BSA & Risk Specialist I

Job Description

Job Description

The BSA & Risk Specialist I is responsible for the daily servicing of the comprehensive corporate-wide Bank Secrecy Act (BSA) Program that includes internal policies, procedures and controls to comply with the USA Patriot Act, BSA, Currency and Foreign Transactions Reporting Act, Anti-Money Laundering (AML), Office of Foreign Asset Control (OFAC), and FACT Act Red Flags compliance, deposit account and shared branching compliance. Consults with and provides daily assistance to management and staff.

Essential Duties and Responsibilities: Must effectively carry out the essential duties and responsibilities of this position in a manner that consistently demonstrates Sun Federal’s mission and core values in a positive manner. Other duties may be assigned.

1. Bank Secrecy Act Program Servicing Responsibilities
   1. Responsible for required regulatory reporting that is timely, accurate, and compliant including:
      1. Files Currency Transaction Report (CTR) within reporting deadlines. This includes reviewing all alerts, collecting data, compiling, and submitting reports.
      2. Researches suspicious activity, writes narrative and files Suspicious Activity Report (SAR) within deadlines. Prepares monthly SAR tracking reports. Takes appropriate actions and limits access when suspicious or illegal activity is discovered.
      3. Follows FinCEN 314(a) and 314(b) compliance guidelines in screening accounts, sharing information with other financial institutions and law enforcement.
   2. Monitors fraud trends and communicates these trends to members and staff.
   3. Conducts monthly compliance review and prepares exception report for management.

1. Provides input to management on quality control weaknesses, policy enhancements and training needs.
2. Monitors resources such as the America’s Credit Unions, NCUA, FinCEN and CU League websites (OH & PA).
3. Reads all vendor communication related to BSA Program and BSA Vendor Management, given through all access points on updates, changes, release dates, maintenance times, etc. to ensure best practices are in place and shares this information with Director of Risk as required.
4. Monitors systems and makes recommendations to the Director of Risk Management to ensure appropriate parameters are in place to identify suspicious and/or fraudulent activity.

1. Account Monitoring and Case Management
   1. Services alerts, creates cases and conducts research. Gathers evidence and responds to law enforcement. Classifies and monitors the High-Risk Member transaction logs and procedures.
   2. Responsible for OFAC watch list compliance and review of daily alerts, creates, and investigates cases. Tracks, reports, and freezes accounts as necessary for all OFAC matches. Reviews and responds to list of false/positive matches and reason codes. Audits non-members transactions for OFAC compliance.
   3. Tracks and reviews the transaction(s) that caused a negative account (except mortgage escrow) for setting and managing account alerts. Follows procedures for next steps (follow-up with member, Management, Attorney, Law enforcement, state agency or bond carrier).
   4. Adheres to Policy #2232 Member Withdrawal of Services. Follows established procedures to present the account for review and complete the expulsion processes.
2. Deposit Account Compliance
   1. Provides procedure information or disclosures to ensure compliance with applicable federal and state laws and regulations including, but not limited to: Reg CC, Truth-in-Savings, Account Titling, NCUSIF, Excess Share Insurance (ESI) and IRS Reporting.
   2. Responsible for maintaining knowledge of governing consumer and business account regulations, compliance and information security issues and provides management with updates regarding exposure to new or pending developments as they relate to system interfaces or processing.
   3. Answers member questions and initiates difficult and direct conversations. Ensures member information and documentation is received and filed.
   4. Assists staff to resolve errors, correct member accounts, regulation and/or disclosure questions or concerns and consults with management when necessary.
   5. Reviews new and existing specialty accounts that include but are not limited to: Power of Attorney, Trust documents, UTMA, and Rep Payee.
   6. Acts as a resource for account closing guidance and provides assistance with death or divorce situations.
   7. Processes all subpoenas and seeks legal opinion when necessary.
3. Member Account Document Servicing
   1. Audits new member accounts and existing account titling changes. Audits and compares that account documents accurately match the system account record and are appropriately signed and scanned into the electronic account record. Responsible for maintaining knowledge of governing consumer and business account regulations, compliance and information security issues and provides management with updates regarding exposure to new or pending developments as they relate to system interfaces or processing.
   2. Verifies that account related legal documents have been presented and are archived with the account record. (i.e.: Trusts, POA, Death Certificates, etc.)
   3. Follows up with staff to ensure missing documents or information is obtained and completed. Scans documents obtained through follow-up via mail, fax, or in-person into the electronic account record.
   4. Archives other documents that relate to member account requests or maintenance into the account record.
   5. Utilizes KeyInsight within the account record to report to the account opener any error or finding that must be corrected. The workflow is tracked for due date completion or Management follow-up if required.
4. Shared Branching Compliance
   1. Understands Shared Branching policy and procedure updates and can communicate changes.
   2. Assists staff to resolve errors, correct member accounts, regulation and/or disclosure questions or concerns and consults with management if necessary.
   3. Reviews all Shared Branching updates and changes.
   4. Reviews the accuracy of Shared Branching information on the Intranet.
5. Additional Responsibilities
   1. Assists with launch of new program enhancements and performs testing to ensure a smooth rollout to membership. Assists with staff training for enhancements and changes.
   2. Monitors the Risk e-mail box and forwards notifications when appropriate.
   3. Back-up for the Risk Support Risk Specialist and Internal Auditor.

Qualification Requirements: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of knowledge, skill and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. The individual must be able to successfully pass background checks.

Education/Certification: Associates degree in business or Criminal Justice required. CUNA Certified BSA Compliance Specialist designation required.

Experience Required: Three to five years of experience in the banking industry or in Risk Mitigation, Loss Mitigation or in a deposit account compliance role.

Employee Benefits

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Tuition Reimbursement, Promote From Within Philosophy, Professional Development, Work/Life Balance, Paid Vacation and Sick time, Paternity Leave, 11 Paid Holidays, Weekends and Evenings Free, 401(k) with 6% Match, Employer-Paid Pension, Incentive Pay, EAP, Medical, Dental, Vision, Life, Long-Term Disability Insurance, Employer H.S.A. Contribution, Wellness Program and Rewards, Credit Union Membership, Financial Wellness Education

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