AML/CFT Manager
About the position
As a federally regulated financial institution, Beacon Bank & Trust (the “Company”) plays an important role in the battle to protect the United States financial system from abuse by criminals. The Company’s Financial Intelligence Unit (“FIU”) is committed to supporting law enforcement efforts to combat serious financial crimes including money laundering and terrorist financing. Within the FIU AML /CFT Team, the incumbent is primarily responsible for managing FIU AML/CFT supporting teams by maintaining the necessary processes and controls in furtherance of the strategic objectives and goals set by the Deputy AML/CFT Officer and AML/CFT Officer, and perform any additional necessary duties supporting the Company’s anti-money laundering programs and compliance with the Bank Secrecy Act (“BSA”) and economic sanctions administered by the Office of Foreign Assets Control (“OFAC”).
Responsibilities
• Manages the FIU AML/CFT support teams responsible for performing transaction monitoring and investigations, customer and enhanced due diligence, currency transaction reporting, suspicious activity reporting, watch list and economic sanctions monitoring;
• Manages and maintains appropriate SAR investigation, review and reporting processes that promote consistent decisions; adequate investigation and research; and complete and detailed documentation;
• Ensures required regulatory reporting is conducted in a timely, accurate, and compliant manner, including the filing of Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) to FinCEN, and FinCEN 314(a) watch list monitoring and reporting;
• Ensures the achievement of AML/CFT support team production goals and standards;
• Proactively manages and identifies opportunities for process efficiency enhancements and proposes possible solutions;
• Provides coaching and guidance to FIU AML/CFT support teams to ensure research, analysis, and documentation comports with FIU quality standards;
• Provides support and guidance to business line partners and FIU AML/CFT teams involving complex BSA and applicable financial crimes matters;
• Develops, crafts and maintains clear, concise, and accurate written procedures, job aids, reference guides and forms aligning with Bank policies and regulatory requirements enabling AML/CFT analysts and investigators to perform their assigned tasks efficiently;
• Executes the duties assigned by the Deputy AML/CFT Officer and AML/CFT Officer to ensure an effective Bank Secrecy Act/Anti-Money Laundering/OFAC Compliance Program aligning with current industry best practice, regulatory guidance and requirements;
• Maintains and integrates substantial knowledge of BSA and OFAC regulations, emerging financial crimes trends, rapidly changing economic sanctions and changes to laws and regulations pertaining to BSA/AML/OFAC/USA Patriot Act;
• Supports the Deputy AML/CFT Officer and AML/CFT Officer with the execution of strategic initiatives and goals to maintain, strengthen and mitigate risks;
• Escalates issues and situations requiring the attention of the Deputy AML/CFT Officer and AML/CFT Officer;
• At all times, preserves the integrity of the Company’s anti-money laundering and economic sanctions policies, procedures, systems and controls.
Requirements
• Associates degree or equivalent experience
• Certified Anti-Money Laundering Specialist (“CAMS”) or equivalent certification required
• Minimum 5 years’ experience in a BSA/AML or sanctions role within a financial institution or similar role
• Substantial knowledge of BSA/AML regulations and requirements including Currency Transaction Reporting (“CTRs”), suspicious activity monitoring and reporting (“SARs”), customer due diligence (“CDD”), Know Your Customer (“KYC”) standards and emerging financial crimes trends
• Comprehensive understanding of products, services and transaction processing channels within a financial institution
• Strong analytic, research and investigative skills necessary
• Excellent prioritizing, time management and multi-tasking skills a must
• Exceptional quality and integrity of work produced within tight deadlines
• Ability to function both independently and within collaborative team environments
• Solid computer skills including the use of Microsoft Office products
• Excellent written and verbal communications skills
Apply tot his job
Apply To this Job
As a federally regulated financial institution, Beacon Bank & Trust (the “Company”) plays an important role in the battle to protect the United States financial system from abuse by criminals. The Company’s Financial Intelligence Unit (“FIU”) is committed to supporting law enforcement efforts to combat serious financial crimes including money laundering and terrorist financing. Within the FIU AML /CFT Team, the incumbent is primarily responsible for managing FIU AML/CFT supporting teams by maintaining the necessary processes and controls in furtherance of the strategic objectives and goals set by the Deputy AML/CFT Officer and AML/CFT Officer, and perform any additional necessary duties supporting the Company’s anti-money laundering programs and compliance with the Bank Secrecy Act (“BSA”) and economic sanctions administered by the Office of Foreign Assets Control (“OFAC”).
Responsibilities
• Manages the FIU AML/CFT support teams responsible for performing transaction monitoring and investigations, customer and enhanced due diligence, currency transaction reporting, suspicious activity reporting, watch list and economic sanctions monitoring;
• Manages and maintains appropriate SAR investigation, review and reporting processes that promote consistent decisions; adequate investigation and research; and complete and detailed documentation;
• Ensures required regulatory reporting is conducted in a timely, accurate, and compliant manner, including the filing of Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) to FinCEN, and FinCEN 314(a) watch list monitoring and reporting;
• Ensures the achievement of AML/CFT support team production goals and standards;
• Proactively manages and identifies opportunities for process efficiency enhancements and proposes possible solutions;
• Provides coaching and guidance to FIU AML/CFT support teams to ensure research, analysis, and documentation comports with FIU quality standards;
• Provides support and guidance to business line partners and FIU AML/CFT teams involving complex BSA and applicable financial crimes matters;
• Develops, crafts and maintains clear, concise, and accurate written procedures, job aids, reference guides and forms aligning with Bank policies and regulatory requirements enabling AML/CFT analysts and investigators to perform their assigned tasks efficiently;
• Executes the duties assigned by the Deputy AML/CFT Officer and AML/CFT Officer to ensure an effective Bank Secrecy Act/Anti-Money Laundering/OFAC Compliance Program aligning with current industry best practice, regulatory guidance and requirements;
• Maintains and integrates substantial knowledge of BSA and OFAC regulations, emerging financial crimes trends, rapidly changing economic sanctions and changes to laws and regulations pertaining to BSA/AML/OFAC/USA Patriot Act;
• Supports the Deputy AML/CFT Officer and AML/CFT Officer with the execution of strategic initiatives and goals to maintain, strengthen and mitigate risks;
• Escalates issues and situations requiring the attention of the Deputy AML/CFT Officer and AML/CFT Officer;
• At all times, preserves the integrity of the Company’s anti-money laundering and economic sanctions policies, procedures, systems and controls.
Requirements
• Associates degree or equivalent experience
• Certified Anti-Money Laundering Specialist (“CAMS”) or equivalent certification required
• Minimum 5 years’ experience in a BSA/AML or sanctions role within a financial institution or similar role
• Substantial knowledge of BSA/AML regulations and requirements including Currency Transaction Reporting (“CTRs”), suspicious activity monitoring and reporting (“SARs”), customer due diligence (“CDD”), Know Your Customer (“KYC”) standards and emerging financial crimes trends
• Comprehensive understanding of products, services and transaction processing channels within a financial institution
• Strong analytic, research and investigative skills necessary
• Excellent prioritizing, time management and multi-tasking skills a must
• Exceptional quality and integrity of work produced within tight deadlines
• Ability to function both independently and within collaborative team environments
• Solid computer skills including the use of Microsoft Office products
• Excellent written and verbal communications skills
Apply tot his job
Apply To this Job