Corporate Compliance - Quality Control Analyst I

Recruiter
Golden 1 Credit Union
Location
Sacramento
Salary
Competitive
Posted
02 May 2022
Closes
30 May 2022
Employer Sector
Banking & Finance - Retail
Contract Type
Permanent
Hours
Full Time
Travel
None

GENERAL DESCRIPTION:

The Quality Control (QC) Analyst I will support various BSA/AML & OFAC QC processes, including transaction monitoring alert/case investigations, Enhanced Due Diligence (EDD) reviews of high-risk customers, information sharing and law enforcement requests, and Suspicious Activity Report (SAR) filings. This person will collaborate with the BSA Supervisor, BSA/AML & OFAC Manager and other team Leads to ensure that the quality of investigations and analysis conducted within the BSA Compliance Team consistently meets or exceeds a high standard, supporting the overall BSA/AML program mission and goals.


TASKS, DUTIES, FUNCTIONS:

1. Performs daily reviews of finished work products related to Verafin FRAML functions (alert assessments, transaction monitoring), AML case investigations and SAR forms to ensure adherence to internal policies and procedures.

2. Utilizes understanding of BSA/AML regulatory rules, laws, and regulations and industry standards and practices to identify potential issues related to quality of finished work products.

3. Perform routine monitoring to determine the extent of compliance with regulations, laws, policies, and procedures. Communicate the results of monitoring to department managers and senior management, follows-up to ensure issues are addressed, and escalates issues.

4. Maintain proficient knowledge of the rules and regulations, including but not limited to, the Bank Secrecy Act (BSA), USA PATRIOT Act, and OFAC.

5. Provide input of monthly reports to keep management informed of department activities, such as: QC score analysis, QC volume tracking, as well as other reports as assigned.

6. Complete reviews of various reports, applications, and platforms utilized by BSA team members.

7. Identify key issues and gaps in processes that impact quality, accuracy, and compliance and make recommendations for enhancement.

8. Document findings and effectively communicate areas of needed improvement with BSA Management.

9. Ensure timely and accurate completion of all QC reviews of alerts, cases to include SARs and No SARs for timely filing

10. Identify and assist in the development of procedures or controls to mitigate risks associated with quality.

11. Provide process and procedure training to SAR Investigations team new hires, highlighting the standards required for each workflow.

12. Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti-money laundering laws appropriate to the position.

13. Perform various other duties and projects as assigned.


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

1. Effective oral and written communication skills.

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: Successful completion of high school curriculum, and Associate degree preferred, but not required.

2. EXPERIENCE: Minimum of two years of banking experience in BSA/AML function, compliance, bank operations, fraud monitoring, or investigations.

3. KNOWLEDGE/SKILLS:

• Worked in other Financial Institutions, with prior experience in BSA/AML regulations and Financial Crime Compliance

• 2+ years of prior quality assurance/control/review experience, preferably in the financial crimes space

• Experience reviewing alerts, conducting case investigations, and drafting/filing Suspicious Activity Reports (SARs)

• Ability to get work done, knowing when to use judgement to make risk-based decisions with current (and sometimes limited) information

• Ability to prioritize workflows, ensure deadlines are met

• Excellent written and verbal communication skills, interpersonal and collaborative skills, and exceptional attention to detail


PHYSICAL REQUIREMENTS:

1. This is a flex/hybrid position with the primary work location being headquarters.

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 year of hire.


THIS JOB DESCRIPTION IN NO WAY STATES OR IMPLIES THAT THESE ARE THE ONLY DUTIES TO BE PERFORMED BY THIS EMPLOYEE. HE OR SHE WILL BE REQUIRED TO FOLLOW OTHER INSTRUCTIONS AND TO PERFORM OTHER DUTIES REQUESTED BY HIS OR HER SUPERVISOR THAT ARE WITHIN HIS / HER KNOWLEDGE, SKILL AND ABILITY AS WELL AS HIS / HER MENTAL AND PHYSICAL ABILITIES.