BSA/AML/OFAC Compliance Analyst - San Antonio, United States - Randolph-Brooks Federal Credit Union (RBFCU)

Description

Job Description and Requirements

The BSA/AML/OFAC Compliance Analyst I will perform a wide variety of Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Asset Control (OFAC) duties and pro-actively monitor, research, analyze, and escalate all suspicious activity to ensure continuous compliance with the regulatory guidelines and applicable laws. In addition, the Analyst will be responsible for timely filing required reports, as well as compliance with BSA recordkeeping requirements.

Essential Functions and Responsibilities:

• Use cognitive and analytical abilities to identify money laundering patterns and trends, suspicious activities, and irregular activity through understanding of financial patterns of activity.
• Use strong written communication ability to create detailed documentation of reviews of suspicious activity, resolution and/or escalation of alerts, as well as any immediate action needed.
• Through strong investigative skills, evaluates and analyzes complex information identified during investigations to make appropriate recommendations that may require additional monitoring and/or Suspicious Activity Report (SAR) filing.
• Provide assistance to the team and other business units throughout the credit union to support, educate, guide, and answer questions relating to BSA/AML, OFAC and Customer Identification Program (CIP).
• Stay abreast of BSA/AML, OFAC, and CIP regulatory updates and change; comply with regulatory requirements and internal policies and procedures.
• Monitor transactional activity and provide quality control support for the submission of Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTR); comply with all submission deadlines, as required.
• Review and analyze OFAC alerts to determine potential match and take appropriate action, including prompt escalation to management.
• Triage internal SAIs (Suspicious Activity Incidents) to ensure appropriate information has been captured and establishes a case within the monitoring system, as procedurally required.
• Communicate with senior level team members to escalate suspicious activity in order to determine immediate action to pro-actively protect the organization.
• Review and monitor reports and escalate to appropriate management and team members, as needed.
• Within the regulatory required time frame and in the required frequency, process the 314(a) list against the credit union's database.
• Review alerts generated by the database and escalate to management any findings and recommendations.
• All other duties as assigned (Note: essential functions and responsibilities may change or new ones may be assigned at any time with or without notice).

Requirements:

• High School Diploma or G.E.D.
• Minimum of 1 year job-related experience
• Overall knowledge of BSA/AML and OFAC regulatory requirements
• Ability to pay close attention to detail and desire to strive for accuracy
• Ability to effectively manage responsibilities independently and in an organized manner in a fast-paced environment
• Ability to effectively communicate, both verbally and in writing
• Ability to effectively work with Microsoft Office products and other software
• Ability to articulate investigation findings in well written/documented narratives
• Bank Secrecy Act Certified Specialist (BSACS) required within one year

All qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, gender identity, religion, national origin, disability, veteran status, or other legally protected status.