Risk Mitigation Specialist

LOC Credit Union•Farmington, MI

3d•Onsite

About The Position

LOC Credit Union is seeking a detail-oriented, organized, and passionate Risk Mitigation Specialist to join their team. This role is crucial for ensuring the credit union remains in compliance. The specialist will handle daily Bank Secrecy Act (BSA) and fraud mitigation tasks, including account and transaction investigations, filing BSA reports, responding to information requests, conducting OFAC scans, performing member due diligence, and addressing unusual activity. The position also involves assisting with BSA quality control reviews and staff training. This is an exciting opportunity for an analytical individual eager to help maintain member trust and account security, shape compliance strategies, improve processes, and contribute to the credit union's success.

Requirements

2 years or more experience at a financial institution.
Working knowledge of the Bank Secrecy Act and OFAC regulations.
Experience investigating fraud and/or knowledge of fraud trends and schemes.

Nice To Haves

Strong investigative skills.
Willingness to be visible, interactive and available to staff.
Effective communication skills.
Firm commitment to keep Leadership and staff informed through regular communication and training.
Commitment to maintaining strict confidentiality and a high level of integrity and trust.
Detail oriented; ensuring efficiency and accuracy.
Well-developed organizational skills.
Comprehensive understanding of the Bank Secrecy Act and its implementing regulations.
BSA and/or fraud certification a plus.

Responsibilities

Performs day-to-day Bank Secrecy Act (BSA) and fraud mitigation functions.
Investigates accounts and transactions.
Files appropriate BSA reports.
Responds to information sharing requests.
Conducts Office of Foreign Assets Control (OFAC) scans.
Performs member due diligence in accordance with the Credit Union's BSA/AML program.
Responds to unusual activity questionnaires.
Speaks with colleagues and members.
Assists in performing periodic BSA quality control reviews.
Assists with staff training.