Banking Compliance Specialist

OlyFed is seeking a Compliance Specialist to join their team. This position is fully remote, with the requirement to reside in Washington State and attend meetings at the main office in downtown Olympia.

About OlyFed:

OlyFed is known for its high-quality service and commitment to the community. The organization dedicates over 10% of its revenues to community support and values employee involvement in community service.

Role Overview:

The Compliance Specialist will handle compliance functions in alignment with the Bank Secrecy Act and other banking regulations. Responsibilities include research of suspicious activity, ensuring regulatory deadlines are met, and maintaining confidentiality.

Essential Duties & Responsibilities:

• Stay updated on regulations, policies, and industry best practices (e.g., BSA, CIP, OFAC).
• Ensure daily transaction uploads into the monitoring system.
• Research and close alerts, escalate suspicious activity to management.
• Track and monitor cases, ensure regulatory timeframes are met, and report to the Assistant Compliance Manager.
• Monitor CTR and SAR filing deadlines.
• Review high-risk customers and OFAC alerts.
• Ensure compliance with the Expedited Funds Availability Act (Reg. CC).
• Recommend improvements to processes and procedures.
• Obtain BSA/AML and Fraud Prevention course certificates.
• Provide support to the Compliance Department as needed.

Knowledge, Skills, and Abilities:

• Strong understanding of federal regulations and policies, with the ability to apply them independently.
• Ability to work independently with minimal supervision.
• Excellent customer service and communication skills.
• Ability to prioritize workload in a fast-paced environment.
• Exceptional written and verbal communication skills.
• Proficiency in basic computer programs and ability to learn new software.
• Ability to travel to Olympia, WA for meetings.

Qualifications:

• High School diploma, GED, or equivalent skills.
• Two years of banking experience, with an understanding of bank operations.
• Teller and compliance experience preferred.
• Must be bondable.
• Reside in Washington State.

Physical Demands & Work Environment:

• Usual office conditions with standard office equipment.
• Ability to perform repetitive wrist and hand movements.
• Ability to sit or stand for extended periods.
• Occasional lifting of up to 15 lbs.
• Requires manual dexterity and handling ability.
• Use of hands and arms to handle, grab, and reach.
• Vision abilities including close vision and adjusting focus.
• Occasional walking, kneeling, and bending.