Bank Secrecy Act Specialist
Company: Velocity Credit Union
Posted on: July 15, 2019
Job Location Main - Austin, TX Bank Secrecy Act Specialist We're
looking for dynamic, extraordinary people with a passion to provide
outstanding service and financial solutions to our members. If you
enjoy working in the service industry, offering problem-solving
solutions while building relationships that create long-lasting
connections, this may be the job for you! Essential
- Knowledgeable of Bank Secrecy Act and Anti-Money Laundering
laws and regulations.
- Collect appropriate documentation to evaluate and recommend the
submission of suspicious activity reports (SARs) and/or bank
- Run queries and analyze transaction data against customer
- Performing enhanced due diligence on high-risk customers as
identified through the credit union's enterprise fraud detection
and BSA/AML software.
- Conducts periodic/recurring reviews of high-risk accounts to
evaluate risk for the credit union.
- Audit staff CDD/EDD forms for accuracy.
- Utilize enterprise software to monitor the credit union
membership and its affiliates against OFAC Watchlists and any other
related lists such as FinCEN 314(a).
- Work closely with the Fraud team and BSA Officer to make
recommendations, identify trends, and evaluate financial activity
risks. Your day-to-day: The BSA Specialist is responsible for
monitoring and assessing adherence to state and federal
regulations, focusing on the Bank Secrecy Act (BSA), USA Patriot
Act, Red Flags, Anti Money Laundering (AML), the Office of Foreign
Asset Control (OFAC) and Customer Identification Program (CIP).
Identify unusual customer transaction patterns indicative of
suspicious activity; interact with BSA/AML systems to document
alerts and investigations. Investigate suspicious activity and be
responsible for the preparation and filing of Currency Transaction
Reports and well-written Suspicious Activity Reports within
regulatory timelines. Additionally, this position assists with
developing, implementing and updating policies and procedures to
ensure compliance with laws and regulations. Why Velocity? At
Velocity, our mission is to provide our members personalized
service and unique value as their local banking alternative. We
take pride in our work culture, exemplify our core values daily,
and stand by the credit union philosophy of "People Helping People"
to continue to drive our vision of making a positive impact on our
members and their financial goals. This position offers competitive
pay, great benefits including medical/dental/vision, 401(k) with
matching, flexible spending accounts, a fun working environment and
culture, generous paid time off, company-paid life insurance and
disability, referral bonuses, paid holidays, discounted gym
membership, tuition reimbursement, training and ongoing coaching,
opportunities for career growth, employee reward and recognition
system, employee and family events, and more! Velocity provides
equal employment opportunities (EEO) to all employees and
applicants for employment without regard to race, color, religion,
gender, genetics, sexual orientation, national origin, age
disability, or status as a covered veteran in accordance with
applicable federal, state and local laws.
Keywords: Velocity Credit Union, Austin , Bank Secrecy Act Specialist, Other , Austin, Texas
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