Position Title Financial Crimes Compliance Officer
Location Hicksville/100 Duffy Avenue/110025
Job Summary JOB SUMMARY
Responsible for overseeing through developing, implementing, administering, and monitoring all aspects of the enterprise BSA/AML/ and OFAC/Economic Sanctions Compliance Program for a bank with assets in excess of $100 billion. The Financial Crimes Compliance Officer has day to day management duties of departmental staff and is expected to be knowledgeable in all aspects of BSA/AML/ and OFAC/Economic Sanctions programs and technologies, and for reporting on the efficacy of the programs to executive management and the board of directors.
Act as the Bank's Bank Secrecy Act (BSA) Officer. Implement the necessary programs and procedures to ensure compliance with appropriate regulations and that the Bank is protecting itself from being used as a conduit for illegal activity.
Act as the Bank's Office of Foreign Assets Control (OFAC) Officer. Make sure that the Bank has procedures and systems in place to identify, block, and report those names on the government's list.
Develop and maintain the Bank's BSA/AML/OFAC policies and procedures.
Direct anddevelop departmental staff; motivate functional departments to ensure proper adherence with corporate objectives.
Remain proactive in developing programs to meet changing industry and regulatory requirements.
Prepare, monitor and update the Bank's overall Risk Assessment for BSA/AML and OFAC.
Assist BPOs in implementing processes and procedures necessary to comply with regulations.
Provide oversight for Bank subsidiaries and affiliates relating to BSA/AML and OFAC programs.
Work with other areas of the Bank to investigate transactions that are suspicious in nature.
Approve all waived and confirmed suspicious activity cases and resulting SARS.
Responsible for ensuring that all Enhanced Due Diligence Reviews are completed in accordance with policies and procedures including filing of SARS where applicable.
Responsible for the Bank's CIP program and requisite controls to identify exceptions.
Responsible for the Business Account Review Function to ensure that all business accounts have the required documentation.
Overall responsibility for the Vendor Management process for the systems used by the BSA Department including Prime, Banker's Tool Box and BridgerInsight.
Responsible for large Currency Transaction Reporting (CTR) and filing deadlines.
Complete and file required regulatory reports within prescribed deadlines.
Coordinate and assist in the administration of internal audit reviews and regulatory examinations.
Respond to audit and examination findings and take appropriate actions to ensure that any deficiencies are remediated.
Implement quality control practices and procedures, automation, and process improvements.
Provide quarterly reporting to the Board of Directors on the BSA/AML/OFAC Compliance Program.
Maintain the BSA Committee Charter and the Enterprise Risk Management Assessment for the BSA Department.
Chair the BSA Committee and participate on other Bank committees as required.
Oversee the Bank's W-8 BEN processing to ensure all foreign customers have proper documentation.
ADDITIONAL ACCOUNTABILITIES
Performs special projects, and additional duties and responsibilities as required.
Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.
JOB REQUIREMENTS
Required Qualifications:
Bachelor's degree in business, finance or related field.
Minimum of fifteen (15) years of progressive experience in banking operations or other financial services field, with strong emphasis onBSA, AML and OFAC.
Minimum of five (5) years of experience managing a significant size BSA department in a financial institution.
Preferred Qualifications:
Prior experience in a financial institution with assets in excess of $100 billion is preferred.
Additional BSA related training/certification preferred.
Job Competencies:
Comprehensive knowledge and understanding of associated procedures in BSA including EDD, KYC, OFAC, AML, CAMS, etc.
Knowledge of and the ability to develop andmaintain a BSA/AML and OFAC program and assist with any associated examinations.
Computer literate with proficiency in Microsoft Office.
Strong knowledge of Prime Compliance Suite, Bankers' Toolbox, and Miser.
Strong interpersonal skills and a balanced perspective.
Strong organizational and time management skills.
Exercises sound judgment.
Demonstrated ability to effectively lead others in producing high quality results.
Excellent verbal, written and interpersonal communications skills.
Excellent presentation skills.
Physical demands (ADA): No unusual physical exertion is involved.
