Manager, BSA

Allegacy Federal Credit Union

Employee Job Description

Job Title: Manager, BSA Job Code:

Report To: SVP, Risk

JOB DESCRIPTION

Role Accountability

At Allegacy, there’s a common thread that runs through all of us. It’s our commitment to doing right and our promise to members to always to the right thing for their wellbeing. Every employee in our organization is accountable to living out our brand in meaningful ways as our promise motivates our beliefs, our behaviors, and the benefits we share together. To achieve this goal the employee must provide outstanding service to both internal and external members. A key component of this service is to identify the financial needs of the member and recommend an appropriate credit union solution.

Nature and Scope

The BSA Manager is responsible for developing, implementing, and administering all aspects of the Bank Secrecy Act Compliance Program. This position will oversee the daily operations of the BSA/AML program, including monitoring, reporting and training.

The primary focus of the Manager BSA is to manage an effective BSA/AML compliance program and assure that Allegacy conducts all operations in compliance with BSA/AML, US Patriot Act, OFAC, Customer Identification Programs (CIP), and Customer Due Diligence (CDD).

ESSENTIAL FUNCTIONS:

• Develop each employee to their highest potential by identifying their areas for improvement and appropriately coaching, training or correcting the employees’ performance.
• Recognize employees who perform at a high level.
• Hold employees accountable for their performance, attitude and behavior.
• Meet with each employee to review previous performance, set goals for performance and develop plans to improve employee’s performance.
• Responsible for exceptional member service to every member, every time by ensuring employees deliver consistently high quality service to both internal and external member that is in alignment with our Brand Culture.
• Demonstrate enthusiastic support of corporate mission, core values and long-term objectives. Performs job duties within our bylaws, regulations, Board of Directors policies, established internal and external service standards and our work procedures.
• Assign, direct, coordinate and review work performed by staff.

• Manage and triage BSA/AML Alerts generated by BSA/AML interdiction software and research activity on identified accounts. Conduct detailed investigations of member’s activity as warranted based on AML interdiction software alerts to identify suspicious or illegal activity. Experience with Verafin a plus.
• Review Suspicious Activity Reports (SARs) and submit them for electronic filing and prepare monthly SAR Filing Report for submission to the Board of Directors.
• Maintain up-to-date knowledge of changes, and industry best practices, regarding BSA/AML, OFAC, PATRIOT Act, CIP and CDD and determine effects of such laws and regulations on Credit Union policies, procedures and practices; recommend and implement changes as needed and communicate changes in requirements or procedure to affected Credit Union personnel.
• Coordinate with internal Learning and Performance staff with scheduled BSA/AML training.
• Ensure the BSA team reviews new business accounts for accurate CDD information and documentation. Confirm other required information is present and included in the new account packet. Coordinate efforts with Allegacy’s operations personnel as needed to obtain additional documentation related to new business accounts.
• Oversees and monitors procedures regarding currency transaction reporting, including reviewing currency transaction reporting (CTRs), following up on missing information and CTR filings.
• Coordinate with internal and external auditors and exams for BSA/AML compliance.
• Perform annual BSA/AM/OFAC risk assessment.
• Perform additional responsibilities; participate with special projects etc., as requested by management.

KNOWLEDGE, SKILLS and ABILITIES

• Thorough and strong knowledge and understanding of the laws and regulations applicable to money laundering, including the Bank Secrecy Act (BSA), The USA Patriot Act, OFAC requirements, FinCEN requirements, Currency Transaction Reports (CTR) and Suspicious Activity Report (SAR) requirements.
• Knowledge of current money laundering trends, techniques and tools employed by criminals and terrorist, as well as regulatory expectations.
• Familiar with credit union (banking) laws and regulations in general and the businesses of the Credit Union in particular.
• Strong analytical, critical thinking and problem solving skills.
• Proven investigative, research and internal database skills.
• Excellent written and oral communication skills.
• Excellent judgment, prioritization, planning and organization skills and capable of working within multiple deadlines in a high stress, fast paced and rapidly changing environment.
• Ability to manage complex assignments independently and while also working effectively as part of a team.
• Extraordinary attention to detail.
• Ability to maintain confidentiality in respect to the member’s financial affairs.

EDUCATION AND EXPERIENCE

Bachelor’s degree, or equivalent work experience.

Certified Anti-Money Laundering Specialist (CAMS) or similar certification required.

3 years of management experience preferred.

5 years of BSA/AML compliance experience required.