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CCO - AML/ BSA/ OFAC-Boutique Commercial & Consumer Bank.

Company: Howard-Sloan Search
Location: New York
Posted on: November 20, 2019

Job Description:

-The BSA/AML Officer is responsible for developing, implementing and administering all aspects of the Bank's (BSA)/Anti-Money Laundering (AML), Customer Identification Program (CIP) and Office of Foreign Assets Control (OFAC) compliance programs (the Programs), as well as ensuring that all banking activities are performed in compliance with OFAC regulations and the provisions of the Bank Secrecy Act and related laws and regulations. KEY RESPONSIBILITIES: Hands on maintenance of - a system of internal controls, including reviews and monitoring, to ensure ongoing compliance, including the following: - - - Developing, implementing and maintaining compliant risk-based procedures related to the Programs. - - - Ensuring all recordkeeping and retention requirements are met. - - - Providing BSA/AML training to the Bank's staff and Board of Directors and updating training courses, as needed. - - - Full understanding of AML/OFAC Risk Assessment processes, including the development of a corresponding methodology. - - - Experienced in scenario effectiveness assessments, system functionality (including case management) and reporting tools (e.g. metrics, KRIs/KPIs). - - - Ensuring Bank management, staff and the Board of Directors are apprised of emerging issues and regulatory changes. - - - Transaction and activity monitoring for suspicious activity, including managing the Bank's AML system and the alerts it produces. - - - Identifying reportable activity and timely filing Suspicious Activity Reports (SARs). - - - Maintaining the High Risk Customer List and performing High Risk Customer reviews (periodic and event triggered). - - - Maintaining the Bank's Customer Identification Program. - - - Maintaining risk-based Customer Due Diligence, Beneficial Ownership, and Enhanced Due Diligence procedures, and performing related customer periodic reviews. - - - Performing searches and responding to Information Sharing requests related to Sections 314(a) and (b) of the USA PATRIOT Act. - - - Performing OFAC SDN and Consolidated Sanctions Lists searches, investigating potential matches, and ensuring that a proper list management and effective and compliant process, are in place for the accurate and timely reporting of actual matches. - - - Maintaining a thorough knowledge of the Bank's products, services, customers, and geographic locations to understand the potential money laundering and terrorist financing risks associated with those activities. - - - Maintaining a thorough knowledge of the BSA/ AML and OFAC regulations and monitoring related trends, news, emerging issues, and regulatory changes. - - - Complying with regulatory examination and audit documentation requests; and, - - - Cooperating with examiners and auditors. Knowledge and Experience: - - - A minimum of 5-7 years serving as a BSA/AML Officer in a regulated (OCC, FRB) bank. - - - Experienced in performing critical AML program tasks. - - - Experienced in developing and incorporating effective risk-based processes into AML/OFAC program functions. - - - Strong understanding of regulatory requirements and expectations. - - - Understands the challenges in managing a small team. - - - The ability to write reports at a level suitable for senior management dissemination. - - - Ability to handle sensitive information and balance risk management and operational business requirements. - - - The ability to work under pressure in a fast paced environment and to strict deadlines. - - - Good organizational skills including prioritization. - - - Clear communicator, written and verbal, and - - - High level of attention to detail Technical Skills: - - - Proficient in CRM, EXCEL & Word, PowerPoint, and Project - - - Strong familiarity with transaction monitoring systems (e.g. Prime), OFAC systems, scenario effectiveness measures and list management - - - Skilled in performing quantitative AML/OFAC Risk Assessments - - - Experienced in developing and utilizing metrics and quantitative tools to measure productivity, KRIs/KPIs and operational effectiveness Education: - - - Bachelor's degree in related field - required - - - CAMs certification

Keywords: Howard-Sloan Search, New York , CCO - AML/ BSA/ OFAC-Boutique Commercial & Consumer Bank., Accounting, Auditing , New York, New York

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