Job ID: 14602
Company: Live Life Federal Credit Union
Location: Fraser, MI 48026
Salary: $52,812 - $66,952 a year
Number of Vacancy: 1
Employment Type: Contractor
Posted: 30+ days ago
Deadline: 01 Jan, 2023
Job Description:
- Acceptance of Cannabis Banking Compliance with Fincen 2014 MRB Guidance and willingness to administer a BSA Program that adheres to this Guidance and others to satisfy NCUA Examinations
- Managing a team of Compliance & Risk Analysts.
- Reviews, analyzes, and interprets new and pending credit union regulations, as required.
- Notifies all affected parties of changes in regulations and provides training to all employees, as required.
- Recommends and assists in implementing changes in credit union policy and procedures to meet compliance regulations.
- Tests lending system programs for APR tolerance and tests LOS on compliance changes with templates.
- Monitors, maintains, and tests general system installations and upgrades to ensure forms and data adhere to compliance with credit union policy and procedures.
- Supervises, trains and evaluates performance of staff, including conducting performance appraisals.
- Prepares monthly and quarterly compliance reports for management and the Board summarizing compliance activity.
- Serves as a liasion to external auditors and examiners, coordinating preparation for audits and exams.
- Creates and maintains compliance risk assessment.
- Administering and maintaining the BSA/AML and OFAC compliance program in accordance with the industry best practices, regulatory guidance, and requirements.
- Provide BSA and Patriot Act compliance support, assist with review of compliance-related procedures and policies, implement new or revised federal regulations and prepare respective status reports.
- Providing day to day BSA compliance assistance, support and information to all departments/functional units within the Credit Union.
- Investigating and identifying cases for possible Suspicious Activity Report ("SAR") filings.
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Job Requirements:
Filing all required regulatory reports and documents with the appropriate federal agencies and responding quickly to all lawful requests for information regarding suspicious activity; including the filing of Currency Transaction Reports ("CTRs") and SARs to FinCEN.
- Acting as liaison/contact for audits of the BSA/AML/OFAC compliance programs, as applicable.
- Assisting with the administration of BSA/AML/OFAC related training programs to employees, management, as well as Board of Directors.
- Establishes and oversees the Credit Union’s Know-Your-Customer/Member Identification Program (KYC/MIP) and related Member due diligence and enhanced due diligence processes. Performs ongoing enhanced due diligence monitoring of Member relationships including transactional analysis for Members that pose a higher risk to the Credit Union.
- Conducts suspicious activity reviews, reconciliation, and reporting for any assigned cases or referrals received from branch staff. These reviews require the use of various tools including Verafin, internet sites, and other applicable resources as they become available.
- Ensures management and the Board of Directors are informed of changes to laws and regulations, as well as compliance activities including an evaluation of its relative risk exposure related to BSA compliance. Prepares various reports for Senior Management and/or the Board of Directors.
- Develops and monitors fraud risk strategies and processes for deposit accounts for the purpose of fraud prevention, while ensuring an exceptional Member experience, every time.
- Provides performance tracking of fraud strategies and fraud prevention tools and processes. Provides tracking of fraud losses through all channels.
- Conducts ongoing analyses to identify the root cause of fraud trends and propose potential solutions.
- Performs other duties as assigned
- CUCE, BSACS, and/or