Compliance/Risk Specialist

Energy Capital Credit Union•Houston, TX

3d•Onsite

About The Position

The primary role of this position is to identify, mitigate and prevent fraud risk and financial loss while supporting Compliance with BSA/AML regulations in the Credit Union. This role reviews fraud and compliance alert investigations and provides advice and guidance to staff, management, directors, and officers on compliance and risk matters. To accomplish this role, you will execute fully on the review of system-produced fraud and compliance alerts, investigate alerts and cases with urgency and thoroughness, process Regulation E claims to meet regulatory deadlines and protect the Credit Union from loss, mitigate plastic card, check, and ACH fraud through timely action on suspicious activity, and review third party systems/reports to identify compliance/fraud concerns and take proper measures for mitigation and/or resolution. This role will also work collaboratively with processors and peers to reduce the potential for fraudulent card usage. Is responsible for maintaining and monitoring compliance of Credit Union with all required regulations and policies, especially with all Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) policies, procedures, and regulations.

Requirements

One year to three years of similar or related experience in fraud prevention, fraud investigations, compliance, risk management, financial services, or a related field.
Demonstrated ability to identify suspicious activity, analyze trends and patterns, conduct investigations, document findings, and escalate potential fraud or compliance risks in accordance with established policies and procedures.
A two-year college degree, or completion of a specialized certification or licensing, or completion of specialized training courses conducted by vendors, or job-specific skills acquired through an apprenticeship program.
A commitment to delivering friendly, professional, and accurate service to members, vendors, and associates.
Strong attention to detail and the ability to follow established policies, procedures, and regulatory requirements.
Reliability, punctuality, and consistent attendance.
A team-focused mindset with a desire to support branch goals, sales performance, and financial objectives.
Alignment with our company culture and commitment to internal and external service standards.

Nice To Haves

Experience with fraud analytics, transaction monitoring, risk scoring, case management, and investigation platforms is preferred.

Responsibilities

Utilizes resources and programs such as Verafin, debit card processor reports , and member account activity monitoring tools to investigate and resolve BSA/AML and fraud alerts with accuracy and urgency.
Calls members on suspected fraud, Falcon alerts, and other potential fraud situations that arise from daily operations.
Prepares compliance/regulatory reports (SARs/CTRs) as needed and within regulatory timeframes.
Reviews new accounts, high risk accounts, online banking activity, and payments systems such as ACH originations or share drafts processing for fraud potential and takes action as needed to mitigate losses.
Attends fraud/compliance networking events and industry webinars to stay current on trends.
Provides recommended changes to policies and procedures for emerging topics.
Maintains monthly reports on fraud cases, fraud losses/prevention, and compliance filings.
Discusses emerging trends with Compliance/Risk Manager and/or Third-Party Vendors to adjust strategies as appropriate.
Works collaboratively with processors and peers to reduce the potential for fraudulent card usage.
Maintains and monitors compliance of Credit Union with all required regulations and policies, especially with all Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) policies, procedures, and regulations.