First Republic Bank

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BSA/AML Compliance Director, Deposits & Lending

BSA/AML Compliance Director, Deposits & Lending

ID 
2017-5432
Job Locations 
US-CA-San Francisco
Category 
Compliance

More information about this job

Overview

Reporting to the Deputy BSA Officer, the VP BSA/AML Compliance Director is responsible for ensuring corporate policies and processes pertaining to BSA/AML and economic sanctions are implemented through Deposits’ and Lending’s procedures. The incumbent also serves as the liaison between the BSA/AML Department and the lines of business (LOBs) on BSA/AML related activities, projects, and initiatives and provides consultation to the LOB and various groups within the BSA/AML Department. The individual also assists the Policy and Program Office with risk assessments, the development of policies and procedures, and communication with the LOBs on escalated matters. Additionally, this role will manage BSA/AML-related projects as well as internal audits and regulatory examination processes pertaining to Deposits and Lending LOBs.

Responsibilities

  • Responsible for overseeing the BSA/AML and economic sanctions controls as well as implementing procedures from corporate policies that are related to deposit and lending products and services as well as applicable BSA/AML related processes in Deposits and Lending functions
  • Serve as subject matter expert to the LOB and BSA/AML groups, including but not limited to the enterprise risk assessment; monitoring strategies; new products/services, vendor, and project reviews; issues management; and action plans in response to Quality Control and Testing, internal audit, and examination findings
  • Provide guidance on day-to-day BSA/AML related compliance matters which include but not limited to providing clarification on policy guidelines, advising the LOBs on potential high-risk clients, and providing guidance on new or proposed BSA/AML related rules and regulations
  • Ensure any BSA/AML compliance issues are escalated promptly
  • Serve as liaison among Lending, Deposits, Deposit Services, and the BSA/AML Department on BSA/AML related activities, projects, and initiatives (e.g., exam, audit, and QCT; KYC; beneficial ownership; etc.)
  • Coordinate and assist with the development of the quarterly LOB reports and communicate the metrics, trending, policy violation/exception, etc. to the LOB executive management teams
  • Assist the LOBs to determine appropriate remedial actions when internal control deficiencies are identified through the risk assessment, internal audit, examination, QCT, or self-identified by the LOBs
  • Attend regular LOB staff meetings to ensure active communication between the LOBs and the BSA/AML groups
  • Stay abreast on the development of the corrective actions implemented by the LOBs
  • Provide managerial support to the team members
  • Perform duties and responsibilities specific to department functions & activities and as required or assigned by the Deputy BSA Officer

Qualifications

Key Skills, Knowledge and Abilities:

  • Minimum of ten years in banking experience
  • Minimum of seven years in direct BSA/AML experience
  • Comprehensive knowledge and understanding of deposit and lending products and services, including commercial banking, private equity, marine, entertainment industry, cash vault, and remote deposit capture
  • Strong working knowledge of the laws and regulations applicable to money laundering, including the BSA, USA PATRIOT Act, and OFAC requirements, and Suspicious Activity Reporting requirements
  • Strong analytical, problem solving, communication (written and verbal), organizational, and interpersonal skills
  • Proficient to advance skills in Excel and online research systems.
  • Punctual and ability to complete tasks on time as well as ability to multi-task and respond to multiple priorities timely
  • Independently takes initiatives with minimum guidance and supervision, be a self-starter
  • Ability to build strong relationships with cross-functional teams at different levels
  • Bachelor’s degree or higher
  • Able to travel when needed
  • Vision must be sufficient to read data reports, manuals and computer screens.
  • Hearing must be sufficient to understand a conversation at a normal volume, including telephone calls and in person.
  • Speech must be coherent to clearly convey or exchange information, including the giving and receiving of assignments and/or directions.
  • Position involves sitting most of the time, but may involve walking or standing for brief periods of time.

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