Risk & Compliance Specialist

Pearl Hawaii Federal Credit Union•Waipahu, HI

2d•$23 - $32•Onsite

About The Position

Responsible for supporting the credit union's BSA/AML compliance and fraud monitoring program. Conducts investigations of suspicious activity, administers and monitors automated compliance systems, prepares regulatory filings, processes legal documents, and assists in maintaining compliance with applicable federal and state laws and regulations. Partners with internal departments, vendors, auditors, and regulators to promote an effective risk-based BSA/AML compliance and fraud monitoring program while supporting the credit union's operational objectives.

Requirements

Working knowledge of BSA, AML, OFAC, USA PATRIOT Act, and FinCEN regulations is preferred.
Strong analytical, investigative, and problem-solving skills.
Ability to identify suspicious activity through analysis of financial transactions and account behavior.
Ability to interpret and apply laws, regulations, policies, and procedures.
Strong written communication skills with the ability to prepare professional investigative narratives and regulatory filings.
Excellent organizational and time management skills.
Ability to maintain confidentiality and exercise sound judgment.
Proficiency with Microsoft Office Suite and financial institution software applications.
One to three years of experience in BSA/AML, fraud, compliance, or financial investigations preferred.
Experience using automated transaction monitoring systems is preferred.
Experience with Verafin or similar financial crimes platforms is desirable.
Must successfully complete all required regulatory, compliance, and job-specific training and participate in continuing education necessary to maintain proficiency.
Professional certification such as Bank Secrecy Act Compliance Specialist (BSACS), CAMS (Certified Anti-Money Laundering Specialist), or equivalent financial crimes certification is required. Candidates without current certification must obtain certification within six (6) months of hire.
Must be bondable and pass background check requirements as defined by the credit union and applicable regulatory standards.

Nice To Haves

Working knowledge of BSA, AML, OFAC, USA PATRIOT Act, and FinCEN regulations.
Experience using automated transaction monitoring systems.
Experience with Verafin or similar financial crimes platforms.

Responsibilities

Support the Risk & Compliance Director in running the credit union's BSA/AML compliance and fraud monitoring program, including oversight of Member Due Diligence (MDD), Enhanced Due Diligence (EDD), Member Identification Program (MIP), Beneficial Ownership verification, OFAC screening, and FinCEN reporting. Recommend improvements to policies, procedures, and internal controls.
Monitor, maintain, and perform testing of automated BSA/AML transaction monitoring, OFAC screening, customer risk rating, and related compliance systems. Evaluate system performance, validate data integrity, monitor rule effectiveness, recommend tuning enhancements, and coordinate testing following system updates, rule changes, or implementation of new products, services, or payment channels.
Conduct investigations into potential fraud and unusual member behavior triggered by automated alerts, employee referrals, or law enforcement requests.
Review account activity across standard and digital methods (including cash, checks, wires, ACH, debit cards, and P2P platforms) to identify potential financial crimes.
Track emerging fraud trends and internal control gaps, escalating findings to actively prevent losses and fortify the credit union's BSA/AML program.
Prepare, document, and timely file Suspicious Activity Reports (SARs), Currency Transaction Reports (CTRs), OFAC investigations, FinCEN 314(a) responses, and other required regulatory filings. Maintain complete, accurate, and well-supported investigative documentation.
Perform Member Due Diligence (MDD) and Enhanced Due Diligence (EDD) reviews of higher-risk members, businesses, and legal entities, including evaluation of ownership structures, Ultimate Beneficial Owners (UBOs), expected account activity, source of funds, and other risk indicators.
Assist with periodic risk assessments, internal and external audits, regulatory examinations, corrective action efforts, and ongoing compliance initiatives. Serve as an operational resource for Shared Branching transaction monitoring and other regulatory compliance matters.
Partner with departments across the credit union—including Operations, Member Services, Lending, and IT—to resolve compliance issues, support investigations, and close operational fraud vulnerabilities.
Process garnishments, levies, subpoenas, court orders, and other legal documents in accordance with applicable laws and credit union procedures.
Maintain current knowledge of BSA/AML regulations, OFAC requirements, FinCEN guidance, financial crime trends, and emerging risks affecting financial institutions through ongoing education and professional development.
Conduct every aspect of this position, involving interpersonal relations, in line with the concept that all personnel, staff, shareholders and visitors are afforded full and equal treatment in all matters without regard to race, creed, color, sex, sexual orientation, age, national origin, lawful political affiliation, physical handicap or marital status.
Periodically serve on various credit union committees (i.e. Safety, Social Events, etc.).
Perform other duties and responsibilities as assigned by the Risk & Compliance Director or President/CEO.
Attend required training and maintain any certifications required for the position.
Maintain a secure, organized, and confidential work environment.
Serve as a resource for employees regarding BSA/AML, OFAC, and financial crimes compliance policies, procedures, and regulatory requirements.