BSA Compliance & Quality Control Officer
Description Job Function BSA Compliance Under general supervision and in compliance with established policies, procedures state and federal laws and regulations the BSA Compliance Officer under the direct supervision of the President/CEO is responsible for a broad variety of duties as assigned to include but not limited to maintaining and assisting with the execution of the BSA and OFAC Compliance Programs of the credit union.
They will train and work closely with BSA Assistant(s), including formulating procedures for carrying out the activities of the function. The BSA Compliance Officer will be required to safeguard member information and the Credit Union’s vital records in a manner commensurate with sensitivity of the information and in compliance with laws, regulations and the Credit Union’s information security policies, standards and procedures.
The BSA Officer will embrace and promote the Credit Union of Atlanta’s culture in making sure that our members receive the “Total Member Experience” at all times. The BSA Compliance Officer will carry out carrying out the board’s direction, including the implementation of the credit union’s BSA /AML policies, procedures, and processes to include but not limited to processing CTR’s, SAR’s, FINCEN, FRAML, Red Flag and OFAC alerts, FAC, 314a and Verafin reporting and ensuring staff remain in compliance.
Observes internal controls, confidentiality and security of all Credit Union, member and employee information, and adheres to the highest level of business ethics and discretion. Duties and Responsibilities · Responsible for maintaining the day-to-day BSA/AML compliance to include processing CTR’s, SAR’s FINCEN, OFAC Hits and FRAML, RED Flag and High-Risk alerts, Verafin and OFAC reporting: International Transactions (IAT) alerts, MIL (Monetary Instrument Log) High Risk Accounts, FinCen 314a, Wire activity log, staff BSA required training, BSA Board of Directors Report.
· Responsible for providing input on Branch operations and BSA compliance procedures and policies. · Identify, track, and investigate suspicious activity through the review of systems reports and BSA/AML monitoring software alerts. Create cases in the monitoring software under the direction of the BSA Compliance Officer and Retail Branch Administrator. · Assist in preparation for all internal and external examinations of BSA/AML, USA PATRIOT Act, OFAC, Red Flag and related issues.
Assist in preparation of reports and correspondence as needed to the regulatory agencies and the Board of Directors. · Participate in response to exam and audit concerns, findings and assist with the corrective action of all related compliance deficiencies or violations. · Attends meetings, conferences, courses and workshops that will increase professional knowledge and be otherwise beneficial to the Credit Union.
This includes but not limited to BSA/AML Compliance Training and understanding employee’s role in maintaining an effective BSA/AML compliance program, and completing Elder Abuse, FACT Act, Information Security and Reg Flag Training. Assist other team members in the research of customer accounts (account reviews, CIP, Foreign transactions and Wire Review, etc.) when questions arise (based on red flags).
Assists with BSA/AML/ Fraud/ OFAC/ alerts to case workflow. Reviews accounts for potential illicit activity based on scope of normal account activity in order to triage alerts before moving the case to a specific queue in the AI system. Conduct phone interviews and obtain information related to account activity as needed from both team members and credit union members alike. Recommends a course of action to BSA Compliance Officer and Retail Branch Administrator, based on findings from the BSA/ AML/ Fraud/ OFAC hits and FRAML alert triage process.
Present potential SAR cases to BSA Compliance Officer and Retail Branch Administrator; recommend File/Do Not File decisions based on analysis performed. Prepare SAR documents and compose wr