BSA Fraud Specialist

Provide support to retail operations for deposit related products/services, provide guidance on check holds, assist retail with BSA/Fraud related issues and ensure compliance with all applicable state and federal regulations, credit union policies and procedures. Be a subject matter expert for all wire, fiduciary and deposit related products and services, which includes the following existing functions: Wires, Certificates, Database Cleanup and Maintenance, Daily Mail, Deposit Account research, Deposit Corrections/Adjustments and Closing Account Management. Responsible for BSA, AML, OFAC, FinCEN, CIP, and USA Patriot compliance; Fraud monitoring, detection, and investigation.

Major Duties and Responsibilities:

- FRAUD & LOSS MITIGATION:

- Mitigate fraud losses through fraud prevention, early detection, fraud investigations, and recovery

- Stay informed of best practices for fraud prevention.

- React promptly to potential fraud activity by reviewing returned checks processed by Deposit Operations. Upon receipt of REPGEN-generated email alerts in the fraud inbox, assess account activity and determine whether account restrictions are necessary.

- Track Losses and Trends

- Utilize internal/external resources to detect, investigate and analyze potential fraud including shared branch reports.

- Conduct suspicious activities investigations.

- Assist retail with questions, provide guidance on check holds, and fraud related issues.

- BSA/AML/Fraud Monitoring Software:

- Ensure clean audits and exams.

- Use tools to identify high risk accounts, early detection of fraud, kiting and money laundering suspects.

- Ensure Patriot Officer Alerts are completed daily.

- Regularly run Office of Foreign Asset Control (OFAC) and 314a checks; research all matches.

- Ensure OFAC is run on all required transactions and names including cashier’s checks, on us items etc.

- Regularly monitor Suspicious Activity Reporting (SARS); prepare and ensure SAR descriptions and details meet standards.

- Collaborate on all SAR decisions for reporting to FinCEN and the Board of Directors.

- Prepare and ensure all Currency Transaction Reports (CTRs) are generated, compliant and timely.

- Assists Auditors and Examiners during all periodic BSA/AML/FRAUD related compliance.

- Assist retail staff with questions and provide guidance on BSA related issues.

- Maintain compliance with CDD/EDD.

- Subject matter expert for Patriot Officer and Alloy.

- OTHER DUTIES AS ASSIGNED:

- Respond to subpoenas by gathering evidence as required.

- All other projects related to BSA/Compliance assigned individually each year.

- Attend weekly/Monthly staff meetings, completion of annual Individual Learning Plan (ILP) and required training within prescribed time.

- Perform other job-related duties as assigned.