What are the responsibilities and job description for the BSA and Fraud Manager position at Rockland Federal Credit Union?

Job Description

Under the direction of the VP of BSA and Compliance, Responsible for administering compliance with all aspects of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Asset Control (OFAC) and the USA Patriot Act. Also responsible for ensuring compliance with Identity Theft Prevention and Red Flags, Privacy, and credit union security related laws, regulations and policies.

RESPONSIBILITIES :

Coordinates, oversees and implements all aspects of BSA, AML, and OFAC program management, including updates and revisions to related policies and procedures.
Manages, coaches, and develops BSA / AML team members.
Develops, implements, assesses and administers the BSA / AML / OFAC / USA Patriot Act monitoring systems to ensure that appropriate parameters are in place to identify suspicious and / or fraudulent activity.
Reviews, analyzes, and investigates account / member activity as indicated by system-generated reports, alerts and notifications.
Establishes and maintains an effective Customer / Member Due Diligence (CDD) and Enhanced Due Diligence (EDD) risk rating and monitoring program to include initial and ongoing assessments, review and analysis of unusual / suspicious account activity.
Establishes and maintains appropriate SAR investigation, review and reporting processes that promote consistent decisions; adequate investigation and research; and complete and detailed documentation.
Conducts BSA / AML / OFAC risk assessments annually or as needed with consideration to products, services, members and geographies that may present BSA / AML / OFAC related risks.
Ensures regulatory reporting compliance, including filing Currency Transaction Reports (CTRs), and Suspicious Activity Reports (SARs), OFAC Screenings, and FinCEN 314(a) and 314(b) reporting.
For BSA / AML / OFAC and related matters works with the BSA and Compliance Officer to serve as a liaison / contact for auditors, examiners, board of directors, Supervisory Committee, consultants, and law enforcement officials.
Coordinates and / or provides in-house training programs to management, and employees. Provides BSA guidance and coaching to business units to ensure that they are knowledgeable and skilled.
Analyzes developing industry and compliance trends, scams or schemes, and changes to laws and regulations pertaining to BSA / AML / OFAC / USA Patriot Act.
Advises management of emerging risks, new or amended laws, regulations, or agency guidance, and recommends and implements risk mitigation.
BSA Monitoring and Filings :

Ensures all required regulatory reporting is conducted in a timely, accurate, and compliant manner.

Ensures completion of required CTRs by comparing system generated reports to CTRs submitted.

Reviews watch lists and watch lists alerts. Analyzes possible matches and takes appropriate follow-up actions.

Reviews anti-money laundering alerts for suspicious activity. Performs additional research to determine if activity is suspicious.

Composes, reviews and files Suspicious Activity Reports (SARs) and conducts follow-up reviews to determine if subsequent SAR filings are required.

Reviews 314(a) procedures and reporting.

Maintains in-depth knowledge of and complies with all Federal, departmental and security policies and procedures as well as federal regulations applicable to the position, including BSA requirements.

Completes all required compliance training as assigned.

Performs other duties as assigned.

Prepared periodic and ad hoc reports to Credit Union management, Board of Directors, and Supervisory Committee.

Networks with industry peers, professional associations, and related workgroups.

REQUIREMENTS :

Bachelor's degree in related field, or equivalent work experience

Minimum of seven (7) years' prior related experience in a financial institution, preferably a credit union or bank

Required Certified Anti-Money Laundering Specialist (CAMS), or Certified Regulatory Compliance Manager (CRCM) or an equivalent combination of education and experience sufficient to perform the essential functions of the job

Prior management experience

Advanced knowledge of related laws and regulations (BSA / ALM / Patriot Act, OFAC)

Advanced knowledge of bank / credit union operations, systems, and infrastructure

Advanced written, oral, and organizational skills

Strong decision making, analytical, and investigation skills with high attention to detail

Intermediate proficiency in software for core banking, anti-fraud, risk, and / or compliance management

Intermediate skills in Microsoft Office suite (Word, Excel, Outlook)

BENEFITS :

RFCU offers a comprehensive benefits package, including Cigna medical benefits, dental benefits, vision benefits ,a 401(k) plan with company match and profit-sharing potential, flexible health and dependent care plans, and life, AD&D, and LTD insurance. We also provide a generous and flexible tuition reimbursement program, along with a PTO package designed to help employees recharge and enjoy time with family and friends.

Rockland Federal Credit Union is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.

Job Posted by ApplicantPro

Apply for this job

Receive alerts for other BSA and Fraud Manager job openings

BSA and Fraud Manager

What are the responsibilities and job description for the BSA and Fraud Manager position at Rockland Federal Credit Union?

What is the career path for a BSA and Fraud Manager?

Job openings at Rockland Federal Credit Union

Not the job you're looking for? Here are some other BSA and Fraud Manager jobs in the Canton, MA area that may be a better fit.

We don't have any other BSA and Fraud Manager jobs in the Canton, MA area right now.

AI Assistant is available now!