Description
Primary Summary:
Essential Functions/Position Responsibilities:
· Monitors compliance with state and federal laws and regulations as it pertains to the Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering (AML), and OFAC.
· Acts as primary administrator of Verafin (AML software), ensuring integrity of data and full utilization of its functionality; reports all BSA-related activities to management.
· Consistently runs OFAC and 314a checks, investigating any and all matches; researches any unusual activity identified through Verafin or at the branch level.
· Manages the CTR process reviewing large system generated cash reports and CTRs for compliance.
· Monitors for SAR activity daily; investigates transactions that are suspicious and submits Suspicious Activity Reports for BSA-AML-related activities.
· Performs data integrity reviews on all new business relationships, ensuring accuracy with CIP procedures and documentation.
· Monitors and tracks BSA-AML high-risk customers and accounts; maintains the CDD/EDD risk rating and monitoring program to include initial and ongoing assessments, and reviews and analyzes unusual account activity.
· Principal contact for internal and external independent reviews or audits for the Credit Union; schedules and coordinates with internal and external auditors, including regulatory examiners, during audits and examinations to provide requested information.
· Prepares the Audit Committee monthly meeting information, participates in reporting to the Audit Committee, and prepares Audit Committee meeting minutes monthly.
Requirements
Position Requirements:
Experience
Two to Five years of similar or related experience, including time spent in preparatory positions.
Education/Certifications/Licenses
A two-year college degree or completion of a specialized course of study at a business or trade school. BSA certification preferred.
Interpersonal Skills
A significant level of trust and diplomacy is required to be an effective subject matter expert in the position. In-depth dialogues, conversations and explanations with customers, direct and indirect reports and outside vendors of a sensitive and/or highly confidential nature is a normal part of the day-to-day experience. Communications can involve motivating, influencing, educating and/or advising others on matters of significance.
Skills Required
- Two to five years of similar or related experience, including preparatory positions
- Two-year college degree or completion of a specialized business or trade school course
- BSA certification
- Significant trust, diplomacy, communication, advisory, and subject matter expertise skills
What We Do
Freedom Credit Union is a not for profit, community-based financial institution serving the five-county area surrounding Philadelphia. With four Access Center locations, Freedom has been meeting its members needs since 1934. Our not for profit approach allows us to offer our members lower rates on loans, better dividends, and fewer fees.
