Compliance Specialist

About the role

This position is responsible for the day-to-day functions with respect to the credit union’s compliance programs, such as Bank Secrecy Act (BSA), vendor due diligence, and compliance of forms and disclosures.

Responsibilities

• BSA Compliance – daily/monthly functions of processing and reviewing reports, and researching identified accounts for suspicious activity.
• Assists in the periodic review and update of the BSA program.
• Reviews reports daily to ensure CTRs and SARs are filed timely.
• Reviews Verafin reports and follows up on suspicious activity.
• Reviews shared branching transaction data for BSA compliance.
• Makes sure the Office of Foreign Assets Control (OFAC) Exemption list is monitored and reviewed.
• Monitors and reviews FinCEN 314(a) Information Sharing Between Law Enforcement and Financial Institutions.
• Monitors the SAR reporting tool for staff reporting of any suspicious activity including elder abuse, fraud, etc.
• Aids in the review and update of disclosures/forms for new regulations and consistency with credit union practice and system set-up.
• Aids in the review of subpoenas and IRS levies.
• Aids in researching regulations for compliance of credit union operations.
• Aids in carrying out credit union compliance programs such as Vendor Due Diligence and Red Flags.
• Aids in credit/debit card program as required.
• Aids in ACH, Sharedraft and other electronic services as required.
• Performs other duties as required.

Qualifications

• Education/Certification: Bachelor’s Degree or equivalent work experience in the retail financial services field, preferred
• Required Knowledge: Knowledge of financial institution regulations
• Experience Required: Experience in applying policies and procedures
• Skills/Abilities: Excellent written and verbal communications skills, Able to read and comprehend regulations, Able to multi-task and prioritize work, Presentation experience