BSA Specialist in Del Mar at Vaco

Date Posted: 9/5/2019

Job Snapshot

Job Description






Position Summary:

The BSA Specialist is established to provide daily monitoring and maintaining of the credit unions Anti Money Laundering/Bank Secrecy Act (AML/BSA) program. The AML/BSA program includes; Currency Transaction Reports (CTRs), Office of Foreign Assets Control (OFAC), information sharing under section 314a and 314b, Suspicious Activity Reports (SARs), Customer Identification Program (CIP), and Customer Due Diligence (CDD). Additionally, this position ensures the credit union is in compliance with all applicable regulations. . Maintain quality service standards set by the organization.

Essential Duties and Responsibilities

  • Responsible for implementation and administration of all aspects of the day to day BSA/AML Compliance Program.
  • Assist in coordinating responses to regulatory BSA/AML examinations and audits and actions taken to insure deficiencies are corrected.
  • Maintain proficient knowledge of the rules and regulations, by attending 3rd party webinars/conferences as well as by completing the CU's computer based training courses including, but not limited to, BSA, USA Patriot Act, and OFAC.
  • Work with operations units to investigate transactions that are suspicious in nature.
  • Submit Suspicious Activity Reports for BSA/AML related activities.
  • Monitor and track BSA/AML high-risk customers and accounts.
  • Apprise BSA Compliance Officer of any adverse trends related to the position function.
  • Monitor, investigate and evaluate member's transactional patterns and account activity for potentially suspicious activity both as identified by automated software and by staff.
  • Provide recommendations for managing automated software by evaluating rules and thresholds, validating data, assisting with periodic upgrades.
  • Utilize automated software to generate regular batches, work cases generated by the batches, provide recommendations for filing decisions for each case alert, monitor high risk member accounts and review SARs generated on the software from other departments.
  • Accurately and within established timetables, work daily reports, follow up with staff as necessary, review and approve CTR forms, submit CTR's and oversee any CTR related projects.
    • Monitor OFAC comparisons, review possible matches, act as a dual control for OFAC processing and be a resource for staff in other departments.

  • Review biweekly 314a lists and report any matches as required by law.
  • Process all incoming and outgoing requests for information through the 314b sharing exception. Maintain annual 314b certification.
  • Periodically review the CIP and CDD programs and provide recommendation for improvements.
  • Respond to staff inquiries for assistance and information relating the AML/BSA program.
  • Complete all required compliance training by established deadlines.
  • Identify possible improvements in the AML/BSA policy, program, and procedures. Participate in AML/BSA related projects as required.
  • Assist as needed with the Red Flag compliance program.