OverviewReports to: Manager, BSA/AML
Functions Supervised: Bank Secrecy Act and Anti-Money Laundering (BSA/AML) processes for the credit union and its service organizations (CUSOs) (referred to collectively as the Enterprise).
Primary Functions: The BSA/AML Transaction Monitoring Manager leads and oversees the daily operations of the enterprise's transaction monitoring activities. This includes managing key regulatory reporting for Suspicious Activity Reports (SARs), Currency Transaction Reports (CTRs), and Designation of Exempt Person (DOEP) filings. The manager ensures that suspicious activities related to money laundering, terrorist financing, and other illicit financial activities are promptly, accurately, and compliantly identified, investigated, and reported.
Duties and Responsibilities:- Stay current with BSA/AML laws, regulations, industry best practices, and internal policies relevant to the Enterprise.
- Assist the Manager, BSA/AML to develop, implement, and oversee the BSA/AML transaction monitoring program to ensure compliance with regulatory requirements (e.g., Bank Secrecy Act and FFIEC guidelines).
- Establish and update policies and procedures for BSA/AML transaction monitoring.
- Lead and develop a team of BSA/AML Monitoring Analysts, providing training, professional development, and performance feedback.
- Ensure timely, accurate, and well-documented completion of CTR and SAR filings in accordance with FinCEN requirements, resolving any FinCEN-reported errors.
- Conduct regular quality reviews to ensure consistency and identify areas for process improvement.
- Refine alert review processes and oversee the full investigation lifecycle, ensuring thorough documentation and regulatory compliance.
- Participate in system upgrades and recommend automation or improvements to optimize transaction monitoring and reduce risk.
- Manage the Designation of Exempt Person (DOEP) process, including eligibility reviews, initial filings, annual reviews, documentation, and discrepancy resolution.
- Collaborate with BSA/AML Management to optimize parameters, improving detection and reducing false positives.
- Serve as a liaison and subject matter expert on transaction monitoring processes, collaborating with business lines to ensure consistent standards.
- Utilize internal and third-party training platforms to support ongoing education and awareness of emerging AML trends and regulatory expectations.
- Perform other duties as assigned.
QualificationsEducation: A bachelor's degree in business, criminal justice, economics, finance, mathematics, statistics, information technology, or a related field is required. An advanced degree and/or a relevant professional certification, such as CAMS (Certified Anti-Money Laundering Specialist), is preferred.
Creditable Experience in Lieu of Education: Four years of related experience (in addition to the minimum years of experience required) may be substituted in lieu of a degree.
Experience/Skills: Minimum of six years of experience supporting BSA/AML activities for large financial institutions. Expert knowledge of all BSA/AML related regulations. Proven experience in overseeing compliance program development and ensuring compliance with regulatory requirements. Strong quantitative and analytical skills in problem-solving and planning situations. Ability to manage risk models and familiarity with BSA/AML monitoring software. Excellent oral and written communication skills with the ability to tailor communication to any level of the organization. Proficient in project management with the capability to handle multiple projects simultaneously. Ability to read, analyze, and interpret written information (e.g., legal documents, government regulations, and professional publications) and apply it to existing processes to make timely, informed decisions considering relevant facts, goals, constraints, and risks. Ability to understand, analyze, and articulate business line data to support program initiatives. Proven track record of working well and influencing peers, as well as members of a senior management team. Flexible approach to new projects, requirements, and workplace demands. Proficiency in MS Word, Visio, PowerPoint, and Excel is required. Impeccable ethical reputation and strong emotional intelligence.
Tenure: Not Applicable.
CompensationStarting base salary will be determined based on candidate experience, qualifications, education, and applicable local or state wage requirements, and will fall within the range provided below. In accordance with our Salary Administration policy, new hire base salaries generally fall between the minimum and midpoint of the listed range.
Salary Pay Range: 08$79,989 - $132,798 annually
Benefits- Short-term and long-term incentives
- Comprehensive medical, dental and vision insurance plan that has HSA and FSA options
- 401(k) plan with a 5% match
- Employee Assistance Program (EAP)
- Life and disability coverage
- Voluntary cash benefits for accident, hospitalization and critical illness
- Tuition Reimbursement
- Generous leave programs to include Paid Time Off accrual, Paid Sick Leave, Paid Holidays
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