Senior BSA Investigator

Tower Federal Credit Union-posted 2 months ago
$40 - $50/Yr
Full-time • Senior
Laurel, MD
501-1,000 employees
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This position provides indirect oversight of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) team, ensuring quality assurance in key areas such as alerts, Currency Transaction Reports (CTRs), Suspicious Activity Reports (SARs), new membership reviews, and OFAC screenings. The Senior BSA Investigator actively participates in annual regulatory examinations and audits, identifying opportunities for process improvements and recommending enhancements to strengthen compliance. This role supports the BSA Officer by overseeing daily BSA operational tasks, enabling the Officer to focus on the strategic management and broader implementation of the BSA program across the credit union.

  • Oversees the daily BSA functions which include: OFAC, Alerts, SARs, CTRs and Quality Assurance.
  • Maintains a working knowledge of the Bank Secrecy Act and all related anti-money laundering/CFT, USA Patriot Act and OFAC regulations.
  • Recognizes and analyzes Verafin updates, propose process changes, troubleshoot data issues, and assist with model tuning/validation.
  • Conducts quality reviews of team members' work and review cases for SAR creation.
  • Plans, leads and conducts anti money laundering (AML)investigations into potential suspicious activity, including those generated from transaction monitoring system, internal referrals, subpoenas, negative news, as well as other sources.
  • Provides leadership and oversight for the technical work of the BSA team.
  • Analyzes team activity to ensure timely completion of work in accordance with established laws and regulations.
  • Provides mentorship and act as an escalation point for team members as well as internal partners.
  • Thoroughly and timely reviews reports and other investigative leads that potentially identify suspicious activity.
  • Monitors operational metrics to provide insight to management on business performance and recommend solutions and improvements.
  • Collaborates with Fraud Team Leaders on cross-department investigations and assist in answering BSA related questions.
  • Provides guidance, direction, and assistance to investigators and other team members in determining whether to close cases, escalate findings and/or file a Suspicious Activity Report (“SAR”).
  • Participates in special projects, working groups, etc. as a BSA/AML & OFAC Risk subject matter expert (SME).
  • Maintains an up-to-date knowledge and level of expertise in relevant laws, regulations and typologies and trends in AML.
  • Assists in the review and provide recommendations for updates to the BSA/AML Risk Assessment and BSA Program on no less than annual basis.
  • Proactively recommends and implements updates to existing written procedures collaborating with other team members to improve procedures and processes, education materials and forms and in consultation with BSA Compliance Officer.
  • Proactively identifies trends in recurring AML violations.
  • Conducts quality control reviews and provides feedback to team members
  • Prepares high-quality Suspicious Activity Reports (SARs) and provide guidance to team members on SAR development.
  • Participates in SAR Committee meetings to review and discuss suspicious activity cases.
  • Acts as in-house expert of BSA software, including Verafin, identifying system issues, coordinating software upgrades, and researching vendor updates.
  • Analyzes Verafin daily logs to validate data delivery and promptly addresses discrepancies or errors with the vendor.
  • Assists in the development, coordination, and facilitation of AML/BSA/CFT/OFAC training programs to educate all credit union staff/departments
  • Bachelor's degree in Business Administration, Finance, Accounting or related field
  • Minimum of 5 years of experience in financial services investigation and/or fraud prevention roles.
  • Leadership experience including directing and delegating activities of team members, and performance management, career development, coaching, and mentoring.
  • Familiar with the operation of credit union products, services and systems.
  • Extensive experience supporting risk/compliance initiatives within a business.
  • Highly independent, organized, and able to work autonomously in a fast-paced and time sensitive setting
  • Or equivalent combination of education and experience
  • Ability to communicate investigative results and evidence to those concerned in a professional, prompt, impartial, confidential, and accurate manner
  • Proficiency in the use of Standard Microsoft Office applications including Word, Excel.
  • Ability to read, analyze and interpret government regulations and compliance standards.
  • Ability to define problems, collect data, establish facts and draw valid conclusions.
  • Successful experience and ability to provide explanation in one-on-one situations either in person or over the phone with tact, sensitivity, respect and confidence.
  • Ability to define problems, collect data, establish facts and draw conclusions.
  • Ability to focus on details, verify accuracy of information and evidence gathered in the investigative process.
  • Ability to work productively and effectively under high stress within the work group
  • Ability to interact effectively and professionally with colleagues and supervisors as a key team member.
  • Must be able to operate and proficiently use standard office equipment, including phone, copier, personal computer and/or other work related mechanical or electronic devices and applications.
  • Must be able to clearly communicate verbally and in writing with all internal and external members.
  • Must also be able to hear sufficiently to engage in daily discussions and interactions.
  • Capable of executing a range of complex tasks and analyses
  • Advanced verbal, written, interpersonal, and presentation skills to communicate clearly and concisely technical and non-technical information to all levels
  • Previous supervisory or management experience
  • Advanced research, analytical, and problem-solving skills
  • Ability to develop solutions for problems with concrete and/or abstract variables
  • Flexibility (able to adapt to changing environment), ability to constantly reprioritize
  • Advanced knowledge and understanding of AML and fraud investigations as well as state laws and regulations.
  • Effective skill to influence, negotiate and persuade to reach agreeable exchange and positive outcomes
  • Has knowledge of and adheres to credit union policies and procedures and all regulations related to the bank Secrecy Act, the USA Patriot Act and OFAC.
  • All full-time positions include exceptionally low medical premiums in addition to a whole host of other benefits.
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