TruWest Credit Union
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Fraud, Legal & Compliance Analyst
at TruWest Credit Union
This position is also responsible for presenting potential compliance concerns to management and other appropriate parties as needed. Individual must present a professional, positive image at all times as well as having the ability to maintain excellent written and oral communication skills.
Education: Bachelor Degree preferred. Demonstrated successful experience can be substituted in lieu of degree.
Experience: Three to five years of experience in a financial institution with a position in fraud investigations and/or compliance and legal processing. Intermediate to advance knowledge of BSA, AML, OFAC regulatory requirements preferred.
Knowledge and Skills:
- Advanced knowledge of Credit Union products and services, applicable laws, regulations, financial services, and regulatory trends.
- Knowledge of Fraud Detection and Anti-Money Laundering Software and Fiserv core processing system or comparable system.
- Attention to detail and exhibits investigative and research-intensive skills.
- Strong oral and written communication skills, including intermediate to advanced knowledge of Microsoft Office Suite of products,
- Ability to cultivate effective relationships to facilitate collaborative problem solving.
- Ability to manage multiple deadlines and tasks while remaining timely with obligations. Must be able to handle large volume of work, adapt well to changing priorities and effectively prioritize workflow to meet critical deadlines.
- Ability to make sound decisions in a timely manner using good judgment as well as knowing when to act independently or seek out leader.
- Self-starter and team player.
Primary Duties and Responsibilities:
- Assist the Risk Management department to fulfill its Bank Secrecy Act functions by reviewing ID Verify, Red Flag and OFAC issues.
- Assist BSA and AML functions by performing routine reviews to identify trends, unusual activity, and monitor large currency activity in a time-sensitive and investigative manner.
- Assist with reviewing, drafting and preparing of FINCen filings, including but not limited to currency transaction reporting, (CTRs) and SAR.
- Review member accounts for suspicious activities.
- Monitor automated BSA/AML/Fraud system timely to identify if filing or reporting is warranted and timely prepares and files.
- Identify, investigate and draft reports with a conclusion when potential suspicious or fraudulent activity may be escalated or identified.
- Conduct time sensitive investigations of external and internal fraud against the credit union or credit union members, including but not limited to check fraud, fraudulent debit/credit card transactions, online fraud, forgery, theft, and identity theft, elderly abuse. As required, work in conjunction with the Internal Auditing Department.
- Manage fraud cases and losses that affect TruWest, its members, and/or as assigned by management.
- Prepare legal and fraud loss reports for management and other team members as requested.
- Research and evaluate anti-money laundering (AML) cases and accurately and sufficiently documents analysis and findings in the Credit Union's case management system.
- Perform Customer Due Diligence and Enhanced due diligence and fully document all investigative findings and/or secure additional member documentation as required.
- Processes, track and report garnishments, levies, subpoenas and request for debt verification.
- Support internal teams regarding questions or concerns on Legal and Compliance while providing extraordinary service.
- Assist with writing, documenting, and implementing Risk Management processes and procedures.
- Assist with development and maintenance of Compliance policies and procedures and related training.
- Ensure all compliance processes are documented and meet the needs of our teams and those who rely upon such information for decision-making and support.
- Draft, maintain, and update department policy, procedures and work instructions.
- Draft and maintain correspondence, including but not limited to Risk Management communication with members and Financial Institutions.
- Assist, coordinate, and manage Disaster Recovery plan maintenance, updates, and testing.
- Manage tracking and support federal and state licensing requirements.
- Manage member complaints, including but not limited to handling, tracking, and responding in a timely fashion.
- Support claim processing, including but not limited to insurance claims and indemnification with financial institutions.
- Manage processing and handling of recoveries, including but not limited to restitution payments repayment from losses by individuals and outside institutions.
- Provide expertise with individualized consulting and/or written communication in Fraud Preventions/Risk Management in order to build awareness.
- Support additional or routine Risk Management tasks and provide back up support based on Risk Management department needs or as assigned.
- Research and interpret regulations, laws, remain current with regulatory updates and make recommendations.
Secondary Duties and Responsibilities:
- Maintain a strong understanding of systems utilized to monitor suspicious activity, as well as all aspects of BSA and AML.
- Keep informed on trends, best practices, or other issues, that impact the department, and make recommendations when appropriate and participate when requested.
- Perform and Participate in projects and tasks as requested by management.
- Participate and/or consult on departmental or organizational projects as it relates to fraud/legal.
- Maintain a productive relationship with local, state and federal law enforcement agencies and other financial institutions. Committee in order to stay abreast of current developments in the industry.
- Keep up to date on potential security alerts and scams using resources, including but not limited to NCUA, government entities, qualified internet sites, law enforcement, and communicate to applicable management/staff.
- Prepare accurate, objective, clear, concise constructive and timely written reports for the purpose of expressing an opinion on the adequacy of compliance and making recommendations for improvements to existing systems and functions.
- Follow credit union policies for compliance with all laws and regulations, specifically, but not limited to, the Bank Secrecy Act, Security Policies and Confidentiality Policies.