Overview Who We Are 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 has been recognized as a Best Workplace and a Top Corporate Philanthropist by the Puget Sound Business Journal. The bank has received several awards for Best Bank and related categories from local publications and Forbes named us a Best-In-State bank. For over 100 years, First Fed has served customers and communities throughout the Pacific Northwest. We have donated over $9 million to non-profit organizations in the past 8 years and volunteers have contributed over 25,000 hours in the past 5 years, supported by 3 paid volunteer days per year. We welcome applicants from all backgrounds to join our award-winning team. Our Values Optimism: We are positive and decisive. We believe the future will be better than the past, and our attitude demonstrates persistence which leads to success. Initiative: We are self-starters who 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 to continually improve. We believe in personal growth through grit and determination. Ownership: We are invested in our endeavors, 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 (AML), 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 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, the individual must be able to perform each essential duty satisfactorily. Essential Functions Analyze complex anti-money laundering matters and provide advice and direction to business lines and to the BSA and Fraud staff. Work closely with auditors and regulatory examiners on requests related to CFT/AML and Fraud. Manage corrective action responses to audit or exam findings and report remediation efforts to the Board. Respond to requests by law enforcement, including subpoenas as appropriate. Keep senior management informed regarding compliance issues and elevated risks by providing regular reporting to the Director of Risk and Compliance, the Board of Directors, the Enterprise Risk Management Committee, and others as appropriate. Ensure the bank’s programs and systems designed for BSA compliance are proactive to regulatory changes and evolving AML typologies. Manage the SAR Committee and provide sound recommendations and detailed documentation on committee decisions. Establish and maintain an effective Customer Due Diligence/Enhanced Due Diligence (CDD/EDD) program with appropriate risk ratings for high-risk customers, including initial and ongoing assessments and reviews with documentation. Maintain an effective fraud program with ongoing monitoring using software and analytics to protect the bank and its customers from financial loss. Conduct time-sensitive investigations of external and internal fraud against the bank and customers. Provide management and the Board with fraud trend reporting and recommendations on best practices to mitigate fraud risks. CFT Monitoring and Filings: ensure all regulatory reporting is timely, accurate, and compliant. Maintain records related to the BSA program and provide oversight and governance documentation. Prepare, review, and file Suspicious Activity Reports (SARs) and conduct follow-up reviews as needed. Investigate staff reports of possible suspicious behavior and file SARs as necessary. Review 314(a) and 314(b) procedures and reporting. Serve as Board-appointed Bank Secrecy Act (BSA) Officer, including managing compliance with CFT, AML, and Bank Protection Act regulations. Collaborate with Human Resources and others on significant or recurring compliance violations, including insider-risk identification. Provide guidance and training to bank staff and the Board on BSA requirements and related laws and regulations. Conduct annual CFT/AML/OFAC and Red Flag and ID Theft risk assessments considering products, services, customers, and geographies. Manage the AML software program, ensure appropriate parameters, and oversee model quality control and validations. Collaborate with other departments as the subject-matter expert on CFT requirements. Maintain current policies and procedures related to CFT, AML, CIP, and Fraud. Supervise BSA and Fraud Department staff and maintain internal controls and regulatory compliance. Administer CFT/AML technology resources and ensure alert resolutions, investigations of suspected criminal activity, and regulatory reporting. Create and deliver Board-level reporting on the bank’s CFT and fraud programs and their effectiveness; identify emerging risks to the BSA program. Evaluate and recommend software systems, vendors, and related services; maintain related vendor relationships and contracts. Perform other related duties as required or assigned. Qualifications & Requirements Education Four-year degree or equivalent work experience. Preferred Certifications Certified Anti-Money Laundering Specialist (ACAMS) Certified BSA / AML Professional (CBAP) Certified Fraud Examiner (CFE) 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) Fraud Specialist (1) Physical Requirements The work requires the ability to operate office machines and equipment, communicate clearly with customers and colleagues, and may involve sitting/standing for extended periods. Pay Range The pay range for this position is $104,582.10 - $177,789.57. The typical hiring range is $104,582.10 – $120,007.96. The incentive plan is the Officer Incentive plan and is paid annually. Benefits include medical, dental, vision, PTO, retirement plans (401k with company match and Employee Stock Ownership Plan), gym membership reimbursement, and discounts on banking products. More information is available at As a community bank, we value diversity and are committed to hiring the best talent from all backgrounds. Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities. Qualified applicants will be considered without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status. First Fed invites all qualified interested applicants to apply. If you need a reasonable accommodation to use our online job search or application tools, please email Human Resources at or call 360-417-3182. This contact is for accessibility assistance in the application process only. Messages for other purposes may not receive a response. We are required to notify all applicants of their rights under federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor. #J-18808-Ljbffr