BSA Compliance Analyst 1

Description

Summary

Assists the BSA Compliance Team in the daily monitoring and maintenance of the Credit Union’s BSA compliance program by completing clearly defined tasks under guidance to support compliance with applicable laws and regulations. Learns and applies established policies, procedures, and BSA best practices and keeps abreast of regulatory developments through structured training and direction from others. Conducts basic research and supports responses to BSA- related issues affecting individual members and the organization, seeking input as needed. Contributes to other risk management initiatives as assigned, while developing an understanding of how the role supports the Credit Union’s overall risk management and member service objectives.

Essential Functions

• Assist the BSA Compliance Team with the daily administration of the Credit Union’s Bank Secrecy Act/Anti-Money Laundering software program by performing assigned, clearly defined tasks under supervision. Monitor data and escalate issues as needed, including interfacing with vendor and internal Technology department with guidance.
• Research findings and alerts from system, as well as reports from employees, to support determination of whether to file required BSA reports. File CTRs as required within prescribed time frames. Assist in evaluating whether a SAR filing is warranted by gathering information, marshaling evidence, and preparing documentation, consulting with management as appropriate. Support the Credit Union’s eFiling of required reports with the government, including troubleshooting with direction.
• Monitor government watch lists and perform list-management reviews for OFAC and 314(a) records when lists are updated, following established procedures. Monitor and respond to OFAC screenings across multiple channels and escalate potential matches as required. Assist with contact to FinCEN as appropriate and ensure OFAC-related records are complete and accurately maintained.
• Assist with educating new and existing employees on Bank Secrecy Act requirements and recent developments in money laundering trends, including supporting new hire BSA training, collaborating on content for annual BSA training, and following up with frontline staff based on CIP audit results, under guidance.
• Assist in assessing BSA risk by gathering and organizing data from multiple sources throughout the Credit Union and its systems, following defined instructions and timelines.
• In the absence of the BSA Compliance Supervisor, support the Credit Union’s regulatory compliance efforts with external auditors, examiners and others as directed, providing requested documentation and basic explanations of policies and procedures with management support.
• Process summons and subpoena record requests by following established procedures to ensure correct documentation is delivered, invoices are billed, and payments are received. Interface with requesting parties, including law enforcement and legal counsel, in routine situations with guidance.
• Assist management with the development of compliance controls and participate in testing activities for effectiveness by completing assigned tasks and documenting results.
• Contribute to the Credit Union’s knowledge bases, intranets and other knowledge repositories by updating or organizing content as assigned.
• Provide effective communications and support to employees in alignment with the Credit Union’s core values, seeking guidance when needed.
• Follow all applicable policies, procedures and laws, demonstrating attention to detail and reliability while learning to work more independently.

Requirements

Qualifications

Experience

• Minimum one year of experience analyzing member accounts and account histories in a financial institution, or equivalent exposure gained through relevant work experience. 

Education

• Bachelor’s degree in business administration or related field required. Equivalent combination of relevant education, training and experience may be substituted for education.
• In the absence of existing certification, will obtain NAFCU/CAMS certification at the Credit Union’s expense.

Knowledge

• Demonstrates basic knowledge and understanding of deposit accounts and learns to analyze transactions and recognize suspicious activity within those transactions under guidance.
• Possesses a basic knowledge of Bank Secrecy Act rules and regulations, as well as familiarity with other consumer protection regulations (Truth in Lending, Truth in Savings, Privacy, etc.) and learns to apply regulatory requirements accurately by following established procedures.
• Familiarity with credit union/banking regulations desired.
• Developing knowledge of Credit Union products and services, features, and benefits, and how they relate to member service and compliance responsibilities.
• Capable of learning and becoming proficient in required software programs, including MS Office, Corelation’s Keystone, Verafin, and others, through training and hands-on use.

Skills/Abilities

• Possesses effective interpersonal skills and functions well within a team environment, demonstrating professionalism and respect in interactions.
• Takes initiative in responding courteously and efficiently to internal and external members through various delivery channels, following established guidelines.
• Capable of accomplishing objectives through teamwork and active participation in team activities.
• Demonstrates developing relationship management skills and can handle routine or moderately difficult situations in a positive and professional manner, seeking guidance when needed.
• Demonstrated verbal and written communication skills.
• Able to communicate legal/regulatory topics clearly and succinctly by relying on established materials, procedures, and guidance.
• Possesses strong reading comprehension skills and applies them to policies, procedures, and regulatory guidance.
• Able to convey information from research into reports and summaries and provide input for improvement, with oversight.
• Comfortable presenting information, including stand-up and computer-based training, to small groups with preparation and support.
• Able to conduct research through defined channels (Internet, reference materials, internal resources) and gather information accurately, asking questions as needed.
• Understands the importance of confidentiality and discretion and consistently demonstrates this understanding in the workplace.
• Demonstrates developing business judgment and analytical skills and can identify issues and assist with troubleshooting in a timely manner, escalating as appropriate.
• Exhibits strong organizational and time management skills and can recognize deadlines and set priorities with guidance.
• Comfortable with technology and learning to use systems effectively, including downloading information files and assisting with troubleshooting when the information does not process as expected.
• Begins to apply structured thinking to work and learns to plan tasks in alignment with assigned priorities and timelines.

Physical Requirements/Work Environment

• Primarily a sedentary office environment, requiring extended periods of sitting and working at a computer workstation.
• Frequent use of standard office equipment, including computers, monitors, keyboards, telephones, and printers.
• Ability to read and review electronic and paper documents, reports, and system data with attention to detail.
• Occasional lifting or carrying of files or records, generally up to 10–15 pounds.
• Work is performed in a professional office setting with regular business hours; may include occasional extended hours to meet regulatory deadlines or examination requests.
• Regular interaction with internal staff, management, vendors, auditors, examiners, and external agencies via phone, email, and in person.
• Requires the ability to maintain focus and accuracy while performing routine, detailed, and time-sensitive compliance tasks.