What are the responsibilities and job description for the Manager, BSA AML Compliance (Know Your Customer) position at Navy Federal Credit Union?
Overview
Manage Navy Federal's BSA/AML and OFAC programs and operations in support of the AVP, BSA/AML and OFAC Compliance. Guide the monitoring of Navy Federal's financial assets, protect the security of membership personal information/assets from risk/exposure, and ensure compliance with federal and industry regulations. Oversee the operations of a sustainable, effective, and efficient BSA/AML and OFAC Compliance Program. Provide tactical and strategic assistance to AVP, BSA/AML and OFAC Compliance to include system and project initiatives.
Responsibilities
Locations: 820 Follin Lane Vienna, Virginia 22180 | 5550 Heritage Oaks Dr. Pensacola, FL 32526 | 141 Security Drive Winchester, VA 22602
About Us
Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.
Our approach to careers is simple yet powerful: Make our mission your passion.
Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected Veteran.
Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
Manage Navy Federal's BSA/AML and OFAC programs and operations in support of the AVP, BSA/AML and OFAC Compliance. Guide the monitoring of Navy Federal's financial assets, protect the security of membership personal information/assets from risk/exposure, and ensure compliance with federal and industry regulations. Oversee the operations of a sustainable, effective, and efficient BSA/AML and OFAC Compliance Program. Provide tactical and strategic assistance to AVP, BSA/AML and OFAC Compliance to include system and project initiatives.
Responsibilities
- Manage Navy Federal's BSA/AML and OFAC Compliance functions in accordance with the Federal Financial Institutions Examination Council (FFIEC), and state and federal regulations
- Oversee BSA/AML and OFAC operations including Customer Identification Program (CIP), implementation of controls, suspicious activity reports (SAR) and related regulatory reports
- Conduct analyses of AML and OFAC models and monitoring systems ensuring adherence to best practices, and timely, proactive, accurate identification/detection of risk activities
- Drive and interpret BSA/AML and OFAC risk assessments, determine impact and/or changes on current business processes, and ensure timely resolution of identified issues/concerns
- Oversee interpretation and implementation of regulatory changes and change management impact on enterprise-wide operations, systems, processes and staff/management compliance training
- Build collaborative relationships and liaise with external regulatory agencies regarding communication of alerts, issue resolution and response, and best practices
- Serve as point of contact on internal and external regulatory examinations
- Manage vendor relationships to ensure product service and quality
- Contribute significantly to development of Objectives and Key Results (OKR), monitor performance and achievement regarding OKRs, determine gaps in performance metrics, and recommend/execute change management techniques for efficiency/quality improvements
- Monitor, identify, and respond to high risk customer/activities impacting Navy Federal members, services, and financial assets
- Collaborate with ISD to integrate, develop, and maintain key department automated systems, notably the BSA/AML monitoring tool
- Define specifications for automated systems enhancements
- Provide counsel and advice to business unit managers and project leaders on BSA/AML compliance matters and processes
- Manage an enterprise wide BSA/AML and OFAC education and training strategy through collaboration with Navy Federal e-Learning, and other business unit training areas for enterprise or targeted business groups
- Manage business recovery plans by developing effective processes and procedures, and maximizing the detection of risk/potential exposures of transactional activities impacting Navy Federal business
- Develop and manage a communications strategy to champion new regulations and strategies to include change management impact, response plans, education requirements to ensure maximum regulatory compliance and minimize risk exposure
- Assess cross functional impact of business process changes on BSA/AML and OFAC processes and rules
- Perform other related duties as assigned or appropriate
- Advanced knowledge of Bank Secrecy Act, USA Patriot Act, OFAC regulations and associated requirements
- Significant experience in compliance roles having broad exposure to regulations interpretation, compliance implementation, risk assessment analysis, regulatory audits, administration, and communications
- Experience in leading large projects/initiatives which have business risk and impact
- Significant experience in working with all levels of staff, management, stakeholders, vendors
- Experience in change management processes including strategies, business processes, education and communication
- Effective skill managing multiple priorities independently and/or in a team environment to achieve goals
- Advanced research, analytical, and problem solving skills
- Advanced skill in presenting findings, conclusions, alternatives and information clearly and concisely
- Advanced skill exercising initiative and using good judgment to make sound decisions
- Significant skill in results-oriented leadership in a challenging environment
- Effective word processing and spreadsheet software skills
- Effective database and presentation software skills
- Experience building and managing Know Your Customer (KYC) processes, including CIP, CDD, EDD functions
- Experience coordinating with first line of defense (1LOD) functions to advise on KYC-related requirements
- Experience reviewing and responding to KYC-related inquiries and cases to identify and escalate potentially higher risk customers and suspicious activity
- Experience developing and maintaining policies, procedures, guidelines, and systems reference aids to support CIP/CDD/EDD functions
- Working knowledge of NFCU products, services, programs, policies and procedures
- Working Knowledge of banking/financial industry trends, products and services
- ACAMS Certified
Locations: 820 Follin Lane Vienna, Virginia 22180 | 5550 Heritage Oaks Dr. Pensacola, FL 32526 | 141 Security Drive Winchester, VA 22602
About Us
Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.
Our approach to careers is simple yet powerful: Make our mission your passion.
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- Ripplematch Recruiting Choice Award
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Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected Veteran.
Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
Salary : $128,300 - $215,600
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