VP BSA Risk Management

At VyStar, we offer competitive pay, an excellent benefit package that includes a 401(k) Plan, an extensive paid technical and on-the-job training program, and tuition reimbursement--available to all full and part time employees. Part time positions start at a minimum of 30 hours per week.

We encourage you to become a part of VyStar Credit Union's family of employees.

VP BSA Risk Management

ACCOUNTABILITY STATEMENT

Support the SVP Risk Officer in championing as well as providing overall Enterprise Risk Management (ERM) leadership, vision, and direction throughout VyStar, with a specific focus on Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) and Office of Foreign Assets Control (OFAC) Compliance Risk Management. Increase risk awareness and understanding of individual and compounding regulatory BSA/AML compliance risk exposures for those ultimately responsible for ongoing risk management activities - the Board and Audit Committee, Senior Management, and business line leaders. Assist in enhanced risk-based decision-making processes by providing guidance and collaborating with business units to ensure compliance with applicable rules, laws, and regulations. Regularly evaluate and monitor the effectiveness of BSA/AML Compliance and risk management activities through VyStar's Board approved BSA/AML and OFAC Compliance Programs.

The Vice President of BSA Risk Management reports directly to the SVP Risk Officer and provides periodic reports to the SVP Risk Officer, Chief Risk Officer & General Counsel, Board, and Executive Management. The Vice President supports organizational prominence and strong communication reporting channels and recognizes the key importance of BSA/AML/OFAC Compliance Risk Management activities as it relates to ERM, to VyStar's Officials and Management Team.

ESSENTIAL RESPONSIBILITIES

BSA/AML/OFAC Compliance Program:

Directly oversee and continually enhance the BSA/AML/OFAC Compliance Program to ensure it effectively compliments the ERM framework in the formalized identification, management, and monitoring of key BSA/AML/OFAC compliance risk drivers across the organization. Ensure key BSA/AML/OFAC Compliance risk drivers are identified; acceptable risk mitigation/response strategies and acceptable tolerance levels are defined in collaboration with the Board, Executive Management, and Department Leaders as applicable.

BSA/AML/OFAC Compliance Risk Management Reporting:

Provide regular informational reports on the effectiveness of BSA/AML/OFAC Compliance activities across the organization to Executive Management and appropriate Committees of the Board, as denoted in Board policies. Conclude on the effectiveness of compliance risk management activities. Identify opportunities to enhance and/or strengthen the overall BSA/AML/OFAC Compliance Programs.

Risk Intelligent Culture:

Assist the SVP Risk Officer, Chief Risk Officer & General Counsel in developing a risk intelligent culture with strong collaborative relationships across the organization. Help to create and foster an increased understanding and awareness of business line leaders' responsibility for risk assessment and management activities in their daily decision-making processes and procedural guidance. BSA/AML/OFAC Compliance Risk Management, in concert with the ERM function, will provide advice and consult with line managers to support compliance risk-based thinking and decision-making skills as well as to ensure proper procedural guidance as it relates specifically to regulatory compliance and BSA/AML/OFAC related risks is in place.

Enterprise Risk Management (ERM) Committee:

Participate as an active member ERM committee member and provide informational updates on emerging risks and regulatory BSA/AML/OFAC compliance changes and their potential impact on VyStar.

Initial and Ongoing BSA/AML/OFAC Compliance Risk Management Training:Review/develop initial and ongoing compliance risk management training for the organization to ensure training materials are accurate and applicable for the various job roles throughout the credit union. Ensure the Initial, ongoing, and required annual BSA/AML/OFAC training is completed in time for all employees, Executive Management, and Officials.

BSA/AML Risk Management Department:

In concert with the ERM function:

• Lead and provide direct oversight of the BSA/AML Risk Management Department.
• Oversee, coordinate, and monitor day-to-day Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance for the organization as well as the BSA/AML team.

• Ensure the BSA/AML team completes timely and accurate reporting of Currency Transaction Reports (CTRs), Suspicious Activity Reports (SARs), daily processing and disposition of AML alerts, and proper investigation of suspicious activity cases as well as other related BSA/AML/OFAC activities to minimize regulatory risks to the credit union.
• Oversee vendor relationships to ensure sufficient operational processing and data/reporting is provided timely. Ensure appropriate rule settings and configurations.
• Identify and implement software enhancements, system/rule configuration modifications, or process changes to ensure ongoing compliance, meet the changing risk environment, and promote department efficiencies.
• Ensure timely completion of departmental risk assessments and ongoing monitoring activities in the ERM Portal.
• Establish strong collaboration and sharing of expertise/knowledge between compliance, BSA/AML team members, and the other areas under the ERM function and in conjunction with Internal Audit's assurance services.
• Manage and report on the effectiveness of VyStar's BSA/AML/OFAC Compliance Programs.
• Conduct annual (or more frequently as needed) BSA/AML/OFAC risk assessments to assess new or existing products, services and/or technologies being deployed within the organization.
• Actively monitor and report on emerging regulatory BSA/AML/OFAC compliance changes, trends, issues, and risks and assess their applicability to VyStar. Make recommendations for enhancements to ensure VyStar remains in substantial compliance with applicable laws, rules and/or regulations.

Professional Credentials:

Maintain an understanding of VyStar's overall business plan objectives, long-term strategic goals, and current financial results. Annually, obtain necessary continuing education hours to maintain professional certifications and continuously enhance individual knowledge. Ensure the BSA/AML/OFAC Compliance Risk Management resources are properly aligned and collectively retain the necessary resources, knowledge, and skills to support the overall ERM function as well as VyStar in achieving its strategic and financial goals and in meeting the needs of growing and diverse organization.

Leadership:

Display excellent written and verbal communication skills when interacting with Officials, Executive Management, personnel throughout the organization and when interacting with vendors and others external to VyStar. Maintain professional composure, objectivity and fairness when dealing with conflicts and sensitive matters. Display attention to detail, ability to multi-task and meet established deadlines. Exhibit sound judgment and problem-solving skills. Instill credibility and integrity for the BSA/AML/OFAC Compliance Risk Management Department. Maintain collaborative relationships across the organization. Demonstrate due professional care and the highest standards of professional competency.

Continually promote a strong sense of teamwork and a commitment to mentoring others. Develop technical and behavioral skills by continually evaluating, coaching and mentoring BSA/AML Risk Management staff to enhance their individual professional development as well as the overall expertise of the collective team. Conduct annual performance evaluations and provide opportunities and guidance for staff to assist them in the achievement of their professional and personal goals. Perform hiring, promoting, and termination activities as necessary, subject to approved budgets.

BSA/AML Risk Management Budget:

Prepare a departmental Annual Operating Plan (AOP), to complement the overall ERM function, monitor actual versus budgeted expenses to ensure expenditures stay within or under budget. Effectively utilize monetary resources to support the highest standards of professional work. Continually evaluate means to balance cost containment with maintaining high-quality standards and skilled professionals.

Internal/External Auditors, Regulatory Examiners, Attorneys, and Law Enforcement:

Share information and documentation as applicable to external auditors, regulatory examiners, attorneys and/or law enforcement agencies to assist in the completion of audits, exams, legal matters, and investigations as it relates to BSA/AML/OFAC Compliance Risk Management practices and function.

VyStar Excellence Behaviors:

Demonstrate the following VyStar Excellence behaviors in performing the duties and responsibilities of the job.

• Focus - Focus your full attention by carefully listening to and observing your client or member.
• Connect - Consistently be friendly and approachable. Demonstrate you care.
• Understand - Listen empathetically and ask questions (70%:30%)
• Counsel - Recommend solutions based on your client's or member's needs and objectives.
• Advance - Ensure that member's expectations were exceeded. Verify necessary follow-up action.

Values and Goals:

Exhibit the Values of VyStar in all activities and support our key goals.

• Integrity, Trust, Respect, Caring, Courage, Dedication, Loyalty
• Quality Service is our Most Important Goal.
• Employees are our Most Important Asset.

JOB QUALIFICATIONS

EDUCATION

Bachelor's degree or 10 years of related experience is required

EXPERIENCE

• 10 years of BSA/AML/OFAC compliance experience in the financial industry. Must have progressive experience in identifying and evaluating existing and emerging BSA/AML/OFAC compliance risks.
• Must have a minimum of 5 years of progressive experience leading teams, providing direct oversight and mentoring of assigned staff, which includes selection, training, counseling, evaluations, and compensation decisions.

KNOWLEDGE, SKILLS & ABILITIES

• Detailed knowledge of applicable financial services laws, rules, and regulations, including best practices, BSA/AML/OFAC risk management frameworks, methodologies, and practices.
• Highly developed written and verbal communication skills, including the ability to build rapport and professionally interact at all levels within the organization, able to constructively challenge and convey appropriate laws, rules and regulatory boundaries.
• Proficient analytical skills, thorough and accurate, able to identify key issues, interpret information and present recommendations and conclusions in a self-confident, clear, and concise manner. Self-motivated with the ability to multi-task and meet established deadlines consistently.
• Strong Word and Excel skills as well as other applicable software applications.

CERTIFICATONS

• Professional compliance and/or BSA/AML certification(s) (e.g., NCCO, CRCM, ACAMS, etc.).
• Maintain necessary continuing professional education hours to retain professional license and/or certification(s) and continuously build individual knowledge.
• Participate in related professional organizations to maintain a professional network.

DISCLAIMERS AND WORK ENVIRONMENT

Nothing in this position description is an implied contract for employment. The position description is intended to be an accurate account of the essential functions. The functions are not all encompassing and are subject to change at any time by management.

The work environment characteristics described are representative of those that an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

As required or requested, may exert up to 20 pounds of force occasionally and/or a negligible amount of force constantly to lift, carry, push, pull or otherwise move objects.