Certified Anti-Money Laundering Specialist (CAMS)
This position oversees and directs all activities and responsibilities assigned for the management and administration of the BSA Program. The position reports to the VP - Corporate Compliance who serves as the Board-designated BSA/OFAC Officer. The Manager BSA/AML & OFAC position will coordinate all BSA/AML and OFAC activities institution wide including, exam management, risk assessments, BSA reporting and record keeping, CIP/CDD/EDD program functions, and the continued development of maintenance of BSA and OFAC training programs. The BSA / AML Manager will work closely with other risk and control functions, as well as senior and executive leadership, to ensure accurate and ongoing reporting and compliance with BSA/AML and OFAC regulations in accordance with law, regulation, and supervisory requirements. Additionally, this position will act as a liaison with Credit Union members, internal departments, and local and federal law enforcement agencies to provide clarification, guidance and assistance on all BSA/AML and OFAC related issues. This position will also develop highly skilled staff to effectively protect the assets and reputation of the credit union, and analyze BSA/AML software program output and initiate appropriate actions for identified suspicious transactions. The BSA / AML Manager will also recommend, develop, and present appropriate BSA/AML policies and procedures to ensure compliance and manage corporate BSA/AML risk.
The position participates in cross-functional relationships within the Credit Union in order to provide optimum internal support, including with fraud protection and similar functional areas, and is a key participant in achievement of Golden 1’s goals and objectives.
EDUCATION: Bachelor's Degree and/or relevant advanced degree strongly preferred. CAMS or comparable
advanced BSA/AML & OFAC training and/or certification required.
EXPERIENCE: Minimum of 7 years of progressive management, compliance and/or law enforcement or other compliance work within a financial institution, or equivalent combination of education and experience emphasizing BSA/AML & OFAC management and experience. Experience working or consulting with large ($10B+) financial services companies preferred. Track record as someone with business experience in addition to being grounded in law and compliance. Demonstrated competency in and passion for compliance activities. Experience with compliance management and transaction monitoring system applications preferred.
KNOWLEDGE/SKILLS: Knowledgeable of compliance laws, rules, regulations, and procedures. Sound knowledge of principles of business. Strong ability to communicate at a management level (oral and written) and work well with others in a dynamic team environment. Strong leadership and people management skills. Demonstrated ability to utilize a consultative approach with Senior and Executive Management. Ability to interpret broad range of complex regulations and devise logical solutions. Ability to think creatively without any precedents. Must be able to influence and skillfully manage change in the organization. Must possess expert knowledge of deposit, lending and safety and soundness regulation impacting the Financial Services industry. Possess strong analytical skills, negotiation abilities, and industry contacts.
TASKS, DUTIES, FUNCTIONS:
Oversee and continue to evolve the Credit Union’s BSA/AML programs, which includes oversight of the applicable regulations, policies, procedures, training, and monitoring to support ongoing compliance efforts.
Responsible in assisting in the preparation, ongoing review and updates to the BSA/AML and OFAC Risk Assessments for the Credit Union and meet with regulators assisting with questions related to BSA / AML, OFAC, risk assessments, and other regulatory items.
Responsible for support of the enterprise BSA/AML compliance tool and overall management of information reporting strategy for area of oversight.
Prepare and oversee monthly Committee/Board meeting packet information ensuring rotational coverage and discussion of key BSA/AML and OFAC topics related to area of oversight
Manage the regulatory examination process and presence across all business lines and functions specific to the BSA/AML and OFAC programs.
Provide leadership and supervision to BSA/AML management and staff. Train, develop, and evaluate staff performance.
Maintain a thorough understanding of state and federal laws and regulations, and interpretations related to Credit Union compliance including Bank Secrecy Act and Anti-money Laundering laws.
Foster a positive and engaging work environment for each team member by promoting skill development, coaching for improvement and growth, inspiring others through your words and actions, ensuring positive employee morale throughout Golden 1, and embracing our mission, vision, and core values.
Monitor tasks necessary to ensure that changes are initiated, appropriate action is taken to policies and procedures, and that implementation has been completed by the impacted departments related to area of oversight.
Serve as a liaison between senior management and appropriate third party compliance support to facilitate the research and review or regulatory compliance issues for new and existing products, services and programs. Communicate any regulatory compliance deficiencies or potential problems, and provide guidance in the development of alternative solutions or implementation of correction action.
Provide guidance to the BSA supervisors to review Branch and Back Office Unusual Activity Reports (UARs) and Currency Transaction Reports (CTRs) for accuracy and completeness. Process requests from government agencies inquiring about previously submitted SARs/CTRs.
Act as the primary liaison with law enforcement and attorneys on issues, as appropriate. Prepare, gather and coordinate information and documentation required by regulators and attorneys for compliance related issues.
Perform other duties as assigned.
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