BSA/AML Specialist

VyStar Credit Union•Jacksonville, FL

18h•Onsite

About The Position

Assist the BSA/AML Manager in utilizing the BSA/AML risk mitigation framework that complements the overall Enterprise Risk Management (ERM) function, which is designed to identify, analyze, respond to and monitor internal and external BSA/AML risks across various product and delivery channels and to assist VyStar in achieving its 1) mission to provide quality service and maintain fiscal soundness and 2) strategic goals and objectives. Support the BSA/AML Manager by reviewing and investigating BSA/AML requirements related to FinCEN’s Customer Identification Program (CIP), Beneficial Ownership Information, Currency Transaction Reports (CTRs), and/or monitoring for potentially unusual/suspicious member behavior and transactional activity and complete required Federal and State regulatory processing and reporting requirements. Recommend procedural and/or operational changes as well as any enhancements to the BSA/AML software to increase efficiency, ensure compliance, and to support sound risk-based decision-making processes. The BSA/AML Specialist reports directly to the BSA/AML Manager to support strong communication reporting channels and to recognize the key importance of effective BSA/AML program for VyStar and in support of the overall ERM function.

Requirements

High school diploma or a GED equivalency is required
2-5 years of retail banking related experience or 1-5 years, 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.) is required.
Display excellent written, report writing and oral communication skills when interacting through the organization, with vendors and others external to VyStar.
Maintain professional composure, objectivity and fairness when dealing with conflicts and sensitive matters.
Display attention to detail and accuracy, ability to multi-task and meet established deadlines.
Exhibit sound judgment, problem solving, and analytical skills.
Display high level of ethical integrity and the ability to maintain confidential and sensitive information appropriately.
Demonstrate due professional care and the highest standards of professional competency.
Maintain collaborative relationships across the organization and continuously display a strong sense of teamwork.

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 BSA/AML risk mitigation framework.
Maintain effective communications, ensure efficient workflow processing and work with others internally and externally to VyStar.
Responsible for the continuous monitoring of activity for specific trends and patterns of activity using the BSA/AML software, which may present an increased risk for fraud losses and/or money laundering activities within VyStar.
Assist the VP of BSA Risk Management and BSA/AML Manager in developing, promoting, and implementing a risk intelligent culture by maintaining strong collaborative relationships across the organization.
Help to create and foster an increased understanding and awareness of business line managers’ responsibility for risk assessment and management activities in their daily decisions making processes and procedural guidance as it relates specifically to BSA/AML risks.
In concert with the ERM function & VP of BSA Risk Management & BSA/AML Manager, provide advice and consult with line managers to support more information risk-based thinking and decision-making skills.
Establish strong collaboration and sharing of expertise/knowledge between team members and the other areas under ERM and in conjunction with Internal Audit’s assurance services.
Responsible for reviewing account opening documentation and information gathered at account opening, for both individuals and business entities to independently determine if all aspects of the CIP (Customer Information Program) are being followed.
Detect exceptions in the account opening process and documentation and be able to categorize them as a Procedure Error or a violation of CIP.
Regular monitoring, tracking, and reporting of exceptions to VyStar’s Customer Identification Program (CIP) which are identified during the account opening process.
Ensures all required documentation related to entities that have been identified as needing additional due diligence items has been obtained, is completed accurately, and is retained in the BSA/AML software.
Review monthly CDD (Customer Due Diligence) alerts to confirm all higher risk entities have been appropriately identified with in the BSA/AML software.
Responsible for performing the Currency Transaction Report (CTR) reporting and quality control processes, with strict adherence to accuracy, completeness, and timeliness of submission.
Regular monitoring of the CTR dashboard in the BSA/AML software to ensure all submissions are accepted by FinCEN.
Ensures adequate documentation exists and is retained in the BSA/AML software to support CTR filings.
Be able to understand the qualifications for CTR Exemptions, identify and recommend members eligible for exemptions from CTR filing, and complete initial and annual reviews on new, and existing CTR Exempt members.
Research, investigate, and process BSA/AML alerts identifying potentially suspicious activity from the daily/weekly alert queues in a timely manner, in adherence with all applicable regulations and procedures.
Responsible for the review of the Sanctions/Watch Lists screening results including, but not limited to, OFAC list, the 314(a) and Politically Exposed Persons (PEPs), determine if there is an exact match, and ensures matches are reported to management within required timeframes.
Review and process external requests received from other departments, law enforcement agencies, and other financial institutions.
Assist the BSA/AML Investigator in Case file development by collecting pertinent case evidence including documentation, video recordings, member activity logs and other information that may pertain to SAR case evidentiary findings.
Keeps abreast of new money laundering schemes to enhance transaction monitoring (e.g., best practices in the industry).
Responsible for working independently to identify issues and to proactively keep the BSA/AML Manager and/or the VP of BSA Risk Management informed of notable activities/situations that need to be escalated.
Develop/maintain inter-departmental colleague network and individual knowledge to keep abreast of existing/emerging trends within the financial institution industry to proactively mitigate similar risks to VyStar.
Works closely with the BSA/AML Manager and team to promote a sense of 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 (e.g., BSA, Compliance, Information Security, Sexual Harassment, Diversity training, etc.).
Maintain strong working proficiency in various business-related systems (e.g., ATLAS, Verafin, CLEAR, Client Workstation, etc.).
Maintain moderate to high proficiency in the Microsoft Word (including knowledge of producing form letters and mail merges) and Excel (including use of pivot tables and general data sorting/data table manipulation capabilities.)
Consistently communicates with the highest level of professionalism with members, judicial/legal entities, external entities, VyStar employees, etc.
Assist the VP of BSA Risk Management & BSA/AML Manager in enhancing and providing applicable BSA/AML training throughout the organization.
Participate in training with BSA/AML Investigators in all job duties of the BSA Department to prepare for future career advancement.
Perform all other duties assigned by supervisor or manager as this job description may not be inclusive of all assigned duties, responsibilities, or aspects of the job described, and may be amended at any time at the sole discretion of the VP of BSA Risk Management & BSA/AML Manager
All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work.
To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates.
The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance
Demonstrate each of the following VyStar Excellence behaviors in performing the duties and responsibilities of the job.
Focus your full attention by carefully listening to and observing your client or member.
Consistently be friendly and approachable. Demonstrate you care.
Listen empathetically and ask questions.
Recommend solutions based on your client’s or member’s needs and objectives.
Ensure that member's expectations were exceeded. Verify necessary follow-up action.