Summary: The Chief Compliance Officer oversees the day-to-day BSA/AML responsibilities within the Compliance Department, and is accountable for the Department's performance as a whole. Responsibilities will include but are not limited to:
Creating and maintaining a comprehensive Compliance Program featuring an AML/KYC Policy, a Risk Assessment, Training, and Independent Testing
Keeping compliant with all applicable regulations
Regularly reading about new regulations in relevant jurisdictions and adjusting the Program accordingly
Managing employees and setting KPIs/deadlines
Automating the Department's manual tasks
Reviewing and investigating alerts/high risk accounts, identifying suspicious activity, and performing enhanced due diligence on customers and accounts
Interpreting company's policy/procedures pertaining to compliance and BSA/AML/OFAC, keeping up to date on regulations, and ensuring timely reporting of all activity
Duties of the position will include, but are not limited to:
Acting as a resource to all coworkers with regards to understanding compliance requirements and how they affect products and services
Conducting enhanced due diligence for customers at on-boarding and periodically throughout the duration of the relationship
Making sure new account registrations comply with relevant laws, rules and regulations
Assisting with or conducting transaction testing, data validation, and ongoing customization of monitoring systems
Conducting comprehensive investigation reviews of customers by utilizing KYC information, occupation, line of business, income sources, and transaction activity as identified by the Risk Assessment/system platform triggers
Utilizing data to research and build a case for suspicious activity
Identifying high risk activity, relationships, and accounts based on KYC tiers
Assisting in preparation for internal audits or bank partner examinations
Reviewing and contributing to compliance training materials for staff.
Participating in meetings with coworkers to identify gaps within current practices, and then rectifying the process to assure regulatory compliance
Reviewing and making recommendations for policies and procedures to meet current regulatory expectations and assisting in making updates as regulatory changes occur
Conducting research and data collection for the completion of compliance requirements for new products and services
Required experience
10+ years of experience with Compliance and Regulatory Leadership in the financial services space
Extensive knowledge and experience with compliance regulations including but not limited to Bank Secrecy Act & Anti-Money Laundering (BSA/AML), Patriot Act (CIP), Treasury Office of Foreign Assets Control (OFAC), and FinCEN advisory guidelines regarding Know Your Customer (KYC)/Enhanced Due Diligence (EDD)
Bachelor's Degree
Preferred experience:
CAMS
ACFCS
Seniority level
Entry level
Employment type
Full-time
Job function
Legal
Industries
IT Services and IT Consulting
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