Valley First Credit Union
1005 West Orangeburg
Modesto, CA 95350
The BSA Specialist will report to the VP of Risk Management and perform risk review and monitoring to ensure that all banking rules, regulations, and statutory requirements are met. This role is responsible for conducting BSA/AML investigations, due diligence, and tracking. Analysis of alerts and incidents generated for unusual activity. The BSA Specialist will assist in preparing, reviewing, and submitting suspicious activity reports (SARs) and currency transaction reports (CTRs). Performing reviews of OFAC and other watchlist alerts, as well as reviews for adherence to Valley First’s CIP Policy. Ensuring MRB program compliance is adhered to, along with onboarding new MRB members. Providing assistance on special projects within the Risk Management Department as needed. This position requires someone that is highly analytical, organized, and detailed.
• Maintains proficient knowledge of BSA and all related laws and regulations.
• Support the Credit Union’s BSA/Anti-Money Laundering Compliance Program.
• Performs daily review, monitoring and analysis of various reports, logs, and transaction data to identify unusual activity, and monitor large currency activity; determines if transactions are suspicious in nature.
• Conducts suspicious activity report investigations of escalated alerts and high-risk member/account reviews.
• Assists with the individual risk assessment and ranking of members through analysis of Customer Due Diligence within BSA/AML software.
• Track and report compliance exceptions for all high-risk (marijuana, hemp/CBD, ancillary) accounts for the Credit Union.
• Assist with reviewing application documents for high-risk accounts and conduct Customer Due Diligence (CDD), including beneficial ownership certification.
• Assist with monthly validations of high-risk account activity. Communicate with members to resolve any compliance exceptions that cannot be independently addressed.
• Assist with the monitoring, reviewing, and submission of applicable BSA reports with FinCEN, including suspicious activity reports (SARs) and currency transaction reports (CTRs) required to comply with Bank Secrecy Act.
• Perform 314a list searches against internal records.
• Examine OFAC alerts to determine if there is a match and take appropriate action.
• Assist with conducting annual Enhanced Due Diligence (EDD) reviews of high-risk businesses. Annual reviews include but are not limited to a review of financial statements, business organization documents, ownership structure, anticipated transaction activity, and a site visit to business locations.
• Assist with developing and maintaining procedures related to BSA/AML/OFAC compliance.
• Perform other risk related duties as assigned.
• High School Diploma or GED
• Maintain required certification(s) in the role of BSA "Officer"
• Product and service knowledge supporting operations, risk, and/or compliance related activities
• Experience within a financial industry as it relates to customer service or operations