BSA​/AML​/OFAC Compliance Leader

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Full Time Management Temple Terrace, FL, US

23 days ago Requisition

Position Summary:

The BSA/AML/OFAC Officer (hereafter “the Officer”) is responsible for developing, implementing, and administering all aspects of the Credit Union’s Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Asset Control (OFAC) compliance programs and related strategies. The Officer ensures the Credit Union maintains safety and soundness and meets regulatory requirements and operational objectives by overseeing processes and procedures governing BSA/AML/OFAC operations, investigations, and reporting.

This role requires a seasoned professional with a deep understanding of regulatory compliance, risk management, and financial crime detection and prevention. The Officer leads BSA teams in developing their professional and technical skills in detection and mitigation strategies. The Officer provides insight, interpretation and guidance on policy of BSA, AML, OFAC, and related functions as an independent and objective body that reviews and evaluates related risk/compliance issues/concerns within the organization.

Essential Functions Include:

• BSA/AML and OFAC
  • Oversee the credit union’s BSA/AML, CIP, EDD, OFAC, information sharing (314(a) and 314(b)) and  Red Flags programs, to identify and prevent potential regulatory or internal violations. Design and implement improvements in communication, monitoring, and enforcement of applicable standards.
  • Understand the credit union’s regulatory and internal requirements and needs. Stay abreast of relevant laws, regulations, and industry best practices pertaining to BSA, AML, and  detection and prevention.
  • Interpret and communicate regulatory requirements to ensure the organization's BSA, AML, and related policies and procedures remain compliant.
  • Review regulatory documentation and establish applicability of requirements to business units. Develop, review, and update BSA/AML policies and procedures in response to changing regulations and emerging risks.
  • Conduct risk assessments related to BSA, AML, and  Red Flags, identifying potential vulnerabilities and recommending mitigation strategies.
  • Recommend and, in cooperation with subject matter experts, develop appropriate controls that would address related regulatory and internal requirements.
  • Oversee and conduct investigations into suspicious activities, coordinating with law enforcement agencies as necessary.
  • Ensure timely and accurate reports, including but not limited to Currency Transaction Reports (CTR’s) and suspicious activity reports (SAR’s) are submitted to regulatory authorities.
  • Enforce related regulatory and internal policy compliance; provide controls assurance by evaluating controls. Ensure control effectiveness and efficiency.
  • Collaborate with internal stakeholders, including legal, risk management, and business units, to ensure a holistic approach to compliance.
  • Direct leadership of the BSA Compliance team members for all avenues of the BSA/AML, CIP, OFAC, and . Oversight of activities to ensure adherence to policy, procedures, and regulatory requirements. Builds and executes a plan for individual and team education, growth, and performance.
  • Oversee and manage the administration of software tools or entities utilized for regulatory compliance related to BSA/AML and OFAC, FinCEN 314(a), 314(b), etc. Stay abreast of technological advancements in BSA/AML/Fraud prevention tools and solutions.
  • Develop and deliver training programs to ensure employees are well-informed about BSA/AML/Fraud prevention policies and procedures.
  • Review, recommend, and successfully implement new methods, procedures, and training materials to ensure daily operations are efficient and effective in detecting and reporting money laundering and suspicious activities. Monitor incidents of potential money laundering, trends, evidence of weak controls, etc. and make recommendations as appropriate.
  • Direct leadership of the BSA/AML/OFAC operations team and the roles’ operational…