JOB SUMMARY
The VP/BSA Officer will be responsible for OnPoint Community Credit Union’s BSA/AML and OFAC Compliance Program to ensure it meets all regulatory requirements and guidelines issued by the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), National Credit Union Administration, and other relevant bodies. The BSA Officer will be responsible for maintaining OnPoint’s BSA/AML and OFAC Compliance Program through written policies and procedures, controls, monitoring transactions, member due diligence, enhanced due diligence, quality control, reporting, training, and maintaining appropriate risk assessments. The BSA Officer will report to the SVP/Chief Risk Officer and facilitate reporting to the Executive Risk Committee and Board Risk Committee on all relevant BSA/AML and OFAC compliance matters.
RESPONSIBILITIES
Program Development and Implementation:
- Develop, implement, and maintain the Credit Union’s BSA/AML Program, including an effective Member Identification Program and Member Due Diligence processes
- Ensure the Credit Union's compliance with BSA/AML regulations, including, but not limited to, the Bank Secrecy Act, USA PATRIOT Act, Office of Foreign Assets Control (“OFAC”), and other relevant regulations
- Update and revise BSA/AML and OFAC policies and procedures as necessary to reflect changes in regulations and industry best practices
- Ensure enhanced due diligence is conducted for high-risk members
- Develop and deliver BSA/AML training and programs for Credit Union employees, including new hires and annual refresher courses
- Stay current on regulatory changes and ensure the Credit Union’s staff is informed and trained
- Perform annual BSA/AML and OFAC risk assessments to identify potential risk within the organization
- Provide ongoing support and research to the Credit Union’s first line of defense for BSA/AML and OFAC compliance related matters and questions
- Work with management to identify and assess BSA/AML risks related to new products and services.
Monitoring and Reporting:
- Maintain comprehensive records of all BSA/AML compliance activities, including SARs, CTRs, risk assessments, and training records
- Prepare and manage reports on BSA and OFAC activities for the Board, Board Risk Committee, and Executive Risk Committee
- Oversee and perform monitoring of transactions for suspicious activity, including the use of the BSA/AML software, tools, and other manual processes to detect money laundering and terrorist financing activities. Including escalating alerts to cases for further review to determine suspicious activity and ensure timely resolution
- Ensure timely and accurate filing of SARs and Currency Transaction Reports (“CTRs”)
- Coordinate with law enforcement and regulatory agencies during investigations
- Ensure proper documentation of all compliance efforts and decisions
- Serve as the primary contact for BSA regulatory agencies and examiners
- Perform and review onboarding and ongoing of high-risk members relating to member due diligence (MDD) and enhanced due diligence (EDD) reviews
- Conduct manual monitoring reviews (cash transaction reports, credit card activity, gift cards, wealth management transaction activity, monetary instruments, and OFAC)
QUALIFICATIONS
- Bachelor’s degree
- Certified Anti-Money Laundering Specialist (CAMS) or similar certification
- Minimum of 7-10 years of experience in BSA/AML compliance within the financial services industry
- Experience with BSA/AML software (e.g., Verafin, BAM+, Actimize) is preferred
- In-depth knowledge of BSA/AML laws, regulation, and best practices and understanding of the required elements of a BSA/AML and OFAC compliance program
- Strong analytical and problem-solving skills and attention to detail
- Excellent project and time management skills and ability to manage and prioritize rapidly changing workloads and meet deadlines
- Excellent communication and interpersonal skills and ability to present before executives and directors
At OnPoint, we believe a workplace that reflects the richness of the world fosters a welcoming and empowering environment for everyone. We're committed to equity and inclusion, and consider all qualified applicants embracing every race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and your unique background.
We encourage you to apply if you're passionate about this opportunity and have the core qualifications. Your unique experiences and skills are what make you a strong candidate. Don’t let imposter syndrome hold you back! Our recruitment process is designed to be inclusive and accessible to all. If you need any accommodations during the application or interview stage, please let us know. We're dedicated to providing what's necessary to ensure a fair and inclusive experience.
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Job Details
- Job Family
- Compliance
- Job Function
- Compliance
- Pay Type
- Salary