What are the responsibilities and job description for the BSA AND FRAUD MANAGER position at Rockland Federal Credit Union?
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.
REQUIREMENTS :
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.
