What are the responsibilities and job description for the BSA (Bank Secrecy Act) Fraud Analyst position at Naveo Credit Union?
About us :
Naveo is a not-for-profit financial institution (with locations in Somerville and Cambridge) focused on serving our members as partners, guiding them towards their financial goals. We embrace their personalities, cultures, and ambitions, tailoring our services to fit their needs and creating a financial plan that matches up with their current and future goals. At Naveo, it's your journey.
Our team is made up of experienced and dedicated employees seeking to make an impact in the communities we serve by supporting our local economy, small businesses and community organizations. Interested in bringing value to our members and neighbors? Seeking to develop your skills? You might be a fit for one of our openings.
About the role :
The BSA / Fraud Analyst position is responsible for ensuring compliance with the Bank Secrecy Act (BSA) / Anti-Money Laundering (AML) policies and procedures and the applicable federal regulations to protect the Credit Union from being used as a conduit for illegal activity. The BSA / AML program includes Currency Transaction Reports (CTRs), Office of Foreign Assets Control (OFAC), Suspicious Activity Reports (SARs), Customer Due Diligence (CDD), and Customer Identification Program (CIP).
Requirements
Responsibilities include :
- Review, monitor, and clear various system-generated alerts and reports relating to critical file maintenance and transaction activity to detect and prevent suspicious activity, fraud, and other violations of law or BSA / AML policies and procedures.
- Review account opening and maintenance documentation, including CIP verification, beneficial ownership, and personal / business member questionnaires. Log and track any exceptions identified for prompt resolution.
- Conduct enhanced due diligence and assign risk ratings to members. Perform ongoing high-risk monitoring reviews.
- Assist in the investigation, compilation, and filing of Currency Transaction Reports and Suspicious Activity Reports.
- Investigate incident reports submitted by staff and take appropriate action.
- Provide exceptional BSA / AML and fraud support to staff via various channels.
- Ensure that deadlines for regulatory report filings and monitoring reviews are met. Ensure that recordkeeping requirements are maintained.
- Research and escalate for review possible matches to Sections 314(a) and 314(b) information sharing, OFAC sanctions lists, and related watch lists.
- Prepare for and participate in SAR Committee meetings for initial and continuing reviews of suspicious activity.
- Assist management with preparation for external audits and regulatory exams.
- Participate in ongoing training to maintain current knowledge of BSA / AML and fraud compliance.
Our ideal candidate looks like :
Education / Experience :
Have some of the above skills or qualifications, but not others? Contact us and let us know why you think you'd be a fit.
MORE ABOUT US :
Naveo Credit Union, formerly Cambridge Portuguese Credit Union, was incorporated in 1928 by members of the Portuguese-American community as a place for their community to grow their savings with confidence and borrow money at low rates. In 2014, we changed our name to Naveo Credit Union to complement the changing demographics of the area - we welcome everyone in the community to become a member. We are socially responsible, supporting local non-profit organizations that serve our membership.
Naveo is an equal opportunity employer that values diversity. We do not discriminate based on perceived or actual race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, or status as an individual with a disability. Naveo is committed to providing access, equal opportunity and reasonable accommodation for individuals with disabilities in employment and activities.