Overview
The BSA/AML & OFAC Compliance Team oversees Navy Federal's regulatory compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) laws, and the Office of Foreign Assets Control (OFAC) sanctions laws. These laws help financial institutions and the government combat financial crime and terrorist activity, keeping the financial system and country secure.
We are responsible for filing regulatory reports, such as Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs). We are also responsible for Navy Federal's Customer Identification Program (CIP) and conducting Enhanced Due Diligence (EDD) for any high-risk customers. The BSA/AML Team is a division within the Office of General Counsel at Navy Federal.
The Summer Associate will join a team of high-performing, experienced Data Scientists, Data Analysts, and Systems Analysts that are dedicated to maturing the BSA/AML program. The role will apply data and analytics to improve our effectiveness in identifying suspicious activity, complying with the regulatory requirements, and enhancing member data quality.
The Summer Associate Program is a 12-week internship program beginning in May 2025 and ending in August 2025. Students will work on impactful projects and meaningful work during their internship. To qualify for this position, applicants must be currently pursuing a degree from an accredited college or university and have an anticipated graduation date of December 2025 or later.
Potential Projects:
Analyzing Navy Federal member data quality against BSA/AML and OFAC compliance requirements.
Making recommendations on root cause fixes to improve underlying data quality.
Developing and refining executive reports and dashboards to ensure leaders understand operational status across the teams.
Learning about new patterns in financial crime and developing models to detect those patterns in Navy Federal member activity.
Developing processes and documentation for continuous monitoring of data pipelines to ensure complete, accurate, and valid data in BSA/AML models.
Conducting exploratory analysis by leveraging existing BSA/AML data to uncover insights on Coupons, CTR, SAR filings, and others department's procedures.
Responsibilities
Perform qualitative and quantitative analysis of BSA/AML and OFAC data for operational, compliance, and other business-related purposes
Collaborate with BSA/AML leaders and teams to develop and maintain performance metrics, reports, and dashboards
Obtain quantitative and qualitative data about business processes to analyze, determine and promote data driven decisions and changes to the compliance program
Design and document dashboards, reports, and thresholds to monitor business operations and data pipelines
Build new and/or modify existing database/data warehouse/data mart and business intelligence solutions to meet business and system requirements
Provide recommendations to management to improve compliance with BSA/AML and OFAC requirements
Compile, research and analyze trends in support of projects and initiatives
Qualifications
Studying data analytics, data science, information systems, and/or a related field
Advanced problem solving and resolution skills, including determining root cause, scope and scale of issues
Ability to research, compile, and document data, business processes, and workflow
Ability to present findings, conclusions, alternatives and information clearly and concisely
Ability to analyze business requirements and recommend solutions
Ability to manage multiple priorities independently and/or in a team environment to achieve goals
Developing skills in programming languages, statistical methods, mathematical techniques, cost-benefit analysis, and related analytical tools
Effective verbal and written skills
Knowledge about BSA/AML & OFAC Compliance and Financial Crimes is a plus
About Us
Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.
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Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/Disability
Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team's discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
REQNUMBER: 20656
