Corporate Compliance - BSA SAR Investigator I

JOB TITLE: BSA SAR Investigator I
DEPARTMENT: Corporate Compliance
STATUS: Non-Exempt
JOB CODE: 10129

PAY SCALE: $30.31 - $31.00 Hourly

GENERAL DESCRIPTION:

The BSA SAR Investigator I is responsible for performing independent reviews and analysis of possible suspicious activity to ensure compliance with the Bank Secrecy Act (BSA) and the USA PATRIOT Act. This role provides research and evaluation of anti-money laundering (AML) alerts and accurately documents analysis and findings in the Golden1 case management system. Additionally, you may complete defined tasks to support the creation of Suspicious Activity Reports (SAR) and other relevant documentation related to non-SAR filing decisions. You will recommend a course of action for most events, while occasionally seeking guidance from a higher-level investigator or Supervisor in unusual or uncommon situations. This role specializes in the review of complex and high-risk functions within the department to ensure regulatory compliance with BSA/AML and OFAC, and all investigations pertaining to potential money laundering, terrorist financing, and cybercrime. The BSA SAR Investigator I is responsible for providing support to the BSA Supervisor in maintaining Compliance with Golden1 Credit Union's BSA Program.

TASKS, DUTIES, FUNCTIONS:

1. Performs AML alert and case review, including research, to decide whether suspicious activity exists. Ensures alert and case determinations are appropriate, fully supported, and clearly documented.
2. Execute investigations based on Client On-boarding; Maintenance; UAR's (Unusual Activity Report); Government sources and other control areas.
3. Analyze CTR's and other financial transactions to monitor/detect suspicious activity.
4. Responsible for the preparation and communication of SAR reports as it relates to transaction details, analysis, findings, and supporting documentation. Responsible for filing SARs and recommend relationship retention or termination, and track account closures as required.
5. Ensure accuracy of SARs by utilizing a risk-based approach for each transaction.
6. Notify cross-functional departments of any suspicious activity to protect the integrity of the business and prevent further egregious behavior.
7. Responsible for performing in-depth investigative research related to SAR filings on members, non-members or connected parties by utilizing a range of internal data (e.g., transaction activity, KYC, etc.) and external data (e.g., internet, media, legal, corporate, and other publicly available records, and databases).
8. Assist with the data collection, research, investigation, and timely completion of 314(b) requests for information, and law enforcement requests.
9. Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including OFAC Sanctions, Executive Orders, FACTA, Reg. CC, Reg. E, UCC, Check 21, Bank Secrecy Act, Anti-Money Laundering laws, Visa and other card related regulations appropriate to the role.
10. Comply with all established internal audit, security and Credit Union rules, regulations, and departmental procedures. Maintain knowledge by keeping updated with required regulations or procedures through emails, publications, online resources, and procedure changes.
11. Maintain confidentiality of documentation and communications to and from members, other institutions, law enforcement and vendors.
12. Review, research, and disposition FRAML, OFAC and FinCEN alerts, accurately and within specified timeframes.
13. Work detailed investigations from start to finish. Assists with other investigative efforts within the department, as well as identify and report trends.
14. Act as a liaison with other local and federal law enforcement, and other financial institutions.

PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASKS:

1. Effective oral and written communication skills required to assist other staff, constructively follow-up on member inquiries, communicate clearly with management, and perform other related tasks.
2. Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine, and telephone.

ORGANIZATIONAL CONTACTS & RELATIONSHIPS:

1. INTERNAL: All business units and departments as needed.
2. EXTERNAL: Federal, state, and local law enforcement, vendors and business partners, and industry peers as needed.

QUALIFICATIONS:

1. EDUCATION: At a minimum Associates degree or combination of professional experience and education.
2. EXPERIENCE: 1 - 4 years of experience in a financial institution with job specific work experience in AML Knowledgeable of the laws applicable to money laundering, including the Bank Secrecy Act, USA PATRIOT Act, US Treasury AML guidelines, OFAC requirements, and Suspicious Activity Reporting requirements. Experience in investigating customer transactions and reviewing customer information. Experience with creating SARs.
3. KNOWLEDGE/SKILLS:

• Written and verbal communication skills, along with strong interpersonal skills to effectively communicate with internal and external stakeholders.
• Knowledge of Credit Union products, services, policies & procedures.
• Operating knowledge of AML/BSA, OFAC and Federal/State Regulations.
• Good organizational and analytical skills.
• Strong attention to detail in working and investigating files with emphasis on deadlines.
• Strong PC skills - Windows and MS Office Suite.
• Knowledge to operate electronic banking equipment.
• Must be self-motivated and capable of exercising sound judgement, working both independently as well as in a team environment.

PHYSICAL REQUIREMENTS:

1. Must reside within 50 miles of the headquarters location.
2. Prolonged sitting throughout the workday with occasional mobility required.
3. Corrected vision within the normal range.
4. Hearing within normal range. A device to enhance hearing will be provided if needed.
5. Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.

LICENSES/CERTIFICATIONS:

Preferred - At least one of the following certifications: Certified Anti-Money Laundering Specialist (CAMS), Professional Certified Investigator (PCI), Certified Fraud Investigator (CFI), Certified Financial Crimes Investigator (CFCI), or Certified Fraud Examiner (CFE). Otherwise, must be obtained within the first three years of hire.

REV. 5.15.2024

Other details

• Job Family Non-Manager
• Job Function Non-Manager
• Pay Type Hourly
• Employment Indicator Remote
• Min Hiring Rate $30.31
• Max Hiring Rate $31.00

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