Sr. Bank Secrecy Act (BSA) Analyst

Job Type: Full-Time

Exemption Type: Non-Exempt

Wage Amount: $30.61 hourly minimum

The Sr. BSA Analyst position has the primary responsibility to support the Sr. Compliance Officer (BSA) in the development, implementation, and maintenance of the BSA Program for A+ Federal Credit Union (A+FCU). This position will assist in ensuring adherence to BSA, Anti Money Laundering (AML), Customer Identification Program (CIP), Customer Due Diligence (CDD) and Office of Foreign Assets (OFAC) policies and requirements.

The Sr. BSA Analyst is responsible for conducting investigations and monitoring of transactions, mitigating money laundering risks to A+FCU and its members. The Analyst is responsible for account identification, analyzing and reporting any activity believed to be associated with unusual and suspicious account activity such as potential structuring, money laundering or terrorist financing to ensure the CU is in compliance with BSA and the USA Patriot Act. This includes identification of unusual transactions and escalating incidents to the Sr. Compliance Officer, as appropriate, in a timely and accurate manner. The Analyst will also monitor daily and unscheduled alerts and ongoing reporting as well as review the work product of Compliance Analysts and Associates.

Essential Functions:

• Department Support
  • Assist with day-to-day operations, direction, and guidance by monitoring the Compliance Analysts and Associates.
  • Coordinate and/or conduct educational training sessions for Compliance Analysts and Associates and/or credit union staff related to compliance topics and security.
  • Ensure that Compliance Analysts and Associates maintain member confidentiality and restricted reports confidentiality.
  • Assist with employee and department dialogs.
• Regulatory
  • Oversee CDD/EDD member reviews, including high risk member reviews.
  • Oversee, and perform as needed, searches as requested by FinCEN under section .314 (a) of the USA Patriot Act.
  • Oversee, conduct, and respond as needed to 314 (b) Information Sharing Requests.
  • Manage and ensure Office of Foreign Assets Control (OFAC) compliance.
  • Conduct in-depth research into member accounts and properly document and escalate findings.
  • Assist with the identification, completion and filing of suspicious activity reports.
  • Assist with the completion of the annual BSA/AML/OFAC Risk Assessment.
  • Ensure the proper review, completion and filing of the required forms to comply with Bank Secrecy Act (BSA)
  • Assist the Sr. Compliance Officer - BSA with the following regulatory aspects:
    • Execute product and compliance risk assessments to develop and implement strategies for effective risk management.
    • Notify the appropriate department heads of current or upcoming compliance matters and collaborate with management to execute changes within the prescribed regulatory deadlines, if needed.
    • Implement follow-up strategies with department leaders to develop the appropriate controls to ensure compliance.
    • Respond to concerns or complaints of noncompliance.
  • Stay apprised of new or changing legislative and regulatory issues impacting credit unions on the local, state, and federal levels.
• Compliance
  • Conduct testing and perform research, investigations, and reviews to identify and resolve compliance issues.
  • Develop, update, and maintain policies and procedures.
  • Assist the Sr. Compliance Officer - BSA with the following compliance support aspects:
    • Revising forms and disclosures as dictated by changes in laws, regulations, and policies or procedures.
    • Designing or redesigning the processes, workflow, and computer programming for new or changing Credit Union products and services.
    • Keeping the Disaster Recovery Plan update as well as educating management and staff on how to apply this plan, as directed.
  • As requested, provide guidance to Marketing Department to ensure advertisements, brochures, website, and promotions meet legal and regulatory requirements.
• Training
  • Provide training to staff regarding compliance matters, i.e., BSA, AML, CIP, OFAC, etc.
• Miscellaneous
  • As requested, participate as a member or consultant in organizational and department projects.
  • Support and work toward achievement of Credit Union goals.
  • Other duties as assigned.

Education and Experience

• Bachelor’s degree in business administration or related field or equivalent experience required
• Four years of experience within the financial industry required
• Four years of financial institution BSA/AML experience required
• Experience with Verafin or another automated BSA/AML platform required
• CRCM, CAFP, CUCE, CFE, CAMS Certification(s) preferred or the desire to obtain

Knowledge, Skills & Abilities

• Strong knowledge of BSA/AML compliance
• Thorough knowledge of USA PATRIOT ACT, OFAC and other related deposit rules and regulations
• Highly organized and detail oriented
• Excellent investigative and research skills
• Strong editorial skills in English composition, grammar and proofreading
• Ability to communicate clearly and concisely in writing and verbally, ability to manage multiple priorities at one time and oversee confidential information
• Analytical
• Professional and well-developed interpersonal skills necessary to interact courteously and effectively with staff, members, attorneys, auditors, and regulators
• Effectively develop and conduct presentations and trainings
• Ability to assess needs of multiple staff members, prioritize requests, and make adjustments necessary due to new or changed regulations or strategic objectives of the Credit Union
• Ability to interact with multiple individuals and departments daily
• Ability to be creative and resourceful in order to accomplish the requirements of this position with little supervision
• Broad knowledge and understanding of financial institutions, products and services
• Basic math/accounting skills
• Data entry skills
• Ability to travel and participate in conferences/seminars to improve on existing work knowledge

Desirable Traits

• Pleasant and professional appearance
• Verbal skills
• Flexible working hours
• Dependable
• Possess decision-making abilities.
• Versatile in all aspects of the CU

Physical Functions

• Must have the ability/stamina to work at least 40 hours a week
• Will frequently reach, feel, bend, stoop, carry, finely manipulate, and key in data
• Must be able to communicate heavily through telephone, e-mail, and in-person communications
• Must be able to engage in critical thinking skills to help identify and solve potential issues in the field

Work Environment

Work schedule requires the ability to work flexible hours, to travel and infrequently stay out-of-town overnight. Work creates moderate stress due to deadlines and multiple responsibilities. The job volume will vary along with the pace required to meet the needs of management and staff and ultimately the membership.

This is a remote position. Relocation is not covered.