AVP BSA/ AML& OFAC Compliance Officer

Municipal Credit Union - New York, NY (30+ days ago)3.6

Primary Job Function:

Administrates and coordinates the Credit Union’s Bank Secrecy Act (“BSA”) AML and OFAC Compliance Program


  • Administers, coordinates and monitor Credit Union’s day-to-day compliance with the Bank Secrecy Act (and the recordkeeping and recording requirements set forth in Subchapter II of Chapter 53 of Title 31, United States Code, and applicable regulations related thereto) and OFAC Regulations.
  • Recommend to management changes in BSA/AML & OFAC Compliance Manual and other policies and procedures which will maintain the Credit Union’s compliance with applicable BSA-related and OFAC-related laws and regulations.
  • Supervise the BSA Unit staff.
  • Perform annual BSA/ AML risk assessments and modify when appropriate due to the addition of new products, services or identified risks.
  • Utilize the Verafin system to ensure that necessary anti-money laundering monitoring and reporting protocols are being deployed and utilized, and that corresponding SARs are completed and filed when appropriate.
  • Ensure that SARs & CTRs are completed and electronically filed with FinCEN on a timely basis.
  • Maintain the master listing of all completed CTRs and SARs for the Credit Union, and provide monthly recaps and semi-annual reports for submission to the CEO and Board of Directors.
  • Establish, maintain and update the master Exemption List of members exempt from CTR reporting.
  • Timely retrieve and review FinCEN 314(a) reports from FinCEN’s website.
  • Comply with requirements to provide information on requests received from Regulators or Law Enforcement authorities as per section 314(b) of the USA PATRIOT Act.
  • Coordinate and administrate an up-to-date training program to ensure that all appropriate MCU employees receive required BSA and OFAC compliance training.
  • Review new pertinent compliance information and, when necessary, distribute such information to appropriate Credit Union personnel.
  • Coordinate independent testing and review of the BSA/AML and OFAC Compliance Program, and the testing and validation of the automated systems utilized in the BSA/AML and OFAC Compliance Program.
  • Manage all third-party systems used by the BSA Unit for the BSA/AML and OFAC Compliance Program.
  • Ensure that new and existing members and parties to banking transactions, when appropriate, are properly screened against OFAC lists.
  • Coordinate contact with the appropriate Government agencies (OFAC or other primary list provider) if there are any valid matches.
  • Coordinate blocking or “freezing” of any property if there is a match with OFAC or other primary list providers.
  • Submit an annual report of blocked property each year to OFAC.
  • Develop strategy and procedures to ensure full compliance with the broad requirements of OFAC regulations.


  • Resume must be provided accompanied by a cover letter.
  • Bachelors Degree. Master’s Degree or Juris Doctor Degree preferred.
  • CAMS or similar equivalent certification.
  • Minimum five (5) years of progressively responsible managerial or executive experience in a financial institution and minimum two (2) years of BSA compliance experience.
  • Equivalent experience in a closely related field with equal responsibility is acceptable.
  • Ability to interact with diverse groups in a professional manner.
  • Excellent analytical skills.
  • Excellent organizational and writing skills essential.
  • Must exercise good judgment and tact when applying knowledge of regulations and policies to a variety of situations.
  • Excellent interpersonal and communication skills.
  • Ability to read and interpret laws and regulations.
  • Proficiency in Microsoft for Windows Application.

Municipal Credit Union (MCU) is an Equal Opportunity Employer.

Job Type: Full-time


  • compliance: 2 years


  • Bachelor's