Senior BSA Investigator

About MCU

At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.

To help hard-working New Yorkers build better tomorrows

Be New York's most loved financial institution by helping our members build their best financial futures

The BSA Senior Investigator is responsible for executing on all assigned aspects of the Bank Secrecy Act (BSA), Office of Foreign Assets Control (OFAC) and Anti-Money Laundering (AML) compliance functions performed by the BSA Department and implemented throughout Municipal Credit Union (MCU).

Specific duties include, but are not limited to, the following:

Transaction Monitoring, Investigations and Case Management

• Conduct investigations utilizing Member/Customer Due Diligence (MDD) information, transactional data, relevant documentation and internal/external research to determine if the escalated activity is suspicious and requires a Suspicious Activity Report (SAR) filing. Activities may include, but are not limited to the following:
• Money laundering
• Terrorist financing
• Structuring
• Suspicious peer-to-peer activity
• Money mule activity
• Human smuggling
• Human trafficking
• Illicit gaming activities
• Unregistered money service business (MSB) transactions
• Trade based money laundering
• Conduct 90-day SAR reviews to determine if suspicious activity is continuing and a 90-day SARs need to be filed in accordance with FinCEN requirements and department standards
• Responsible for documentation supporting case determination and SAR decision.
• Conducts sensitive investigations into employee and related accounts when red flags are raised.
• Submit Request for Information (RFI) to appropriate branch or department to obtain updated MDD information or explanation of transactions.

Suspicious Activity Reporting (SAR)

• Complete SARs to include a comprehensive narrative fully describing the suspicious transactions in accordance with FinCEN requirements and department standards.
• Ensure all SAR steps and fields are completed accurately and consistent with reported activity in SAR narrative.
• Ensure SARs and Continuing Suspicious Activity Reports are filed within department guidelines and consistent with MCU’s documentation and quality standards.

Enhanced Due Diligence (EDD)

• Conduct Enhanced Due Diligence (EDD) investigations on MCU’s higher risk Members.
• Recommendation of Member expulsion as necessary if high risk Member behavior exceeds MCUs risk tolerance or violates Member Code of Conduct.

Audits and Examinations

• Ensure appropriate documentation is maintained and available for internal/external audits and legal requests for all work performed

Training

• Complete annual BSA/AML/OFAC training requirements.
• Keep abreast of emerging AML, fraud, terrorist financing and other financial crime typologies.
• Complete all MCU compliance and other assigned training requirements timely.

BSA Program Support

• Executes duties with respect to MCU’s BSA/AML and OFAC program so that they operate in accordance with all applicable laws, rules and regulations.

Leadership and Team Support

• Provides support, guidance and training to Investigators and Operation Specialists.
• Assist in training MCU Employees on BSA/AML/OFAC rules, regulations and requirements.

BSA Department Operations Support

• Ability to perform all responsibilities of the Investigator and BSA Operations Specialist roles, as needed.
• Perform other related duties as requested and special projects as assigned.

• Highly ethical.
• Bachelor’s or Associate’s Degree in Criminal Justice, Business, Accounting or related field; and or work experience required.
• Minimum of seven years’ investigative experience in a financial institution or in an investigatory/law enforcement position.
• Subject Matter Expert (SME) in BSA, USA PATRIOT Act, OFAC and…