• BSA/AML Compliance Associate Director or Director, PWM

    ID
    2019-7403
    Job Locations
    US-CA-San Francisco
    Category
    Compliance
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    Reporting to the VP BSA/AML Compliance Director, the Associate Director supports the VP in ensuring corporate policies and processes pertaining to BSA/AML and economic sanctions are implemented through Private Wealth Management’s (PWM’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 will assist 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 PWM LOBs.

     

    • Responsible for overseeing the BSA/AML and economic sanctions controls as well as implementing procedures from corporate policies that are related to  products and services as well as applicable BSA/AML related processes in PWM 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 (QCT), 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 PWM, 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 subject matter expertise support to both internal BSA partners on PWM-related issues, well as to external partners on BSA-related issues.
    • Perform duties and responsibilities specific to department functions & activities and as required or assigned by the VP BSA/AML Compliance Director.

     

    • Minimum of 7 to 10 years direct BSA/AML experience
    • Prior investigations experience, particularly involving private banking or high-net worth clients, preferred
    • 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
    • Comprehensive understanding of key BSA/AML concepts impacting the private wealth management space, including but not limited to those involving low priced securities and securities fraud
    • FINRA licenses, a plus
    • Strong analytical, problem solving, communication (written and verbal), organizational, and interpersonal skills
    • Ability to form networks of positive business relationships that enhance personal and business success with cross-functional teams at different levels
    • 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
    • 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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