BSA Compliance and Fraud Analyst

University Of Michigan - Ann Arbor, MI

Full-time

Ann Arbor, MI

Educational Services

About the position

The University of Michigan Credit Union is seeking a BSA Compliance and Fraud Analyst who will play a crucial role in ensuring the security and compliance of the credit union's operations. This position is designed for individuals who are bright, professional, and service-minded, with a focus on providing exceptional customer service to our members. As a BSA Compliance and Fraud Analyst, you will be responsible for maintaining appropriate operational security and BSA measures throughout the credit union. This includes monitoring transactions and transaction history for various types of fraud and suspicious activity, such as identity theft, money laundering, and kiting. You will also be responsible for BSA Operations, which encompasses products, policies, procedures, and training necessary to maintain compliance with BSA, OFAC, U.S. Patriot Act, Anti-Money Laundering, S.A.F.E. Act, CFPB regulations, and the Customer Identification Program. In this role, you will assess regulatory and internal compliance regarding BSA Operations, review and file all Currency Transaction Reports, and complete bi-weekly 314(a) reporting. You will monitor fraud and BSA software to investigate any illegal or suspicious activity involving credit union accounts. Additionally, you will prepare statistical and operational reports, review data to monitor member transactions for fraud or suspicious activity, and maintain knowledge of UMCU plans, policies, and procedures as they pertain to Fraud and BSA. You will also be responsible for training UMCU team members based on their roles in the organization and enhancing security and BSA knowledge across the credit union. The work environment is typical of an office atmosphere, with a moderate noise level. The position requires frequent sitting, using hands to handle or feel, and talking or hearing. You will also need to stand, walk, and reach with hands and arms, and occasionally lift or move up to 20 pounds. The University of Michigan Credit Union values the growth and development of its team members, offering various career paths and opportunities for advancement.

Responsibilities

• Maintain appropriate operational security and BSA measures throughout the credit union.
• Monitor transactions and transaction history for fraud and suspicious activity.
• Responsible for BSA Operations including products, policies, procedures, and training necessary to maintain compliance with BSA, OFAC, U.S. Patriot Act, Anti-Money Laundering, S.A.F.E. Act, CFPB regulations, and the Customer Identification Program.
• Assess regulatory and internal compliance regarding BSA Operations, monitoring, and control systems.
• Review and file all Currency Transaction Reports.
• Complete bi-weekly 314(a) reporting.
• Perform required CDD and EDD reviews.
• Monitor fraud and BSA software to investigate illegal or suspicious activity involving credit union accounts.
• Monitor SAR dashboard in BSA Software and communicate necessary information to BSA Officer for decision to file SAR.
• Prepare statistical and operational reports and review data to monitor member transactions for fraud or suspicious activity.
• Perform SAR file reviews and file as needed.
• Prepare monthly reporting on filed SARs for management and Board of Directors.
• Maintain knowledge and evaluate sufficiency of UMCU plans, policies, and procedures regarding Fraud and BSA compliance.
• Implement changes as needed for compliance.
• Provide BSA training necessary for UMCU team members based on their role.
• Communicate with other departments to enhance security and BSA knowledge across the organization.
• Demonstrate responsibility for the security of member information and maintain professionalism regarding confidentiality.
• Create reports utilizing software for watch list data, fraud alerts, red flag alerts, etc.
• Assist with training of new team members and periodically re-train other team members in security procedures.
• Direct activities related to revising, updating, or developing credit union security measures and procedures.
• Serve as UM Credit Union representative to various security groups and report relevant information to management.
• Provide back-up as Security Officer as designated by the Board of Directors.
• Volunteer in various activities sponsored by UMCU within the University of Michigan and Ann Arbor communities.

Requirements

• Bachelor's Degree or a minimum of 3 years in a financial institution.
• Sensitivity to confidential matters and ability to exercise discretion.
• Proficient in Microsoft Office - Word, Excel, PowerPoint, and Outlook.
• Strong verbal and written communication skills.
• Strong research skills.
• Must be a team player and possess a high energy 'can do' attitude.

Benefits

• Dental insurance
• Health insurance
• Paid time off
• Parental leave
• Tuition reimbursement
• Vision insurance