Bank Secrecy Act (BSA) Officer

Job Description

Job Description

Description:

We are seeking an experienced and motivated BSA Officer to support and oversee PNCU’s Bank Secrecy Act and Anti-Money Laundering compliance program. The ideal candidate will have BSA/AML experience within a credit union or similar financial institution, strong knowledge of applicable regulatory requirements, and excellent analytical, organizational, and communication skills. We are looking for someone who takes pride in their work, exercises sound judgment, and is ready to play an important role in supporting PNCU’s compliance program.

Polish National Credit Union stands strong as a full-service, member-owned credit union, offering a complete line of personal and business banking products and services. Since our inception in 1921, Polish National has grown to meet the needs of our communities. We proudly support the community through non-profit and educational initiatives. An important aspect of all positions at the credit union is to fulfill our mission: “To Grow Lasting Relationships to Improve People’s Lives.” 

We are committed to providing fair and equitable compensation opportunities for all team members. We take pride in offering growth and professional development opportunities that support our employees’ continued success. Our compensation practices allow team members to progress through the salary range over time as they grow in their roles. The actual base pay offered will be determined based on factors including, but not limited to, a candidate’s skill, relevant experience, and work location.

Benefits:

Polish National Credit Union offers an attractive compensation and benefits package, including health, dental, vision, flexible spending accounts, generous 401(k) with employer match, Student Loan Repayment Program, and tuition assistance.

Equal Opportunity Employer

Our Credit Union is an equal opportunity employer. All applicants will be considered regardless of race, color, creed, religion, sex, sexual orientation, national origin, age, marital or veteran status, medical condition, disability, genetic information, or any other legally protected status. Equal access to the hiring process, services, and employment is available to all persons.

Requirements:

The Bank Secrecy Act (BSA) Officer is responsible for the day-to-day administration, oversight, and ongoing effectiveness of PNCU’s Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Compliance Program. The position ensures the Credit Union maintains an effective program designed to comply with applicable BSA/AML requirements, including requirements related to the Customer Identification Program (CIP), member due diligence, Currency Transaction Reports (CTRs), Suspicious Activity Reports (SARs), and the Office of Foreign Assets Control (OFAC).

The BSA Officer works closely with senior management, department leaders, employees, auditors, and examiners to identify and manage BSA/AML risk throughout the Credit Union. The position has the authority, independence, and access to resources necessary to effectively administer the BSA/AML Compliance Program and regularly communicates the status of the program to senior management. 

• Administer and oversee the Credit Union’s BSA/AML Compliance Program and coordinate day-to-day compliance with applicable BSA/AML requirements. 
• Maintain, review, and recommend updates to BSA/AML, CIP, OFAC, member due diligence, and related policies and procedures to ensure they remain appropriate for the Credit Union’s operations and risk profile.
• Review the BSA/AML policy at least annually and coordinate updates and Board approval as appropriate. 
• Oversee the monitoring of member accounts and transactions for unusual or suspicious activity, including activity that may indicate money laundering, structuring, fraud, terrorist financing, or other illicit financial activity.
• Investigate and evaluate unusual or suspicious activity and determine whether the activity warrants the filing of a SAR. Ensure decisions and supporting documentation are maintained appropriately
• Ensure SARs are completed and filed when required and provide applicable reporting while maintaining required confidentiality. 
• Oversee CTR compliance, including the identification, monitoring, and periodic review of members or entities eligible for CTR exemption. 
• Oversee compliance with CIP due diligence requirements and ensure appropriate ongoing monitoring based upon member risk. 
• Maintain and periodically update the Credit Union’s BSA/AML risk assessment to appropriately identify and evaluate risks associated with members, products, services, transactions, delivery channels, and geographic areas.
• Oversee OFAC compliance activities and ensure appropriate screening, escalation, investigation, and documentation of potential matches in accordance with Credit Union policy and applicable requirements.
• Monitor changes in BSA/AML, OFAC, FinCEN, NCUA, and other applicable regulatory requirements and guidance and recommend appropriate changes to policies, procedures, systems, monitoring, and training.
• Develop, coordinate, and/or provide BSA/AML and OFAC training for employees and the Board of Directors as appropriate to their responsibilities.
• Serve as a primary point of contact for BSA/AML examinations, audits, and independent testing; coordinate requested documentation and responses and monitor corrective actions resulting from findings or recommendations.
• Work with management and appropriate departments to identify BSA/AML compliance issues, evaluate risk, develop appropriate corrective actions, and monitor those actions through resolution.
• Regularly report the overall status and effectiveness of the BSA/AML Compliance Program, significant issues, emerging risks, and other pertinent BSA-related information to senior management 
• Maintain appropriate records and documentation supporting the Credit Union’s BSA/AML compliance activities.
• Collaborate with Retail, Operations, Lending, Accounting, Compliance, Information Technology, Security, and other areas of the Credit Union to promote consistent implementation of BSA/AML requirements.
• Provide guidance and support to employees regarding potentially suspicious activity, BSA/AML requirements, member due diligence, and escalation procedures.
• Maintain a high level of confidentiality regarding SARs, investigations, member information, and other sensitive compliance matters.
• Responsible for compliance with all applicable federal and state regulations, as well as Credit Union policies and procedures.
• Complete all required compliance training and ongoing training assigned throughout the year.

Knowledge, Skills and Abilities

•Thorough knowledge of the Bank Secrecy Act, Anti-Money Laundering requirements, USA PATRIOT Act, CIP, SARs, CTRs, and OFAC requirements.

•Strong understanding of BSA/AML risks within a credit union or other financial institution.

•Ability to evaluate complex transactions and account activity and exercise sound, independent judgment regarding potentially suspicious activity.

•Strong analytical, investigative, research, and problem-solving skills.

•Ability to interpret regulations and regulatory guidance and translate requirements into effective policies and operational practices.

•Strong written and verbal communication skills.

•Ability to communicate compliance concerns professionally and effectively to employees, management, senior leadership, auditors, and examiners.

•Strong attention to detail and organizational skills.

•Ability to manage multiple priorities and regulatory deadlines.

•Demonstrated discretion and ability to maintain a high level of confidentiality.

•Proficiency with applicable banking systems, BSA/AML monitoring systems specifically Verafin and Microsoft Office applications.

Education

Associate degree in Business Administration, Finance, Accounting, Compliance, or a related field preferred.

Equivalent combination of education, BSA/AML training, and relevant financial institution compliance experience will be considered.

Experience

Five or more years of progressively responsible experience in BSA/AML, regulatory compliance, fraud, financial investigations, credit union operations, or a related financial institution environment preferred.

Prior experience administering or supporting a financial institution’s BSA/AML Compliance Program strongly preferred.

Experience with BSA/AML transaction monitoring, investigations, SARs, CTRs, CIP, member/customer due diligence, OFAC, regulatory examinations, and audits preferred.

Certifications

Professional BSA/AML certification, such as NAFCU Certified Bank Secrecy Officer (NCBSO), Certified Anti-Money Laundering Specialist (CAMS), or other relevant compliance certification preferred.

Interpersonal Skills

A significant level of trust, diplomacy, confidentiality, and sound judgment is required. The position regularly works with sensitive member information and confidential regulatory matters and must be able to communicate compliance concerns objectively and professionally at all levels of the organization.

The BSA Officer must be comfortable exercising independent judgment and escalating significant compliance concerns when appropriate.

Physical Requirements:

•Ability to sit, stand, and use standard office equipment for extended periods.

•Ability to lift up to 20 lbs.