BSA/AML Specialist

Benefits

Additional Information

At VyStar, we offer competitive pay, an excellent benefit package that includes a 401(k) Plan, an extensive paid technical and on-the-job training program, and tuition reimbursement--available to all full and part time employees. Part time positions start at a minimum of 30 hours per week. We encourage you to become a part of VyStar Credit Union's family of employees. BSA/AML Specialist ACCOUNTABILITY STATEMENT Assist the BSA/AML Manager in utilizing the BSA/AML risk mitigation framework that complements the overall Enterprise Risk Management (ERM) function, which is designed to identify, analyze, respond to and monitor internal and external BSA/AML risks across various product and delivery channels and to assist VyStar in achieving its 1) mission to provide quality service and maintain fiscal soundness and 2) strategic goals and objectives. Support the BSA/AML Manager by reviewing and investigating BSA/AML requirements related to FinCEN's Customer Identification Program (CIP), Beneficial Ownership Information, Currency Transaction Reports (CTRs), and/or monitoring for potentially unusual/suspicious member behavior and transactional activity and complete required Federal and State regulatory processing and reporting requirements. Recommend procedural and/or operational changes as well as any enhancements to the BSA/AML software to increase efficiency, ensure compliance, and to support sound risk-based decision-making processes. The BSA/AML Specialist reports directly to the BSA/AML Manager to support strong communication reporting channels and to recognize the key importance of effective BSA/AML program for VyStar and in support of the overall ERM function. ESSENTIAL JOB FUNCTIONS: BSA/AML Risk Mitigation Framework: Support the BSA/AML Manager in developing and maintaining BSA/AML risk mitigation framework. Maintain effective communications, ensure efficient workflow processing and work with others internally and externally to VyStar. BSA/AML Risk Management: Responsible for the continuous monitoring of activity for specific trends and patterns of activity using the BSA/AML software, which may present an increased risk for fraud losses and/or money laundering activities within VyStar. Risk Intelligent Culture: Assist the VP of BSA Risk Management and BSA/AML Manager in developing, promoting, and implementing a risk intelligent culture by maintaining strong collaborative relationships across the organization. Help to create and foster an increased understanding and awareness of business line managers' responsibility for risk assessment and management activities in their daily decisions making processes and procedural guidance as it relates specifically to BSA/AML risks. In concert with the ERM function & VP of BSA Risk Management & BSA/AML Manager, provide advice and consult with line managers to support more information risk-based thinking and decision-making skills. BSA/AML Risk Management Function: Establish strong collaboration and sharing of expertise/knowledge between team members and the other areas under ERM and in conjunction with Internal Audit's assurance services. Specifically, responsible for the following day-to-day functions and activities: Responsible for reviewing account opening documentation and information gathered at account opening, for both individuals and business entities to independently determine if all aspects of the CIP (Customer Information Program) are being followed. Detect exceptions in the account opening process and documentation and be able to categorize them as a Procedure Error or a violation of CIP. Regular monitoring, tracking, and reporting of exceptions to VyStar's Customer Identification Program (CIP) which are identified during the account opening process. Ensures all required documentation related to entities that have been identified as needing additional due diligence items has been obtained, is completed accurately, and is retained in the BSA/AML software. Review monthly CDD (Customer Due Diligence) alerts to confirm all higher risk entities have been appropriately identified with in the BSA/AML software. Responsible for performing the Currency Transaction Report (CTR) reporting and quality control processes, with strict adherence to accuracy, completeness, and timeliness of submission. Regular monitoring of the CTR dashboard in the BSA/AML software to ensure all submissions are accepted by FinCEN. Ensures adequate documentation exists and is retained in the BSA/AML software to support CTR filings. Be able to understand the qualifications for CTR Exemptions, identify and recommend members eligible for exemptions from CTR filing, and complete initial and annual reviews on new, and existing CTR Exempt members. Research, investigate, and process BSA/AML alerts identifying potentially suspicious activity from the daily/weekly alert queues in a timely manner, in adherence with all applicable regulations and procedures. Responsible for the review of the Sa