Location: Hauppauge,NY, USA
Join Our Team
For over 70 years, Teachers Federal Credit Union has been committed to guiding members toward building a strong financial foundation today for a better tomorrow. Named one of America's Best-In-State Credit Unions by Forbes Magazine in 2022, Teachers has grown into one of the leading credit unions in the United States. As we broaden our national reach, we will continue to ensure that Teachers is a Best Place to Bank and a Best Place to Work. Teachers offers a variety of exciting career opportunities ranging from part-time and full-time staffers to executive leadership roles.
Summary:
Teachers Federal Credit Union is committed to combating financial crimes and integrating Bank Secrecy Act/Anti-Money Laundering & Office of Foreign Assets Control (BSA/AML & OFAC) regulations and policies into all aspects of the Business and Operational functions. At Teachers, the BSA Department has primary oversight of developing the framework and guiding the strategies to ensure our Business leaders and executives have the tools they need to advance the critical Anti-Money Laundering and Sanctions compliance mission to build resiliency and safeguard the Credit Union and our members.
The BSA Quality Assurance (QA) and Testing Analyst will support the BSA QA and Testing Manager in performing QA reviews of the BSA/AML & OFAC Program ( Program ) and validate that the Program is adhering to regulatory requirements and Teacher's policies and procedures. This includes confirming that the appropriate decisions were made, that any decision made is supported and well-documented; narratives are accurate, complete and comply with regulations and internal policies and procedures; and reports are timely and properly executed in accordance with department standards and identifying areas for improvement within the process and mitigate risk.
Education and/or Experience:
* Bachelor's degree (B.A. / B.S.) in a relevant field required.
* Minimum three years of BSA/AML required, with one year of experience in internal controls, quality assurance, quality control, testing or audit of processes and procedures required.
* Working knowledge of the Bank Secrecy Act, the USA Patriot Act, OFAC regulations, strategies and federal regulatory enforcement policies required.
* Financial crimes certifications (e.g., ACAMS, CAFP, ACSS, etc.) required or able to complete ACAMS certification within first year in role.
* Strong working knowledge of Excel, Word, PowerPoint, Adobe PDF and project-related tools (Smartsheet).
* Familiarity with Verafin and research wires, such as WireXchange preferred, core customer information system (Fiserv/DNA) preferred.
* Excellent organization, written and verbal communications and time management skills.
* Excellent independent research, problem solving and analytical skills with the ability to review large amounts of data and disposition consistently and appropriately.
* Strong documentation skills (particularly with Excel or Word) to clearly articulate testing results.
* Strong statistical and testing skills.
Job Responsibilities:
* Performs testing related to AML, negative news, PEP, sanctions, fraud, EDD, CTR, SAR and other financial crime compliance functions.
* Collects, analyze data and supporting documentation to identify potential BSA/AML, fraud & OFAC risks or issues.
* Documents reviews and maintains the QA testing results, correspondences and remedial actions, when applicable, in a consistent and concise manner.
* Conducts QA testing in accordance to internal standards and expectations and enters QA findings into QA workpapers accurately and timely.
* Escalates and advises management on effective solutions.
* Communicates errors/discrepancies found during testing to the QA & Testing Manager as well as provides responses to requests for explanation from the stakeholder in a timely and courteous manner.
* Partners with internal operations and other stakeholders to remediate deficiencies identified during QA testing and confirm that the corrective action was taken.
* Assists with the preparation of testing and review testing schedules and summarizing metrics for reporting and trend analysis.
* Support compilation of trends in anti-money laundering, staying informed on industry best practices, emerging risks, and changes to applicable BSA/AML and banking regulations.
* Maintains Quality Assurance processes, policies and procedures to enhance the compliance framework.
* Leads or assists with additional duties and responsibilities as assigned.
Benefits of Joining the Teachers Team:
We provide a competitive compensation and benefits package that includes, but is not limited to:
* Paid time off for vacation, personal days, and holidays
* Fully-funded pension plan
* 401(k) company contribution
* Teachers pays 100% of Dental & Vision premium
* Tuition reimbursement is offered to full-time employees
* Exclusive employee discount of 0.96% APR on credit card loans and a 1.00% APR on all other loans through Teachers
The good faith range for this position is $30.77 to $36.92 an hour. This range is an estimate, based on potential employee qualifications and operational needs. The salary may vary above and below the stated amounts, as permitted by applicable law.
All candidates will be subject to a background check, credit check, and drug test to determine employment eligibility.
To learn more about Teachers and to view a full list of our job opportunities please visit
Click here to view: California Privacy Notice
#LI-FJ1