Compliance Specialist
Summary
A compliance specialist at a credit union monitors anti-money laundering alerts, files regulatory reports, and maintains BSA/AML and OFAC programs using Verafin.
This role supports the credit union’s BSA/AML and OFAC programs through alert monitoring, regulatory reporting, and account oversight. Key responsibilities include managing account monitoring system alerts via Verafin platform, conducting OFAC reviews, assisting with the filing of Currency Transaction Reports (CTR) and Suspicious Activity Reports (SAR), and supporting policy and record-retention maintenance.
The position also involves maintaining dormant, deceased, and special accounts and assisting with subpoena processing. Additionally, tracking notary certifications, updating procedures, conducting branch inspections, and providing daily support to staff and the BSA/Compliance Officer to ensure ongoing compliance and the effectiveness of the program.