Head of BSA/AML Compliance

POSITION OVERVIEW: The Head of BSA/AML Compliance for the Credit Union will function, as the BSA/AML Officer. He/She will be responsible for overseeing all aspects of the Bank Secrecy Act (BSA), Office of Foreign Assets Control (OFAC) and Anti-Money Laundering (AML) compliance functions performed throughout Municipal Credit Union (MCU).

Specific duties include, but are not limited to, the following:

• Review & enhance the end-to-end BSA/AML program for MCU to meet all regulatory expectations from Federal, State and Local Authorities.

Develop Key Performance Indicators (KPIs), Key Risk Indicators (KRIs) for processing of Transaction Monitoring alters and train, develop and execute team productivity to clear alerts generated.

• Review and approve filing of SARs, Part 300s to the appropriate authorities.

· Setup and manage best in class, Member Identification Program (MIP) due diligence and establish thresholds for Enhanced Due Diligence (EDD) for adequate KYC coverage in tune with the size, complexity and profile of the CU and its member population.

· Manage and enhance automated solutions to ensure that MCU complies with its detection, investigation and reporting activities under BSA, AML, OFAC, Fin CEN, Patriot Act, Sanctions Screening, Sec 314 (a), DFS part 504 requirements.

• Develop collaborative relationships with all business teams, corporate functions to educate the staff about the BSA/AML compliance areas as well as develop partnerships across functions to ensure adequate and appropriate information sharing.

• Develop, Review and implement mandatory BSA/AML training to all staff members.

• Review and enhance the periodic reporting for BSA/AML at the institution to the Senior Management Team, the Board of Directors and external governmental regulators.

• On an annual basis, train the Senior Management Team & the Board of Directors on their responsibilities for the BSA/AML risk of the organization.

• Ensure appropriate documentation is maintained and available for internal/external audits and legal requests.

• Review, Supervise and enhance the work output around drafting of SARs, closing false positives, review of cases, insider activities and other documents created by the BSA/AML team.

• Perform typical administrative functions as the Team Supervisor which includes (but not limited to) setting goals, performance reviews, constructive feedback, employee & team challenges, budgeting and cost control for the BSA/AML team.

• Participate in the organization wide activities like Business Continuity Plan Tests, Audits, and Presentations to external authorities, advisory services for other departments within MCU.

• Lead by example, including maintaining high ethics and practicing strong leadership skills.

• Perform such other duties as directed by your immediate Supervisor.

Responsibilities:

• Bachelor’s Degree in Law, Business or related function. Law Degree (JD) or Masters in Law preferred.

• CAMS and CFE certifications a plus.

• A minimum of ten years of related experience in a financial institution in the BSA/AML area.

• Must have a solid understanding of BSA, AML, OFAC, Fin CEN, Patriot Act, Sanctions Screening, Sec 314 (a), and DFS part 504 requirements.

• Excellent analytical skills.

• Ability to proactively establish and build relationships internally and externally.

• Strong leadership skills.

• Strong communications skills, both verbal and written.

• Ability to conduct thorough research.

• Ability to exercise independent judgment.

• Ability to exercise discretion in dealing with sensitive and significant matters.

• Ability to interpret and understand laws and regulations.

• Ability to self-manage and self-direct.

• Resourcefulness and great time management skills.

• Ability and desire to develop staff.

• Highly ethical.

Municipal Credit Union (MCU) is an Equal Opportunity Employer.

Municipal Credit Union provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.