BSA Compliance Analyst/FT/Nashua
Triangle Credit Union
Hudson, NH 03051, USA
Published yesterday
Compliance Management Systems / Technology
Full time
Role:
The Bank Secrecy Act (BSA)/Compliance Analyst will be responsible for assisting the VP Compliance/BSA Officer with activities that ensure the credit union meets State and Federal regulatory requirements. To ensure BSA compliance, as criminal activity is suspected, the BSA/Compliance Analyst will start the investigation process by creating a case file and working with the VP Compliance/BSA Officer, further investigate the member and their actions. This will include investigating and identifying activity for possible Suspicious Activity Report (SAR) and Currency Transaction Report (CTR) filings; ensuring all required filings, reports, reviews, and duties are completed and submitted timely; and meeting all regulatory guidelines. The BSA/Compliance Analyst will provide research, guidance and determination for OFAC clearing items related to consumer and business transactions or other BSA requirements.
To ensure overall credit union compliance, the BSA/Compliance Analyst will assist the VP Compliance/BSA Officer with updating and maintaining the credit union's compliance policy and program training to ensure organization-wide operational compliance. The Analyst will assist in working with Regulation Owners and Training to prepare appropriate training based on regulatory requirements, prior audit/exam findings and emerging regulations and rulings.
Essential Functions & Responsibilities:
• Prepares SARs by writing and providing the VP/Compliance/BSA Officer with submission-ready documentation and analysis to include a comprehensive narrative fully describing the suspicious transactions in accordance with FinCEN SAR instructions.• Reviews and verifies that all CTRs are completed correctly and prepared for final approval and submission.• Reviews manual transaction monitoring logs (Monetary Instrument, Cash, Wire) for completeness and reasonableness.• Reviews and dispositions daily OFAC/Watchlist suspects, sends communication to HR and department managers regarding failures to address.• Monitors and reviews account activity in identified alerts & cases, and with sufficient research, makes an assessment/recommendation on the proper course of action to management.• Performs enhanced due diligence research and/or investigations on new and existing members.• Assists in maintaining BSA high risk member files for BSA compliance (ATMs, ITMs, CIBs, CTR Exempt) including research for required state and federal licensing and registration.• Communicates with law enforcement and other financial institutions through the utilization of FinCEN 314(a) & (b) information sharing.• Assists with the compliance of the Member Identification Program (MIP).
• Completes the processing of police reports and other legal requests.
• Processes subpoenas including conducting account research, and collecting/submitting requested documentation to legal entities• Assists with the preparation and coordination of independent audits and regulatory exams.• Assists in the research of regulatory issues and questions from credit union personnel, using legal and regulatory reference materials and regulatory agencies.• Promotes overall regulatory compliance by adhering to all State and Federal Regulations• Maintains strong and up to date knowledge (functional and operational) of the rules and regulations, including but not limited to, BSA, USA PATRIOT Act, and OFAC as well as the Credit Union policies and procedures.• Prepares minutes of the monthly BSA meetings to submit to the Board of Directors.
• Assists the VP Compliance/BSA Officer in other daily operations and may serve as back up when needed.• Assists in the development, coordination, and facilitation of training programs to educate bank personnel compliance requirements and procedures.• Provides feedback to the VP Compliance/BSA Officer in regard to administering the BSA/AML and overall credit union Compliance program to refine as needed.• Performs other related duties as assigned.
Knowledge and Skills:
Experience
One year to three years of similar or related experience.
Education
A high school education or GED.
Interpersonal SkillsWork involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.
Other SkillsBe well versed on PC spreadsheet software. Proficient in Outlook 365 Based Systems.
Physical RequirementsOccasionally lift up to 25 pounds
Work EnvironmentProfessional office
Office and hybrid work from home possible
Triangle Credit Union is proud to be an Affirmative Action/Equal Opportunity Employer. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process or are limited to use the online application process, you may contact the Human Resources Department at 603-889-2470 for other options to apply.Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The Bank Secrecy Act (BSA)/Compliance Analyst will be responsible for assisting the VP Compliance/BSA Officer with activities that ensure the credit union meets State and Federal regulatory requirements. To ensure BSA compliance, as criminal activity is suspected, the BSA/Compliance Analyst will start the investigation process by creating a case file and working with the VP Compliance/BSA Officer, further investigate the member and their actions. This will include investigating and identifying activity for possible Suspicious Activity Report (SAR) and Currency Transaction Report (CTR) filings; ensuring all required filings, reports, reviews, and duties are completed and submitted timely; and meeting all regulatory guidelines. The BSA/Compliance Analyst will provide research, guidance and determination for OFAC clearing items related to consumer and business transactions or other BSA requirements.
To ensure overall credit union compliance, the BSA/Compliance Analyst will assist the VP Compliance/BSA Officer with updating and maintaining the credit union's compliance policy and program training to ensure organization-wide operational compliance. The Analyst will assist in working with Regulation Owners and Training to prepare appropriate training based on regulatory requirements, prior audit/exam findings and emerging regulations and rulings.
Essential Functions & Responsibilities:
• Prepares SARs by writing and providing the VP/Compliance/BSA Officer with submission-ready documentation and analysis to include a comprehensive narrative fully describing the suspicious transactions in accordance with FinCEN SAR instructions.• Reviews and verifies that all CTRs are completed correctly and prepared for final approval and submission.• Reviews manual transaction monitoring logs (Monetary Instrument, Cash, Wire) for completeness and reasonableness.• Reviews and dispositions daily OFAC/Watchlist suspects, sends communication to HR and department managers regarding failures to address.• Monitors and reviews account activity in identified alerts & cases, and with sufficient research, makes an assessment/recommendation on the proper course of action to management.• Performs enhanced due diligence research and/or investigations on new and existing members.• Assists in maintaining BSA high risk member files for BSA compliance (ATMs, ITMs, CIBs, CTR Exempt) including research for required state and federal licensing and registration.• Communicates with law enforcement and other financial institutions through the utilization of FinCEN 314(a) & (b) information sharing.• Assists with the compliance of the Member Identification Program (MIP).
• Completes the processing of police reports and other legal requests.
• Processes subpoenas including conducting account research, and collecting/submitting requested documentation to legal entities• Assists with the preparation and coordination of independent audits and regulatory exams.• Assists in the research of regulatory issues and questions from credit union personnel, using legal and regulatory reference materials and regulatory agencies.• Promotes overall regulatory compliance by adhering to all State and Federal Regulations• Maintains strong and up to date knowledge (functional and operational) of the rules and regulations, including but not limited to, BSA, USA PATRIOT Act, and OFAC as well as the Credit Union policies and procedures.• Prepares minutes of the monthly BSA meetings to submit to the Board of Directors.
• Assists the VP Compliance/BSA Officer in other daily operations and may serve as back up when needed.• Assists in the development, coordination, and facilitation of training programs to educate bank personnel compliance requirements and procedures.• Provides feedback to the VP Compliance/BSA Officer in regard to administering the BSA/AML and overall credit union Compliance program to refine as needed.• Performs other related duties as assigned.
Knowledge and Skills:
Experience
One year to three years of similar or related experience.
Education
A high school education or GED.
Interpersonal SkillsWork involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.
Other SkillsBe well versed on PC spreadsheet software. Proficient in Outlook 365 Based Systems.
Physical RequirementsOccasionally lift up to 25 pounds
Work EnvironmentProfessional office
Office and hybrid work from home possible
Triangle Credit Union is proud to be an Affirmative Action/Equal Opportunity Employer. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process or are limited to use the online application process, you may contact the Human Resources Department at 603-889-2470 for other options to apply.Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities