Compliance Specialist

Travis Credit Union•Vacaville, CA

1d•Hybrid

About The Position

Travis Credit Union’s (TCU) Compliance Specialist monitors, investigates and conducts risk analysis to determine potential money laundering and other illegal activities that may lead to closing accounts, restricting services or reporting activity to the required regulatory agencies. This position maintains up-to-date knowledge regarding governmental and financial regulations and laws including Office of Foreign Assets Control, Anti-Money Laundering rules, Bank Secrecy Act and USA PATRIOT Act as well as fraud schemes and fraud risk management techniques. The Compliance Specialist acts as a compliance and risk management resource for Credit Union staff, members, and external agencies such as law enforcement, legal and government entities.

Requirements

Thorough knowledge of core systems as well as all credit union products and services, to include trusts, powers of attorney and other legal account structures.
Ability to professionally communicate and interact with all levels of the Credit Union, including members, staff, and management.
Ability to professionally work with external agencies such as law enforcement, Adult Protective Services, legal entities, government officials and levying agencies.
Represent the credit union in a calm and professional manner in adverse situations.
Excellent problem solver with the ability to handle detailed work.
Strong project management skills and a sound understanding of compliance-related training requirements.
Exhibits a willingness to participate in and lead department projects.
Strong analytical skills to proactively research and resolve potential problems.
Excellent written and verbal skills.
A working knowledge of fraud scams and schemes, and knowledge of risk management techniques.
Ability to effectively prioritize work assignments for maximum efficiency.
Ability to analyze work processes and exercise process improvement activities.
A working knowledge of regulations including but not limited to the Bank Secrecy Act (BSA), Office of Foreign Assets Control (OFAC), Regulation CC, Regulation D, Regulation P and other compliance regulations.
Exhibits excellent time management skills while continuing to produce quality output.
Has a full understanding of credit union’s product and service offerings.
High School Diploma or equivalent.
Minimum of 2 years of related professional experience.
Candidates must live within a reasonable commuting distance of the communities served by Travis Credit Union, which include the following counties: Alameda, Colusa, Contra Costa, Merced, Napa, Placer, Sacramento, San Joaquin, Solano, Sonoma, Stanislaus, and Yolo.
For hybrid and remote roles, candidates are still required to reside within a commutable distance of our corporate headquarters in Vacaville, California.
Candidates must have current authorization to work in the U.S. (no sponsorship available).

Responsibilities

Manages account activity monitoring and conducts investigations to determine the nature of member activity such as potential money laundering and other illegal activity.
Provides information and acts as a resource to all levels of Credit Union staff, law enforcement and members on compliance-related issues.
Keeps abreast of changes to regulatory requirements, and provides necessary research and information to aid Credit Union staff in the area of compliance.
Maintains knowledge of current and emerging fraud trends within the financial services industry.
Conducts risk analysis to determine when to close accounts, restrict services and/or report activity to reporting agencies as appropriate.
Monitors transaction activity for high risk accounts, foreign account wire transfers, currency transactions and other activity which may be indicative of money laundering, structuring or other illegal activity.
Monitors member currency transaction activity over $10,000 and prepares the Currency Transaction Reports (CTRs) in the Credit Union’s anti-money laundering software program.
Responds to branch inquiries on filing CTRs, and works with branches to ensure CTRs are filed as required.
Researches and analyzes member activity to determine if a Suspicious Activity Report (SAR) is also required.
Prepares documentation submission of SARs as required.
Investigates and assesses daily anti-money laundering software alerts relating to potential money laundering, structuring or other illegal activity.
Investigates department inquiries on suspicious activity reporting.
Reviews new consumer and business accounts and documentation for Bank Secrecy Act/Customer Identification Program (CIP) documentation requirements.
Conducts monthly consumer and business CIP reviews and provides feedback to branches.
Conducts risk assessments on new business accounts.
Conducts account searches for FinCEN and notifies management of matches.
Conducts reviews of member accounts and transactions in compliance with OFAC requirements and directs the seizure and safekeeping of accounts and assets found in violation of OFAC.
Researches potential matches to OFAC-restricted entities, applies analysis and various research tools to determine the true nature of potential matches.
Processes any potential matches from the overnight OFAC run of new members in the anti-money laundering system.
Downloads the OFAC and other watch lists into the anti-money laundering system as needed and works the potential matches, placing the false positives into the accept list.
Conducts ongoing monitoring of frozen member assets, including preparing the required annual report to OFAC.
Responds to inquiries from staff, members and government officials on OFAC compliance.
Processes the daily IAT files, checks for OFAC matches and launches the IAT posting job.
Assists members with compromised accounts or identity theft.
Takes adverse action against member accounts as necessary.
Conducts risk analysis to determine when to close accounts, restrict services and/or report activity to ChexSystems or other reporting agencies as appropriate.
Receives and researches requests for information from government agencies.
Works one on one with law enforcement, Social Services and other external agencies with investigations.
Processes subpoenas, IRS and state levies and court ordered writs submitted to the Credit Union.
Monitors all new accounts for fraud-related activity or next-day reporting by e-Funds of fraud or other abuse.
Inputs member information into e-Funds for fraud/abuse reporting.
Takes loss prevention steps and escalates concerns regarding fraud or abuse within the Credit Union and sets proper notes, restrictions and other required actions.
Gathers evidence for fraud or police investigations, compiling and submitting requested information by the required due date.
Completes account number reassignments, set proper flags, restrictions and required other actions.
Investigates potential elder abuse and files reports to Adult Protective Service as appropriate.
Processes check restitution payments for the Credit Union and processes the daily returned deposit check review.