Compliance Specailist

Job Type Full-time Description

Job Summary

The primary function of this position is to assist the credit union in achieving its vision to become the preferred financial service provider for all members. This is achieved by providing outstanding service to both internal, external and potential Members that meets the Service Promises and Standards of the credit union.

Safeguards member information and Credit Union vital records in a manner commensurate with the sensitivity of the information and in compliance with the Credit Union’s information security policies, standards and procedures. A key component of this service is to identify the members’ financial needs and recommend appropriate credit union solutions.

Is responsible for maintaining files on highly sensitive information including but not limited to, BSA/Patriot Act/OFAC compliance monitoring and fraud reporting. Processes the Smurf Reports- for cash, monetary instruments, wires, currency transaction reports and suspicious activity reports. Submits CTR and SAR reports in Verafin that are directly uploaded to FinCEN. Processes the Verafin CTR, SAR, FRAML, Account Fraud, Debit Fraud, Remote Banking, AML, Watch List, Active Cases, International wire, Subpoena and ACH suspicious activity reports according to guidelines. Involved in all Risk and Compliance operations and procedures and has the basic knowledge of the department’s functions. Trains appropriate staff in the assistance/back-up of BSA/Patriot Act/OFAC/314a monitoring. Works with law enforcement on fraud cases and may be required to represent the Credit Union in court cases when applicable.

Primary Responsibilities

• Provides exceptional member service to all internal, external and potential credit union members that meet the Service Promises and Standards of the credit union.
• Assist/cooperate with all departments to ensure a "team effort" and prompt member service.
• Responsible for the maintenance, updating and production of BSA/Patriot Act/OFAC/314a reporting by using the cash/wire and Verafin software to produce reports which are then scrutinized for suspicious (red flag) and fraudulent activity.
• Responsible for processes and alerts in Verafin CTR, SAR, FRAML, Account Fraud, Debit Fraud, Remote Banking, AML, Watch List, Active Cases, International wire, Subpoena and ACH suspicious activity reports according to guidelines.
• Reviews alerts in Verafin.
• Reviews Smurf reports in Optical for potential CTRs.
• Collects information, submits and files all aspects of Suspicious Activity Reports through Verafin.
• Collects information, submits and files all aspects of Currency Transaction Reports through Verafin.
• Assists with regulatory examinations.
• Prepares information for Board of Directors monthly and annual reports.
• Prepares Policies on all BSA, Patriot Act and OFAC to be approved by the board annually.
• Responsible for blocking Debit Cards if members have fraud on account and the card has not been blocked already.
• Assist with reviewing emails from other departments regarding potential fraudulent activity or high risk concerns. Sends emails to the appropriate departments to block deposits via Mobile or ATM when Fraud has occurred. Block members eBranch if fraud is suspected.
• Assists and works with Law Enforcement regarding fraud cases.
• Provides testimony in and out of court should any litigation result from fraud cases or SARs.
• Provides documentation for Subpoenas.
• Work Salesforce cases and emails on a daily basis.
• Block debit cards, close accounts and send proper notification as needed if they fall outside the Credit Union’s Risk Profile.
• Assists in handling member/employee questions, in relation to BSA and/or Compliance.
• Assists in handling member/employee questions in relation to Elder Abuse.
• Responsible for cross-training a back-up for Verafin reporting.
• Cross-sell other products and services offered at credit union.
• Perform other duties as assigned and support all areas of the credit union and its affiliates.

Requirements

Skill Requirements

• Exceptional customer service skills
• Must be able to write descriptive statements and letters.
• Effective interpersonal skills
• Goal oriented
• Detail oriented
• Initiative/self-starter
• Proven problem solving, conflict resolution and time management
• Listening, oral, and written communications

Candidate Profile

• Bright
• Verbal
• Approachable
• Enthusiastic
• Energetic
• Flexible

Other Requirements

• A high school diploma or general educational development (GED) diploma. Eighteen (18) months related experience and /or training preferred; or equivalent combination of education and experience.
• Preferred BSACS Certification or obtain it within first year.
• Must be bondable.
• Must be able to write descriptive statements and letters.
• Must adhere to all applicable Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) laws and regulations.

Technical Requirements

• Fax, calculator.
• Must have advanced computer skills.
• Microsoft Word and Advanced Excel.

Physical and Environmental Demands

• The employee must frequently sit for extended period.
• The employee is frequently required to walk. 
• The employee must frequently lift or move object weighing up to 10 pounds.
• The employee is occasionally required to reach for objects.
• The employee must frequently handle, feel, and finger objects. 
• The employee must frequently receive auditory information by listening in person and/or by phone.
• The employee must frequently express or exchange ideas by means of the spoken work in person or via phone to impart oral information to individuals or groups.
• Specific vision abilities required by this job include close vision and the adjustment of the eye to bring an object into focus.

Environmental Demands

• The employee must frequently work with frequent interruptions through a variety of channels including phone, chats, cases, and emails.