Summer Associate Graduate Intern (Bank Secrecy Act/Anti-Money Laundering & OFAC Compliance)

You have goals, dreams, hobbies and things you’re passionate about.

We’re looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them—friends, family and passions. And we're looking for team members who are passionate about our mission—making a difference in military members' and their families' lives. Together, we can make it happen.

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The Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and OFAC team is responsible for maintaining compliance with the BSA/AML and OFAC regulatory requirements, essentially screening transactions and membership relations to identify and report suspicious activity related to money-laundering, terrorist financing, and other criminal endeavors, as well as to identify and prevent transactions with sanctioned individuals and entities. The BSA/AML program supports the Customer Identification Program (CIP), Customer Transaction Reporting, Suspicious Activity Reporting, Enhanced Due Diligence reviews, screening members and sharing information with law enforcement as appropriate. The team is also responsible for enterprise-wide required annual training, as well as targeted training for personnel who play an integral role in ensuring the BSA/AML and OFAC program is performed consistently across NFCU.

Industry improvements and regulatory monitoring in this area has significantly increased in the last few years. BSA/AML monitoring and OFAC sanctions management are an integral part of financial intelligence health. The team is continuously maturing its program, looking to improve its detection, processes, and culture of compliance mindset throughout the credit union.

The Summer Associate Graduate Intern will work in a flexible hybrid or fully remote manner and report to leadership at the Vienna, VA campus. Responsibilities will include analyzing data and industry trends to identify areas of opportunity to then create recommendations to influence decision-makers. The Summer Associate will support projects and process improvement, as well as tactical operational tasks to gain a well-rounded understanding of the BSA/AML and OFAC Compliance Program and its operations. It will be essential for the team member in this position to be a strong independent researcher, be able to pull together data, facts and ideas from multiple locations, and connect the dots from strategy to implementation and tactical operations. 

The Summer Associate Graduate Intern Program is a 10+ week graduate internship program beginning in May 2023 and ending in August 2023. The intention of this program is to hire graduate interns who prove their aptitude into full time roles following graduation. To qualify for this position, applicants must be currently pursuing a graduate or PhD level degree from an accredited college or university with an anticipated graduation date of December 2023 or later.

•   Assess the competitive landscape and emerging BSA/AML and OFAC trends to identify best practices, shifting trends, and areas of opportunity for improvement and innovation

•   Develop recommendations based on data and research for strategic initiatives or program changes to the BSA/AML and OFAC organization which should/could be pursued

•   Develop and present findings/recommendations to management up to and including senior executives

•   Become integrated into and participate in the day-to-day strategy, analysis and operations of the team

•   Support ad hoc processes across the team to understand its foundational operations, including data entry and analysis, sanction screening, and/or project support

•   Currently pursuing a graduate degree in Business Management, Finance, Law, or other related degree

•   Experience with research, analysis, and data manipulation

•   Good communication and presentation skills

•   Ability to work independently and think outside of the box

•   Strong strategic, critical, and analytical thinking skills

•   Basic knowledge of financial services

•   Knowledge of BSA/AML and/or OFAC laws and regulations a plus

•   Strong character/integrity required due to the confidential and highly sensitive nature of work

Hours: Monday - Friday, 8:00AM - 4:30PM

Location: Remote | 820 Follin Lane, Vienna, VA 22180 | 5550 Heritage Oaks Drive, Pensacola, FL 32526 | 141 Security Drive, Winchester, VA 22602

Navy Federal is now hybrid! Our standard enterprise requirement for a hybrid schedule is to report on-site 4-16 days each month. The number of days reporting on-site will ultimately be determined by the employee's leadership and business unit needs. You will learn more throughout the hiring and on boarding process.

Salary Range: $41.00 - $46.00 hourly

Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. Within this range, pay will be determined based on factors such as individual qualifications, location, and market position.

 

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

All employees are expected to follow our COVID-19 safety protocols.

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.

Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.