AML Risk Analyst

Pay Range: $68,003.00 - $83,173.00

Remote Eligible: Hybrid

We offer a pay-for-performance compensation program including bonuses for all employees and a competitive benefits package. See https://www.cuofco.org/careers for a high-level overview of our benefits package and bonus offerings.

 

General Purpose of the Position 

Primarily responsible for the credit union’s overall compliance with applicable rules, regulations, and statutory requirements regarding Bank Secrecy Act (BSA) and Office of Foreign Asset Control (OFAC).  Prepare documentation for submitting reports and ensure timely submission of documentation and paperwork to the appropriate agencies.  This is accomplished through implementation of a risk assessment program and performance of the primary duties and responsibilities listed below.   

ESSENTIAL DUTIES AND RESPONSIBILITIES (including the following).  May perform other duties as requested or assigned. 

• Review, monitor, and record required documentation regarding anti-money laundering/fraud alerts, currency transaction reports, and monetary instruments logs to identify potential unlawful activities. Report to applicable government agencies as required. 

•  Complete and file all necessary Suspicious Activity Reports (SAR) and Currency Transaction Reports (CTR) by researching and working internal system alerts and analyzing information from independent channels. 

•  Assist BSA Officer with detection of Money Laundering typologies investigation. 

• Perform CTR and SAR audits to ensure accuracy and consistency in filings. 

• Complete 314(b) inquiries and requests as needed. 

• Participate in providing and monitoring BSA & OFAC training to appropriate credit union personnel. 

• Assist in updating the BSA & OFAC risk assessments on an ongoing basis to ensure that procedures have been developed to support compliance requirements of each regulation.   

• Review, research, analyze, manage, and respond as needed to: including OFAC and 314(a) alerts. 

• Supports BSA Officer and assists with the examiners and external auditors during compliance related examinations. 

• Participate in developing and maintaining a current library of BSA and OFAC compliance resources and provide informational assistance as requested. 

• Conduct research and account reviews for fraudulent activity by working designated alerts and reports as needed. 

• Occasionally support Fraud team by appropriately responding to instances of identified forgery and fraud.  

• Respond to subpoenas and other legal requests by gathering documentation and communicating directly with law enforcement. 

• Analyze and monitor business accounts for suspicious activity and support the Business Services team with mitigating risk and proposing enhanced due diligence.  

• Assist with compliance related functions included but not limited to the review of trust, POA, fiduciary and other legal documentation to determine risk and make a risk-based decision whether to approve or deny the request.  

• Provide IRA/HSA program support and answer tax related inquiries for front line staff. 

• Provide ongoing support to Frontline Staff on risk, legal, compliance fraud and security related issues. 

• Perform other related responsibilities and activities as assigned, commensurate with level of responsibility and qualifications. 

• Assist with updating the credit union’s policies and procedures as needed.   

• Leverage broad Risk Management knowledge to provide ongoing support to interdepartmental staff and assist in the training and development of new staff within the department.   

• Provides excellent service by demonstrating courtesy and personal concern for members and co-workers' needs and follows-up to ensure those needs are met. 

• Adhere to all Federal and State laws and regulations applicable to the credit union, including the Bank Secrecy Act and OFAC. 

 

Requirements 

EDUCATION AND EXPERIENCE 

Bachelor’s degree (B.A.) from four-year college or university plus 3-4 years BSA analyst experience or time spent in a similar role. Have completed, or agree to complete, the Certified Bank Secrecy Act Professional Designation (CBSAP), or similar, within twelve months of hire date.   

OTHER SKILLS AND ABILITIES 

Ability to build confidence and teamwork through mutual support.  Ability to organize and prioritize own work, balance competing demands and deadlines and function without close supervision.  Strong verbal, written and public speaking skills and interpersonal skills.  Ability to effectively use MS Office products and AML software. Excellent analytical ability, and the ability to conduct thorough research, interpret and understand laws and regulations, and disseminate information, provide workable recommendations and solutions to problems.  Broad knowledge of, and practical experience with, credit union or other financial institution operating areas, functions, products and services and the laws and regulations which apply to credit unions.  Ability to apply verbal and interpersonal skills that develop member confidence, respect and trust in Credit Union of Colorado and develop cooperative relationships with all levels of people throughout the organization. 

Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.  Ability to write reports, business correspondence, and procedure manuals.  Ability to effectively present information and respond to questions from groups of managers, clients, customers and the general public. 

Ability to work with mathematical concepts such as probability and statistical inference.  Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations. 

Ability to apply understand and carry out instructions furnished in written, verbal, or diagram form.  Ability to deal with problems involving several concrete variables in standardized situations. 

PHYSICAL DEMANDS 

While performing the duties of this job, the employee is typically required to sit for long periods.  The employee continually is required to talk or hear. The employee is occasionally required to stand, walk, stoop and reach with hands and arms. The employee will occasionally lift and/or move up to [10] pounds.  Specific vision abilities required by this job include close vision and the ability to adjust focus. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.  [Limited travel required to visit CU locations as needed.]   

 

Core Competencies 

MEMBER FOCUSED  

Creates trust by building relationships and actively discovers the right solutions for Members and peers; understands that the credit union exists because of Member trust and loyalty in the organization and employees; is passionate and dedicated to meeting the expectations and requirements of internal and external Members.  

COOPERATION AND TEAMWORK  

Relates well to all kinds of people; builds appropriate rapport; works harmoniously with others; uses and understands diplomacy and tact; encourages collaboration; seeks opinions; is candid with peers; values working relationships. Readily puts in extra effort to accomplish important tasks.   

DECISION QUALITY  

Understands the member’s best interest is first; demonstrates decisions which are based on creating the best possible outcome for the member; makes decisions based on a mixture of analysis, wisdom, experience, and judgment; most recommendations and decisions turn out to be correct and accurate when judged over time; sought out by others for advice and solutions. 

PROBLEM SOLVING  

Uses rigorous logic and methods to solve difficult problems creating effective solutions; is resilient and will own the solution and the problem; can see hidden problems; is excellent at honest analysis; looks beyond the obvious and doesn’t stop at the first answers. 

ACTION ORIENTED   

Pushes self and others to achieve the best possible results for the Member, organization and employees; proactively seeks out opportunities; raises hand, rather than waits to be asked; not fearful of acting with a minimum of planning; understands that it’s OK to make a mistake (fail forward). 

ADAPTABLE  

Learns on the fly; is a relentless, versatile and an active learner; open to change; can learn new skills and knowledge; analyzes both successes and failures for opportunities to improve; understands that different situations and levels may call for different skills and approaches; works to deploy strengths; works on compensating for weaknesses and limits. 

INNOVATION 

A cultural mindset that supports new ideas, fosters experimentation and drives continuous improvement to deliver member value. 

Combines and brings forward ideas in unique ways to make connections between disparate ideas; willingness to explore different lines of thought and suggestions and try new ideas through experimentation, views situations from multiple perspectives; brainstorms multiple approaches/solutions to benefit members. 

 

Credit Union of Colorado is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, national origin, age, disability, genetic information, marital status, veteran status, or any other characteristic protected by applicable federal, state, or local laws. 

Please note applicants can redact any information that identifies their age, birth date, or dates of schooling on either their resume or any additional materials provided.