To monitor timeliness as well as to ensure quality in responses given by the business segments to BSA inquiries as well as to give assistance in BSA related matters. Provide BSA subject matter expertise to the business lines regarding new products, services, processes, and systems, as well as maintain a detailed knowledge regarding the division's major customer and all BSA/OFAC-related threats and/or environment in which they operate.
- Monitor timeliness and ensure the quality of the responses to RFI from the respective business units to other BSA Units.
- Monitor timeliness and quality of updated KYC/KYA (periodic or requested) as required by policy for all accounts and as requested for any accounts under review/investigation by the various units within BSA, or after visiting a customer or obtaining information that merits an update.
- Monitor timeliness and quality of customer visitation and receipt of financial statements as required for certain high-risk accounts. Depending on the business unit, this could include visiting the customer or coordinating the visitation process performed by external resources. In any case, the Liaison is responsible for the appropriate documentation of any and all visitations.
- Monitor timeliness and quality of any KYC/KYA or CDD/EDD exceptions noted by the CDD/EDD Unit.
- Monitor timeliness of account closures. For those cases in which the business line is requesting consideration for the account to remain open, the liaison is to review the quality of information and documentation compiled by the business officer and forward the case to BSA Management in a timely manner such that a decision may be made prior to the account closure due date. Coordinate an open house meeting prior to the closure due date if the complexity warrants such.
- Coordinate with the business officer the review of account documentation for new customers classified as high risk under the BSA program prior to submission to CDD/EDD Unit and for approval of the account and potential follow up afterwards.
- Review documentation compiled by the business officer for presentation of PEPs to EMC for approval.
- Assist officers and credit services on BSA matters regarding potential or existing loan customers.
- Assist the business officers in reviewing Adverse Media to determine necessity for escalation to other BSA units.
- Monitor timeliness and quality of responses to inquiries on potential OFAC matches from the business officer.
- Identify BSA training needs in the business line and report to line of business and BSA Management. Collaborate with BSA Management to develop the scope and learning objectives for compliance training for the business line.
- Identify potential BSA-related opportunities for improvements within business units and communicate with BSA Management.
- Maintain detailed knowledge regarding the division's major customers and all BSA/OFAC-related threats and /or environment in which they operate. Identify trends and changes as applicable and report to BSA Management, as appropriate.
- Provide periodic status reports to business unit heads regarding timeliness and quality issues as stated above. Ensure preventive measures are conducted to fully comply with current rules, regulations and internal policies relating to risks pertaining to BSA, USA Patriot Act, OFAC and other AML related issues.
- Identify, evaluate, monitor, and make any recommendation deemed necessary to the supervisor in order to assess, reduce, eliminate or control any current or prospective risks to earnings or capital arising from violations of, or nonconformance with, laws, rules, regulations, prescribed practices, internal policies and procedures or ethical standards.
- Other duties assigned by Supervisor.
Minimum Education and/or Certifications Requirements:
Bachelor's degree in Finance, Business Administration, Economics, CAMS, AMLCA or CRCM certification preferred.
Minimum Work Experience Requirements:
3 to 5 years as an officer in a BSA/Compliance or Internal Control position in the banking industry, preferably in anti-money laundering compliance in an international banking environment. Bilingual English/Spanish preferred.
Technical and/or Other Essential Knowledge:
Strong knowledge of the Bank Secrecy Act, OFAC regulations and compliance controls. Knowledge of banking financial principles, products and process involved in banking activities.