BSA; Bank Secrecy Act Specialist
Listed on 2026-01-20
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Finance & Banking
Regulatory Compliance Specialist, Financial Compliance, Banking Operations, Financial Crime
Role: Responsible for administering the Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) programs, to ensure compliance with federal regulations and credit union policies and procedures. Assist the Risk Manager with BSA audits, exams, or independent reviews to assess the effectiveness of internal controls, efficiency of operations, and accuracy of financial records.
Priority consideration will be given to candidates with BSA/OFAC examination experience.
Essential Functions & Responsibilities- Assist the credit union to comply with the Financial Crimes Enforcement Network (Fin Cen) efforts to combat money laundering (AML) and terrorism financing by adhering to established policies and procedures. Administer the credit union's BSA compliance program, including:
- (a) assess BSA/AML alerts derived from various prevention filters within the ABRIGO platform;
- (b) monitor and/or perform thorough analysis on potential AML suspect accounts and activities;
- (c) maintain accurate documentation and tracking of investigations and decisions;
- (d) understand and stay current on Red Flags and industry trends related to BSA/AML.
- Prepare Suspicious Activity Reports and complete regulatory filings within the 30-day regulatory period. Complete Currency Transaction Reports and regulatory filings within the 15-day regulatory period.
- Periodically evaluate filters within ABRIGO to ensure conformity with credit union's risk appetite.
- Manage the credit union's OFAC compliance program, including:
- (a) process periodic 314(a) and Watch List names through ABRIGO software;
- (b) work Specially Designated Individual list and clear exceptions using Lexis Nexis;
- (c) assist retail personnel with general OFAC compliance.
- Prepare periodic written reports summarizing the credit union's BSA/AML compliance program.
- Perform other duties as assigned by supervisor. Employees shall be trained annually, demonstrate an understanding of, and follow the requirements of the BSA/AML Compliance Program as it specifically relates to their job.
Experience: Three years to five years of similar or related experience.
Education: (1) A minimum of a two-year college degree, four-year college degree preferred, or (2) completion of a specialized certification or licensing, or (3) completion of specialized training courses conducted by vendors, or (4) job-specific skills acquired through an apprenticeship (on-the-job experience) program.
Interpersonal
Skills:
Courtesy, tact, and diplomacy are essential elements of the job. Work involves much personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation.
Other
Skills:
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