Job Description

Job Description

Job Description

Velocity Community Credit Union is looking for a BSA/AML Specialist to join our team!

This is a full-time, on-site role for a BSA/AML Specialist at our location in Palm Beach Gardens, FL. The BSA Specialist will support the Credit Union’s BSA/AML program by ensuring adherence to all applicable federal and state regulations, internal policies and best practices. Core responsibilities include monitoring, analyzing, and investigating transactions to ensure compliance with Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations, identifying and reporting suspicious activities, preparing and filing CTRs and SARs, conducting Member Identification Program (MIP) reviews for new members, assisting with fraud monitoring and investigations, and providing general support to the Risk Department.

Responsibilities of the BSA/AML Specialist are:

• Responsible for the continuous monitoring of member accounts and decisioning of alerts via the Credit Union’s AML transaction monitoring software to identify transactions and patterns of transactions that indicate risk of money laundering and other illegal activity. Document investigations and findings and prepare various reports to update the status of investigations.
• Preparing and filing CTRs and SARs. Conducts 90-day reviews to determine re-filing of a SAR. Recognizes situations that may require escalation to the BSA/Compliance Officer or the Fraud Specialist. Provides support to the Fraud Specialist.
• Reviews new business member due diligence documents to determine risk level and approve or deny high risk account opening requests. Perform and document enhanced due diligence reviews on existing high-risk members according to internal processes. 
• Performs periodic audits of OFAC, Under The Threshold Alerts, and supports other audits as needed. Documents findings and reports findings to the BSA/Compliance Officer. 
• Supports BSA/AML related audits as needed.
• Act as backup to the Fraud Specialist.
• Performs other duties and responsibilities as assigned.

Job Requirements:

• Strong skills in AML Investigations and identifying suspicious account activity
• Effective Communication skills for collaboration with team members and external parties
• Attention to detail and ability to work with sensitive, confidential information
• Prior experience in the banking or financial services sector is required
• Verafin experience is an advantage
• Familiarity with financial regulations and AML monitoring tools is preferred

About Us :
Velocity Community Credit Union is a progressive, full service financial institution that is passionate about helping its members. As a not-for-profit co-op, our dedicated employees can concentrate on providing superior service to our members while offering a full suite of products to meet all of their financial needs.

Company Description

About Us :\r\nVelocity Community Credit Union is a progressive, full service financial institution that is passionate about helping its members. As a not-for-profit co-op, our dedicated employees can concentrate on providing superior service to our members while offering a full suite of products to meet all of their financial needs.

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