The Bank Secrecy Act (BSA)/Anti Money Laundering (AML) Investigator 1 is responsible for providing support to the BSA Compliance Officer in maintaining compliance with BECU’s BSA Program. This includes the review of regulations surrounding USA Patriot Act, Customer Identification Program, OFAC, and all investigations pertaining to potential money laundering. The BSA/AML Investigator will interpret internal and external business issues and recommend solutions and best practices to safeguard the membership against fraudulent or suspicious activity.
- Perform all responsibilities in accordance with BECU Competencies, compliance, regulatory and Information Protection requirements.
- Organize and implement internal examinations, investigations and inspections to ensure documents and accounts are in compliance with current Credit Union policies and procedures.
- Monitor and analyze transactions to ensure appropriateness of activities.
- Assist the Manager, Enhanced Due Diligence to identify high risk members, products and services offered by the Credit Union and implement necessary monitoring controls to address potential money laundering risk.
- Provide guidance and support to business units concerning their role and responsibilities surrounding USA Patriot Act compliance, any potential OFAC hits, 314a lists, and enhanced due diligence regarding customer identification.
- Respond immediately and investigate any potential hits to the OFAC (SDN) list as needed.
- Support the Currency Transaction Reports process and provide guidance as needed.
- Prepare case write up reports and recommendations surrounding all Suspicious Activity Report filings with minimum supervision. Collect supporting documentation including but not limited to account statements, checks, and deposits to substantiate recommendation.
- Conduct a regular audit of industry risks including new business types that may provide a new threat to the credit union and provide recommendations to management regarding mitigation controls.
- Advise Compliance Officer of any relevant changes to member behavior that may support money laundering, or terrorist financing.
- Ensure timely implementation of new procedures in compliance with any change in laws and regulations and enhanced due diligence programs.
- Coordinate regulatory examinations related to BSA/USA Patriot Act, OFAC and related issues.
- Serve as a point of contact for any law enforcement inquiries surrounding SAR filings or general BSA requests as needed.
- Perform additional duties as assigned.
- Bachelor’s degree in related field or equivalent work or educational experience required.
- Minimum five years of experience of BSA/AML, bank audit, compliance or banking operations, and at least three years of experience in Financial Crimes investigation required.
- Formal training in interviewing and interrogation techniques preferred.
- Previous experience or training in criminal investigations preferred.
- Solid understanding of BSA/AML/OFAC related regulations and practical application.
- Excellent organizational, analytical and investigative skills required.
- Ability to solve complex problems; take a broad perspective to identify solutions required.
- Effective skills in interviewing and interrogation, leadership and negotiation required.
- Full time hours required, with additional hours as necessary.