Banking Compliance (BSA) Manager - Credit Union

Santa Cruz; Santa Cruz County, CA

MUST BE ABLE TO PROVIDE PROOF OF 2, IF NOT 3 COVID VACCINATIONS 

Company Profile: 

Located on the coast of Santa Cruz County, Santa Cruz Community Credit Union has an opening for a BSA / Compliance Manager.  On the foundation of running a very tight BSA compliance program for many years, SCCCU has also been managing cannabis banking programs for over 20 years and has all the latest software and tools. Looking for an experienced BSA Manager and oversight and development of our new compliance department, and someone who already has experience in cannabis banking business or is ready to be on the cutting edge of this growing industry in California. 

Job Summary:

Reporting to the Senior Project Manager or Senior VP, the BSA / Compliance Manager oversees BSA compliance and risk control efforts, including compliance with applicable Credit Union rules and regulations.  The individual will supervise the activities of the BSA Compliance program and staff, to ensure compliance with SCCCU’s Bank Secrecy Act (BSA) and Anti-Money Laundering (ALM) Compliance Program, in accordance with the organization's policies and applicable laws. Confidentiality, risk management and detailed reporting are critical components of the job duties.  The position will oversee a team of 3-4 BSA Specialists.

Duties/Responsibilities:

Supervise, train, coach and counsel assigned employees; coordinate / control workflow to meet deadlines, objectives, and clear backlogs;

Serve as primary contact for risk and compliance department programs; monitor implementation of action plans for the risk and compliance programs; organize appropriate risk and compliance management reporting internally and externally;

Maintain BSA Certification requirements; following approval by Board of Directors, will be appointed the Bank Secrecy Officer for the Credit Union;

Maintain thorough understanding of state and federal laws and regulations related to Bank Secrecy and Anti Money Laundering laws;

Maintain compliance with Customer Identification Program (CIP), Customer Due Diligence (CDD), Enhanced Due Diligence (EDD) and Office of Foreign Asset Control (OFAC);

Stay abreast and analyze developing industry and compliance trends, scams, schemes, changes to laws and regulations pertaining to BSA/AML; monitors Department of Justice activities throughout state of California;

Advise Senior Vice President and CEO of emerging risks, new or amended laws and regulations and implements changes necessary to mitigate BSA compliance risks;

Coordinate, compile, verify, interpret and analyzes reports of key performance areas within the department, including trending of BSA/AML/OFAC alerts and case results, report filings, BSA/AML software risk-rule reviews;

Prepare summary of results and analysis for department management and include recommendations for improvements to mitigate risk, as needed;

Oversee compliance in the administration of the BSA/AML monitoring software;

Assigns BSA/AML alerts and oversee case workload of BSA Specialists;

Prepare requested documentation for regulatory examinations and external / internal audits of the BSA/AML compliance programs;

Perform second level review of Suspicious Activity Reports and review samplings of suspect cases with no SAR filing;

Perform second level review of Currency Transaction Reports;

Ensures timely filing of Suspicious Activity Reports and Currency Transaction Reports;

Perform periodic BSA compliance reviews and send exception notices to the CEO and senior management; tracks exceptions, trending issues and reports results;

Perform quarterly CTR audits and evaluation of CTR exemption requests;

Prepare and finalize annual BSA/OFAC Risk Assessment;

Work closely with assigned third parties / consultants to monitor and improve BSA compliance and documentation; oversee appropriate use / implementation of any compliance or BSA software thereof;

Monitor / comply with established internal audit, security, credit union rules, policies, regulations and departmental procedures;

Source, interview, hire, train employees; plan, assign, directs work; conduct appraisals / performance evaluations, as well as reward / discipline employees; addresses complaints and resolve issues;

Prepare work and vacation schedules; approve timesheets;

Act as back-up to the BSA Compliance Specialists;

Prefer experience working with cannabis business members (SCCCU has had a cannabis banking program for over 20 years); will train otherwise;

Review Marijuana Related Businesses (MRB), as well as other designated high-risk accounts, including new member applications and perform ongoing due diligence; maintains appropriate documentation and controls;

Oversee review / monitoring of high-risk accounts and behavior set reviews; analyze and make decisions on BSA-related exceptions, CIP discrepancies, alerts and transaction monitoring of high-risk members;

Oversee processing of OFAC and FinCEN 314(a) lists, maintenance of records and notify FinCEN when applicable;

Oversee 314 (b) information sharing requests;

Perform site visits and evaluations per procedures for MRB and other high-risk accounts;

Coordinate efforts with law enforcement and ensure law enforcement requests are processed and retained appropriately;

Receive / process subpoenas and formal inquiries;

Prepares monthly MRB, BSA and CTR/SAR reports to be distributed to the Board of Directors.

Qualifications:

Bachelor’s Degree preferred or previous experience in a similar role may be substituted for degree;

At least 3 years’ experience in compliance oversight of BSA/AML/USA Patriot Act regulations required;

5 years’ credit union / financial institution-related experience in operations, branch, or technology;

Experience with BSA monitoring software such as Verafin, a plus;

Ability to learn and perform complex processes to meet specific procedures, policies, and BSA/AML/USA Patriot Act regulations.

Strong mathematical capabilities necessary;

Proficiency in the Microsoft Office suite and industry-related software applications;

Exceptional organizational, time management, attention to detail, follow-through, problem-solving and customer service skills;

Astute oral and written communication and interpersonal skills;

Holder of valid California driver’s license and clean driving record;

Bust be able to be bonded.

Compensation:

$72,000 - $123,000 DOE base salary, for this full-time, exempt position.

Benefits:

Company-wide bonus plan; company subsidized health benefits (medical, dental, vision); company-sponsored life insurance, loan discounts (must be a credit union member) paid vacation, sick time and public holidays; 401k plan. 

Working Hours:

Standard hours are 8:30AM – 5:00PM Monday – Friday 

Location:

Santa Cruz, CA

COMMITMENT TO DIVERSITY:

Santa Cruz Community Credit Union is committed to employing qualified staff who are dedicated to our members, and to recruiting and hiring persons from diverse backgrounds.  Diversity means that we will foster a cultural awareness, promote mutual understanding, and respect, and provide suitable role models for helping all members, including those that are underserved and unbanked.