BSA Compliance Officer/Quality Control Officer

Description

Job Function

BSA Compliance

Under general supervision and in compliance with established policies, procedures state and federal laws and regulations the BSA Compliance Officer under the direct supervision of the President/CEO is responsible for a broad variety of duties as assigned to include but not limited to maintaining and assisting with the execution of the BSA and OFAC Compliance Programs of the credit union. They will train and work closely with BSA Assistant(s), including formulating procedures for carrying out the activities of the function. The BSA Compliance Officer will be required to safeguard member information and the Credit Union’s vital records in a manner commensurate with sensitivity of the information and in compliance with laws, regulations and the Credit Union’s information security policies, standards and procedures. The BSA Officer will embrace and promote the Credit Union of Atlanta’s culture in making sure that our members receive the “Total Member Experience” at all times. The BSA Compliance Officer will carry out carrying out the board’s direction, including the implementation of the credit union’s BSA/AML policies, procedures, and processes to include but not limited to processing CTR’s, SAR’s, FINCEN, FRAML, Red Flag and OFAC alerts, FAC, 314a and Verafin reporting and ensuring staff remain in compliance. Observes internal controls, confidentiality and security of all Credit Union, member and employee information, and adheres to the highest level of business ethics and discretion.

Duties and Responsibilities

· Responsible for maintaining the day-to-day BSA/AML compliance to include processing CTR’s, SAR’s FINCEN, OFAC Hits and FRAML, RED Flag and High-Risk alerts, Verafin and OFAC reporting: International Transactions (IAT) alerts, MIL (Monetary Instrument Log) High Risk Accounts, FinCen 314a, Wire activity log, staff BSA required training, BSA Board of Directors Report. 

· Responsible for providing input on Branch operations and BSA compliance procedures and policies. 

· Identify, track, and investigate suspicious activity through the review of systems reports and BSA/AML monitoring software alerts. Create cases in the monitoring software under the direction of the BSA Compliance Officer and Retail Branch Administrator.

· Assist in preparation for all internal and external examinations of BSA/AML, USA PATRIOT Act, OFAC, Red Flag and related issues. Assist in preparation of reports and correspondence as needed to the regulatory agencies and the Board of Directors.

· Participate in response to exam and audit concerns, findings and assist with the corrective action of all related compliance deficiencies or violations.

· Attends meetings, conferences, courses and workshops that will increase professional knowledge and be otherwise beneficial to the Credit Union. This includes but not limited to BSA/AML Compliance Training and understanding employee’s role in maintaining an effective BSA/AML compliance program, and completing Elder Abuse, FACT Act, Information Security and Reg Flag Training.

• Assist other team members in the research of customer accounts      (account reviews, CIP, Foreign transactions and Wire Review, etc.) when      questions arise (based on red flags).
• Assists with BSA/AML/ Fraud/ OFAC/ alerts to case workflow.
• Reviews accounts for potential illicit activity based on scope      of normal account activity in order to triage alerts before moving the      case to a specific queue in the AI system.
• Conduct phone interviews and obtain information related to      account activity as needed from both team members and credit union members      alike.
• Recommends a course of action to BSA Compliance Officer and      Retail Branch Administrator, based on findings from the BSA/ AML/ Fraud/      OFAC hits and FRAML alert triage process.
• Present potential SAR cases to BSA Compliance Officer and      Retail Branch Administrator; recommend File/Do Not File decisions based on      analysis performed.
• Prepare SAR documents and compose written narratives      documenting account activity. End to End investigations from alert to SARS      filing.
• Accurate and efficient processing of Currency Transaction      Reports (CTRS).
• Accurate review of Anti-Money Laundering/ Fraud/ OFAC alerts      with appropriate written decisioning.
• Conduct risk-based analysis/review of member files with      certain BSA/AML risk attributes, such as presence of politically exposed      persons, exposure to sensitive or sanctioned jurisdictions, usage of      higher risk products, etc.
• Assist in conducting training classes (BSA/AML/ OFAC) to help      educate team members of BSA regulatory requirements.
• Assists the BSA Compliance Officer and Retail Branch      Administrator in ongoing data validation efforts.
• Assists in the BSA Annual Risk Assessment.
• Perform other BSA /AML/ OFAC duties, working closely with the      BSA Officer and Retail Branch Administrator, as assigned.
• Stays informed of developments in the fraud/BSA field      affecting Credit Union operations. Completes projects as assigned.

· Contributes to all functional areas with respect to suspicious activity investigations and provides input on the final decisions on Suspicious Activity Report (SAR) decisions. Contributes to the process for daily monitoring of BSA software alerts, potential OFAC matches, and fraud alerts. Makes the final determination on whether possible OFAC matches are a true match

· Maintains a working knowledge of all credit union products and services, organizational policies and procedures, and state and federal regulations related to credit union operations. 

· Responsible for maintaining knowledge and understanding current trends, laws, issues and best practices affecting area of expertise. 

· BSA/AML Compliance Training and understanding employee’s role in maintaining an effective BSA/AML compliance program, and completing Elder Abuse, FACT Act and Reg 

· Responsible for providing input on Branch operations and BSA compliance procedures and policies. 

· Responsible for ensuring all required regulatory reporting is conducted in a timely, accurate, and compliant manner, including the filing of Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) to FinCEN, as well as FinCEN 314(a) and 314(b) , Verafin and OFAC procedures and reporting. 

· Act as liaison/contact for Federal and State examinations and internal and external independent reviews or audits pertaining to retail branch operations to include the BSA/AML/OFAC compliance programs. 

· Participate in response to exam and audit concerns and assist with the corrective action of all related compliance deficiencies or violations.

· Observes internal controls, confidentiality and security of all Credit Union, member and employee information, and adheres to the highest level of business ethics and discretion.

· Supports a team-oriented environment in the workplace and represents the Credit Union, Board of Directors and Management team in the best possible light at all times.

· Participates in job-related training and employee and departmental meetings, as required.

· Assist the Credit Union of Atlanta in achieving its vision and mission to become the preferred financial provider for all members. This is achieved by providing and ensuring outstanding service to both internal and external members that meets the service promises and standards of the Credit Union of Atlanta

.

· Totally embrace, support and project the credits union’s, Vision, Mission and Culture to include the Thrilling 30 and encourages staff to do the same. 

· Assist in any area as directed by the President/CEO or Vice President Retail Operations to include credit union compliance issues and writing procedures and policies. 

Applies working knowledge of technical and professional principles and concepts and in depth knowledge of team objectives. 

Job Function

Quality Control

Performs review of various department functions to ensure compliance with credit union policy, department procedures and regulations as applicable. Responsible for the quality control and system review for all teller operations,  new accounts and membership account changes, new services added, to include (ODP, Monetary instruments, wires, address changes, name change, change or adding beneficiary), to ensure they are processed and documented according to credit union policy, department procedures and regulations as applicable. Has direct impact on the business by ensuring the quality of the tasks or services provided. Be familiar with Credit Union products, services, processes, policies and procedures. 

Requirements

Education and Qualifications

Experienced risk/control/compliance professional with at least 5+ years compliance experience with Bank Secrecy Act regulations in the banking industry. • Must have current working knowledge of the banking industry’s servicing regulations and guidelines. • Sound knowledge and understanding of BSA/AML, Office of Foreign Assets Control (OFAC) and USA PATRIOT Act regulations. • problem solve. Capacity to manage resources, time and organizational skills to meet deadlines, prioritize tasks, follow through on projects, and document results.

Associate degree in a business-related field is preferred from an accredited university.

High school diploma is required. Only applicants with recent financial institution experience will be considered; Credit Union experience is a plus. Will consider equivalent combination of education, skills, qualifications and experience. All applicants must have a clean criminal background and credit check.

Required Skills 

· Excellent people/interpersonal, verbal and written communication skills, mature judgment, professionalism, team building and problem/conflict resolution skills, and adherence to confidentiality are critical.

· Excellent attention to detail; organizational, prioritization and time management skills.

· Knowledge and understanding of regulatory compliance. 

· Proficiency in Microsoft applications (Word, Excel, Outlook), web browsing, CRT, 10-key calculator, and general office equipment. Use of computer equipment requires repetitive keystrokes and manual dexterity.

· Must be able to sit or stand for extended time periods, lift up to 25 pounds, bend and stretch.

· Excellent time management skills: ability to achieve deadlines while accurately and efficiently managing multiple priorities/tasks simultaneously in a fast-paced environment

· Must be able to see, hear and use a telephone and read, write, speak and type English fluently. (Bilingual skills are helpful but not required.)

· Represent the credit union to members in a courteous and professional manner—with a “can-do” attitude, and provide prompt, efficient and accurate service. 

· Able to make decisions in complex environments and situations.

· Must be able to work under pressure of time deadlines.

· Ability to always present a professional appearance and demeanor and hold others to this standard.

· Basic knowledge of the organization’s various operating systems and/or willingness to learn.

·  Excellent decision making, analytical and investigative abilities with attention to detail and accuracy. 

· Ability to work independently with a high level of initiative.