BSA & Compliance Analyst 1, 2 or 3

Role 1

The BSA Analyst plays a critical role in maintaining the Credit Union’s compliance with key regulatory requirements, including the Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering (AML) Act, and Office of Foreign Assets Control (OFAC) guidelines. This position is responsible for monitoring and investigating suspicious activity using specialized BSA/AML software, conducting in-depth research, and preparing mandatory regulatory filings such as Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs). The BSA Analyst will build subject matter expertise in BSA/AML regulations and serve as a trusted resource across departments and branches, offering guidance, support, and training to ensure consistent and effective compliance practices.

Role 2

This position is primarily responsible for preparing and submitting reports required under the Bank Secrecy Act (BSA), USA PATRIOT Act, the Anti-Money Laundering (AML) Act, and Office of Foreign Assets Control (OFAC) regulations. In addition, the BSA Analyst 2 investigates alerts and cases within the BSA/AML software to help identify and mitigate potential risks to the Credit Union. The role involves conducting various reviews and ongoing monitoring activities, ensuring compliance with regulatory requirements and industry best practices. The BSA Analyst 2 also serves as a resource for departments and branches, providing guidance and training on BSA-related matters while maintaining full adherence to all applicable regulations.

Role 3

This position is primarily responsible for independently managing complex compliance activities related to the Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering (AML) Act, and Office of Foreign Assets Control (OFAC) regulations. Operating with limited supervision, the BSA Analyst 3 focuses on preparing and submitting required regulatory reports, including Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs), while ensuring accuracy and timeliness.
Key responsibilities include conducting thorough investigations of alerts and cases using BSA/AML software, performing targeted reviews and ongoing monitoring to identify and mitigate financial crime risks, and ensuring adherence to regulatory requirements and industry best practices. The BSA Analyst 3 also serves as a subject matter expert, providing guidance, training, and support to departments and branches on BSA-related matters.
This position requires strong analytical skills, sound judgment, and the ability to work independently in a fast-paced, compliance-driven environment.

Major Duties and Responsibilities 

Accurately identify and report transactions by filing required reports including Currency Transaction Reports (CTRs) and exemptions within regulatory timeframes, maintaining and monitoring the Monetary Instrument Log (MIL) for suspicious activity, and preparing the monthly SAR report for the Board of Directors.

Perform a wide range of BSA compliance functions—including OFAC screenings, 314(a) and 314(b) requests, Member Identification Program (MIP) reviews, Member Due Diligence (MDD), Beneficial Ownership verification, and Enhanced Due Diligence (EDD) for high-risk accounts—while monitoring the Credit Union’s OFAC compliance program, supporting audits and examinations, contributing to policy and procedural development, staying current on regulatory requirements, and applying critical thinking and communicate well-reasoned recommendations with minimal supervision. 

Investigate and analyze cases of potential fraud and/or suspicious activity related to BSA/AML compliance. Review alerts generated by BSA/AML software and Unusual Activity Referrals (UARs), leveraging internal systems and external resources. Prepare and submit Suspicious Activity Reports (SARs) to the appropriate government agencies, ensuring accuracy, completeness, and timeliness.

Coordinate and deliver BSA/AML training and continuing education across the organization, assist in developing and maintaining training programs, and collaborate with departments and branches to ensure compliance by providing guidance and corrective training as needed.

Perform additional duties as assigned, including system maintenance, project support, and process improvement initiatives. Contribute to strategic efforts that enhance the effectiveness and efficiency of the Credit Union’s BSA/AML program.

Knowledge and Skills

Experience

One year to eight years of similar or related experience or equivalent combination of education and experience acquired in a credit union, bank, financial institution, or similar field.

Education/Certifications/Licenses

High School diploma up to a two-year college degree or completion of a specialized course of study at a business or trade school equivalent to approximately 64 credit hours.

Interpersonal Skills

A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with members, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject matter experts as well as first level to middle managers.

ADA Requirements

Physical Requirements

Is able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in an emergency situation. Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours or travel off site whenever required or requested by management. Must be capable of regular, reliable and timely attendance.

Working Conditions

Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.

Mental and/or Emotional Requirements

Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to complete basic mathematical calculations, spell accurately, and understand computer basics. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.