SchoolsFirst Federal Credit Union · 10 hours ago
BSA Specialist - Temporary
Riverside, CA
Full-time
Hybrid
Entry Level
$29.35/hr - $44.02/hr
1+ years expSchoolsFirst Federal Credit Union is always looking for diverse, talented, service-oriented people to join their exceptional team. The BSA Specialist is responsible for reviewing and researching member transactions to identify and report suspicious activity to ensure compliance with the Bank Secrecy Act and related regulations.
Finance
Responsibilities
Responsible for reviewing and researching Member transactions to identify and report suspicious activity to ensure the Credit Union's compliance with the aspects of the Bank Secrecy Act, USA Patriot Act and Office of Foreign Assets Control (OFAC)
Performs daily review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large day to day account activity and determine if transactions are suspicious in nature
Participates in efforts to collect and analyze metrics utilizing existing internal reporting tools to continually improve processes and reports owned by the business unit
Review and file timely Currency Transaction Reports based on aggregated cash transactions including ATM and multiple branch deposits and/or withdrawals
Utilize BSA/AML automated system and various reports to identify suspicious activity and perform moderately complex investigations to identify Bank Secrecy Act issues such as money laundering, terrorist financing, internal / external fraud schemes, structuring, and illegal money service business activity
Demonstrate proficiency in investigative practices associated with an experienced investigator (conduct interviews, collect data, compile documentation and evidence, maintain accurate notes, develop initial and ongoing reports of investigations, prepare comprehensive, accurate and timely Suspicious Activity Reports)
Review and investigate OFAC alerts for a determination of actual OFAC match or false match, and respond to OFAC related questions from branches and various departments
Conduct enhanced due diligence searches on high-risk accounts and entities
Maintain the credit union’s centralized list of customers exempt from large currency transaction reporting requirements
Research current laws and regulations through government and other journals, publications and manuals. Read, research, interpret and generally stay abreast of the requirements of the Bank Secrecy Act
Assist in preparing documentation for and coordination of audits and examinations by regulatory agencies
Assist team members with specific BSA and OFAC related questions
Performs other duties as assigned
Complies with regulatory compliance and assigned training requirements including but not limited to BSA regulations corresponding to their specific job duties. Failure to do so may result in disciplinary and other employment related actions
Qualification
Required
High School Diploma or GED
1-3 years of related experience with BSA programs within the financial services industry and conducting investigations
Entry level knowledge in BSA, AML, CIP and OFAC laws and regulations, and related best practices
Knowledge of concepts, practices and compliance techniques for the financial services industry
Ability to understand complex legal and regulatory issues and laws
Understanding of methodologies for researching and analyzing compliance issues
Understanding of reporting requirements of various regulatory agencies
Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations
Preferred
Bachelor's Degree in Finance, Accounting, International Studies, Criminal Justice, or related field or equivalent years of experience
CAMS – Certified Anti Money Laundering Specialist
Familiarity with anti-money laundering applications
Familiarity with Symitar system and reports
Company
SchoolsFirst Federal Credit Union
Since our founding in 1934, we have been singularly focused on one thing: providing world-class personal service and financial security to our Members.
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
Terry Agius
CEO
Dana Schuller
Chief Administrative Officer
Recent News
Cal State Long Beach
2023-12-22
2022-08-19
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