BSA/AML Compliance Specialist
Seattle Credit Union
Region: Seattle, WA
Contact: Phillip Carrillo
Phone: (206) 398-5665
- Job Title: Compliance Specialist
- Department: Risk Management
- Reports to: Manager Enterprise Risk Management
- Employee Type: Regular, FT
- FLSA Status: Exempt
Seattle Credit Union is proud to be an Equal Opportunity Employer/Affirmative Action employer. All qualified applicants, including racial and ethnic minorities, women, veterans, individuals with disabilities are encouraged to apply.
Role at Seattle Credit Union
Seattle Credit Union is committed to finding inclusive and innovative solutions to meet and exceed member needs. To positively impact our communities, we employ technology, financial services and education in helping our members meet their goals. We’re looking for creative, diligent, outward-focused professionals who promote goals of diversity, equity and inclusion.
The Compliance Specialist assists in the oversight of compliance and regulatory functions for all areas of the credit union and produces, updates, and maintains compliance documentation of policies and procedures for Seattle Credit Union.
Essential Job Functions
- Conducts all aspects of monitoring activities relating to the BSA/AML, OFAC and other implementing regulations.
- Assists with the development, management, and implementation of BSA/AML program initiatives company-wide.
- Makes presentations to management explaining results; assist with research of compliance issues, and provide support to all credit union departments and retail branches regarding compliance issues.
- Performs sophisticated compliance research and regulatory analysis, including monitoring and reviewing for compliance in all areas of the Credit Union.
- Assists the VP of Enterprise Risk Management in the research and analysis of the credit union’s compliance posture, including the recommendation and development of internal control systems to minimize any potential exposure to compliance issues. Minimizes audit and examination findings.
- Performs BSA/AML transaction monitoring and reviews to ensure compliance, including investigating and resolving AML alerts, CDD/EDD reviews, filing CTRs and SARs, in a timely manner.
- Performs member due diligence on individual and business account relationships, in accordance with state and federal regulation.
- Maintains, monitors, and reports compliance activities in the credit union’s compliance management system; including the management of user access and settings in ComplySight.
- Handles the credit union’s member complaint database, monitoring and periodic reporting.
- Reviews and approves marketing and advertisement materials.
- Based on the Risk Management calendar of activities, performs periodic compliance testing and reviews in areas such as deposit and lending compliance areas. Performs entry and closing meetings, and discusses results of the review with department management. Drafts and issues report of reviews to management, including the documentation of compliance deficiencies and tracking for resolution.
- Responsible for researching and analyzing new laws, regulations, or amendments to existing regulations and the impact they will have on current operations, new products, and services. Sends business owners the appropriate information for updates and implementation.
- Participates in briefings to management and staff about compliance issues, and respond to compliance questions from branch and department personnel, including compliance training presentations.
- Prepares agenda items and attends the Compliance Management Committee meeting in support of VP and Committee. Assists with the follow up with any outstanding items as discussed in the committee meeting and/or briefings to management.
- Performs all job functions based on the credit union’s brand-values.
- Exercises an appropriate level of courtesy, tact, and professional communications in working with credit union employees, members, and vendors.
- Other duties as assigned.
Qualifications and Experience
- One to Three (1-3)+ years successful experience in banks and credit union’s auditing, risk, and/or compliance functions with compliance knowledge impacting deposit operations and lending such as BSA/AML, OFAC, U.S.A. Patriot Act, Reg B, and Reg Z.
- Bachelor’s degree preferred, i.e., B.A. or B.S.
- Previous completion of Compliance related certifications is preferred, however if not yet attempted or completed will be required within two years of employment.
- Solid understanding of state and federal laws and regulations such as RCW, UCC, Reg D, DD, Reg E, and CC. Knowledge and filing of regulatory reports such as CTRs and SARs are required.
- Strong analytical and problem solving skills in the fields as noted under the essential job functions.
- Experience and solid understanding of compliance software applications.
- Ability to lead multiple projects and assignments, follow tight target date parameters, and coordinate and communicate effectively among widely-dispersed partners. Organized, adaptable, flexible, collaborative approach to getting this done.
- Excellent oral and written communication skills with proven track record to represent the organization’s mission and work in all internal and external forums, including drafting and issuing reports of compliance monitoring and reviews.
- Strong member service orientation and proven skills in being a phenomenal partner.
- Intermediate/Advanced familiarity with Microsoft Word, Excel, Teams, and other Office Suite products.
- Work may be performed in an office setting or remotely.
- May be required to attend off-hours and off-site meetings.
- May perform duties outside of credit union hours to resolve key issues.
- Indirect exposure to robbery.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skills and/or abilities required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.