International Banking Client
Office Status: Hybrid
- Manage the department’s day-to-day adherence to the BSA/AML/CTF/OFAC and implementation of regulations and internal policies & procedures
- Provide subject matter expertise and guide the establishment of risk mitigating controls commensurate with the banking department’s BSA/AML/OFAC/CTF and other illicit financial activity risk profiles
- Maintain and update compliance procedures as necessary to ensure the processes and practices are in conformance with the bank and other illicit financial activity risk profile
- Maintain open communications with staff by keeping them informed of regulatory updates, changes in internal policies and procedures and others emerging compliance risks, as well as deliver compliance related training to staff tailored to the business units’ BSA/AML/OFAC risks, and staff members’ specific functions/positions.
- Collaborate with the businesses to develop appropriate corrective actions to address internal/external findings and compliance related issues and ensure the timely resolution by projected target dates.
- Regularly update management on the status of ongoing compliance with the BSA/AML /CTF and OFAC sanctions.
- Proactively support the compliance efforts and initiatives, including but not limited to, risk assessment processes that align with the bank and department’s risk profile, as well as compliance technology/system implementations etc.
- Review, evaluate and monitor KYC process and Sanctions check conducted by Account Officers, escalating issues as necessary
- Performs quality assurance on the department’s transactional alerts
- Establish and maintain appropriate alert and unusual/suspicious activities investigation, review processes that promote consistent decisions, adequate investigation & research, as well as complete and detailed documentation
- Represent the department to attend meetings where Bank wide compliance policies, programs, procedures and projects are discussed and/or formulated
- Prepare compliance related metrics to management and respective second lines including but not limited to Monthly Compliance Review Summary
- Inform the Legal & Compliance department Training Team need for additional training and/or policy/procedure enhancements via the annual training needs assessment