The BSA/AML Officer I is an emerging compliance professional who supports the institution’s Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) programs. Working within the Risk Management Team, the BSA/AML Officer I assists with daily compliance activities, helps maintain regulatory standards, and contributes to efforts that protect the enterprise from financial crime and regulatory risk. This role offers a foundational experience in consumer compliance, data analytics, RegTech adoption, and risk assessment, and is designed as a launchpad for career development in compliance and financial integrity.
Duties and Responsibilities:
- Program Support: Assist in the execution and maintenance of BSA/AML/OFAC compliance programs, upholding established policies, procedures, and controls.
- Transaction Monitoring: Review and analyze transactions flagged by BSA/AML/OFAC systems; support the timely filing of Currency Transaction Reports (CTRs), Suspicious Activity Reports (SARs), and responses to 314(a) Requests under supervision.
- Regulatory Adherence: Stay updated on BSA, AML, OFAC, and other relevant regulations; help implement policy updates as directed by senior compliance staff.
- Data Analytics: Utilize spreadsheets and basic analytics tools (e.g., Excel, Power BI) to organize, analyze, and report financial data relevant to compliance functions.
- Risk Assessment: Participate in periodic risk assessments and support efforts to identify and mitigate potential threats within the institution.
- RegTech Utilization: Use designated RegTech solutions for transaction monitoring, sanctions screening, and customer due diligence, according to established procedures.
- Investigation Assistance: Aid in initial research and documentation for potential SAR filings and investigative requests, escalating findings to senior team members.
- Audit & Exam Support: Assist in preparation for audits and regulatory exams, including organizing materials and responding to basic inquiries.
- Training & Development: Complete required training programs; actively seek opportunities for learning and skill-building in compliance, risk management, and emerging technologies.
- Collaboration: Work with compliance, audit, and business line teams to foster a culture of integrity, ethical conduct, and continuous improvement.
Qualifications:
- Bachelor’s degree in a relevant field (Business, Finance, Accounting, Criminal Justice, Information Systems, or related discipline) or equivalent experience.
- 0–2 years of experience in banking, financial services, compliance, or other relevant roles preferred.
- Familiarity with BSA/AML/OFAC concepts, regulations, and basic compliance practices.
- Knowledge of spreadsheets and basic data visualization tools (e.g., Excel, Power BI); willingness to learn new technologies and software.
- Strong attention to detail, analytical thinking, and problem-solving skills.
- Effective written and verbal communication skills; ability to follow instructions and collaborate within a team environment.
- High ethical standards, integrity, and commitment to the organization’s mission.
- Professional certification (e.g., CAMS, CFE) is a plus but not required at entry level.
Performance Standard:
- Basic understanding of BSA, AML, OFAC, and related regulatory frameworks.
- Ability to organize, review, and interpret financial data and transaction records.
- Demonstrated capacity for learning new systems, technologies, and protocols.
- Adaptability to change and interest in ongoing professional development.
- Collaborative mindset and commitment to team goals and compliance excellence.
- Respect for confidential information and data privacy.
Physical Requirements:
- Perform tasks requiring manual dexterity (processing paperwork, filing, stapling, sorting, collating, typing, counting cash, etc.).
- Sit for extended periods of time.
- Lift 20-40 pounds of applicable supplies including but not limited to copy paper, cash drawers, marketing material, etc.
- Repetitive motion using wrists, hands, and fingers.
- Ability to operate basic office machines (calculator, computer, telephone, copy machine, fax machine, etc.).
The above statements reflect the general details considered necessary to describe the essential functions of the job and should not be construed as a detailed description of all the work requirements that may be inherent of the job.
Must be eligible for membership at ICCU to obtain employment.
ICCU is an Equal Opportunity Employer. Employment decisions are made without regard to race, color, religion, national or ethnic origin, sex, age, disability, protected veteran status or other characteristics protected by law.
