Fraud

Usf Fed Cred Union•Temple Terrace, FL

1d•Hybrid

About The Position

The Director of BSA and Fraud is responsible for developing, implementing, and administering all aspects of the Credit Union’s BSA, Anti-Money Laundering (AML), Office of Foreign Asset Control (OFAC) and Fraud Detection and Prevention programs and strategy. The Director ensures the Credit Union maintains safety and soundness and meets regulatory, business, and loss mitigation objectives by overseeing processes and procedures governing BSA and Fraud operations, investigations, and reporting. This role requires a seasoned professional with a deep understanding of regulatory compliance, risk management, and financial crime prevention. The Director leads the Fraud and BSA teams in developing their professional and technical skills in detection and mitigation strategies. The Director provides insight, interpretation and guidance on policy of BSA, AML, OFAC, and Fraud and functions as an independent and objective body that reviews and evaluates related risk/compliance issues/concerns within the organization.

Requirements

Bachelor’s degree or 10+ years’ experience in areas of risk management and/or compliance
8 or more years of risk and/or compliance experience, required
5+ years’ leadership experience, required
Strong written and oral communication skills across all organizational levels
Highly effective organizational, collaborative and consultative skills
Ability to multi-task, prioritize workload and delegate responsibilities
Ability to leverage subject matter expertise in security and compliance
Excellent judgment and the ability to make quick decisions and think outside the box when working with complex situations
Ability to successfully adjust to changing needs in a fast paced, dynamic environment
Forward thinking and possesses solid business acumen
Exhibit a high level of integrity, trustworthiness and confidence, and represents the company and its management team at the highest level of professionalism
Strong analytical skills and highly effective at interpreting and applying applicable regulation
Proficient with Microsoft Office Products: Word, Excel, Outlook and PowerPoint
Must demonstrate a functional knowledge of the Bank Secrecy Act in addition to other Federal laws, including but not limited to U.S. Patriot Act, Office of Foreign Assets & Control, Anti-Money Laundering, Right to Financial Privacy Act, and the Bank Bribery Act.

Nice To Haves

Compliance and/or Risk management certifications (NCBSO, BSACS, CUCE, CAMS, CFE) preferred
Desire to continually learn and improve approaches and methodologies

Responsibilities

Oversee the credit union’s BSA/AML, CIP, OFAC, and ID Theft programs, to identify and prevent potential regulatory or internal violations.
Design and implement improvements in communication, monitoring, and enforcement of applicable standards.
Understand the credit union’s regulatory and internal requirements and needs.
Stay abreast of relevant laws, regulations, and industry best practices pertaining to BSA, AML, and Fraud detection and prevention.
Interpret and communicate regulatory requirements to ensure the organization's BSA, AML, and Fraud policies and procedures remain compliant.
Review regulatory documentation and establish applicability of requirements to business units.
Develop, review, and update BSA/AML policies and procedures in response to changing regulations and emerging risks.
Conduct risk assessments related to BSA, AML, and Fraud, identifying potential vulnerabilities and recommending mitigation strategies.
Recommend and, in cooperation with subject matter experts, develop appropriate controls that would address related regulatory and internal requirements.
Oversee and conduct investigations into suspicious activities, coordinating with law enforcement agencies as necessary.
Ensure timely and accurate reports are submitted to regulatory authorities.
Enforce related regulatory and internal policy compliance; provide controls assurance by evaluating controls.
Ensure control effectiveness and efficiency.
Collaborate with internal stakeholders, including legal, risk management, and business units, to ensure a holistic approach to compliance.
Direct leadership of the BSA Compliance team members for all avenues of the BSA/AML, CIP, OFAC, and ID Theft.
Oversight of activities to ensure adherence to policy, procedures, and regulatory requirements.
Builds and executes a plan for individual and team education, growth, and performance.
Oversee and manage the administration of software tools or entities utilized for regulatory compliance related to BSA/AML and OFAC, FinCEN 314(a), 314(b), etc.
Stay abreast of technological advancements in BSA/AML/Fraud prevention tools and solutions.
Develop and deliver training programs to ensure employees are well-informed about BSA/AML/Fraud prevention policies and procedures.
Foster a culture of compliance and vigilance throughout the organization.
Oversee Fraud Detection and Prevention programs.
Implement and manage robust monitoring systems to detect and prevent suspicious activities and fraudulent transactions.
Oversee documenting and reporting of suspected fraud occurrences and trends, including insider investigations.
Share findings from investigations with various levels of leadership.
Serve as a liaison with law enforcement entities.
Build strong relationships with external stakeholders, including regulatory bodies and industry peers.
Oversee the fraud tool and the processing of alerts and reviews (Verafin).
Review, recommend, and successfully implement new methods, procedures, and training materials to ensure daily operations are more efficient and effective in detecting and preventing fraud.
Monitor incidents of loss for frequency, trends, evidence of weak controls, etc. and make recommendations as appropriate.
Responsible for monitoring external fraud trends and documenting all aspects of exposure and mitigation within transaction and lending channels.
Direct leadership of the fraud operations team and the roles’ operational processes for all avenues of fraud.
Oversight of activities to ensure adherence to policy, procedures, and regulatory requirements.
Builds and executes a plan for individual and team education, growth, and performance.
Please note this job description is not a comprehensive list of activities, duties or responsibilities that are required in this position. Duties, responsibilities and activities may change at any time with or without notice.