BSA Specialist

The BSA/AML/Fraud Specialist is responsible for assisting with anti-money laundering, fraud detection, identification, monitoring and reporting and compliance initiatives. This highly detailed individual will provide support to the Credit Union's BSA Officer and Compliance Officer on BSA/AML/OFAC/US Patriot Act compliance issues and fraudulent activity through review of high risk and moderate risk accounts, monitor and review Alerts/Cases produced by the BSA/Fraud monitoring application to determine if transactions are suspicious in nature, identify potential risk issues, complete Suspicious Activity Reports, Currency Transaction Reports, assist in providing compliance support related to the development and implementation of new Credit Union products, interact with branch personnel and customers as it pertain to BSA/AML and fraud issues, and remain current on compliance matters as they relate to Credit Unions operations, retail and lending.

• Timely review, assign and work alerts generated through the AML/Fraud software.
• Ensure that all alerts and reviews are closed/filed in accordance with department expectations and regulatory requirements.
• Accurately and efficiently conduct account and member relationship monitoring as well as performing account analysis for trends and patterns, develop write-ups and present case conclusions for review by the BSA Officer and/or Compliance Officer. Escalate abnormal conditions.
• Conduct and prepare Suspicious Activity Report Investigations and reports for review by the BSA Officer and/or Compliance Officer.
• Contact branch staff to obtain further explanation, documentation and/ or inform parties of the processes necessary to complete the account analysis.
• Ensure that all analysis information and documentation is organized and maintained appropriately.
• Ensure all records are maintained in an organized manner and according to legally prescribed retention schedules.
• Perform independent analysis for cases involving suspicious activity including, but not limited to, structuring, check fraud, kiting, ACH fraud, wire fraud and debit card fraud for presentation to the BSA Officer and/or Compliance Officer
• Perform analysis of core application and AML/Fraud system reports that identify potential suspicious activity, recommending system parameter settings to ensure relevance of reports generated by the systems and efficient utilization of the software.
• Review and document core and AML/Fraud software reports as generated in the applicable time frames for daily, weekly, bi-weekly, monthly, quarterly, etc. Notify the BSA Officer of suspect activities in a timely manner as warranted.
• Review CIP reports monthly for all new accounts, loans, and relationships missing information (including CDDs & BOIs for commercial accounts/members) on the core and/or the AML/Fraud software.
• Enter all CDD information into the AML/Fraud software as soon as available.
• Manage cases of potentially suspicious activity from the AML/Fraud monitoring software, including analysis of transaction activity and balances for review by the BSA Officer and/or Compliance Officer.
• Perform ongoing monitoring, as required, of all accounts in accordance with the established monitoring schedule.
• Assist in investigations and recovery efforts for losses related to fraud.
• Document suspicious activity reviews for presentment to the BSA Officer and/or Compliance Officer, as needed.
• Conduct comprehensive research on SCCU’s high-risk members and related parties to accounts.
• Analyze complex account structures and/or other high-risk accounts for irregular transaction behavior. Render conclusion of analysis and account disposition as well as recommendations to file SARs to BSA Officer and/or Compliance Officer
• Able to carry out to completion of high-risk account reviews with minimal supervision.
• Proficient in analysis techniques, identification of suspicious activity, documentation of findings, including knowledge of completing comprehensive Suspicious Activity Reports
• Maintain accurate tracking of assignments and requests for documentation to ensure proper tracking of deadlines, as well as following up of pending items in a timely manner.
• Review of a potential matches resulting from OFAC/SDN scan and FinCEN 314a searches, regularly scheduled and special inquiries, of potential and/or updated customers, as assigned. Escalate potential matches to the OFAC Officer.
• Verify that daily Currency Transaction Reports (CTR) are completed…