BSA & Fraud Officer

Description

YOUR PURPOSE

The BSA & Fraud Officer serves as Horizon Credit Union’s designated Bank Secrecy Act Officer and is responsible for the overall administration, oversight, and effectiveness of the Bank Secrecy Act (BSA)/ Anti-Money Laundering (AML) and Office of Foreign Assets Control (OFAC) compliance programs, as well as oversight of Horizon Credit Union’s fraud risk management program. This role works collaboratively with internal departments to continuously identify, assess, and evaluate money laundering, terrorist financing, sanctions, cyber enabled fraud, and traditional fraud risks, ensuring these risks are managed in accordance with applicable laws and regulatory expectations. The BSA & Fraud Officer provides independent oversight, analysis, and guidance to support the timely detection, investigation, escalation, and reporting of suspicious or potentially fraudulent activity, and serves as a liaison with regulators, examiners, and law enforcement. The BSA Officer must have sufficient authority, independence, expertise, and access to resources to administer and oversee an effective BSA/AML compliance program.

YOU ARE RESPONSIBLE FOR

Collaboration, Risk Management & Leadership

• Collaborate across functions to support fraud and potential BSA implications, including cyber and online banking fraud.
• Build strong relationships with the Information Security Officer and Digital Banking teams to ensure coordinated efforts in managing fraud-related risks.
• Partner with branch teams, training, operations, enterprise risk management, accounting, collections, lending, IT, and leadership to identify and evaluate financial crime and fraud risks.
• Promote a strong culture of compliance, collaboration, accountability, and risk awareness throughout the Credit Union.
• Provide guidance and support to departments in fraud situations, including information gathering, case escalation decisions, and coordination with law enforcement.
• Provide direct oversight of the BSA team, including BSA/Fraud Specialists, ensuring appropriate workload distribution, performance management, and development. Provide coaching, guidance, and subject matter expertise to BSA staff to ensure consistent, high-quality investigations and documentation.
• Experience providing written and verbal performance feedback, in support of ongoing coaching of team members. 
• Conducts reviews, coaches, and mentors staff is.
• Demonstrates a clear commitment to ongoing leadership development.
• Facilitate BSA team outreach to foster trust, reinforce risk awareness, and support consistent application of BSA and fraud controls across the Credit Union.

Analysis

• Oversee transaction monitoring and alert governance, including ongoing review of system effectiveness, thresholds, and alert trends. Review, assess, and make final determinations on whether suspicious activity warrants filing a Suspicious Activity Report (SAR), including complex or high risk cases.
• Assist the BSA team, when needed, to conduct investigations that require excellent judgement and discretion. Utilize multiple tools, resources and sources of information to make appropriate determinations regarding Credit Union responsibility and actions.
• Analyze alerts, cases, SAR data, fraud losses, and monitoring outputs to identify systemic issues, control gaps, and evolving risk patterns.
• Interpret regulatory guidance, enforcement actions, and industry trends to assess potential impact on the Credit Union’s risk profile. Support and contribute to periodic updates of the BSA/AML/OFAC Risk Assessment, incorporating internal data, fraud metrics, and external risk factors.

Compliance

• Develop, maintain, and execute the BSA/AML/OFAC program ensuring compliance with applicable state and federal regulations.
• Develops, implements, assesses, and regularly updates internal controls and procedures to strengthen regulatory compliance and reduce financial risk.
• Serve as the primary subject matter expert for BSA/AML and fraud related suspicious activity, ensuring compliance with the Bank Secrecy Act, FinCEN regulations, and internal policies.
• Oversee the timely and accurate filing of SARs and CTRs
• Assess need for fraud and/or BSA related committees, providing leadership over communication on emerging fraud trends, significant incidents, and mitigation strategies.
• Respond to internal audit and independent review findings related to BSA/AML, OFAC, and fraud by assessing issues, developing corrective action plans, and ensuring timely remediation.
• Oversee compliance with information-sharing requirements, including 314(a), 314(b), subpoenas, a