First Fed
First Fed is a local community bank on an exciting growth trajectory with 17 locations including 12 full-service branches in Western Washington. First Fed was recognized by the Puget Sound Business Journal as a Best Workplace and a Top Corporate Philanthropist. By popular vote, First Fed received awards for Best Bank in The Best of the Northwest , Best Banker in Readers’ Choice by Cascadia Daily News, and Peninsula Daily News named us Best Bank on the Olympic Peninsula. We also received a Best-In-State bank award from Forbes.
For over 100 years First Fed has served our customers and communities throughout the PNW. We’ve donated over $9 million to non-profit organizations in the past 8 years through our foundations, sponsorships, direct donations, and matched employee donations. Our amazing team has volunteered over 25,000 hours in the past 5 years – many by using our benefit of 3 paid volunteer days per year!
We welcome applicants from all backgrounds – our diversity makes us stronger. Join our award-winning team!
Our Values
Optimism: We are positive and decisive. We believe the future will be better than the past. Our attitude demonstrates persistence which leads to success.
Initiative: We are self-starters and find innovative solutions. We are courageous, entrepreneurial, and passionate. We take action for good.
Respect: We include individuals from diverse backgrounds and with different perspectives. We are committed to honoring and serving others.
Growth: We learn and adapt so we can continually improve. We believe in personal growth through grit and determination.
Ownership: We are invested in our endeavors. We are accountable and take responsibility for our actions and decisions.
Position Purpose The BSA and Fraud Officer is responsible for administering, coordinating, developing, implementing, and maintaining all aspects of First Fed’s Bank Secrecy Act Combating the Financing of Terrorism (CFT)/ Anti-Money Laundering, OFAC, US Patriot Act, Bank Protection Act, and the bank’s fraud compliance programs, ensuring a high level of compliance with related laws, regulations, internal policies and procedures and Federal regulatory expectations. This position must be able to independently recognize, develop, and implement cost effective compliance related solutions for the CFT/AML and Fraud programs that align with the Bank’s strategic objectives. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
Essential Functions
Analyzes complex anti-money laundering matters and provides advice and direction to business line areas and to the BSA and Fraud staff.
Works closely with auditors and regulatory examiners on requests related to CFT/AML and Fraud.
Manages the corrective action responses to completion related to audit or exam findings and reports remediation efforts to the Board.
Responds to requests by law enforcement including subpoena requests as appropriate.
Keeps senior management informed regarding compliance issues and elevated risks by providing regular reporting to the Director of Risk and Compliance, the Board of Directors, and Enterprise Risk Management Committee, and others as appropriate.
Ensures the bank’s programs and systems designed for compliance with BSA are proactive to changes in regulation and with changing methodologies and typologies of money laundering, terror financing, and compliance management.
Manages the SAR Committee and provides sound recommendations and detailed documentation on decisions made during committee meetings.
Establishes and maintains an effective Customer Due Diligence/Enhanced Due Diligence (CDD/EDD) program with appropriate risk rating of high-risk customers to include initial and ongoing assessments and reviews providing documentation of the reviews.
Maintains an effective fraud program with ongoing monitoring using a combination of software systems and analysis to protect the bank and its customers from financial loss.
Conducts time sensitive investigations of external and internal fraud against the bank, and against bank customers.
Provides management and the Board with fraud trend reporting that includes the different types of fraud and fraud losses.
Provides recommendations to management on best practices to protect the bank from internal and external fraud losses based upon emerging fraud trends.
CFT Monitoring and Filings:
Ensures all required regulatory reporting is conducted in a timely, accurate, and compliant manner.
Maintains records related to the BSA program providing management with the level of detail required to appropriately demonstrate oversight and governance of the program.
Composes, reviews and files Suspicious Activity Reports (SARs) and conducts follow-up reviews to determine if subsequent SAR filings are required.
Investigates staff reporting of possible suspicious behavior and files SARs as necessary.
Reviews 314(a) and 314(b) procedures and reporting.
Serves as Board appointed Bank Secrecy Act (BSA) Officer, including managing compliance with Combating the Financing of Terrorism (CFT), Anti-Money Laundering rules (AML), and Bank Protection Act regulations.
Collaborates with Human Resources and others as appropriate related to significant or recurring compliance violations including the identification of suspected insider abuse.
Provides guidance and training as appropriate to bank staff and the Board related to BSA requirements as well as underlying laws and regulations.
Conducts CFT/AML/OFAC and Red Flag and ID Theft risk assessments at least annually with consideration to products, services, customers, and geographies that may present CFT/AML/OFAC and fraud related risks.
Manages the Anti Money Laundering software program to ensure that the parameters that are set are appropriate and accurate and manages model quality control assessments and model validations.
Works with other departments on product and system development as the subject matter expert on CFT related requirements.
Maintains and keeps current all policies and procedures related to; CFT, AML, Customer Identification Program (CIP) and Fraud.
Supervises the BSA and Fraud Department staff in the administration and maintenance of the internal control environment and compliance with associated laws, rules, and regulations.
Administers CFT/AML technology resources. Ensures resolution of alerts, investigation of suspected criminal activity, and completes regulatory reporting.
Creates and delivers Board level reporting on the bank’s CFT and fraud related programs and their effectiveness.
Identifies any emerging risks that may have a negative impact on the bank’s BSA program.
Evaluates and recommends software systems, vendors, and related work. Maintains related vendor relationships and service contracts.
Performs other related duties as required or assigned.
Qualifications & Requirements Education Preferred Certifications
Certified BSA / AML Professional (CBAP)
Experience
Minimum of 5+ years directly related experience.
Experience with AML models and a basic understanding of model risk governance.
Experience using Verafin AML software preferred.
Number and Titles of All Positions Supervised Financial Crimes Compliance Manager (1)
BSA Specialist (3)
Physical Requirements The work requires the ability to operate office machines and equipment, such as personal computers, printers, copying machines and telephones. The work requires the ability to communicate clearly with customers, coworkers, and others in person, in writing and on telephones. Work activities involve combinations of sitting/standing for extended periods.
Pay Range
The pay range for this position is $104,582.10 - $177,789.57
The typical hiring range for this position is $104,582.10 – $120,007.96
The incentive plan for this position is the Officer Incentive plan. It is paid out annually.
Employees will be eligible for our benefits package including medical, dental, and vision insurance, paid time off, retirement plans (401k with company match and Employee Stock Ownership Plan), gym membership reimbursement, discounts on our banking products, and more! Additional information on our benefits package can be viewed at https://www.ourfirstfed.com/careers
Equal Opportunity As a community Bank, we know the power in bringing people together from all walks of life. Our communities are beautiful and strong because of their diversity, and it’s important to us that all of our locations reflect the unique diversity of the places we live and work. We are passionate about hiring the very best talent and welcome applicants from all backgrounds.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
First Fed invites all qualified interested applicants to apply for our career opportunities. If you are a person with a disability and need a reasonable accommodation to use our online job search or application tools, please email Human Resources via sierra.stack@ourfirstfed.com or call 360-417-3182. Note: This contact information is reserved solely for job seekers requesting accessibility assistance or accommodation in the application process. Messages left for other purposes may not receive a response.
We are required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
#J-18808-Ljbffr
For over 100 years First Fed has served our customers and communities throughout the PNW. We’ve donated over $9 million to non-profit organizations in the past 8 years through our foundations, sponsorships, direct donations, and matched employee donations. Our amazing team has volunteered over 25,000 hours in the past 5 years – many by using our benefit of 3 paid volunteer days per year!
We welcome applicants from all backgrounds – our diversity makes us stronger. Join our award-winning team!
Our Values
Optimism: We are positive and decisive. We believe the future will be better than the past. Our attitude demonstrates persistence which leads to success.
Initiative: We are self-starters and find innovative solutions. We are courageous, entrepreneurial, and passionate. We take action for good.
Respect: We include individuals from diverse backgrounds and with different perspectives. We are committed to honoring and serving others.
Growth: We learn and adapt so we can continually improve. We believe in personal growth through grit and determination.
Ownership: We are invested in our endeavors. We are accountable and take responsibility for our actions and decisions.
Position Purpose The BSA and Fraud Officer is responsible for administering, coordinating, developing, implementing, and maintaining all aspects of First Fed’s Bank Secrecy Act Combating the Financing of Terrorism (CFT)/ Anti-Money Laundering, OFAC, US Patriot Act, Bank Protection Act, and the bank’s fraud compliance programs, ensuring a high level of compliance with related laws, regulations, internal policies and procedures and Federal regulatory expectations. This position must be able to independently recognize, develop, and implement cost effective compliance related solutions for the CFT/AML and Fraud programs that align with the Bank’s strategic objectives. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
Essential Functions
Analyzes complex anti-money laundering matters and provides advice and direction to business line areas and to the BSA and Fraud staff.
Works closely with auditors and regulatory examiners on requests related to CFT/AML and Fraud.
Manages the corrective action responses to completion related to audit or exam findings and reports remediation efforts to the Board.
Responds to requests by law enforcement including subpoena requests as appropriate.
Keeps senior management informed regarding compliance issues and elevated risks by providing regular reporting to the Director of Risk and Compliance, the Board of Directors, and Enterprise Risk Management Committee, and others as appropriate.
Ensures the bank’s programs and systems designed for compliance with BSA are proactive to changes in regulation and with changing methodologies and typologies of money laundering, terror financing, and compliance management.
Manages the SAR Committee and provides sound recommendations and detailed documentation on decisions made during committee meetings.
Establishes and maintains an effective Customer Due Diligence/Enhanced Due Diligence (CDD/EDD) program with appropriate risk rating of high-risk customers to include initial and ongoing assessments and reviews providing documentation of the reviews.
Maintains an effective fraud program with ongoing monitoring using a combination of software systems and analysis to protect the bank and its customers from financial loss.
Conducts time sensitive investigations of external and internal fraud against the bank, and against bank customers.
Provides management and the Board with fraud trend reporting that includes the different types of fraud and fraud losses.
Provides recommendations to management on best practices to protect the bank from internal and external fraud losses based upon emerging fraud trends.
CFT Monitoring and Filings:
Ensures all required regulatory reporting is conducted in a timely, accurate, and compliant manner.
Maintains records related to the BSA program providing management with the level of detail required to appropriately demonstrate oversight and governance of the program.
Composes, reviews and files Suspicious Activity Reports (SARs) and conducts follow-up reviews to determine if subsequent SAR filings are required.
Investigates staff reporting of possible suspicious behavior and files SARs as necessary.
Reviews 314(a) and 314(b) procedures and reporting.
Serves as Board appointed Bank Secrecy Act (BSA) Officer, including managing compliance with Combating the Financing of Terrorism (CFT), Anti-Money Laundering rules (AML), and Bank Protection Act regulations.
Collaborates with Human Resources and others as appropriate related to significant or recurring compliance violations including the identification of suspected insider abuse.
Provides guidance and training as appropriate to bank staff and the Board related to BSA requirements as well as underlying laws and regulations.
Conducts CFT/AML/OFAC and Red Flag and ID Theft risk assessments at least annually with consideration to products, services, customers, and geographies that may present CFT/AML/OFAC and fraud related risks.
Manages the Anti Money Laundering software program to ensure that the parameters that are set are appropriate and accurate and manages model quality control assessments and model validations.
Works with other departments on product and system development as the subject matter expert on CFT related requirements.
Maintains and keeps current all policies and procedures related to; CFT, AML, Customer Identification Program (CIP) and Fraud.
Supervises the BSA and Fraud Department staff in the administration and maintenance of the internal control environment and compliance with associated laws, rules, and regulations.
Administers CFT/AML technology resources. Ensures resolution of alerts, investigation of suspected criminal activity, and completes regulatory reporting.
Creates and delivers Board level reporting on the bank’s CFT and fraud related programs and their effectiveness.
Identifies any emerging risks that may have a negative impact on the bank’s BSA program.
Evaluates and recommends software systems, vendors, and related work. Maintains related vendor relationships and service contracts.
Performs other related duties as required or assigned.
Qualifications & Requirements Education Preferred Certifications
Certified BSA / AML Professional (CBAP)
Experience
Minimum of 5+ years directly related experience.
Experience with AML models and a basic understanding of model risk governance.
Experience using Verafin AML software preferred.
Number and Titles of All Positions Supervised Financial Crimes Compliance Manager (1)
BSA Specialist (3)
Physical Requirements The work requires the ability to operate office machines and equipment, such as personal computers, printers, copying machines and telephones. The work requires the ability to communicate clearly with customers, coworkers, and others in person, in writing and on telephones. Work activities involve combinations of sitting/standing for extended periods.
Pay Range
The pay range for this position is $104,582.10 - $177,789.57
The typical hiring range for this position is $104,582.10 – $120,007.96
The incentive plan for this position is the Officer Incentive plan. It is paid out annually.
Employees will be eligible for our benefits package including medical, dental, and vision insurance, paid time off, retirement plans (401k with company match and Employee Stock Ownership Plan), gym membership reimbursement, discounts on our banking products, and more! Additional information on our benefits package can be viewed at https://www.ourfirstfed.com/careers
Equal Opportunity As a community Bank, we know the power in bringing people together from all walks of life. Our communities are beautiful and strong because of their diversity, and it’s important to us that all of our locations reflect the unique diversity of the places we live and work. We are passionate about hiring the very best talent and welcome applicants from all backgrounds.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
First Fed invites all qualified interested applicants to apply for our career opportunities. If you are a person with a disability and need a reasonable accommodation to use our online job search or application tools, please email Human Resources via sierra.stack@ourfirstfed.com or call 360-417-3182. Note: This contact information is reserved solely for job seekers requesting accessibility assistance or accommodation in the application process. Messages left for other purposes may not receive a response.
We are required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
#J-18808-Ljbffr