Risk & Compliance Specialist

Responsible for supporting the credit union's BSA/AML compliance and fraud monitoring program. Conducts investigations of suspicious activity, administers and monitors automated compliance systems, prepares regulatory filings, processes legal documents, and assists in maintaining compliance with applicable federal and state laws and regulations. Partners with internal departments, vendors, auditors, and regulators to promote an effective risk-based BSA/AML compliance and fraud monitoring program while supporting the credit union's operational objectives.

• Support the Risk & Compliance Director in running the credit union's BSA/AML compliance and fraud monitoring program. This includes oversight of the Member Due Diligence (MDD) and Enhanced Due Diligence (EDD) program, the Member Identification Program (MIP), Beneficial Ownership verification, OFAC screening, and FinCEN reporting. Recommend improvements to policies, procedures, and internal controls as needed.
• Monitor, maintain, and perform testing of the credit union's automated BSA/AML transaction monitoring, OFAC screening, customer risk rating, and related compliance systems. Evaluate system performance, validate data integrity, monitor rule effectiveness, recommend tuning enhancements, and coordinate testing following system updates, rule changes, or implementation of new products, services, or payment channels.
• Investigate Suspicious Activity:
  Conduct investigations into potential fraud and unusual member behavior triggered by automated alerts, employee referrals, or law enforcement requests.
• Analyze Transaction Data:
  Review account activity across standard and digital methods (including cash, checks, wires, ACH, debit cards, and P2P platforms) to identify potential financial crimes.
• Proactively Mitigate Fraud Risks:
  Track emerging fraud trends and internal control gaps, escalating findings to actively prevent losses and fortify the credit union's BSA/AML program.
• Prepare, document, and timely file Suspicious Activity Reports (SARs), Currency Transaction Reports (CTRs), OFAC investigations, FinCEN 314(a) responses, and other required regulatory filings. Maintain complete, accurate, and well-supported investigative documentation in accordance with regulatory requirements and internal standards.
• Perform Member Due Diligence (MDD) and Enhanced Due Diligence (EDD) reviews of higher-risk members, businesses, and legal entities, including evaluation of ownership structures, Ultimate Beneficial Owners (UBOs), expected account activity, source of funds, and other risk indicators, as appropriate.
• Support the credit union's BSA/AML and financial crimes compliance program by assisting with periodic risk assessments, internal and external audits, regulatory examinations, corrective action efforts, and ongoing compliance initiatives. Serve as an operational resource for Shared Branching transaction monitoring and other regulatory compliance matters.
• Partner with departments across the credit union—including Operations, Member Services, Lending, and IT—to resolve compliance issues, support investigations, and close operational fraud vulnerabilities.
• Process garnishments, levies, subpoenas, court orders, and other legal documents in accordance with applicable laws and credit union procedures.
• Maintain current knowledge of BSA/AML regulations, OFAC requirements, FinCEN guidance, financial crime trends, and emerging risks affecting financial institutions through ongoing education and professional development.

• Conducts every aspect of this position, involving interpersonal relations, in line with the concept that all personnel, staff, shareholders and visitors are afforded full and equal treatment in all matters without regard to race, creed, color, sex, sexual orientation, age, national origin, lawful political affiliation, physical handicap or marital status.
• Periodically serves on various credit union committees (i.e. Safety, Social Events, etc.)
• Perform other duties and responsibilities as assigned by the Risk & Compliance Director or President/CEO.
• Attend required training and maintain any certifications…