Compliance and Fraud Manager (Onsite)

The Compliance and Fraud Manager is responsible for the overall management of Frontwave Credit Union’s Compliance, Fraud, Anti Money Laundering, Bank Secrecy Act (BSA) BSA programs), and Office of Foreign Assets Control (OFAC) programs. The Compliance and Fraud Manager is responsible for the administration, management, and evolution of all aspects of the organization’s Compliance, Fraud, and BSA programs, including USA PATRIOT Act, AML, BSA, Suspicious Activity Reporting (SAR), Cash Transaction Reporting (CTR) and Office of Foreign Assets Control (OFAC) sanctions processes. The Compliance and Fraud Manager is responsible for leadership, innovation, governance, and management necessary to identify, assess, monitor, and mitigate risks related to BSA, AML, fraud, and compliance activities, ensuring adherence to regulatory requirements and internal policies.

 

About Frontwave Credit Union:

Frontwave Credit Union is a member-owned not-for-profit financial institution serving San Diego, Riverside, and San Bernardino counties. Founded in 1952, we have grown to 13 branches with 120,000 members and manage over a billion in assets. At Frontwave Credit Union, we are focused on creating consumer solutions to provide our members and the communities we serve with products and services that enhance the quality of life for our members through exceptional service and the progressive application of technology.

 

What’s In It For You:
Competitive pay, 401k matching, mortgage and auto discounts.
9-27 days of PTO per year (based on tenure) and 11 paid holidays.
Affordable medical, dental, vision health plans, and Flexible Spending Account.
Employee Assistance Program with a variety of services.
Career development, training, and coaching, mentoring; tuition reimbursement up to $4,000/year.
Culture of excellence and continuous improvement.
We strive to be the best place you’ve ever worked!

 

 

Essential Duties and Responsibilities:

Includes the following non-inclusive list. Other duties may be assigned. All duties are to be performed in

compliance with applicable laws, regulations and Credit Union policies and procedures.

 

• Manages the Fraud and Compliance teams and develops processes to mitigate fraud and ensure compliance with financial regulations.
• Develops, implements, and maintains Frontwave’s compliance program to detect and prevent money laundering, fraud, and other financial crimes, and ensures adherence to all related laws and regulations.
• Maintains collaborative business partnerships with all business units to understand and improve core business activities, products, and transactions to ensure compliance and support the organization.
• Acts as a trusted advisor across the organization in supporting Frontwave’s Compliance, Fraud, AML/BSA initiatives, and business objectives.
• Prepares and reviews and ensures timely SAR and CTR filings with appropriate government agencies when applicable, as well as any blocked property reporting.
• Develops and maintains processes, oversight and reporting to ensure SARs are reviewed and filed in accordance with regulatory requirements.
• Maintains a current and in-depth knowledge of BSA, AML, OFAC, and all related regulations, and monitors and the program to regulatory developments.
• Provides effective and considerate feedback to investigators while seeking to understand how to best assist operations in building and maintaining high quality investigations.
• Oversees the Know-Your-Customer/Customer Identification Program (KYC/CIP) and related customer due diligence and enhanced due diligence processes, including beneficial ownership.
• Serves as a subject matter expert on fraud and compliance and optimizes Frontwave’s approach to these areas across the organization.
• Delivers valuable insights and fraud mitigation recommendations in support of business goals.
• Advises on day-to-day compliance matters and serves as an expert resource for internal stakeholders, and provides risk-based advice, drives operational efficiency, manages, and thinks cross functionally.
• Evaluates data to determine efficiencies via technologies, tools, and/or process improvements.
• Works with internal and external auditors, consultants, and regulatory examiners in connection with their review of the fraud and compliance programs.
• Ensures related Policies, Procedures, and practices are examined for compliance with law and regulation and are updated, as necessary.
• Additional duties, as requested or assigned.

Education and/or Experience:                                                       

 

Undergraduate degree or international equivalent

10 years or more banking experience with a demonstrated focus on Operations Compliance, Fraud, and AML/BSA/OFAC.

CRCM, CAMS or BSACS or equivalent certification preferred.

To perform this job successfully, the individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

 

Knowledge, Skills, and Abilities:

 

Strong process and problem-solving skills at both strategic and functional levels.
Advanced knowledge and compliance with all aspects of fraud. compliance, Military Lending Act (MLA), Servicemembers Civil Relief Act (SCRA) and BSA/OFAC, and a wide range of concepts, principles, and practices found in financial institutions.
Highly organized and able to multi-task and manage multiple projects and competing priorities without sacrificing accuracy or efficiency.
Sufficient knowledge to resolve and answer complex compliance questions.
Proficient at finding inconsistencies, detecting patterns, and communicating concerns.
Excellent communication and diplomacy skills, both verbal and written.
Ability to utilize and apply Compliance, Fraud and BSA/AML software platforms.
Collaborative and team-based approach.
Strong decision making and investigative skills, analytical skills as well as problem-solving, and critical-thinking skills.
Understanding of how AML and business units collectively integrate within the AML/BSA/OFAC functions, with the objective to provide oversight and guidance to complex issues that may require analysis of alternative solutions, while considering the business impact to all areas involved.
Adheres to all relevant regulations, laws, and company policies, especially those related to the Bank Secrecy Act, Anti-Money Laundering, and Suspicious Activity Report filing. Monitors transactions for suspicious activities, accurately documents and reports as required by law and by Policy. Ensures compliance through ongoing training and collaboration with the compliance team. Maintains thorough records and assists in audits to address any deficiencies.
 

Salary Range: $89,954.00 - $134,931.00

When joining Frontwave Credit Union, you can expect to be a part of a workforce committed to the following Service Excellence standards:

• We see it. We own it. We get it done.
• We ignite positive experiences.
• We do things right every time.
• We are collaborators - united, cohesive and engaged
• We innovate and evolve.
• We create memorable experiences for life.
• We starts with me.