Navy Federal Credit Union - Vienna, VA
posted 3 months ago
The BSA/AML & OFAC Compliance Team at Navy Federal is dedicated to ensuring compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) laws, and the Office of Foreign Assets Control (OFAC) sanctions laws. These regulations are crucial for financial institutions and the government in the fight against financial crime and terrorism, thereby safeguarding the financial system and national security. The team is responsible for filing essential regulatory reports, including Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs). Additionally, the team oversees Navy Federal's Customer Identification Program (CIP) and conducts Enhanced Due Diligence (EDD) for high-risk customers. As a Summer Associate, you will join a team of skilled Data Scientists, Data Analysts, and Systems Analysts focused on enhancing the BSA/AML program. Your role will involve applying data analytics to improve the identification of suspicious activities, ensure compliance with regulatory requirements, and enhance the quality of member data. Potential projects include analyzing member data quality against compliance requirements, making recommendations for data quality improvements, developing executive reports and dashboards, and learning about new financial crime patterns to develop detection models. You will also be responsible for creating processes for continuous monitoring of data pipelines to ensure the integrity of BSA/AML models and conducting exploratory analyses to uncover insights from existing data.