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Chief Compliance Officer/Head of Correspondent Banking

Company: Infinity Consulting Solutions, Inc.
Location: White Plains
Posted on: January 18, 2023

Job Description:

Chief Compliance Officer/Head of Correspondent Banking
180000.00 - 225000.00

Summary objective of the job:
The Chief Compliance Officer/ Head of Correspondent Banking is responsible for coordinating and monitoring day-to-day BSA/AML compliance and should be fully knowledgeable of the BSA and all related regulations. The Chief Compliance Officer/ Head of Correspondent Banking should also understand 's the firm's services, customers, entities, and geographic locations, and the potential money laundering and terrorist financing risks associated with those activities.

This person is also charged with managing all aspects of the BSA/AML compliance program for the firm including managing the Bank's adherence to the BSA and its implementing regulations in its respective jurisdictions. Chief Compliance Officer/ Head of Correspondent Banking is also responsible for supervising the onboard, review and monitoring of Foreign Correspondent Banks, OFAC screenings, and opening of international accounts associated with the new service recently approved by the Board of Directors. This person must exercise discretion and independent judgment when dealing with the day-to-day responsibilities of the department and ensuring that all reports, analysis and due diligence performed meet the expectations of the firm's BSA/AML program.

The Chief Compliance Officer/ Head of Correspondent Banking shall be fully acquainted with the provisions of the BSA. It is imperative for the Chief Compliance Officer/ Head of Correspondent Banking to stay informed on the subject.

The Chief Compliance Officer/ Head of Correspondent Banking will regularly inform the Board of Directors and senior management of the following:


  • Status of corrective actions taken related to identified compliance deficiencies
  • Status of training, including topics and attendance
  • High-risk customers
  • Exempt customer trends
  • SAR filings
  • Number of alerts generated on the Bank's automated surveillance monitoring system
  • Number of cases created from alert generated on the automated surveillance monitoring system

    Job Duties


    • Responsible for administering, maintaining, coordinating and monitoring the Bank's day-to-day compliance with BSA/AML/OFAC/CDD/EDD/KYC/FinCEN/USA Patriot Act, AMLA 2020 and related laws, regulations, policies, programs, initiatives, rules and reporting requirements in USA.
    • Responsible for managing, administering, and enhancing all aspects of the BSA/AML/OFAC monitoring systems, including making sure that appropriate parameters are in place to identify suspicious activity. Monitoring systems include both system reporting, automated account monitoring software as well as sanction system.
    • Ensure that all required regulatory reporting is conducted in a timely, accurate, complete and compliant manner, including but not limited to the timely and properly completed submissions of Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) to FinCEN as well as FinCEN 314(a) and 314(b) procedures and reporting (if applicable).
    • Maintain an effective CDD/EDD risk rating and monitoring program to include initial and ongoing assessments, and review and analysis of unusual/suspicious account activity.
    • Act as a liaison for State and Federal examinations and internal and external independent audits of the Bank's BSA/AML/OFAC compliance programs; responsible for responding to exam and audit findings, and overseeing the corrective action of any related compliance deficiencies or violations.
    • Responsible for maintaining and updating the BSA/AML/OFAC policies and procedures and seeking approval by the Bank's Board of Directors.
    • Performs various other duties and special projects as assigned.

      Other Qualifications


      • Strong Knowledge of bank regulations
      • Strong Knowledge on Foreign Correspondent Banking
      • Ability to multi-task, prioritize and work efficiently
      • Excellent communication skills with all staffing levels and clients/customers
      • Excellent leadership skills
      • Ability to work with all levels of management
      • Handle confidential information appropriately
      • Manage multiple staff of BSA Analysts, Specialists and Assistant BSA Officers.
      • Ability to work independently, self-starter, energetic
      • Ability to travel as needed
      • Bilingual required (Spanish, English)


        Education: Bachelor's Degree in Accounting/Finance/General Equivalency Diploma with adequate banking experience. Master's degree a plus.
        Certification: AMLCA, ACAMS, Sanctions, Correspondent Banking Certificate (Preferred)
        Experience Desired: A preferred minimum of 12 years of experience in banking with at least ten years in a BSA/AML management role. Strong experience in correspondent banking is a must.


        About Infinity Consulting Solutions
        At Infinity Consulting Solutions our mission is to cultivate successful long term relationships with candidates and clients matching the right candidate with the right client. We believe technology cannot replace the real personal relationships we cultivate. We reject the notion that technology alone is the answer to staffing which is why we our successful partnerships rely on collaboration NOT automation. ICS has been providing flexible staffing solutions for over 20 years in Information Technology, Compliance, Accounting / Finance and Corporate Support. Our staffing solutions include Contract, Temp to Perm and Permanent Placement.
        ICS is an Equal Opportunity Employer.

        *W2 employees of ICS are offered comprehensive benefits including health, dental and vision.

Keywords: Infinity Consulting Solutions, Inc., White Plains , Chief Compliance Officer/Head of Correspondent Banking, Executive , White Plains, New York

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