COMPLIANCE SPECIALIST, SPRINGFIELD, OH
SUMMARY:
The Compliance Specialist is responsible for supporting and assisting the IHCU Compliance Officer. You will be trained to be the backup Compliance Officer. This position maintains monitoring and investigating to ensure compliance with all regulatory requirements for the protection of member assets. Assists in daily compliance with the Banking Secrecy Act (BSA), Office of Foreign Asset Control (OFAC), banking and lending laws and regulations. Helps to maintain and operate the electronic compliance management systems. Responsible for tracking and working with staff to complete all relevant and required compliance training.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
· Assist with the review of potential reportable cash activity. Audit/prepare Currency Transaction Reports (CTRs).
· Assist with the investigation of Suspicious Activity and filing Suspicious Activity Reports (SARs). This may include interaction with Law Enforcement and possibly Adult and Child Protective Services.
· Daily review and maintenance of activity in Verafin.
· Perform and review OFAC and FinCEN 314(a) scans of members and transactional data.
· Carry out procedures to comply with Bank Secrecy Act (BSA), Anti-Money Laundering (AML), USA Patriot Act and Office of Foreign Assets Control (OFAC) requirements. Provide assistant and support on computer equipment operations, printer configurations, password and lock settings and other technical issues.
· Assist with the review of shared branching and monetary instrument reports to maintain proper recordkeeping.
· Assist with fraud alerts to detect and prevent fraudulent activity across transactions.
· Assist with the suspicious activity alerts to detect possible money laundering, terrorist financing or other financial crimes for Suspicious Activity Report (SAR) prevention.
· Assist with the Monitoring IHCU’s member identification program (MIP) and member due diligence (MDD).
· Identify high-risk members and conduct enhanced due diligence (EDD).
· Provide IHCU staff support by responding to questions regarding compliance and procedural matters.
· Participate in audits and examinations, including BSA.
· Complete custom compliance reports and projects as needed.
· Track task completion by sending emails.
· Track policy review time-frames.
· Make appropriate updates in the compliance management system by assisting to establish, maintain, and update on a regular basis.
· Develop an understanding of the IHCU history, philosophy, organization, policies, and operational procedures.
· Respond to law enforcement inquiries regarding fraud investigations in coordination with Legal and Loss Prevention.
· Cooperate with in-depth investigations of fraudulent and suspicious activity by using several sources to compile evidence and create case files.
· Attend training as needed to improve knowledge and competency of the duties. Complete required regulatory training as assigned, including outside annual BSA Training.
- Complete projects on a timely basis and other duties as assigned.
- Vendor Due Diligence, daily updates as needed and annual reviews, including SOC reviews, contract reviews, risk assessments and other duties related to Vendor Due Diligence.
- Complete or assist with random branch cash audits.
- Audit a sampling of IHCU loans monthly.
- Audit all new VISA accounts.
- Audit Dormant Accounts monthly.
- Audit New Business Accounts for Compliance monthly.
- Review checks deposited into ATMs daily.
- Review daily email updates from FIA-SOFIA (Southern Ohio Fraud Investigators Association) for local fraud activity.
- Any and all other duties assigned to you at a later date.
PERFORMANCE STANDARDS:
Understand and comply with all relevant laws and regulations, including but not limited to: Bank Secrecy Act (BSA), Electronic Funds Transfers (Reg. E), Privacy, Expedited Funds Availability (Reg. CC), Fair Debt Collection, Truth in Savings (Reg. DD), OFAC, VISA U.S.A. regulations, FACT-Act ID Theft, fair collections, Elder Abuse, and Social Engineering. Excellent verbal and written communication skills; excellent analytical and organization skills. A professional appearance and attitude as well as the ability to multitask, prioritize and manage time efficiently.
QUALIFICATION REQUIREMENTS:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or EXPERIENCE:
Bachelor's degree preferred; Associate's degree; or one to three years of financial institution experience and/or training; or equivalent combination of education and experience. Related work experience may substitute for education. BSA experience with all software knowledge is desired as well as receiving CUNA BSA accreditation within a reasonable period of time.
LANGUAGE SKILLS:
Ability to read and interpret documents, procedure manuals, etc.
Ability to write routine reports and correspondence.
Ability to speak effectively with other employees of IH Credit Union.
Able to communicate effectively by telephone and email.
MATHEMATICAL SKILLS:
Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percentages.
WORK ENVIRONMENT:
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually quiet. Travel to different branch locations, conferences, and business related matters when needed will be expected.
MENTAL DEMANDS:
The mental characteristics necessary to competently perform this job involve the occasional need to be resourceful, perceptive and persuasive in solving problems; the frequent need to take initiative and instruct; and the continuous need to concentrate, exercise judgement and
patience in dealing with employees. The ability to organize and prioritize your work is essential.
Pay: $50,000.00 - $60,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee discount
- Health insurance
- Life insurance
- Mileage reimbursement
- Paid time off
- Tuition reimbursement
- Vision insurance
Work Location: In person
