Bank Security Act (BSA)/Anti-Money Laundering (AML) Analyst - Naveo Credit Union - Somerville, MA

Job detailsJob TypeFull-timeFull Job DescriptionJob Title: Bank Security Act (BSA)/Anti-Money Laundering (AML) Analyst Reports To: BSA Officer Department: Operations FLSA Status: Full Time/Non-Exempt
About us: Naveo is a not-for-profit financial institution (with locations in Somerville and Cambridge) focused on serving our members as partners, guiding them towards their financial goals. We embrace their personalities, cultures, and ambitions, tailoring our services to fit their needs and creating a financial plan that matches up with their current and future goals. At Naveo, it's your journey. Our team is made up of experienced and dedicated employees seeking to make an impact in the communities we serve by supporting our local economy, small businesses and community organizations. Interested in bringing value to our members and neighbors? Seeking to develop your skills? You might be a fit for one of our openings. About the role: Under the direction of the BSA Officer, ensure compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) regulations, the USA PATRIOT Act, Know Your Member (KYM) requirements, Office of Foreign Asset Control (OFAC) regulations, Customer Identification Program (CIP) and Beneficial Ownership requirements, and any other requirement defined in Naveo Credit Union's BSA Program.

Responsibilities include:
Ongoing Monitoring for Suspicious Activity - Contribute to processes designed to detect suspicious transactions, fraud and other possible violations of laws, regulations, policies and procedures. Investigate possible suspicious activity by reviewing alerts within AML system.
Member Risk Rating and Review - Collect and review account opening documentation to determine a risk level for new members. Perform ongoing high risk monitoring reviews.
Cash Monitoring - Review cash transaction reports and files Currency Transaction Reports (CTR) when appropriate. Investigate unusual or suspicious cash activity for money laundering or any other illegal activity.
Fraud Investigation - Investigate and document cases of possible fraud against the credit union or its members. Take appropriate action as necessary, including restricting accounts or notifying law enforcement.

Government Watch List Reporting and Investigation - Research and respond to possible matches to the government 314a, OFAC and related watch lists.
Our ideal candidate looks like: Education/Experience: Bachelor's degree preferred. Two (2) or more years of banking or credit union experience preferred. Effective time management skills. Ability to exercise good judgment and ability to prioritize multiple demands.
Language Ability: Ability to read and interpret documents (safety rules, operating and maintenance instructions, and procedure manuals). Ability to write routine reports and correspondence. Ability to speak effectively before groups of members or employees of organization.
Math Ability: Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
Reasoning Ability: Ability to solve practical problems and deal with a variety of concrete examples.Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
Computer Skills: Knowledge of Microsoft Office and Outlook, Smartsheets and VERAFIN preferred.
Work Environment: Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.
Physical Demands: Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit; use hands; reach with hands and arms and talk or hear. The employee is occasionally required to stand and walk.The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception and ability to adjust focus. Have some of the above skills or qualifications, but not others? Contact us and let us know why you think you'd be a fit.
MORE ABOUT US: Naveo Credit Union, formerly Cambridge Portuguese Credit Union, was incorporated in 1928 by members of the Portuguese-American community as a place for their community to grow their savings with confidence and borrow money at low rates. In 2014, we changed our name to Naveo Credit Union to complement the changing demographics of the area - we welcome everyone in the community to become a member. We are socially responsible, supporting local non-profit organizations that serve our membership. Naveo is an equal opportunity employer that values diversity. We do not discriminate based on perceived or actual race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, or status as an individual with a disability. Naveo is committed to providing access, equal opportunity and reasonable accommodation for individuals with disabilities in employment and activities.

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