BSA & Fraud Officer

First Fed is a local community bank on an exciting growth trajectory with 17 locations including 12 full-service branches in Western Washington. First Fed was recognized by the Puget Sound Business Journal as a Best Workplace and a Top Corporate Philanthropist. By popular vote, First Fed received awards for Best Bank in The Best of the Northwest, Best Banker in Readers’ Choice by Cascadia Daily News, and Peninsula Daily News named us B est Bank on the Olympic Peninsula.

We also received a Best-In-State bank award from Forbes.

For over 100 years First Fed has served our customers and communities throughout the PNW. We’ve donated over $9 million to non-profit organizations in the past 8 years through our foundations, sponsor ships, direct donations, and matched employee donations. Our amazing team has volunteered over 25,000 hours in the past 5 years – many by using our benefit of 3 paid volunteer days per year!

We welcome applicants from all backgrounds – our diversity makes us stronger. Join our award-winning team!

Optimism:
We are positive and decisive. We believe the future will be better than the past. Our attitude demonstrates persistence which leads to success.

Initiative:
We are self-starters and find innovative solutions. We are courageous, entrepreneurial, and passionate. We take action for good.

Respect:
We include individuals from diverse backgrounds and with different perspectives. We are committed to honoring and serving others.

Growth:
We learn and adapt so we can continually improve. We believe in personal growth through grit and determination.

Ownership:
We are invested in our endeavors. We are accountable and take responsibility for our actions and decisions.

The BSA and Fraud Officer is responsible for administering, coordinating, developing, implementing, and maintaining all aspects of First Fed’s Bank Secrecy Act Combating the Financing of Terrorism (CFT)/ Anti-Money Laundering, OFAC, US Patriot Act, Bank Protection Act, and the bank’s fraud compliance programs, ensuring a high level of compliance with related laws, regulations, internal policies and procedures and Federal regulatory expectations.

This position must be able to independently recognize, develop, and implement cost effective compliance related solutions for the CFT/AML and Fraud programs that align with the Bank’s strategic objectives. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.

• Analyzes complex anti-money laundering matters and provide advice and direction to business line areas and to the BSA and Fraud staff.
• Assists with regulatory examinations and audits, including gathering requested information and developing responses to such reviews as necessary.
• Responds to requests by law enforcement including subpoena requests as appropriate.
• Keeps senior management informed regarding compliance issues and elevated risks by providing regular reporting to the Director of Risk and Compliance, the Board of Directors, Enterprise Risk Management Committee, and others as appropriate.
• Ensures the bank’s programs and systems designed for compliance with BSA are proactive to changes in regulation and with changing methodologies and typologies of money laundering, terror financing, and compliance management.
• Manages the SAR Committee and provides sound recommendations and detailed documentation on decisions made during committee meetings.
• Establishes and maintains an effective Customer Due Diligence/Enhanced Due Diligence (CDD/EDD) program with appropriate risk rating of high-risk customers to include initial and ongoing assessments and reviews providing documentation of the reviews.
• Maintains an effective fraud program with ongoing monitoring using a combination of software systems and analysis to protect the bank and its customers from financial loss.
• Conducts time sensitive investigations of external and internal fraud against the bank, and against bank customers.
• Manages fraud cases and losses that affect the bank and its customers and prepare fraud loss and trend reporting for management.
• Provides recommendations to management on…