Mutual Security Credit Union · 1 week ago
BSA & Financial Crimes Analyst
Shelton, CT, US
Full-time
Onsite
Mid Level
3+ years expMutual Security Credit Union is a financial cooperative dedicated to serving its members and fostering community well-being. The BSA & Financial Crimes Analyst is responsible for monitoring and investigating suspicious activities to ensure compliance with the Bank Secrecy Act and other regulations, while also supporting the organization's anti-money laundering and fraud prevention efforts.
BankingFinancial ServicesService Industry
Responsibilities
Embrace the movement to foster change and make a meaningful impact within the Community by exhibiting our corporate values of Integrity, Empowerment, Respect and Commitment to promote professional growth and prosperity within the organization and the neighborhoods that we serve
Enhance and maintain MSCU’s Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) compliance program, including Customer Identification Program (CIP), Customer Due Diligence (CDD), Enhanced Due Diligence (EDD) and OFAC. Remain current with industry and regulatory developments
Review all BSA/AML/Fraud, Watchlist alerts and Digital Banking behavioral pattern alerts, conduct investigations, prepare comprehensive case notes supported with evidence and transaction analysis. Document findings, manage cases and draft and submit all follow up reporting (SARs and CTRs) according to the deadlines and thresholds defined in the program. Escalate and provide recommendations as needed
Lend support for Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) at account opening and for ongoing account changes. Conduct quality assurance review on new accounts and proactively work on outstanding account documentation. Conduct periodic and ongoing review for high-risk members and businesses
Investigate and respond to all reports of suspicious activity, compliance concern, or any alleged violations of policy, rules or procedures. Escalate and provide recommendations as needed
Identify potential areas of compliance vulnerability, risk and fraud; develop recommendations for corrective action plans
Submit monthly SAR Activity Report to the Board of Directors
Monitor compliance with OFAC/FinCEN. Report 314a matches and manage 314b requests and responses
Assist with handling and preparing internal audits and the NCUA/DOB examination including the assembly of audit documents and the tracking of follow up items. Assist as needed for internal audits, including periodic Branch audit
Active and contributing participant on the Fraud Committee and Compliance Committee. Membership and participation with external associations for educational purposes. Pursue on-going education including webinars, seminars and certification classes
Initiate and manage the workflow of policy reviews to ensure compliance and strong internal controls
Gather necessary information and assist with the Annual BSA Risk Assessment
Provide support for member-initiated fraud claims including a lookback quality review of claims handling
Conduct report reviews for risk mitigation including but not limited to Dormant Account review, Large Transaction review and File Maintenance Monitoring
For the purpose of maintaining Credit Union goals, it is the responsibility of each employee to strive for the continuous quality improvement of processes and quality of service to internal and external members
Abide by all federal, state, and local laws including but not limited to: The Bank Secrecy Act, including the Office of Foreign Assets Control (OFAC) and Financial Crimes Enforcement Network (FinCEN); Uniform Commercial Code (UCC); Federal Reserve Bank; Consumer Financial Protection Bureau (CFPB) and the National Credit Union Administration (NCUA)
Qualification
Required
Two-year degree in Business, Finance, Accounting or equivalent
Three (3) year bank operations experience
Two (2) year bank regulatory compliance experience
Extensive knowledge of Bank Secrecy Act, OFAC, USA Patriot Act and related regulations
Must be detail-oriented in interpreting, analyzing, monitoring and reporting information
Must be discreet in dealing with all compliance matters
Ability to make decisions, solve complex problems and apply critical thinking
Ability to effectively complete multiple tasks and projects simultaneously
Excellent oral and written communication skills
Knowledge of Microsoft Office and other software programs as required
Preferred
CAMS certification is desirable
BSA/AML certification; or other compliance certification is a plus
Prior experience working with Verafin is desirable
Benefits
Medical, Dental, Vision Plans
Life and Accidental Death and Dismemberment Insurance (100% employer paid)
Accident and/or Illness Disability Insurance (100% employer paid)
401(k) Plan with Company Contribution
Vacation, Holiday and Personal Time Off Pay
Birthday PTO Day
Mental Health PTO Day
Volunteer Day – One paid day a year to support the causes that matter to you!
Gym Membership Stipend
Employee Referral Program
Education Assistance Program
Employee Wellness Program
Leadership and Employee Development Training Programs
Company
Mutual Security Credit Union
Mutual Security Credit Union is a community credit union that provides banking services.
51-200 employees
Funding
Current Stage
Growth StageCompany data provided by crunchbase