highest level of professionalism with members, judicial/legal entities, external entities, and VyStar employees.
Review screening results for all Watch Lists (OFAC, 314(a), PEPs), determine exact matches, and report matches to management.
Review and submit 314(b) inquiries to determine customer risk.
Log and manage spreadsheets for all information requests from law enforcement.
Provide BSA requested documents in response to law enforcement requests and review account activity to determine if a case needs to be opened.
Perform quality control (QC) tests/inspections to ensure work is completed and filed in accordance with regulatory requirements.
Assist in training and mentoring BSA/AML Specialists.
Perform all other duties assigned by supervisor or manager.