BSA Specialist; Onsite

Overview

The BSA Specialist assists in the day‑to‑day BSA/AML responsibilities within the BSA department. Responsibilities include reviewing and investigating alerts, currency transaction reports, high‑risk accounts, monitoring activity, identifying suspicious activity, performing enhanced due diligence on customers and accounts, interpreting the company's policy and procedures related to compliance and BSA/AML/OFAC, and keeping up to date on timely reporting of all activity to the AML/BSA Officer.

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. 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.

• 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:

• Investigate alerts from AML/BSA software and either clear alerts with proper supporting documentation or elevate 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 elevate cases as necessary.
• Monitor accounts and prepare detailed investigations and narratives for Suspicious Activity Reports (SARs) filing.
• Assist with updating and maintaining AML/BSA Compliance Procedures to ensure compliance with all federal and state regulations.
• Support the AML/BSA Officer with the development, implementation, and administration of all aspects of the BSA Program.
• Review 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 to identify suspicious transactions for reporting.
• Assist the AML/BSA Officer with timely and accurate completion of Law Enforcement requests.
• Conduct and manage incoming and outgoing 314(b) information sharing requests.
• Review and investigate OFAC and 314(a) Watch List alerts and properly document alert disposition.
• Create and manage all cases within Verafin to ensure accurate record keeping and proper retention is maintained.
• Review system generated alerts and/or business unit referrals for potential suspicious activity, including performing transactional research and analysis; and thoroughly document associated research and disposition.
• Review and analyze transaction data through daily reports and system alerts for unusual activity; investigate and research as necessary.
• Draft written summaries of investigative findings and make recommendations to the AML/BSA Officer.
• Participate 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 relationships. Review all related relationships and detail all areas in a comprehensive narrative.

Bachelor’s degree; or 3 plus years of related experience and/or training; or the equivalent combination of education and experience within the financial industry sector.

One to two years’ experience in a banking position either in a BSA position, or another position where BSA…