What are the responsibilities and job description for the Risk Management Specialist position at Michigan First Credit Union?
Location : Address : 27000 Evergreen
Location : City : Lathrup Village
Location : Postal Code :
48076
Responsibilities : JOB SUMMARY :
Responsible for assisting and supporting the Risk Management Team in implementing policies and practices that limit or reduce the financial, physical and human risks associated with operating a financial institution. Assists in implementing risk management practices that provide adequate security safeguards to protect the financial and physical assets of the credit union.
KEY JOB RESPONSIBILITIES :
- Prepare and / or review Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) compliance reports, including but not limited to Suspicious Activity Reports (SARs), Currency Transaction Reports (CTRs), and Monetary Instrument Reports.
- Review and respond to early warning systems, queues, and reports to prevent fraud, mitigate fraud losses, identify errors, and investigate and report suspicious activity.
- Research, resolve, and track member fraud and identity theft claims using a consistent and well-organized system.
- Conduct additional research and follow through on more complex cases. Investigate member transactions through comprehensive research through use of investigative systems and tools, including review of CCTV video.
- Ensure clear, concise, and compelling research is documented thoroughly. Prepare detailed written reports for periodic fraud and dispute tracking. Present factual documentation and recommendations to leadership.
- Effectively communicate with members utilizing interviewing techniques, communicating status updates, and finalizing decision outcomes to members through both written and verbal communication.
- Work with cross-functional teams to identify fraud patterns and make procedural adjustments to help mitigate fraud and reduce exposure to losses.
- Provide consultative support to team members regarding scams, risk mitigation strategies, physical security, fraud management, training, and BSA compliance.
- Access physical security systems, maintain system security profiles, and provide access to authorized users.
- Work directly with legal counsel and appropriate law enforcement or government agencies as necessary.
- Research, retrieve, and transmit subpoena information / documentation requests as appropriate.
- Knowledgeable about state, federal and local rules and regulations, restrictions and requirements relative to the risk exposures inherent in the credit unions operations.
- Becomes / is an advocate of the Michigan First culture, supporting diversity, philosophy and other credit union initiatives. Fosters a positive image of Michigan First via professional representation in all contacts and complies with all of Michigan Firsts mission and vision goals. Reflects each of the credit unions Isms in daily job performance. Learns and utilizes the EMEC way (Every Members Experience Counts) in day-to-day responsibilities when communicating with members and team members.
- Performs other duties as assigned.
Qualifications :
QUALIFICATIONS / REQUIREMENTS :
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and / or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Who We Are :
Michigan First Credit Union was founded more than 90 years ago by educators and now delivers world-class service to more than 185,000 members at our branches throughout Michigan, and were growing! We offer financial solutions for every life stage and seek to positively transform our members lives through personalized service that meets their unique needs.
Simply put, Michigan First Credit Unions sole mission is to provide the highest quality member experience. Working here, youll get to participate in a strong culture centered around service, professionalism, and growth.
Michigan First highlights :
Awards Michigan First Credit Union has been the proud recipient of :
Benefits and perks of joining our award-winning team include :
Michigan First Credit Union is an Equal Opportunity Employer.
