Job Description

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. 

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.

Our approach to careers is simple yet powerful: Make our mission your passion.

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• Computerworld® Best Places to Work in IT
• Forbes® 2024 America’s Best Large Employers
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• Fortune Best Workplaces for Millennials™ 2023   
• Fortune Best Workplaces for Women ™ 2023       
• Fortune 100 Best Companies to Work For® 2024
• Military Times 2023 Best for Vets Employers
• Newsweek Most Loved Workplaces 
• Ripplematch Campus Forward Award - Excellence in Early Career Hiring
• Yello and WayUp Top 100 Internship Programs

From Fortune. ©2024 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, Navy Federal Credit Union.

Equal Employment Opportunity: Navy Federal values and celebrates diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected Veteran.

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.

• 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

• 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