What are the responsibilities and job description for the BSA/AML, Fraud and Risk Management Officer position at Members First Credit Union of N.H.?
Job Overview
Members First Credit Union is seeking an experienced and detail-oriented BSA/AML, Fraud and Risk Management Officer to oversee and manage the credit union's Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and fraud risk management programs. This ideal candidate will ensure compliance with all federal regulations, identify and mitigate fraud and risk, and serve as the primary contact for audits and regulartory reviews. Experience with Verafin or similar BSA/AML software is required.
Key responsibilities
- Ensure compliance with all federal rules, laws and regulations related to BSA/AML and OFAC.
- Monitor and review transaction activity, including OFAC scans, cash and wire transfers, account openings and closings, online banking, and ATM/debit card usuage.
- Conduct risk assessments of business and member relationships and maintain a robust risk-based AML program.
- Prepare, review and file SARs and CTRs with accuracy and timeliness.
- Manage enhanced due diligence and risk ratings for high-risk members, accounts, and transactions.
- Utilize Verafin Fraud Detection software to monitor, detect and respond to suspicious or fraudulent activity.
- Investigate and manage fraud cases, including recovery efforts, and develop controls to mitigate future risks.
- Assess member and product fraud risks, implementing appropriate mitigating controls.
- Act as primary contact for internal and external audits related to BSA/AML, fraud and risk related matters.
- Prepare reports and provide recommendations to management on BSA/AML, fraud, and risk-related matters.
- Maintain accurate records of CIP (Customer Identification Program) exceptions and ensure resolution.
- Periodically test and enhance BSA/AML fraud detection procedures.
- Develop and maintain BSA/AML policies and procedures.
- Stay informed about changes to deposit and loan regulations and ensure organizational compliance.
Qualifications
- Bachelors degree in Business, Finance or related field or an equivalent combination of experience.
- Minimum 2 years of experience in BSA/AML compliance, fraud detection and risk management within a financial institution.
- CAMS (Certified Anti-Money Laundering Specialist) or equivalent certification.
- Proficiency with Verafin or similar BSA/AML software is required.
- Experience in developing high-risk AML programs and managing fraud investigations.
- In-depth understanding of BSA/AML/OFAC rules, regulations, and best practices.
- Strong analytical and problem solving skills with attention to detail.
- Excellent communication skills, both written and verbal to convey findings and recommendations.
- Ability to manage multiple tasks and meet deadlines in a dynamic enviroment.
At Members First Credit Union, we prioritize our members and community. As part of our team, you will play a critical role in ensuring the security and compliance of our organization while helping us achieve our mission of excellence and trust in financial services.
Job Type: Full-time
Pay: $24.00 - $40.00 per hour
Expected hours: 40 per week
Benefits:
- 401(k)
- Dental insurance
- Employee assistance program
- Flexible spending account
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Schedule:
- 8 hour shift
Work Location: In person
Salary : $24 - $40