BSA and Fraud Mitigation Officer

Title: Bank Secrecy Act (BSA) and Fraud Mitigation Officer

Department: Risk Management

Reports To: Compliance and Risk Manager

Job Grade: 11

FLSA: Non-Exempt Last Modified: 4/14/2025

It's a Job ... Only Better!

At UKFCU, we're more than a Credit Union - we're a community, and we've been proudly serving our members since 1937! As a rapidly growing, not-for-profit organization, we're dedicated to making a real difference in the lives of our members and employees alike. If you're looking for a workplace where you can grow, make an impact, and have fun while helping others, UKFCU is the place for you!

Why This Role Matters

As the BSA and Fraud Mitigation Officer, you'll serve as a critical line of defense against financial crime. You'll lead the design, implementation, and oversight of our BSA/AML/OFAC Compliance Program, while also proactively identifying and addressing fraud threats. Your work ensures our credit union remains secure, compliant, and responsive in an ever-evolving risk environment. Through training, investigation, and data-driven strategy, you'll help protect our members and promote a culture of safety and accountability.

What You'll Do

Core Responsibilities

• Compliance Leadership: Oversee, enhance, and manage BSA/AML/OFAC compliance programs, ensuring monitoring systems are optimized to detect suspicious or fraudulent activity.
• Fraud Investigation & Prevention: Lead fraud investigations, analyze trends, and provide training on fraud prevention.
• Monitoring & Due Diligence: Administer automated BSA monitoring tools, perform due diligence on member accounts, and oversee high-risk account reviews.
• Risk Assessment: Conduct annual BSA/AML/OFAC risk assessments and report findings to the Compliance and Risk Manager.
• Regulatory Reporting: Ensure timely filing of Currency Transaction Reports (CTRs), Suspicious Activity Reports (SARs), and compliance with 314(a) and 314(b) reporting.
• Staff & Board Training: Develop and deliver BSA training to employees, management, Board of Directors, and Supervisory Committee.
• Reporting & Audits: Prepare monthly and quarterly fraud and compliance reports for leadership and serve as the primary contact during audits and exams.
• Regulatory Awareness: Stay up to date on industry trends and legal requirements, recommending policy enhancements as needed.
• Team Collaboration: Work closely with compliance staff and other departments to ensure enterprise-wide BSA/Fraud awareness and alignment.
• Other Duties: Carry out additional responsibilities as needed to support risk management and organizational goals.

Who You Are

Experience & Education

• 3-5 years of related experience
• Associate degree or equivalent specialized education
• BSA/AML certifications preferred

Skills & Strengths

• Strong knowledge of BSA/AML/OFAC/USA Patriot Act regulations
• Understanding of deposit operations, lending activities, and consumer banking compliance
• Strong analytical and investigative skills
• Ability to maintain confidentiality and demonstrate sound judgment
• Excellent written and verbal communication skills
• Skilled in collaborating with internal and external stakeholders including auditors, legal counsel, and law enforcement
• Ability to define problems, collect data, and draw actionable conclusions

Key Traits

• High attention to detail and accuracy
• Strong initiative and independent problem-solving abilities
• Commitment to continuous improvement and regulatory excellence
• Professionalism, integrity, and member-focused mindset

What's in It for You?

• Competitive salary and industry-leading benefits.
• Opportunities for professional growth and leadership development.
• A chance to make a lasting impact on our members and the organization's future.

Legalese

Equal Opportunity Employer

UKFCU is an Equal Opportunity Employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. Employment decisions are made without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, genetic information, veteran status, or any other characteristic protected by applicable law.

At-Will Employment

Employment with UKFCU is deemed "at-will," which means that either you or the company may terminate the employment relationship at any time, with or without cause or notice, unless otherwise provided by law.

Physical and Cognitive Demands

This role requires a blend of physical activity and mental focus to effectively perform its essential functions. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this role. Key physical activities include sitting, standing, walking, and occasional lifting (up to 25 pounds). You'll also use your hands for various tasks, reach with your arms, and engage in conversations. Vision requirements include the ability to focus, perceive depth, and distinguish colors. Cognitive abilities essential for this role include judgment, auditory perception, memory, reasoning, and occasional persuasion.

Work Environment

You'll primarily work indoors in a comfortable, climate-controlled office setting. The noise level is typically moderate, ensuring a focused yet dynamic work environment. Reasonable accommodations will be provided as needed to support an inclusive workplace.

This job description provides a general overview of the responsibilities and expectations for this role. It is not a comprehensive list of tasks, and employees may be asked to take on additional duties to support team success.