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Job Ref: 15121
Salary: $65000 – $200000
AVP/VP BSA Officer (Banking)
Located on-site in Flushing, Queens, NY
Base salary-$65-200k depending on skills and experience
Responsibilities:
Implement BSA/AML/OFAC Compliance Program in the Front Line Unit
- Manage the QNB’s day-to-day adherence to the BSA/AML/CTF/OFAC Sanctions and their implementing regulations, as well as internal policies and procedures.
- Provide subject matter expertise to guide QNB in establishing risk-mitigating controls commensurate with the branch’s BSA/AML/CTF/OFAC Sanctions and other illicit financial activity risk profiles, while maintaining independence.
- Deliver compliance related training to staff tailored to the business units’ BSA/AML/CTF/OFAC Sanctions risks, and staff members’ specific functions roles or responsibilities.
- Collaborate with business units to develop appropriate corrective actions addressing internal/external findings and compliance related issues/observations/exceptions/recommendations, ensuring timely resolution by projected target dates.
- Regularly update LCD Management and senior management on ongoing compliance with BSA/AML/CTF, and OFAC, and other sanctions regulations.
- Proactively support the regulatory change management processes impacting the branch, conduct impact analysis while taking into consideration of the Bank and branch’s risk profile (e.g., products, services, customers, and geographic locations, delivery channels etc.). Enhance process and controls based on the new regulatory updates and address emerging risk indictors or red flags.
- Proactively support the compliance efforts and initiatives; participate in the new product/activity risk assessment processes aligning with the Bank and QNB’s risk profile. Proactively participate in change management process relating to compliance technology/system implementations, and other initiatives.
- Partner with staff in charge of vendor relationship management to ensure adequate third-party risk management from compliance risk perspective throughout the third-party relationship lifecycle.
- Account Review and Transaction Monitoring, Reporting
- SDB (Safe Deposit Box) activities hitting red flags review.
- Remittance transactions Travel rule review.
- Foreign currency exchange activities transactions and foreign check collection review.
- Prepare, review and report compliance related metrics to management and respective second lines, including a Monthly Compliance Review Summary reflecting the overall status of departmental compliance control, existing issues, impact analysis on the relevant regulatory developments, and provide any necessary suggestions for improving compliance risk controls.
- Assist with Legal Subpoena, Summons, Tax Levy, restraining notice, 314(a) and 314(b) requests on behalf of QNB , and prepare relevant supporting documentation on a timely basis.
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Expand compliance knowledge to CRA and Consumer and Regulatory Compliance areas, and support QNB’s compliance program in these areas.
Requirements:
- Bachelor’s degree required; master’s degree preferred
- Minimum 10 years of BSA/AML/CTF/OFAC and other sanctions compliance and risk management experience for VP level; Minimum 4 years of BSA/AML/CTF/OFAC and other sanctions compliance and risk management experience for AVP level
- Experience in CRA and Consumer and Regulatory Compliance preferred
- Experience in financial services required
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BSA or sanctions training and/or certificate.
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CAMS (Certified Anti-Money Laundering Specialist) credential.
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Comprehensive knowledge of U.S. banking regulations and compliance practices with strong emphasis on all aspects of BSA/AML/CTF/OFAC Sanctions Compliance.
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Risk management and handling legal subpoena, tax levy, restraining notices and financial/banking industry knowledge
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