BSA & Risk Analyst

SUMMARY

As a direct report to the BSA/AML Manager, the BSA & Risk Analyst performs Bank Secrecy Act recordkeeping and reporting, OFAC compliance, and suspicious activity and fraud monitoring, detection, investigation, analysis and reporting. Additionally, the BSA & Risk Analyst reviews and approves legal documents such as subpoenas and powers of attorney. The BSA & Risk Analyst serves as a guidance resource for all branch, operations, and member service center personnel on matters related to regulatory compliance, unusual and potentially suspicious transactions, potential fraud, BSA/OFAC compliance, and Risk Management matters.

 

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:

• Conduct BSA transaction monitoring, investigate potentially suspicious activity, make risk-based SAR recommendations, and prepare detailed SAR narratives for reporting.

• Monitor and track BSA-AML high-risk members and accounts. Decision alerts to warrant further review, case establishment, and escalation.

• File all required regulatory reports and documents with the appropriate federal agency and respond quickly to all lawful requests for information regarding suspicious activity, including the filing of Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) to the Financial Crimes Enforcement Network (FinCEN).

• Collaborate with credit union employees, members, other financial institutions, and law enforcement agencies to investigate fraud cases, identify suspects, safeguard credit union assets, and mitigate losses where possible.

• Collect and analyze data, including transaction reports, surveillance systems, loss reports, law enforcement inquiries, loss claims by members and third parties, notifications from front-line staff, etc., to identify and investigate potential fraudulent activity. 

• Understand and maintain a thorough knowledge of government regulations with particular emphasis on the Bank Secrecy Act and related regulations, policies, procedures, industry best practices, criminal activities, and developing trends; including BSA, USA Patriot Act, OFAC and Fraud.

• Review and approve legal documents such as powers of attorney, subpoenas, search warrants, and other legal requests.

• Test and monitor the Credit Union’s Identity Theft Prevention (“Red Flags”) program, including tracking of identity theft incidents, collecting data to support periodic identity theft risk assessments, tracking identity theft incidents during the previous year, and developing recommendations for changes to the program if necessary.

• Assist in data collection and preparation for audits and exams, and assist regulators and auditors with inquiries and examinations related to BSA, regulatory compliance, SAFE Act, identity theft program, etc.

• Provide day-to-day BSA/AML/OFAC, fraud, regulatory compliance, and risk management assistance, training, support, and information to all departments/functional units within the Credit Union. 

• Performs other duties as assigned by senior management to ensure an effective, compliant, and mature BSA/AML/OFAC and CIP compliance program.

 

SUPERVISORY RESPONSIBILITIES

None.

 

PERFORMANCE STANDARDS

Display excellent written and verbal communication skills when interacting with senior management, the Board of Directors, the Supervisory Committee, all personnel, members, auditors, and examiners.  Maintain professional composure, objectivity, and fairness when dealing with conflicts and sensitive matters.  Display attention to detail, ability to multi-task, and meet established deadlines.  Exhibit sound judgment, critical thinking, and problem-solving skills.  Maintain collaborative relationships with all departments.  Demonstrate professional care and the highest standards of professional competency.  Support a strong sense of teamwork and commitment to mentoring and serving others. 

 

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 the knowledge, skill and/or ability required.  Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

 

EDUCATION AND/OR EXPERIENCE

Bachelor’s degree or equivalent experience.

Minimum of three (3) years related financial institution or financial services industry experience.

Proficient knowledge of Credit Union administration, lending, operations, products and services, and the ability to understand and assess risks related to these areas.

Basic knowledge of the USA Patriot Act, BSA/AML/OFAC laws and regulations and understanding of NCUA regulations.

 

CERTIFICATES, LICENSES, REGISTRATIONS

Must possess or obtain within 2 years, an applicable professional compliance certification or designation from an established financial service industry trade group, such as ACU Certified Bank Secrecy Act Professional (CBSAP), ABA Certified Regulatory Compliance Manager (CRCM), Certified Anti-Money Laundering Specialist (ACAMS), Certified Fraud Examiner (CFE) etc.

 

OTHER SKILLS and ABILITIES:

Ability to deal with complex problems and provide sound business judgment in making decisions and recommendations within the framework of Credit Union policies and procedures, regulatory requirements, and potential risks to the credit union or its members, employees, officials, or assets. 

Exceptional verbal, written, and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence, and procedures.  

Strong investigative skills and the ability to assess member transactions and situations fairly and objectively, but with sufficient scepticism. Ability to read, analyse and interpret regulatory documents, general business periodicals, professional journals, and technical procedures.

Ability to communicate effectively regarding sensitive information with external agencies and regulatory authorities, attorneys, and law enforcement agencies.

Intermediate math skills; ability to calculate interest, proportions, and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions, and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.

Proficiency in Microsoft Office (Work, Excel, Power Point and Outlook) is required. Annually complete and achieve passing scores on various SAFE FCU Policy, Procedure, Development and Enhancement Curricula.

 

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  

While performing the duties of this job, the employee is regularly required to talk or hear.  The employee frequently is required to use hands to finger, handle, or feel objects, tools, or controls.  The employee is occasionally required to stand, walk, reach with hands and arms, climb or balance and stoop, kneel, crouch or crawl. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception and the ability to adjust focus.  Occasionally lift/and or move up to 35 pounds.  

 

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.  The noise level in the work environment is usually low to moderate.

 

MENTAL DEMANDS

The mental characteristics necessary to competently perform this job include the need to occasionally use basic and complex numeric calculations, persuasiveness, and creativity; to frequently use resourcefulness and problem solving and to continuously use analyzing skills.

 

EEO STATEMENT

SAFE FCU is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, veteran status, disability, sexual orientation, gender identity, or any other protected status.