Vice President - Financial Intelligence Unit
Company: SMBC
Location: White Plains
Posted on: January 24, 2023
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Job Description:
OverviewWithin the Financial Crimes Prevention Unit, Financial
Intelligence Unit (FIU) is responsible for the monitoring and
investigation of all post-account opening and the examination of
potentially unusual activities. Reporting to the FIU Director, the
FIU VP is responsible for the day-to-day compliance efforts related
to transaction surveillance, including the completion of assigned
activities in accordance with regulatory requirements Bank Secrecy
Act/Anti Money Laundering/Office of Foreign Assets Control
(BSA/AML/OFAC) and SMBC policies and procedures.The FIU VP assists
the Director with the day-to-day execution of the department and
its activities. The position draws upon experience and sound
judgement to guide the team regarding the execution of transaction
reviews. FIU VP can make determinations regarding surveillance
activities, when appropriate, and escalate matters of concern to
the next level of management. Position is second point of
escalation for complex transactions. Number of direct reports: up
to 4. Number of indirect reports: up to 30.ResponsibilitiesPRIMARY
RESPONSIBILITIES:Ensures the FIU staffs' compliance with all
regulatory practices outlined by BSA/AML/OFAC including Suspicious
Activity Reports (SARs), the adherence to Bank policies and
procedures, and the timely and successful completion of all
surveillance-related transactions.Ensures the performance,
development and ongoing training of all assigned teams and ensures
the team's understanding of compliance with all policies and
procedures outlined by BSA/AML/OFAC regulations including
SARs.Assists with managing employee relation matters, workforce
planning, performance management, and mentorship for all in scope
members.Assists in evaluating improvements to the processes and
systems that are used in the processing of transaction
monitoring.Ensures that evidence and proper documentation and
rationale for alerts and case investigations are memorialized in
the case management system and the appropriate shared folders. Can
provide recommendations for the escalation of investigations for
SAR filing consideration to the Director.Ensures that alert and
case investigations are completed in accordance with Bank's policy
and current BSA/AML/OFAC regulations.Assists with ensuring
communication process for sharing information with relationship
managers, external entities, head office and other branches or
subsidiaries.Maintains open communication with other SMBC
management for all matters relating to FIU.Assists in reviewing,
monitoring and preparing necessary reports of the department's
daily activities.Assists in drafting communications and provides
documentation as required in response to inquiries from internal
and external auditors, bank departments, and regulators.Assists in
ensuring business continuity under all conditions, sometimes
adverse, with strict adherence to established guidelines and
deadlines.CRITICAL JOB KNOWLEDGE AND CORE
COMPETENCIES/SKILLSExpert-level understanding of legal aspects and
recordkeeping requirements of banking regulations relating to money
transfer (especially AML, BSA, OFAC, USA PATRIOT Act).Expert-level
knowledge of market practices related to foreign and domestic money
transfers; working knowledge of OFAC.Expert-level knowledge of
banking policies, statutory and compliance regulations.Strong
understanding of criminal typologies in financial
institutions.Expert knowledge of systems related to AML
monitoring.Strong leadership skills; ability to direct staff and
workflows in accordance with bank standards and practices.Strong
sense of urgency and accountability; ability to execute in a high
-pressure and time-sensitive environment.Strong presentation and
communication skills.Strong interpersonal
skills.QualificationsCRITICAL JOB KNOWLEDGE AND CORE
COMPETENCIES/SKILLSExpert-level understanding of legal aspects and
recordkeeping requirements of banking regulations relating to money
transfer (especially AML, BSA, OFAC, USA PATRIOT Act).Expert-level
knowledge of market practices related to foreign and domestic money
transfers; working knowledge of OFAC.Expert-level knowledge of
banking policies, statutory and compliance regulations.Strong
understanding of criminal typologies in financial
institutions.Expert knowledge of systems related to AML
monitoring.Strong leadership skills; ability to direct staff and
workflows in accordance with bank standards and practices.Strong
sense of urgency and accountability; ability to execute in a high
-pressure and time-sensitive environment.Strong presentation and
communication skills.Strong interpersonal skills.7 to 10 years of
years of specialized experience in Financial Services, Compliance,
Payment System or Money Transfer preferred 5 years in
management.BA/BS (or equivalent experience) & CAMS preferred.Job
Locations US-NY-White PlainsPosting Date 1 day ago (1/17/2023 9:43
AM)Career Category Compliance and LegaliCIMS ID 2023-14329Corporate
Title VPType Fulltime-Regular (Exempt/Non-Exempt)SMBC is an EO
employer M/F/Veteran/Disability
Keywords: SMBC, White Plains , Vice President - Financial Intelligence Unit, Executive , White Plains, New York
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