AVP Fraud Management and BSA Compliance Officer

Note:All full-time positions include the option of $0 out-of-pocket premium cost for Employee Only PPO AND exceptionally low premiums for all other PPO coverage levels.

Tower is offering a $1000 signing bonus

SUMMARY OF POSITION: The AVP of Fraud Management and BSA Compliance Officer plays a pivotal role in safeguarding the integrity and reputation of our organization. This position is responsible for managing fraud and ensuring compliance with the Bank Secrecy Act (BSA), USA PATRIOT Act, Office of Foreign Assets Control (OFAC) and Anti-Money Laundering (AML) regulations. The AVP develops and implements strategies, policies, and procedures to minimize loss and mitigate risks associated with fraud and other illegal acts. This role involves comprehensive management of fraud risk, including identification and mitigation, investigations, education, and training across all business units, products, services, and processes.

The position of BSA Compliance Officer, as delegated by the Board of Directors, is the primary individual responsible for ensuring that the credit union complies with the Bank Secrecy Act (BSA). The BSA Compliance Officer fully supports BSA training efforts, participates in briefings to Senior Management, the Board of Directors, and other levels of management and staff on BSA/AML compliance issues and responding, as the subject matter expert, to BSA/AML questions.

The AVP Fraud Management & BSA Compliance Officer is responsible for analyzing fraud trends and making recommendations for changes to Tower procedures and/or policies for monitoring the effectiveness of any fraud applications and plastic card neural network to mitigate fraud losses.

The incumbent is responsible as a Team Leader/Member for specific functional legal/regulatory compliance, as outlined and maintained on TowerNet, under the Compliance Home Page. In the role of Team Leader, the incumbent provides an annual attestation regarding the effectiveness of applicable compliance related policies and procedures for assigned regulations and laws. In the role of Team Member, accepts responsibilities at the direction of the Team Leader.

Principal Accountabilities and Functions:

1. Monitor, enforce, and coordinate the Credit Union's compliance with BSA / AML-related laws.
2. Develop and regularly update a BSA Compliance Program, requiring Board approval, including Board education and reporting.
3. Establish a strategic vision for compliance with the BSA / AML program and oversee its development, administration, and implementation across all business units.
4. Review and update BSA / AML-related policies, systems, procedures, and processes, ensuring they are responsive to regulatory or organizational changes.
5. Ensure the adequacy of BSA / AML program monitoring and reporting systems, including technology utilization, risk scoring, data segmentation, and the institution's KYC program.
6. Serve as the Credit Union's BSA/AML/OFAC Officer.
7. Administer the Credit Union's OFAC sanctions program including the development of applicable policies, procedures, and systems in place to identify, block, and report prohibited individuals, entities, or assets.
8. Oversee the development and maintenance of BSA / AML / OFAC risk assessments for new and existing products/services, considering inherent risks and necessary control enhancements.
9. Govern BSA compliance of front-line, retail, lending, and back-office staff, establishing accountability standards for non-BSA compliance with regulatory requirements.
10. Proactively monitor, analyze, report, and implement necessary regulatory changes, advising stakeholders of emerging risks and mitigation strategies.
11. Lead the implementation of fraud strategies, policies, and risk management assessments, ensuring organizational alignment.
12. Develop and implement comprehensive fraud awareness, prevention, detection, and response programs.
13. Create and advise on policies, procedures, and practices to establish an effective fraud-managed environment.
14. Adjust loss reduction strategies in response to evolving fraud patterns.
15. The AVP of Fraud Management & BSA Compliance Officer will work closely with various departments, including compliance, operations, retail, lending, and IT, to ensure a cohesive approach to fraud prevention and AML compliance. Collaboration with external law enforcement and regulatory bodies will also be a key aspect of this role.
16. Serve as the subject matter expert during regulatory examinations.
17. Perform all duties inherent in a senior leadership role, fostering a culture of compliance and ethical behavior.

Required Qualifications:

Education & Experience:

• Bachelor's degree in a related field.
• ACAMS and CAMLS certification required.
• Minimum of five to ten years of BSA / AML-related experience, including management experience within a financial institution.
• Minimum of five to ten years' experience in developing and implementing fraud programs within a financial services organization.
• Minimum of five to ten years of management experience, preferably leading large teams, or cross-departmental initiatives.
• CBAP, or other related certification from accredited associations (ABA, NAFCU, CUNA, etc.) preferred.
• Excellent oral/written communication, interpersonal, analytical, problem-solving, and multi-tasking skills.
• Proven experience in project and program management, including proficiency in BSA and rule-based fraud applications and data analysis tools.

Competencies:

• Proficiency in the use of Microsoft Office applications including Word and Excel at time of hire.
• Ability demonstrated on the job (what) to help evaluate and integrate software and serve as the administrator for specific software and/or retrieve, interpret information from internal reporting systems, and take independent actions based on the results.
• Ability to create-explain relevant and readable graphs, charts, and presentations.
• Ability to enter data, sort, and extract information from database systems and to apply basic fraud rules and procedures and apply mathematical concepts.
• Ability to understand and analyze financial and operational data.
• Has knowledge of and adheres to credit union policies and procedures and all regulations related to the Bank Secrecy Act, the USA PATRIOT Act and OFAC.
• Ability to read, analyze and interpret business periodicals, professional journals, government regulations.
• Ability to author reports, business correspondence and procedures for a diverse audience.
• Ability to present thorough and well thought out recommendations to top management, Board of Directors, or public groups.
• Ability to persuade others to consider merits of course of action.
• Ability to rapidly define problems, collect data, establish facts, and draw valid conclusions.
• Ability to develop solutions for problems with concrete and/or abstract variables in a variety of situations.
• Ability to identify cause, affect relationships, and evaluate risk vs. potential return.
• Ability to develop and clarify means and methods to implement with assigned staff and others.
• Ability to initiate long and short-term planning.
• Ability to develop action plans and to organize workload to accommodate competing deadlines.
• Ability to provide constructive feedback to others.
• Ability to resolve controversial or delicate matters skillfully.
• Ability to effectively negotiate on behalf of the organization.
• Ability to collaborate with various members of the organization at multiple levels, to negotiate, decide and implement appropriate solutions.
• Ability to motivate and influence others to act.
• Ability to facilitate group discussion and gain consensus.
• Ability to maintain sensitive and confidential information.
• Ability to interact effectively and professionally with colleagues and supervisors.

WORKING CONDITIONS:

• Sufficient sight and mobility required to access and read, without assistance, member, and other source data in paper and/or electronic files.
• Subject to periodic post hire credit checks.
• Ability to lift 15 pounds with or without assistance.
• Ability to work the hours needed which may extend beyond the defined work schedule when operating conditions dictate.
• RCA security clearance.