Compliance Specialist

Description

This role supports the credit union’s BSA/AML and OFAC programs through alert monitoring, regulatory reporting, and account oversight. Key responsibilities include managing account monitoring system alerts via Verafin platform, conducting OFAC reviews, assisting with the filing of Currency Transaction Reports (CTR) and Suspicious Activity Reports (SAR), and supporting policy and record-retention maintenance. 

The position also involves maintaining dormant, deceased, and special accounts and assisting with subpoena processing. Additionally, tracking notary certifications, updating procedures, conducting branch inspections, and providing daily support to staff and the BSA/Compliance Officer to ensure ongoing compliance and the effectiveness of the program.

Requirements

• Manage Verafin alerts, including Currency Transaction Reports (CTRs), Suspicious Activity Reports (SARs), BSA/AML reviews, Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD), Watch List and OFAC checks, elder abuse cases, employee fraud investigations, and Unusual Activity Reports (UARs).
• Review OFIN email alerts and verify member information in XP2 using Social Security Numbers (SSNs).
• Conduct OFAC and Watch List reviews for ACH and wire transactions.
• Monitoring deceased accounts, which include handling DNE ACH notices, preparing member letters, tracking spreadsheets, and performing monthly follow-ups. 
• Subject matter expert of special account types, such as Powers of Attorney (POA), Trusts, and Estate accounts. 
• Conduct monthly monitoring of high-risk customers and update the list by removing members as necessary.
• Responsible for dormant accounts, including sending quarterly letters, applying account flags, and reporting fees.
• Maintain notary records, update tracking spreadsheets, and notify employees months in advance of expiration.
• Supports vendor due diligence and documentation tracking, including assisting with the collection, organization, and maintenance of vendor compliance records.
• Coordinate annual robbery training for all staff. 
• Respond to incoming calls and assist staff with BSA-related questions.
• Assist with reporting, training, and maintaining BSA and OFAC programs.
• Review and submit electronic filings for CTRs and SARs.
• Help maintain and update policy manuals.
• Assist with processing subpoenas, which includes research, document preparation, and ensuring deadlines are met under the guidance of the BSA/Compliance Officer.
• Prepare assigned BSA/compliance monthly reports.
• Assist with record retention maintenance for the credit union.
• Perform miscellaneous duties as needed.

Job Experience: Mimimum one year experience in Compliance within a credit union or bank preferred. Required experience opening of special accounts, such as trust, rep payee, deceased, business and personal accounts. 

Software Skills: Experience with Verafin, XP2 preferred. Excellent computer skills with knowledge of Microsoft Office software.

Physical Demands: Required to sit for extended periods with occasional working to provide member services. Finger manipulations required for data entry into computer, typing correspondence and operating 10 key calculator.

Work Conditions: Regular workday with occasional overtime. A normal range of hearing is necessary to communicate by telephone and in person with staff and members. Exposed to potentially hazardous conditions (robbery). Noise level moderate to high in immediate area. Ability to travel to branch locations as needed.

Other Skills: Strong organizational and analytical skills required to resolve member/staff questions or problems. Must demonstrate excellent written and oral communication skills. Strong interpersonal skills to represent the Credit Union professionally and positively to members and to interact daily with staff and management. Ability to exercise judgment and maintain confidentiality in dealing with membership and staff. Ability to complete or resume tasks despite interruptions. Ability to work independently and use good judgment.