BSA Specialist (Onsite)

Frontwave Credit Union•El Centro, CA

11d•Onsite

About The Position

The BSA Specialist assists in the day-to-day BSA/AML responsibilities within the BSA department. Responsibilities will include but not limited to reviewing and investigating alerts; currency transaction reports; high risk accounts; monitoring activity; identifying suspicious activity, performing enhanced due diligence on customers and accounts, interpreting company’s policy and procedures pertaining to compliance and BSA/AML/OFAC, keeping up to date of timely reporting of all activity to the AML/BSA Officer. About Frontwave Credit Union: Frontwave Credit Union is a member-owned not-for-profit financial institution serving San Diego, Riverside, San Bernardino and Imperial counties. Founded in 1952, we have grown to 18 branches with 125,000 members and manage over 1.8 billion in assets. At Frontwave Credit Union, we are focused on creating consumer solutions to provide our members and the communities we serve with products and services that enhance the quality of life for our members through exceptional service and the progressive application of technology.

Requirements

Bachelor’s degree; or 3 plus years of related experience and/or training; or the equivalent combination of education and experience within the financial industry sector.
One to two years’ experience in a banking position either in a BSA position, or another position where BSA responsibilities are heavily trained – including advanced tellers, operations, etc.
CAMS or another relevant certification, or the ability to obtain certification within six months of hire.
Working knowledge of suspicious activity typologies, trends and patterns
Working knowledge of compliance regulations governing Bank Secrecy Act & Anti-Money Laundering (BSA/AML), Patriot Act (CIP), Treasury Office of Foreign Assets Control (OFAC), FFIEC advisory guidelines regarding Know Your Customer (KYC), Enhanced Due Diligence (EDD) Reg CC, Reg G and other areas to include retail banking, credit card, and third-party risk management
Ability to develop and maintain rapport with co-workers to effectively obtain and communicate compliance information
Working knowledge of various business line operations and expected activities
Strong analytical and communication skills
Good verbal, written and interpersonal communication skills, with the ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence and procedures, and speak clearly to customers and employees
Ability to deal with complex problems involving multiple facets and variables in non-standardized situation
Ability to work independently with limited supervision while performing duties.

Responsibilities

Investigate alerts from AML/BSA software and either clear alerts with proper supporting documentation or escalate for Suspicious Activity Reports (SARs) filing.
Prepare and execute all CTRs for filing.
Review potential OFAC alerts, from all platforms, and determine appropriate disposition.
Review, and analyze all accounts to identify possible suspicious activity and escalate cases as necessary.
Monitors accounts and prepare detailed investigations and narratives for Suspicious Activity Reports (SARs) filing.
Assist with the updating and maintenance of AML/BSA Compliance Procedures ensuring compliance with all federal and state regulations.
Supporting the AML/BSA Officer with the development, implementation, and administration of all aspects of the BSA Program.
Reviews high-risk and/or complex business structures for new account approvals, and openings, to assess BSA/AML risk.
Assist AML/BSA Officer with internal and external audits, SAR filing, and risk reviews.
Ensure effective transaction monitoring and account oversight is implemented to identify suspicious transactions for reporting.
Assist the AML/BSA Officer with timely and accurate completion of Law Enforcement requests.
Conducting and managing incoming and outgoing 314(b) information sharing requests
Reviewing and investigating OFAC and 314(a) Watch List alerts and properly documenting alert disposition.
Creating and managing all cases within Verafin to ensure accurate record keeping and proper retention is maintained.
Reviewing system generated alerts and/or business unit referrals for potential suspicious activity, including performing transactional research and analysis; and thoroughly documenting associated research and disposition
Reviews and analyzes transaction data through daily reports and system alerts for unusual activity; investigates and researches as necessary.
Draft written summaries of investigative findings and make recommendations to the AML/BSA Officer.
Participates in training related to Bank Secrecy Act/Anti-Money Laundering requirements of the institution as it relates to the specific position held.
Effectively detect patterns and conditions through observing processes
Conduct reviews for enhanced due diligence on high-risk accounts, including MSB related relationships. Review all related relationships and detail all areas in a comprehensive narrative.