• BSA/AML Compliance Associate Director or Director, PWM

    ID
    2019-7403
    Job Locations
    US-CA-San Francisco
    Category
    Compliance
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    At First Republic, we care about our people. Founded in 1985, we offer extraordinary client service in private banking, private business banking and private wealth management. We believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued here.

     

    Incredible teams doing exceptional work, every day

    The Financial Crimes Risk Management group consists of anti-money laundering, economic sanctions, foreign corruption, fraud, and corporate security. Our program is designed to ensure protection of our clients, the U. S. financial system, and our country from illicit actors who exploit banking services with nefarious and criminal intent. Our fraud group protects our clients and Bank from losses while the Bank’s physical security team protects our clients, visitors, employees and Bank’s monetary and physical assets.

     

    Common goals, uncommon potential

    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.

     

    What you’ll be doing as a BSA Compliance A/D or Dir, PWM:

    • 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.

     

    You could be a great fit if you have:

    • 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

    Job Demands:

    • Must be able to review and analyze data reports and manuals; must be computer proficient.
    • Must be able to communicate effectively via telephone and in person.

    Own your work and your career — apply now

    Are you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career? If so, then come join us.

     

    We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability — that’s the First Republic way.

     

     


    Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records, to the extent consistent with applicable federal and/or state law.

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