SHARE:

BSA/Compliance Manager

February 3, 2025

KV FCU is hiring a BSA/Compliance Manager at their Augusta branch.

The BSA/Compliance Manager is a full-time salaried position reporting to the President/CEO.  The BSA/Compliance Manager is responsible for developing, implementing, administering, and maintaining all aspects of the Bank Secrecy Act/Anti-Money Laundering Compliance Program.  In addition to BSA, the role of the BSA/Compliance Manager will be responsible for reviewing, documenting and evaluating compliance activities, delivering employee training on compliance matters, handling compliance-related complaints, performing audits and working with examiners. This position will coordinate with other credit union Management to identify potential compliance risks, implement procedures, draft policies and procedures that comply with all applicable laws and regulations, and maintain the credit union’s adherence to all policies and procedures.

Major Duties and Responsibilities:

  • Coordinate and oversee an effective Bank Secrecy Act/Anti-Money Laundering/OFAC Compliance Program that is in line with current industry’s best practices, regulatory guidance and requirements.
  • Enhance, develop, implement and administer the BSA/AML/OFAC/USA Patriot Act monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity.
  • Establish and maintain an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments, and review and analysis of unusual/suspicious account activity.
  • Establish and maintain appropriate SAR investigation, review and reporting processes that promote consistent decisions; adequate investigation and research; and complete detailed documentation.
  • Conduct BSA/AML/OFAC risk assessments annually or as needed with consideration to products, services, members, and geographies that may present BSA/AML/OFAC related risks.
  • Responsible for ensuring all required regulatory reporting is conducted in a timely, accurate, and compliant manner, including the filing of Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) to Fin CEN, as well as FinCEN 314(a) and 314(b) procedures and reporting.
  • Act as liaison/contact for Federal and State examinations and internal and external independent reviews or audits of the BSA/AML/OFAC compliance programs. Participate in response to exam and audit concerns and oversee corrective action of all related compliance deficiencies or violations.
  • Assist Compliance Administrator with updates and revisions to BSA/AML/OFAC policies and procedures.
  • Stay abreast of and analyze developing industry and compliance trends, scams or schemes, and changes to laws and regulations pertaining to BSA/AML/OFAC/USA Patriot Act.
  • Monitor, and stay abreast of compliance related industry developments, as well as proposed and new regulations and review for potential impact to Credit Union operations.
  • Provide insight, interpretation and guidance on new and revised regulatory issues to the President/CEO.
  • Assist with the implementation of new changes to complex regulatory requirements.
  • Work with the President/CEO to coordinate the completion of BSA Audit, Supervisory Exam, NCUA Exam and ACH Audit.  Assist with the audit process and follow-up requirements.
  • Attend compliance related industry conferences and meetings. At minimum, attend MECUL annual BSA Conference training – for regional insights and current examiner focus.  This event serves as annual training for BSA officers for multiple Maine credit unions.
  • Maintain applicable certifications to ensure current knowledge of regulatory compliance.
  • Maintain a Supervisory User profile in the FinCEN BSA E-Filing System and maintain a supervisory role of the BSA E-Filing System, working with KV management or staff members who are authorized to access the system for the purpose of CTR and/or SAR filings.
    • Authorize new user registrations when determined appropriate.
    • Edit Roles or disable users when appropriate.
    • Provide annual training for Users on usage of the system and expectations.
    • Provide annual training and awareness for appropriate staff – FinCEN 311 Special Measures.
    • Provide BSA training for all new credit union employees appropriate to their roles.
    • Provide BSA training for all credit union employees and board members.
    • Maintain a User profile in the FinCEN 314(a) Information Sharing System to accommodate the regulatory requirements associated with the posting of Business and Person files and download timely to the PayLynxs SimpliRisk platform for scanning against the database.  Record results and maintain required records. (The credit union does not currently participate in 314 (b) information sharing.)
  • Perform compliance reviews of Credit Union policies and procedures, member agreements, disclosures, print and digital marketing as needed.
  • Assist Supervisory Committee with their audit functions.
  • Other duties as assigned, required or requested.

Expectations:

  • Participate in credit union projects, providing both a compliance and risk management perspective.
  • Support the compliance monitoring and testing process.
  • To maintain a professional, courteous, and friendly atmosphere for members and co-workers.
  • To behave in a positive manner, assist co‑workers as needed in a friendly, courteous, and respectful manner, and avoid negative behaviors.
  • To comply with all credit union policies and procedures including reporting to work on time and avoiding unnecessary absences and to take pride and be accountable for quality of work.
  • Foster a spirit of compliance for credit union management, staff, and board.

Pay:

  • $55,000.00 – $60,000.00 annually

Benefits Include:

  • Health Insurance
  • Dental Insurance
  • Life Insurance
  • Long term & short-term disability
  • 401k with partial employer match
  • Tuition reimbursement
  • Paid holidays
  • Paid time off

Knowledge and Skills:

Experience: Minimum of five years of similar or related experience.

Education: Associate’s degree in business management, financial, or another related field; or High school diploma or GED certificate and at least three years of experience in an audit or compliance position.

Apply: Please email resumes to cdevine@kvfcu.org.