Vice President - Financial Intelligence Unit

Company: SMBC
Location: White Plains
Posted on: January 24, 2023

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