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ABOUT REDWOOD CREDIT UNION (RCU):
At Redwood Credit Union, our mission is to passionately serve the best interests of our Members and communities. Since 1950, we have been dedicated to supporting the financial well-being of our Members through better rates, low or no fees, and best-in-class customer service. Our purpose is to inspire hope and elevate the financial well-being of our communities one person at a time, through good times and bad.
As a not-for-profit financial institution, we are committed to a people-first approach, which is reflected not only in how we serve our Members, but also in how we treat our employees. Our leadership team is deeply focused on fostering a culture of heart and empathy, integrity, passion, inclusion, meaningful relationships, excellence, and ensuring financial well-being for all.
Why work for Redwood Credit Union?
• 32nd largest credit union in the U.S. and the largest financial institution based in the North Bay
• Awarded a 5-Star Rating based on 6/30/24 financial data by Bauer Financial
• Recognized by Newsweek as one of "America's Best Credit Unions 2024"
• Recognized by Forbes as one of “America’s Best Small Employers 2023"
• Voted Best Places to Work in the North Bay 19 years in a row
• World-class Employee Engagement scores
• Rated Superior in Service by more than 90% of Members, surveyed by SF Gate
• Industry leading Net Promoter Scores across the U.S.
Join us and discover why you'll love working at Redwood Credit Union!
Redwood Credit Union is looking for a Bank Secrecy Act Manager who will be responsible for providing leadership and guidance to maintain the BSA operations of the Compliance department. Assist Redwood Credit Union’s BSA Officer in managing the risks and requirements of Redwood Credit Union’s Bank Secrecy & Anti-Money Laundering Program. The Bank Secrecy Act Manager is responsible for day-to-day execution of BSA/AML functions.
Essential Functions
Department Leadership
• Aid the BSA Officer in developing and maintaining the Bank Secrecy Act and Anti-Money Laundering Program, OFAC program, and supporting risk assessments.
• Establish long range strategic and short-term goals to maximize department effectiveness and mitigate financial crimes risk.
• Recruit, select and supervise staff, including expectations, coaching/development, resources, workflow, performance feedback and accountability.
• Provide appropriate leadership and mentoring to department team members to achieve department goals and objectives and support team member career development.
• Design and implement operational changes to increase efficiency of products, Bank Secrecy Act tools, and productivity tracking.
• Ensure Bank Secrecy Act tools and other systems are compliant with applicable regulations, laws, and policies.
• Oversee activities of all department team members. Manage, plan, and authorize overtime and schedule changes as needed to ensure coverage for optimum Member and team member service.
• Assist in the preparation and management of the department budget, and ensure projections are met.
• Successfully cultivate and maintain key relationships with stakeholder departments within the Credit Union to foster a culture of compliance to ensure the BSA program is working as designed and adjustments are made to correct deficiencies.
• Review and submit a comprehensive month end Bank Secrecy Act report.
• Provide excellent service and flexibility when assisting other departments and branches.
• Responsible for updating and maintaining the BSA Procedures Manual.
• Manage Verafin model and workflows with a focus on effectiveness and efficiency, without compromising service. Develop recommendation for model enhancements for consideration by the BSA Officer.
• Act as a point of contact with regulators and auditors during exams and inquiries, respond to regulatory findings and implement corrective action plans as needed.
Operations Support
• Serve as a subject matter expert and collaborate with internal and external stakeholders to uphold the integrity of the BSA/AML and OFAC programs and integrate compliance requirements into operational processes.
• Research, develop, test, and implement special projects as assigned.
• Establish and maintain team member training programs.
• Oversee BSA filings (CTRs, SARs, etc.) to ensure accuracy and compliance with BSA requirements and regulatory deadlines.
• Oversee processing of AML alerts and documentation of actions including non-filing and filing of SARs where needed, ensuring accuracy and compliance with BSA requirements and regulatory guidelines.
• Establish protocols for taking action on escalated alerts of potential suspicious activity produced or referred by other areas of the Credit Union and determine appropriate course of action.
• Oversee program of enhanced due diligence reviews of complex, high risk Members. Prepare recommendations for Senior Leadership on disposition of high-risk Members.
• Analyze Member and transactional data to identify potentially suspicious activity, exercise solid judgment on examining information, and document suspicious activity, behaviors and/or patterns.
• Serve as a resource for fraud or other suspicious activities.
• Ensure Watch List information is properly maintained and updated, review and respond to concerns about OFAC, SDN, or other Watch List alerts, and take mandated action, as necessary.
• Review and analyze anti-money laundering regulatory and legal changes affecting financial institutions to determine applicability and impact to RCU.
• Develop and implement business process improvements.
• Evaluate and adjust scoring of AML software to
Other Functions
• Provide monthly status reports and BSA statistics.
• Maintain written BSA processes and procedures for the department.
• Assist with maintaining compliance training content.
• Provide back up for other department duties as needed.
Minimum Qualifications: Knowledge, Skills and Abilities
- Strong leadership, organization, analytic and problem solving / critical thinking skills, with the ability to assess and address compliance risks.
- Knowledge of modern managerial principles, practices, and techniques.
- Ability to direct and supervise the work of others.
- Thorough knowledge of BSA and a working understanding of CFPB rules and regulations.
- Specific knowledge of state and federal laws and regulations pertaining to financial institutions (i.e., BSA, AML, OFAC, USA Patriot Act).
- Knowledge of Verafin modules, filing of SARs, thresholds, risk perimeters, and maintenance.
- Ability to prioritize and successfully manage multiple tasks and deadlines.
- Ability to analyze situations and recommend workable solutions.
- Ability to effectively research and report data.
- Ability to distinguish and manage confidential information, materials, and conversations.
- Ability to effectively communicate verbally and in writing.
- Ability to establish and maintain effective working relationships in a diverse environment.
- Ability to operate a personal computer with word processing, spreadsheet, and presentation software, and email and intra/internet.
- Ability and desire to work in a team environment.
- Familiarity with model validation concepts and governance techniques.
Licenses and Certifications
- BSA Officer Certification (CBSAP, ACAMS or equivalent) is required.
Physical Requirements
- Ability to travel as needed for certification purposes.
- Ability to stand, bend, stoop, sit, walk, twist, and turn.
- Ability to lift up to 25 pounds occasionally.
- Ability to use a computer keyboard and calculator.
- Work environment is indoors; majority of the time is spent sitting at a desk.
The ideal candidate has a combination of education and experience equivalent to a bachelor’s degree in business administration, audit, risk management, accounting, or a closely related field and a minimum of eight years’ experience in the financial services industry, anti-money laundering, enterprise fraud, or risk management.
Compensation: Base starting range: $138,112 to $181,980 annually commensurate with experience.
Our base salary starting range is based on scope and responsibilities of the position, candidate's work experience, education/training, key skills, and internal peer equity. We offer a competitive total rewards package including a wide range of medical, dental, vision, financial, and other benefits.
Redwood Credit Union offers a robust benefits package to our eligible employees including:
• Competitive medical, dental, and vision insurance, mental health offerings
• Employee performance incentive plan
• Salary Advancement– Merit increase based on performance
• 401(k) program with employer match
• Time Off- Competitive PTO accrual plus 11 paid company holidays and your birthday off!
RCU Discounts and Perks:
• RCU employees are eligible for a .75% discount off RCU standard collateral auto loans
• RCU employees are eligible for a 1% discount on all recreational or boat loan products
• 2% discount off Visas and LOC Loans through RCU
• 0% interest loan to support employees with various immigration related expenses such as visa application fees and relocation costs. Loan amount up to $1,000.
• 0% interest loan to support employees with expenses associated with the naturalization process. Loan amount up to $15,000.
• 0% interest on garment, fitness, or home office equipment loan of up to $500
• 100% financing for employee purchased homes!
Internal Team Members
If you are a current Team Member, please apply through the internal careers page located in RCUNET.
We are an Equal Opportunity Employer
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