Description
M-F 8:00-5:00, 40 hours/week
Summary: Travis Credit Union’s (TCU) Compliance Specialist monitors, investigates and conducts risk analysis to determine potential money laundering and other illegal activities that may lead to closing accounts, restricting services or reporting activity to the required regulatory agencies. This position maintains up-to-date knowledge regarding governmental and financial regulations and laws including Office of Foreign Assets Control, Anti-Money Laundering rules, Bank Secrecy Act and USA PATRIOT Act as well as fraud schemes and fraud risk management techniques. The Compliance Specialist acts as a compliance and risk management resource for Credit Union staff, members, and external agencies such as law enforcement, legal and government entities.
Profile:
- Manages account activity monitoring and conducts investigations to determine the nature of member activity such as potential money laundering and other illegal activity.
- Provides information and acts as a resource to all levels of Credit Union staff, law enforcement and members on compliance-related issues.
- Keeps abreast of changes to regulatory requirements, and provides necessary research and information to aid Credit Union staff in the area of compliance.
- Maintains knowledge of current and emerging fraud trends within the financial services industry.
- Conducts risk analysis to determine when to close accounts, restrict services and/or report activity to reporting agencies as appropriate.
Areas of Specialization:
Office of Foreign Assets Control (OFAC) Specialty:
- Conducts reviews of member accounts and transactions in compliance with OFAC requirements and directs the seizure and safekeeping of accounts and assets found in violation of OFAC.
- Researches potential matches to OFAC-restricted entities, applies analysis and various research tools to determine the true nature of potential matches.
- Processes any potential matches from the overnight OFAC run of new members in the anti-money laundering system.
- Downloads the OFAC and other watch lists into the anti-money laundering system as needed and works the potential matches, placing the false positives into the accept list.
- Conducts ongoing monitoring of frozen member assets, including preparing the required annual report to OFAC.
- Responds to inquiries from staff, members and government officials on OFAC compliance.
- Processes the daily IAT files, checks for OFAC matches and launches the IAT posting job.
Skills:
- Thorough knowledge of core systems as well as all credit union products and services, to include trusts, powers of attorney and other legal account structures.
- Ability to professionally communicate and interact with all levels of the Credit Union, including members, staff, and management.
- Ability to professionally work with external agencies such as law enforcement, Adult Protective Services, legal entities, government officials and levying agencies.
- Represent the credit union in a calm and professional manner in adverse situations.
- Excellent problem solver with the ability to handle detailed work.
- Strong project management skills and a sound understanding of compliance-related training requirements. Exhibits a willingness to participate in and lead department projects.
- Strong analytical skills to proactively research and resolve potential problems.
- Excellent written and verbal skills.
- A working knowledge of fraud scams and schemes, and knowledge of risk management techniques.
- Ability to effectively prioritize work assignments for maximum efficiency.
- Ability to analyze work processes and exercise process improvement activities.
- A working knowledge of regulations including but not limited to the Bank Secrecy Act (BSA), Office of Foreign Assets Control (OFAC), Regulation CC, Regulation D, Regulation P and other compliance regulations.
- Exhibits excellent time management skills while continuing to produce quality output.
- Has a full understanding of credit union’s product and service offerings.
Reporting and Experience:
- Reports directly to assigned department management.
- High School Diploma or equivalent.
- Minimum of 2 years of related professional experience.
Working Conditions: Work is generally performed within an office environment, with standard office equipment available and usually sedentary in nature.
Compensation: Base salary starting range: $28.00/hour – $34.59/hour is commensurate with experience.
Our compensation philosophy is based on several factors such as (but not limited to) the scope and responsibilities of the position, the candidate’s work experience, education/training, and key skills.
At Travis Credit Union, our priority is that our employees and their loved ones are provided with a Total Rewards program that insures their health and welfare safety which allows our employees to focus on the financial welfare of our members and the credit unions objectives. As such, Travis Credit Union offers a robust benefits package to our eligible employees, including competitive medical, dental, and vision insurance, mental health offerings, employee performance incentive plan, merit increases, 401(k) program with immediately vested employer match, generous holiday and vacation policy, and extensive TCU specific perks like employee loan and credit card discounts!
Travis Credit Union is an Affirmative Action Employer
EOE/Individual with Disability/Veteran Status