BSA Officer

The BSA Officer will manage the credit union's BSA/Fraud functions ensuring compliance with all applicable regulations and credit union policies and procedures:
Responsible for BSA, AML, OFAC, FINCEN, CIP, and USA Patriot compliance, Fraud monitoring, detection, and investigation. Manages the Fraud Team and makes recommendations to management relating to fraud mitigation. Serves as administrator for the Verafin BSA/AML and Fraud software tool and Lexis Nexis Instant  full utilization of functionalities. Responsible for related risk assessments, policies, and procedures. Assists with creation of related staff training.

Serves as the Credit Union Contact for NCUA consumer affairs.

Essential Functions & Responsibilities:

• Serve as the designated BSA Officer. Ensure clean audits and exams.
• Act as the administrator of Verafin Software & Instant  integrity of data and full utilization of functionality. Use tools to identify high risk accounts, early detection of fraud, kiting and money laundering suspects.
• Regularly run Office of Foreign Asset Control (OFAC) and 314a checks, research any and all matches; insure OFAC is run on all required transactions and names including cashier’s checks, on‑us items etc.
• Regularly monitor Suspicious Activity Reporting (SARs). Collaborate on all SAR decisions for reporting to FinCEN and the Board of Directors. Ensure SAR descriptions and details meet standards.
• Ensure all Currency Transactions Reports (CTRs) are generated, compliant, and reported timely. Address opportunities in documentation provided by branch and operations staff, and provide training to correct as needed. Identify any transactions that could be missed such as shared branching and create mitigating controls.
• Ensures BSA/ Fraud team is up-to-date on all regulatory changes and is well versed in using BSA/AML/CIP tools. Assist in creating company-wide compliance training programs as needed and ensure all associates/volunteers complete required BSA-related annual training.
• Assist Auditors and Examiners during all periodic BSA/AML/Fraud related compliance reviews. Respond to and address findings.
• Develop and maintain timely updates of all BSA/CIP/OFAC/AML Policies, Procedures and Risk assessments.
• Participate on Compliance Committee.
• Assist retail staff with questions, provide guidance on BSA related issues.
• Follow‑up on any irregularities that come from newly opened accounts identified through Instant /FRaM.
• Mitigate fraud losses through fraud prevention, early detection, fraud investigations and recovery.
• Stay informed of best practices for fraud prevention. Make recommendations to management for policies, procedures and system settings to mitigate fraud.
• Process returned deposit checks and react to potential fraud quickly, keep retail informed of losses due to no holds. Share information for communal learning. Track losses and trends.
• Utilize internal/external resources to detect, investigate and analyze potential fraud including shared branching reports. Conduct suspicious activities investigations.
• Supervise the fraud specialist daily work.
• Ensure all bond claims are accurate and filed in a timely manner.
• Ensure the credit union has a robust program of monitoring for Red Flags of Identity theft.
• Assist retail with questions, provide guidance on check holds and fraud related issues.

Five years to eight years of similar or related experience, including time spent in preparatory positions. Experience in an operations role with a financial institution encompassing a broad knowledge of products and services is required. Strong familiarity with compliance related issues, check holds, CTRs and SARs is required. Fraud investigation experience is preferred.

(1) A two‑year college degree, or (2) completion of a specialized certification or licensing, or (3) completion of specialized training courses conducted by vendors, or (4) job‑specific skills acquired through an apprenticeship program.

Maintains required certification(s) for the role of BSA Compliance Officer. Maintains Certified Fraud Examiner Certificate.

Work involves much personal contact with others inside and/or outside the…