Bank Secrecy Act Specialist

EFCU Financial - Make a Difference Every Day

EFCU Financial isn't just a great place to work - it's a place where you can create meaningful impact. As one of the Best Places to Work in the Greater Baton Rouge Area, we are driven by our core values of integrity, innovation, inclusion, and service. These values guide everything we do from empowering our members to uplifting our community and supporting one another as a team.

When you join EFCU Financial, you're not simply starting a job. You're stepping into a mission-focused environment where helping people achieve financial freedom, build brighter futures, and find peace of mind is at the heart of every interaction. Every conversation you have, every solution you provide, and every idea you share contributes to making a real difference.

We proudly offer a comprehensive benefits package designed to support your health, financial well-being, and work-life balance. Benefits include medical, dental, and vision insurance; paid time off and holidays; parental leave; a 401(k) with employer contributions; short- and long-term disability; life insurance; an HSA; pet insurance; team member loan discounts; incentive plans; an employee referral program; and service awards recognizing your dedication.

The Bank Secrecy Act Specialist is responsible for compiling, monitoring, and reporting of member and account information regarding the Bank Secrecy Act (BSA) and related laws and regulations to ensure general compliance of Credit Union operations. In addition, the position is responsible for analyzing transactional data for suspicious activity as defined by the EFCU Financial Compliance Procedures.

Duties and Responsibilities:

• Monitor Credit Union account database for money laundering or illegal activity as described in Title 31 Code of Federal Regulations (CFR) Chapter X (Bank Secrecy Act).
• Analyze reports for suspicious activity as it relates to check kiting, account fraud, wire transfers, anti-money laundering, Automated Clearing House (ACH) transactions, loan fraud and plastics fraud.
• Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.
• Performs investigations regarding actual and suspected fraud, providing oversight and appropriate resolutions.
• Research and investigate possible activity on accounts to include reporting activity to appropriate law enforcement officials.
• Responsible for identifying transactions and potential suspects of suspicious activity by analyzing and presenting documentary evidence in a timely manner.
• Responsible for reviewing daily reports with transactions requiring action as described in the Bank Secrecy Act.
• Maintain a thorough knowledge of government regulations with particular emphasis on the Bank Secrecy Act and related regulations, policies, procedures, industry best practices and developing trends; including BSA, Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA) PATRIOT Act, and Office of Foreign Assets & Controls (OFAC).
• Maintain Credit Union's OFAC monitoring software.
• Update Credit Union's OFAC database regularly.
• Complete regular OFAC searches of Credit Union's database.
• Process daily the Currency Transaction Reporting (CTR) by identifying, researching, and preparing reports of large currency transactions as required by the Bank Secrecy Act.
• Participates as a member of the Suspicious Activity Report (SAR) Committee, providing analysis, input, and recommendations on cases under review and supporting decision-making processes.
• Process of Suspicious Activity Report (SAR) by monitoring and/or investigating alerts of potential suspicious activity produced by the Credit Union's transaction monitoring software and manual reports.
• Assist with independent reviews of file maintenance reports, internal transactions, and other related internal controls, as necessary.
• Maintains and monitors watch list of members and investigates for continued suspicious activity.
• Completes searches required for USA PATRIOT Act Section 314 (a).
• Review and submit files to the credit reporting agencies via eOSCAR.
• Assist in other assigned duties.

Starting pay range between $21.17 - $26.47 per hour

Requirements

Critical Knowledge Skill and Educational Requirements:

• Three to five years' experience involving fraud, risk management and/or compliance in a financial institution.
• Two-year college degree in Business, Finance, or related field. Additional experience may be considered in lieu of education.
• Must have prior knowledge of the Bank Secrecy Act.
• Knowledge of credit union/banking procedures as they relate to money management and money movement.
• Ability to collect, analyze and interpret financial data.
• Strong problem-solving skills; must be detail-oriented and be able to multi-task.
• Knowledge of the fundamentals of banking and financial services delivery.
• Knowledge of cash management, expenditures, and disbursement processes.
• Excellent oral, written, and telephone communication skills
• Ability to function independently in a multi-task environment, as well as part of a team.
• Ability to give and follow oral and written instructions.
• Ability to apply basic statistical techniques.
• Knowledge of Microsoft Office products, including Word, Excel and PowerPoint.
• Must pass all credit and bond requirements.
• Prior credit union experience is preferred.

Physical Requirements:

The physical demands described here are representative of those that must be met by a team member to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Normal office environment where there is little discomfort or exposure to hazards due to temperature, dust, noise, etc.
• While performing the duties of this position, the team member is regularly required to walk; use hands and fingers, reach with hands and arms.
• The team member consistently is required to stand and sit, view computer screen, talk and hear, and at times may lift/move up to 10 pounds.

Salary Description


Starting pay between $21.17 - $26.47 per hour