Vice President of BSA/AML

About the Role

As the VP of BSA/AML, you will be responsible for developing, managing, and updating the BSA/AML and Office of Foreign Assets Control (OFAC) compliance programs. You will oversee risk identification, mitigation strategies, and adherence to regulatory standards while collaborating with key stakeholders across the organization.

Key Responsibilities

• Develops, manages, and updates the Bank Secrecy Act/Anti-Money Laundering/OFAC Compliance Program and Procedures to ensure effective identification, measurement, control and management of the associated relevant compliance and operational risks.
• Monitors performance of BSA/AML on a continuing basis, evaluating and communicating the effectiveness of the program; implementing changes as necessary to improve performance
• Serves as board appointed BSA Officer.
• Prepares reports for the Board of Directors on a monthly, quarterly and annual basis, ensuring the Board is kept fully informed of the BSA Program. Ensures compliance and timely filing of Currency Transaction Reports, Suspicious Activity Reports (SARs), 314(a) and 314(b), across all business lines.
• Acts as primary point of contact for law enforcement requests related to BSA Violations, Money Laundering, Terrorists Financing, and supporting document requests.
• Serve as point of contact under section 314 (a)/(b) of USA PATRIOT Act.
• Serves as primary contact for BSA/AML audits and examinations.
• Respond to audit and exam findings; and, implement corrective actions, as needed.
• Designs, implements and administers the Automated Monitoring System (AMS) to provide for the automated and timely filing of Currency Transaction Reports (CTR); and, SARs; development of reports to monitor reportable currency transactions; and, development of reports to monitor for suspicious or unusual activity.
• Lead the development, implementation, and maintenance of compliance policies and procedures to ensure they are effective and reflect current regulatory standards.
• Oversee the monitoring and analysis of regulatory compliance changes and ensure timely updates and adjustments to compliance policies and procedures.
• Oversee the assessment of compliance risks across the institution, developing and implementing mitigation strategies.
• Ensure effective monitoring systems are in place to detect and address compliance issues promptly.
• Ensures regulatory training requirement is met by coordinating with Training, to ensure that all crewmembers receive job appropriate training near hire date; and, at least annually thereafter.
• Develops and delivers annual training to the Board of Directors and Audit Committee.
• Escalates issues that may have a detrimental impact on the credit union’s BSA and Regulatory Compliance Program, as appropriate.
• Oversees project management on key risk management initiatives.
  
  

What We’re Looking For

• Minimum 5-7 years' experience in similar role.
• Extensive expertise in BSA/AML, OFAC regulations, and the USA PATRIOT Act.
• ACAMS certification required.
• Previous Credit Union experience preferred.
• Previous Verafin experience preferred.
• Proven leadership experience in compliance, risk management, or financial crime prevention.
• Strong analytical, strategic, and problem-solving skills.
• Excellent communicator.
• Ability to engage and influence stakeholders at all levels.
  
  

Why Join FAIRWINDS?

FAIRWINDS is recognized as an employer of choice, offering a supportive and engaging workplace with competitive benefits, including:

• 85% employer-paid medical, vision, and dental coverage
• 401(k) match at 6%
• 11 paid holidays per year
• Paid vacation and sick time
• Wellness reimbursement – trade in unused sick time to pay for your gym membership!
• Tuition reimbursement
• ...and many more perks!

At FAIRWINDS, we are committed to helping our members achieve financial freedom while fostering an environment where our employees thrive. If you are ready to make an impact and lead with excellence, apply today!

FAIRWINDS is an Equal Opportunity Employer.