VP, Fraud & BSA

Chevron Federal Credit Union is one of the top-run credit unions in the country – and one of the largest, with $4.8 billion in assets. Yet our corporate culture is not stuffy: the Team Spirit Committee runs fun activities and charitable events throughout the year, and work-life balance, mutual respect, diversity, and providing a voice for every employee are all important to us. As you might imagine, we provide competitive pay and great benefits, including:

• Bonus/incentives for all regular employees
• 401(k) with 8% company contribution
• Medical, dental, and vision insurance for employees and dependents paid at 80%
• PTO and paid sabbaticals
• Tuition reimbursement

GENERAL SUMMARY

The Vice President, Fraud & BSA, is responsible for leading the Credit Union’s Fraud, Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) programs. This role is critical in safeguarding the Credit Union’s members, brand, and reputation by preventing fraud, minimizing member impact, and reducing operational losses.

As the designated BSA and OFAC Officer, this position requires comprehensive expertise in the Bank Secrecy Act, USA PATRIOT Act, AML Act, OFAC regulations, and all related compliance requirements. The VP ensures the Credit Union maintains a strong and proactive financial crimes risk management framework aligned with regulatory expectations and industry best practices.

Position Duties & Functions

Program Strategic Planning

• Develops annual department strategic plan, goals and objectives, policies, procedures, resource requirements, and budget consistent with the strategies and objectives of the Credit Union.
• Implements department policies, rules and strategies that minimize losses and member friction when a member interacts with the Credit Union across all channels (branch, mobile, online, phone, mail, etc.) and product lines.
• Provides leadership and coordination in the protection of all product lines, channels, and payment systems across the Credit Union to include, but not limited to checking, savings, loans, credit and debit cards, and all associated payment systems such as wire, ACH, ATM and card networks.
• Provides fraud prevention direction for major initiatives, new products or services, related integrations, vendor management, and large system/process improvements.
• Regularly interacts with federal regulators, law enforcement, senior management, and the Board of Directors to sell the vision and instill trust and confidence that the Credit Union’s brand and reputation is protected against fraud risks efficiently, while balancing member experience.

Fraud, Bank Secrecy Act, Anti-Money Laundering, and OFAC Program Oversight

• Oversees the enhancement and performance of the Credit Union’s fraud, BSA, AML, and OFAC programs to include establishing and monitoring key pillars of fraud detection and prevention, enhancing fraud response, refining key performance indicators, and updating fraud reporting templates.
• Provides strategic oversight of fraud prevention and detection related business controls and ongoing self-assessment and validation across all channels, products, and payment systems.
• Monitors daily and weekly fraud loss trends and rule performance across all money movement channels; responsible for analyzing data, identifying emerging fraud patterns, and implementing timely and effective controls to mitigate risk and minimize losses.
• Manage all third-party relationships within area of responsibility.
• Oversee and manage all BSA and fraud-related systems configurations and alert settings across onboarding, authentication, and money movement channels; ensures systems are regularly updated and optimized to enhance fraud prevention controls.
• Approves the content and delivery of fraud, BSA/AML, and OFAC training materials for employees, Board of Directors, and members to ensure compliance with regulations.
• Serves as the final reviewer of Suspicious Activity Reports, Currency Transaction Reports, and any other BSA required reports and ensures reports are provided to applicable government and law enforcement agencies within the required timeframes.
• Ensures alerts are reviewed and researched in a timely manner, investigations are conducted thoroughly using all available internal and external resources, cross-departmental fraud workflows are being resolved efficiently and completely, and cases are being resolved and closed in a timely manner and with proper follow up and in compliance with regulations
• Uses data and analytics to manage fraud false/positive ratios and detection rates that balances fraud risk with member experience using a fact-based data driven approach.

Reporting and Analysis

• Approves the performance and documentation of an annual review of the fraud, elder abuse, and the Identity Theft Red Flags programs.
• Provides standard reports as scheduled to:
  • Board of Directors
  • Accounting department
  • External parties as required
  • Senior leadership
  • Month-end, quarter-end, etc.
• Prepares and leads Enterprise Risk Management committee discussions regarding fraud program performance.
• Prepares presentations for senior management that include analytics, alert trends, fraud losses, member impact, and root causes on program performance and areas of potential risk and/or opportunity.
• Remains prepared to speak to senior management and/or any board committee regarding current program performance, fraud losses, and relevant underlying factors.

Other duties as assigned

POSITION REQUIREMENTS

EXPERIENCE and EDUCATION

• 10 years of professional experience with at least 6 years of experience in BSA/AML compliance and investigations, fraud prevention and detection, and/or sanctions compliance.
• Experience implementing and maintaining BSA and fraud prevention systems, including rule set development, testing, and tuning to reduce false positives; utilizes large data sets, machine learning, and artificial intelligence to enhance detection accuracy and ensure continuous system optimization.
• Experience managing teams and driving performance and process improvements.
• Demonstrated analytics skills required.
• 4-year college degree or the equivalent education and/or experience.
• Any one or more of the following certifications or their equivalent is preferred: CAMS, CFE, CFCS, CRCM, CGSS.
• Equivalent combination of education and experience may substitute for stated qualifications.

KNOWLEDGE and SKILLS

• Advanced knowledge of all BSA/AML regulations.
• Advanced knowledge of BSA/AML, OFAC, and fraud risk management requirements and best practices and the ability to articulate those clearly to varying audiences.
• General knowledge of Credit Union and/or consumer banking products, operations, and functions.
• Ability to write and speak effectively in English using correct spelling and grammar.
• Basic math skills including the ability to compute rates, ratios, and percentages using a 10-key.
• Proficient in the use of basic applications in a Windows-based environment, including Outlook, Word, and Excel. Moderate keyboard skills at 40 wpm.
• Excellent customer service skills.

COMPETENCIES

• Ability to learn quickly and adapt to change; ability to quickly learn specialized applications and systems.
• Initiative and self-direction.
• Ability to effectively communicate and collaborate with people at all levels.
• Sound problem-solving and decision-making ability, including the ability to prioritize.
• Ability to understand and align with our core competencies through daily projects and tasks:

Growth Mindset

Diversity & Inclusion

Communication

Change Ready Leadership

Responsibility

Problem Solving

Tech & Data Savvy

CU Business Acumen

PHYSICAL DEMANDS

• Work involves extensive use of computers, up to eight hours per day. Appropriate vision, dexterity, and other physical abilities are required.
• May include occasional pushing, pulling, or carrying objects weighing up to 20 pounds.
• Must be able to speak and present on the telephone and/or through digital means of communication, including but not limited to Zoom/Teams/or other video technologies.

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or expression, pregnancy, age, national origin, disability status, genetic information, protected veteran status, or any other characteristic protected by law. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

SALARY AND BENEFITS:

Salary is based on qualifications and geographical location (Zone). Benefit information can be located on our Careers page here: https://www.chevronfcu.org/about-us/careers

Zone 1: $130,192.00 - $195,288.00

Zone 2: $118,474.72 - $177,712.08

Zone 3: $109,361.28 - $164,041.92

Zone 4: $104,153.60 - $156,230.40

EQUAL EMPLOYMENT OPPORTUNITY STATEMENT:

Chevron Federal Credit Union (CFCU) is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, veteran status, disability, sexual orientation, gender identity, or any other protected status. CFCU participates in E-Verify.

If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process or are limited in the ability or unable to access or use this online application process and need an alternative method for applying, you may contact us at 800-232-8101 for assistance.

CFCU Is CPRA Compliant for California Employees and Applicants, to review the Notice at Collection, click here. To submit a request, please refer to the Careers page for the CPRA Request Form.

Originally posted on Himalayas

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