bsa specialist I

orsa credit union • Plymouth, MI

8h

About The Position

The bsa specialist I is responsible for assisting leadership with Bank Secrecy Act (BSA)/Anti-Money Laundering (AML), Office of Foreign Assets (OFAC), Member Identification Program (MIP) and other BSA compliance. The primary responsibility is to analyze BSA/AML alerts generated from account activity monitoring software. This position recommends adjustments and assists in developing and updating methodology, as well as advising others on compliance/legal requirements. This position requires maintaining confidentiality with member/team member information, as well as communicating with and supporting team members of other departments and branches.

Requirements

• High school diploma or equivalent.
• 2 years of experience in a financial institution.
• Demonstrated the ability to quickly identify, troubleshoot and exercise good judgment in implementing effective solutions to daily issues as they arise.
• Proficiency using Excel and Word.

Nice To Haves

• College degree.
• 2 years of experience in prevention, investigation, and resolution of issues related to BSA/AML/OFAC compliance.
• BSACS certification.
• Basic understanding of financial institution regulations.

Responsibilities

• Monitor and review BSA/AML analytics for potential suspicious activity and investigate as needed.
• Assist with the BSA/AML monitoring and review of high-risk accounts.
• Monitor BSA/AML related daily reports to ensure appropriate reporting.
• Prepare Suspicious Activity Reports (SARs) for review by the Manager/Fraud & BSA.
• Oversee the accurate and timely filing of Currency Transaction Reports (CTRs).
• Assist with the implementation of regulatory changes from various initiatives including, but not limited to, BSA/AML, OFAC, US Patriot Act, and MIP.
• Assist with exam preparation and follow-ups, organizational risk assessments, and the development of department policies and procedures.
• Assist with new hire business banking training to ensure completion.
• Support branches with compliance by reviewing/approving trust and fiduciary accounts.
• Review and recommend actions in response to various branch and department related requests and provide overrides when appropriate.
• Assist with processing IRS B-notices to ensure compliance with backup withholding requirements.
• Communicate with members, other financial institutions, government agencies and law enforcement regarding BSA related instances.
• Address SAR related inquiries from law enforcement.
• Be actively involved with various industry groups (NOLPA, IAFCI, etc.)
• Perform other duties as directed by leadership.

Benefits

• Comprehensive medical, dental, and vision plans
• Generous paid time off package for all full-time team members
• Up to 12-weeks paid paternity/maternity leave
• Lifestyle Accounts to help with your personal wellbeing
• Family Health Benefits
• Paid time off to observe all Federal Holidays
• Flexible work options depending on position
• A generous 401k match
• Numerous employee engagement activities
• Community Resource Groups
• Paid time off for occasions such as volunteering, caregiving, and family events

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED