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BSA AML Manager

NEW YORK-10001, NY, US
09/19/2020

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Required Skills

CAMS certification

Company

Infinity Consulting Solutions, Inc

Experience

2 to 5 Year(s)

Job Description

The New York Branch of a FBO is seeking a BSA/AML Manager. The bank does correspondent banking and trade finance.

Reporting To: Deputy CCO

Role Purpose: The BSA/AML Manager administers an effective BSA/AML program for the New York Branch.

He/she manages the BSA/AML team, ensuring client activity complies with regulations, policies, and procedures.

Key Responsibilities (but not limited to):

Oversee BSA/AML customer transaction monitoring function, including assigning alerts to BSA/AML analysts, providing guidance and support to analysts, and addressing and escalating issues to the Deputy CCO, if needed.

Oversee the submission of Suspicious Activity Reports (SARs) for confirmed suspicious activity. Review pending exceptions to assure all exceptions are cleared in a timely manner and updating internal records accordingly.

Oversee retroactive transaction reviews, related to previously filed SARs, to ensure that continual (90-day) suspicious activity is filed, consistent with regulatory requirements.

Assist in Quality Assurance reviews of Alerts, Cases and SARs, as necessary to confirm/waive Analysts recommendation.

Assist in developing and maintaining the Branch's BSA/AML program policies and procedures

Work with external and internal auditors, as well as Bank examiners by providing full cooperation and timely delivery of requested documentation and information, track timely closure of all open issues.

Submit reports related to department activity as required to the Deputy CCO

Support the Deputy CCO in delivery of initiatives related to BSA/AML including risk assessments, Client 504, model tuning/validation, etc.

Inform Deputy CCO of any potential shortfalls related to BSA/AML and identify opportunities for improvements within the overall process.

Liaise with other teams within Compliance, as necessary, to ensure the effective administration of the
BSA/AML program.

Ensure team is acting in accordance with all regulatory requirements and internal policies and procedures

Assist OFAC Officer by providing backup processing and Prime Profile Case Review, as appropriate

Perform other compliance-related duties as requested.

Skills, Experience and Qualifications:

Ideal candidate should have:

Bachelor's degree in related field (business, accounting, etc.).

Five (5+) plus years' experience in Financial Services

2+ years of experience managing a Compliance team

Familiarity with U.S. BSA/AML Laws/Regulations

CAMS certification preferred

Strong understanding of Corporate Banking and Financial Institutions business and relevant products/services (e.g. Letters of Credit, Trade Finance, Clearing)

Ability to understand changes to BSA/AML laws and regulations and report impact of changes to senior management.

Proficiency in Word, Excel and PowerPoint.

Superior written and verbal skills to communicate with senior management and staff.