Bank Secrecy Act (BSA) Analyst ID-19870
Chevron Federal Credit Union is one of the top-run credit unions in the country - and one of the largest, with $4.8 billion in assets. Yet our corporate culture is not stuffy: the Team Spirit Committee runs fun activities and charitable events throughout the year, and work-life balance, mutual respect, diversity, and providing a voice for every employee are all important to us. As you might imagine, we provide competitive pay and great benefits, including:
- Bonus/incentives for all regular employees
- 401(k) with 8% company contribution
- Medical, dental, and vision insurance for employees and dependents paid at 80%
- PTO and paid sabbaticals
- Tuition reimbursement
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GENERAL SUMMARY:The Bank Secrecy Act (BSA) Analyst performs investigations, provides expert analysis, maintains tracking, and completes reporting as necessary to comply with BSA, Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) regulations. This includes conducting comprehensive research and transaction analysis utilizing a wide range of reports, applications, and information sources. The BSA Analyst also assists Credit Union staff with BSA/AML and OFAC procedures and coordinates activities related to these compliance programs under the supervision of the BSA/OFAC Officer.
Position Duties & Functions
- Independently conducts comprehensive investigation and analysis of high-risk, alerted, or unusual transaction and member activity.
- Utilizes all available and relevant sources of information for each investigation, including collaboration with Fraud Prevention Analysts and other employees as needed.
- Ensures that suspicious activity is appropriately identified, fully supported and documented, and reported to the BSA/OFAC Officer and government/law enforcement agencies within regulatory timeframes.
- Reviews Unusual Activity Referrals submitted to the BSA Team and ensures they contain all necessary information to investigate the referred activity.
- Completes Suspicious Activity Reports as needed; submits Suspicious Activity Reports to the BSA/OFAC Officer allowing sufficient time for approval and filing.
- Ensures that decisions not to file Suspicious Activity Reports are well supported and documented.
- Ensures full and accurate completion of all Currency Transaction Reports (CTRs) and submits reports for approval and filing.
- Assists the BSA/OFAC Officer in complying with all sanctions-related risk management and regulatory requirements.
- Assists Credit Union employees and departments with all activities related to OFAC processes and BSA/AML compliance.
- Reviews and responds to requests from law enforcement, such as 314(a) request lists and legal requests for information.
- Provides education and guidance to all employees concerning BSA and OFAC requirements and CFCU's procedures relating to BSA and OFAC.
- Supports the BSA/OFAC Officer as needed to ensure that appropriate employees receive required BSA training and that the content of the training is appropriate and up to date. Provides BSA training as required.
- Collaborates with Branch staff to maintain Negotiable Instrument Logs/Monetary Instrument Logs, in line with regulatory expectations.
- Creates and maintains documentation of BSA Team procedures and functions.
- Performs research, tracking, and reporting as necessary to meet other financial crimes risk management needs and comply with regulatory requirements (e.g., elder financial abuse, identity theft, wire issues, etc.).
Other duties as assigned
POSITION REQUIREMENTS
EXPERIENCE and EDUCATION
- 4-year college degree or equivalent experience required.
- Must have at least two years of investigative experience with emphasis on the Bank Secrecy Act, Anti-Money Laundering, and/or OFAC compliance.
- Thorough working knowledge of Bank Secrecy Act regulations, money laundering and financial crimes typologies, sanctions compliance, and financial investigations required.
- Must have a strong knowledge of consumer banking products and services and their risks and potential uses to facilitate funds associated with illicit activity.
- Experience in analyzing and creating databases.
- Equivalent combination of education and experience may substitute for stated qualifications.
KNOWLEDGE and SKILLS
- Ability to read and interpret membership documents, financial transaction and account records, transaction monitoring alerts, open-source information, industry research and regulatory analysis, and statutory language pertaining to BSA/AML and OFAC compliance.
- Ability to write clear and accurate reports, narratives, and correspondence for both internal and external audiences using correct and professional spelling and grammar.
- Ability to write and speak effectively in English using correct spelling and grammar.
- Basic math skills including the ability to compute rates, ratios, and percentages using a 10-key.
- Proficient in the use of basic applications in a Windows-based environment, including Outlook, Word, and Excel. Moderate keyboard skills at 40 wpm.
- Excellent customer service skills.
COMPETENCIES:
- Impeccably high integrity and must maintain complete confidentiality of member, employee, and Credit Union information.
- Willingness to take responsibility for his/her actions and respond promptly.
- Ability to learn quickly and adapt to change; ability to quickly learn specialized applications and systems.
- Initiative and self-direction.
- Ability to effectively communicate and collaborate with people at all levels.
- Sound problem-solving and decision-making ability, including the ability to prioritize.
- Ability to efficiently produce a significant volume of high-quality work.
- Must be able to travel to branches for audits, as required.
- The ability to understand and align with our core competencies through daily projects and tasks:
Growth Mindset
Diversity & Inclusion
Communication
Change Ready Leadership
Responsibility
Problem Solving
Tech & Data Savvy
CU Business Acumen
PHYSICAL DEMANDS:Â Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Work involves extensive use of computers, up to eight hours per day. Appropriate visual, dexterity and other physical abilities are required.
- May include occasional pushing, pulling, or carrying objects weighing up to 20 pounds.
- Must be able to speak and present on the telephone and/or through digital means of communication, including but not limited to Zoom/Teams/or other video technologies.
We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or expression, pregnancy, age, national origin, disability status, genetic information, protected veteran status, or any other characteristic protected by law. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
