Title SENIOR VICE PRESIDENT/COMPLIANCE AND BSA OFFICER
Start Date 2018-04-11
Location New Jersey
Job Information

(To Apply Please contact Diane Katz at diane.katz@primesoftinc.com)

Location: New Jersey

Type of Position: FT Salaried Employee

Only US Citizens and Green Card Holders (No Third- Party Candidates)

Our Client, a NJ Based Financial Institution has asked us to assist them in their search for an SVP/Compliance and BSA Officer. In addition to serving its general customer base, our Client developed a platform for money service business customers (MSBs), and private wealth customers (Latin/South America Regions). Over time, and due to the nature of the businesses, the bank saw a significant increase in the volume of wire transfers that were issued and received from foreign countries, thus increasing the overall number of names, and countries being screened for sanction purposes.

Summary:

The Senior Compliance Officer is responsible for the review of all aspects of the Bank’s operation to determine if the Bank is in violation of any applicable State or Federal rules, regulations or laws governing the operation of the Bank.

Responsibilities:

  • Establish and maintain the BSA/AML and Consumer Compliance program for the bank, update when applicable to reflect changes in federal and state laws that impact the bank’s operations

  • Evaluate the level of compliance risk inherent in the activities of the bank and the appropriateness of mitigating controls for those risks

  • Providing the Bank’s Board of Directors and the Audit Committee of the Board with regular written reports that include compliance metrics

  • Establish and maintain a Customer Identification Program to include both documentary and non-documentary methods of identifying the customer

  • Ensure timely reporting to senior management and the Board of Directors of significant risk issues, and serious lapses or breaches of laws and regulations applicable to the bank

  • Identify, review and update internal compliance policies, guidelines, procedures and controls to manage the potential exposure to unexpected financial losses

  • Advise the Board; Senior Executive Management; and Department Heads when there are potential regulatory issues in the course of carrying out business activities and transactions

  • Prepare the Annual Compliance Plan that projects the goals, and a risk-based outline of monitoring and testing of regulatory requirements

  • Prepare the annual budget for the Compliance Department

  • Act as liaison officer between the Bank, Regulatory Authorities, and U.S. Law Enforcement Agencies on regulatory matters

  • Serve as Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) Officer with duties including: o Monitor and report on compliance with OFAC guidelines, USA Patriot ACT, Bank Secrecy Act (BSA) and related regulations

  • Maintain compliance related policies and procedures for the BSA Program, Currency Transaction Reports (CTR) and Suspicious Activity Reporting, Compliance Training Program

  • Review and approve all BSA related investigations

  • Ensure that BSA files include supporting documentation, as well as detailed explanations in accordance with regulatory requirements

  • Maintain procedures to comply with Section 314a of the USA Patriot Act

  • Maintain a bank-wide high- risk account program, including monitoring procedures for existing high-risk accounts and new classifications

  • Manage and direct the compliance staff and consultants in carrying out their duties

  • Coordination of the OFAC, and the consumer compliance/protection program for the Bank. Work efforts directed to ensure that applicable programs, policies and procedures of the program comply with BSA/AML/OFAC laws and consumer compliance regulations.

  • Serve as Chairman of the Management Compliance Committee and Operating Platform Committee.

SKILLS, EDUCATION, CERTIFICATIONS AND TRAINING REQUIREMENTS

  • Bachelor’s Degree

  • Master’s Degree (Preferred)

  • Certified Anti-Money Laundering Specialist (CAMS)

  • Certified Fraud Examiner (Preferred)

  • Fluency in English (Spanish a Plus)

  • Previous Employee, Team and Task Force Management Experience

  • Analytical Quality Control Relationship Management Problem Solving Project Management Risk Management Investigations

  • Proficiency in Microsoft Word, Excel, Outlook, Project, PowerPoint, AML monitoring software, Patriot Officer AML monitoring software, Fiserv operating platform, and Fiserv’s WireXchange application.

 

(To Apply Please contact Diane Katz at diane.katz@primesoftinc.com)