First Republic Bank

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BSA/AML QC & Testing Director

BSA/AML QC & Testing Director

ID 
2016-2172
Job Locations 
US-CA-San Francisco
US-CA-Newport Beach
US-CA-Los Angeles
US-MA-Boston
US-NY-New York
Category 
Compliance

More information about this job

Overview

First Republic is an ultra-high-touch bank that provides extraordinary client service. We believe that one-on-one interactions build lasting relationships. We move quickly to serve our clients’ needs so that their financial transactions are handled with ease and efficiency. Client trust and security are paramount in our line of business. Ultimately, our goal is unsurpassed client satisfaction which will lead to personal referrals – our number one source of new business.

 

We recognize that our competitive advantage starts with our people and our culture. At First Republic, we work hard and move quickly as a very coordinated team. If you are looking for an opportunity to grow and contribute in a fun, fast-paced environment, First Republic is the place for you. We have exceptional people focused on providing extraordinary service.

 

 

Reporting to the VP of QC & Testing within the BSA/AML department, the QC & Testing Director will be responsible for independently conducting complex quality control reviews covering all facets of the Bank’s BSA/AML, Sanctions, FCPA compliance and fraud programs. As part of the second line of defense function, the QCT Director will design and execute the review coverage based on review objectives, risks, and regulatory requirements.

Responsibilities

  • Autonomously, accurately, and effectively conduct BSA/AML, sanctions, FCPA, and fraud related quality control reviews across different products and services. Reviews include Enterprise level, business or support units, and bank subsidiaries.
  • Assess compliance with BSA/sanctions related regulations and established Bank policies and procedures and identify any potential and emerging BSA/sanctions/fraud risks or issues.
  •  Identify risks and related controls as well as test and evaluate processes and controls effectiveness.
  •  Perform special reviews or projects, if necessary.
  •  Maintain a current awareness and understanding of the regulatory environment and a working knowledge of regulations related to BSA, sanctions, and FCPA.
  •  Assist in preparation for regulatory examinations and other duties as assigned.

Qualifications

  • Minimum of 5 years in BSA/OFAC regulatory compliance examination, audit, and/or second line of defense testing experience.
  • Ability to work independently and as part of a team, organize tasks efficiently, and perform QC testing function accurately.
  • Extensive knowledge of BSA/AML and sanctions laws and regulations as well as background in internal controls, risk management, and best practices.
  • Ability to review regulatory requirements or guidance and analyze information to develop testing methodology and sampling plan and test scripts.
  • Ability to apply technical knowledge, such as analytical/judgment skills and critical thinking, with minimal guidance.
  • Strong analytical skills to identify, document, present, and report issues.
  • Ability to quickly grasp and understand varying Bank products and services and how they may be exploited for money laundering or terrorist financing activities and financial crimes.
  • Positive attitude, strong work ethic, and professional.
  • Problem solving skills with proven ability to turn findings into executable plans.
  • Ability to interact effectively with all levels of management and establish collaborative relationships with business partners.
  • Strong written and verbal communication skills.
  • Working knowledge/experience in Private Banking, brokers/dealers, private equity, hedge funds, and venture capital is a plus.
  • Operate effectively under pressure and ability to meet deadlines and multitask.
  • Professional certifications preferred (i.e. ACAMS certification, Certified Internal Auditor, Certified Fraud Examiner)

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