BSA Specialist; Onsite

The BSA Specialist assists in the day-to-day BSA/AML responsibilities within the BSA department. Responsibilities will include but not limited to reviewing and investigating alerts; currency transaction reports; high risk accounts; monitoring activity; identifying suspicious activity, performing enhanced due diligence on customers and accounts, interpreting company’s policy and procedures pertaining to compliance and BSA/AML/OFAC, keeping up to date of timely reporting of all activity to the AML/BSA Officer.

About Frontwave Credit Union:

Frontwave Credit Union is a member-owned not-for-profit financial institution serving San Diego, Riverside, San Bernardino and Imperial counties. Founded in 1952, we have grown to 18 branches with 125,000 members and manage over 1.8 billion in assets. At Frontwave Credit Union, we are focused on creating consumer solutions to provide our members and the communities we serve with products and services that enhance the quality of life for our members through exceptional service and the progressive application of technology.

What’s In It For You:
Competitive pay, 401k matching, mortgage and auto discounts.
9-27 days of PTO per year (based on tenure), VTO and 11 paid holidays.
Affordable medical, dental, vision health plans, and Flexible Spending Account.
Employee Assistance Program with a variety of services.

Career development , training, and coaching, mentoring; tuition reimbursement up to $4,000/year.
Culture of excellence and continuous improvement.
We strive to be the best place you’ve ever worked!

Essential Duties and Responsibilities:

Includes the following non-inclusive list. Other duties may be assigned. All duties are to be performed in compliance with applicable laws, regulations, and Credit Union policies and procedures.

Demonstrated knowledge and compliance with all aspects of the Bank Secrecy Act.

• Investigate alerts from AML/BSA software and either clear alerts with proper supporting documentation or escalate for Suspicious Activity Reports (SARs) filing.

• Prepare and execute all CTRs for filing.

• Review potential OFAC alerts, from all platforms, and determine appropriate disposition.

• Review, and analyze all accounts to identify possible suspicious activity and escalate cases as necessary.

• Monitors accounts and prepare detailed investigations and narratives for Suspicious Activity Reports (SARs) filing.

• Assist with the updating and maintenance of AML/BSA Compliance Procedures ensuring compliance with all federal and state regulations.

• Supporting the AML/BSA Officer with the development, implementation, and administration of all aspects of the BSA Program.

• Reviews high-risk and/or complex business structures for new account approvals, and openings, to assess BSA/AML risk.

• Assist AML/BSA Officer with internal and external audits, SAR filing, and risk reviews.

• Ensure effective transaction monitoring and account oversight is implemented to identify suspicious transactions for reporting.

• Assist the AML/BSA Officer with timely and accurate completion of Law Enforcement requests.

• Conducting and managing incoming and outgoing 314(b) information sharing requests

• Reviewing and investigating OFAC and 314(a) Watch List alerts and properly documenting alert disposition.

• Creating and managing all cases within Verafin to ensure accurate record keeping and proper retention is maintained.

• Reviewing system generated alerts and/or business unit referrals for potential suspicious activity, including performing transactional research and analysis; and thoroughly documenting associated research and disposition

• Reviews and analyzes transaction data through daily reports and system alerts for unusual activity; investigates and researches as necessary.

• Draft written summaries of investigative findings and make recommendations to the AML/BSA Officer.

• Participates in training related to Bank Secrecy Act/Anti-Money Laundering requirements of the institution as it relates to the specific position held.

• Effectively detect patterns and conditions through observing processes

• Conduct reviews for enhanced due diligence on high-risk accounts, including MSB related…