The AVP BSA/AML will provide strategic direction and leadership in the areas of the Bank Secrecy Act (BSA) and Anti Money Laundering (AML). The role will have direct oversight of (1) managing all aspects of the BSA/AML compliance program and its implementing regulations, and (2) protecting the credit union's membership and corporate brand and reputation against money launders.
Responsibilities
Bank Secrecy Act
Develops, directs and manages the Bank Secrecy Act/Anti-Money Laundering/OFAC Compliance Program to ensure effective identification, measurement, control and management of the associated relevant compliance and operational risks
Monitor performance of BSA compliance program on a continuing basis, evaluating and communicating the effectiveness of the program; implementing changes as necessary to improve performance
Enhances, develops, implements and administers the BSA/AML/OFAC/USA Patriot Act monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity
Ensures compliance with filing of Currency Transaction Reports, Suspicious Activity Reports (SARs), 314(a) and 314(b)
Prepares and coordinates regulatory and internal audit examinations. Participates in responses to exam and audit concerns and oversees corrective actions of all related compliance deficiencies or violations
Maintains current knowledge of industry and compliance and fraud trends, and changes to laws and regulations pertaining to BSA/AML/OFAC/USA Patriot Act
Prepares the annual BSA Risk Assessment
General
Prepares reports for the Board of Directors on a periodic basis, ensuring the Board is kept fully informed of the BSA program.
Provides leadership, mentoring and coaching support and development of direct and indirect staff
Adhere to Bank Secrecy Act (BSA) regulations and all related Credit Union policies and procedures
Performs other related duties as assigned
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Qualifications
Required
Bachelor's degree, preferably with a concentration in business, accounting, finance or banking, or equivalent education and related experience
Minimum of 10 years of progressive financial institution experience in a BSA, Compliance, Risk, Audit, Quality Assurance, or other role that applies related regulatory knowledge.
Strong understanding of BSA requirements.
Minimum of 7 years of supervisory experience
Strong analytical and quantitative skills, along with highly complex conceptual thinking ability
Ability to lead and manage multiple tasks/deadlines and prioritize respectively, detail oriented
Ability to identify opportunities for improvement, resolve issues, work independently
Ability to interface and communicate both orally and in writing with all levels of staff within the organization
Ability to partner effectively across all levels of the organization and develop positive working relationships and externally to include regulators, law enforcement and vendors
Ability to exercise sound judgment and act independently
Understands the evolving nature of risk, business issues, and impact to the financials
Ability to work effectively on-site in our Herndon, VA headquarters and equally effectively remotely
Ability to work Monday - Friday, 8:00am - 4:30pm
Preferred
Recognized applicable certification or equivalent is a plus
Direct experience implementing and managing BSA programs
EEO Notice
Northwest Federal Credit Union is an Equal Opportunity Employer and will consider all qualified applicants without regard to race, color, age, religion, sex, sexual orientation, gender identity, genetic information, national origin, disability, protected veteran status or any other classification protected by law.
NWFCU complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact the Human Resources Department at 703-709-8900 or HRDepartment@nwfcu.org.
