Senior Bank Secrecy Act (BSA) Specialist

ABOUT REDWOOD CREDIT UNION (RCU):At Redwood Credit Union, our mission is to passionately serve the best interests of our Members and communities. Since 1950, we have been dedicated to supporting the financial well-being of our Members through better rates, low or no fees, and best-in-class customer service. Our purpose is to inspire hope and elevate the financial well-being of our communities one person at a time, through good times and bad. As a not-for-profit financial institution, we are committed to a people-first approach, which is reflected not only in how we serve our Members, but also in how we treat our employees. Our leadership team is deeply focused on fostering a culture of heart and empathy, integrity, passion, inclusion, meaningful relationships, excellence, and ensuring financial well-being for all.   Why work for Redwood Credit Union?•   29th largest credit union in the U.S. and the largest financial institution based in the North Bay •   Awarded a 5-Star Rating based on 6/30/24 financial data by Bauer Financial• Recognized by Newsweek as one of "America's Greatest Midsize Workplaces 2025"•   Recognized by Newsweek as one of "America's Best Credit Unions 2024"•   Recognized by Forbes as one of “America’s Best Small Employers 2023" •   Voted Best Places to Work in the North Bay 19 years in a row•   World-class Employee Engagement scores•   Rated Superior in Service by more than 90% of Members, surveyed by SF Gate•   Industry leading Net Promoter Scores across the U.S.                                                                                                                                                                                                                Join us and discover why you'll love working at Redwood Credit Union! 
Redwood Credit Union is looking for a Senior Bank Secrecy Act (BSA) Specialist, who has an advanced working knowledge of Anti-Money Laundering (AML), Bank Secrecy Act (BSA), and Office of Foreign Assets Control (OFAC) regulations with a focus on Enhanced Due Diligence (EDD), Suspicious Activity Reporting (SAR), Currency Transaction Reporting (CTR), and Watch List reporting. The primary objective of this position is to review and assess Member risk, analyze transactional activity, investigate suspicious activity, and prepare regulatory reporting accurately and in a timely fashion. The Senior BSA Specialist will also act in a lead role in the development of the Enhanced Due Diligence program and be considered a subject matter expert on strategic projects that lead to more robust EDD processes. The Senior BSA Specialist follows the Credit Union’s BSA Policy to ensure conformity and adherence with all applicable state and federal laws, regulations, and policies and procedures.

ESSENTIAL FUNCTIONS:Department Operations• Assist management in the development and implementation of strategies to mitigate, track and report risks associated with high-risk Members.• Conduct in-depth due diligence reviews of complex high-risk Members to assess and mitigate AML risk. Prepare comprehensive reports on these high-risk Members, detailing findings, and recommendations for senior management.• Gather documents and analyze the risks associated with complex ownership structure, evaluating variables such as source of funds and purpose of the business relationship.• Act as the subject matter expert for front line staff during Member onboarding to ensure information and documents collected are sufficient to accurately risk rate Members and ensure AML risk informs the decisions to offer higher risk products and services.• Assist management with conducting annual risk assessments and provide support to Compliance Risk team in the maintenance of RCSA activities applicable to the BSA/AML program.• Perform QC and QA reviews of various BSA/AML functions internal to the BSA/AMLA Team and of other areas throughout RCU with AML/OFAC responsibilities; including but not limited to, Investigations/SARs, AML Alerts, Customer Risk reviews, CTR and watchlist reviews to determine if the review and research were conducted in accordance with qualitystandards and timeframes set forth within established procedures, policies, and regulatory requirements.• Act as BSA/AML subject matter expert on projects that impact the collection and analysis of Member and transactional data relevant to BSA/AML risk, including the Digital Account Opening project, which integrate EDD process into the member experience for all new business accounts.• Work with management to develop and deliver training pertaining to Member due diligence during onboarding process.• Review BSA alerts and document actions including non-filing and/or preparing Suspicious Activity reports where needed, ensuring accuracy and compliance with BSA requirements a