BSA Fraud Officer

Job Title:  

BSA Fraud Officer 

Reports To: 

VP, Operations

About us:

Naveo is a not-for-profit financial institution (with locations in Somerville and Cambridge) focused on serving our members as partners, guiding them towards their financial goals. We embrace their personalities, cultures, and ambitions, tailoring our services to fit their needs and creating a financial plan that matches up with their current and future goals. At Naveo, it’s your journey.

Our team is made up of experienced and dedicated employees seeking to make an impact in the communities we serve by supporting our local economy, small businesses and community organizations. Interested in bringing value to our members and neighbors? Seeking to develop your skills? You might be a fit for one of our openings.

About the role:

Responsible for developing, implementing and administering all aspects of the Bank Secrecy Act and Anti-Money Laundering Compliance Program. Ensures all affected areas of the Credit Union are kept informed of changing laws and procedures for implementation to be completed at the appropriate time

Responsibilities include:

· Manage staff of one, including evaluating performance, setting goals, coaching, and training.

· Develop and maintain subject matter expertise in all BSA/AML and fraud functions. Establish and enhance processes to detect and prevent suspicious activity, fraud, and other violations of law or BSA/AML policies and procedures. Provide guidance and support to staff to enforce strong internal controls and compliance.

· Administer the Credit Union’s BSA/AML monitoring system. Assess opportunities for enhancement and improvement.

· Review account opening and maintenance documentation, including CIP verification, beneficial ownership, and personal/business member questionnaires. Log and track any exceptions identified for prompt resolution. Conduct enhanced due diligence and assign risk ratings to members. Perform ongoing high-risk monitoring reviews.

· Investigate incident reports submitted by staff and take appropriate action. Review, monitor, and clear various system-generated alerts and reports relating to critical file maintenance and transaction activity.

· File Currency Transaction Reports (CTRs). Investigate unusual or suspicious cash activity for money laundering or other unlawful activity.

· Lead SAR Committee meetings for initial and continuing reviews of suspicious activity. File Suspicious Activity Reports (SARs) as needed.

· Conduct reviews of new and existing products, services, and solutions across the Credit Union for BSA/AML considerations.

· Research and respond to possible matches to Sections 314(a) and 314(b) information sharing, OFAC sanctions lists, and related watch lists.

· Serve as primary contact for BSA/AML related external audits and regulatory exams.

· Assist in the assignment of BSA/AML training to all staff. Prepare and present annual BSA/AML training to the Board of Directors.

· Prepare metrics on losses and recoveries for reporting to the CEO and the Board of Directors.

· Participate in BSA/AML and fraud related networking groups and training events to remain well informed on industry and regional trends and concerns. Keep abreast of changes in regulatory compliance and industry best practices.

Our ideal candidate looks like: 

Education/Experience: 

· Three to Five years of experience in BSA compliance or risk management of a Credit Union/Bank organization is required. 

· Bachelor's degree preferred 

· Professional certifications preferred: Certified BSA Professional (CBSAP), Certified Anti-Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE)

· Proficient with Verafin BSA/AML software preferred 

· Require knowledge of governmental and financial regulations, laws, and guidelines from NCUA, CFPB, and FINCEN

Have some of the above skills or qualifications, but not others? Contact us and let us know why you think you’d be a fit.

MORE ABOUT US:

Naveo Credit Union, formerly Cambridge Portuguese Credit Union, was incorporated in 1928 by members of the Portuguese-American community as a place for their community to grow their savings with confidence and borrow money at low rates. In 2014, we changed our name to Naveo Credit Union to complement the changing demographics of the area -- we welcome everyone in the community to become a member. We are socially responsible, supporting local non-profit organizations that serve our membership. 

Naveo is an equal opportunity employer that values diversity. We do not discriminate based on perceived or actual race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, or status as an individual with a disability. Naveo is committed to providing access, equal opportunity and reasonable accommodation for individuals with disabilities in employment and activities.