If you want to know about the requirements for this role, read on for all the relevant information.
Summary:
Responsible for managing the CIP program(s) that support the Compliance and Payments departments with CIP/KYC testing, quality control, due diligence and various activities relating to prepaid card program management.
Qualifications:
Education: Bachelor's degree in a related field.
Licenses/Certifications: BSA/AML Certification or similar preferred.
Experience: Five to ten years of fraud, BSA/AML, and CDD/EDD experience in a financial institution. Experience with Pre-paid card environment preferred. Prior experience in performing Client Onboarding/CIP/KYC Reviews/Data Remediation. A minimum of five years of managerial experience. Or equivalent combination of education and experience.
Essential Functions:
A: Job Specific:
- Manages Sutton Bank's CIP and BOCP programs within the Community Bank and Sutton Payments through proper oversight of policies, procedures, testing, and implementation of vendor CIP tools.
- Leads the team of CIP Analysts who confirm data quality validation, performs testing of prepaid program partners' CIP & BOCP programs, and oversees the partner's compliance with regulatory requirements and Sutton Bank's CIP and BOCP best practices.
- Identifies root causes of operational and compliance vulnerabilities, tracks CIP and BOCP findings, and prepares/administers action plans and training where deemed necessary and appropriate.
- Provides recommendations for prepaid program implementation based upon the review and approval of program CIP and BOCP procedures, as well as, the format that CIP testing files will be received in.
- Identifies key risks in CIP models and processes, identifies and documents risks in testing.
- Recommends implementation process improvements to management, including but not limited to, enhanced solutions to improve the business review process.
- Leads CIP, BOCP, and risk discussions at committee meetings and with payments team members, program managers, and auditors/regulators.
- Develops risk and control documentation through participation in the end-to-end process walk-throughs with assigned business units.
- Identifies and manages the AML and regulatory compliance risk associated with third-party prepaid access partners/program managers/programs/processors.
- Identifies strategic workflows to streamline the CIP process to minimize and alleviate operational errors.
- Tracks issues, discrepancies, and audit findings related to BSA/AML third party risk vulnerabilities and remediates the identified findings.
- Ensures changes and operational activities are reflected in services and SLA's.
- Works with HR to initiate corrective action and/or development plans, evaluate performance and develop staff members.
Knowledge/Skills/Abilities:
- The ability to communicate effectively and clearly, both in verbal and written communications.
- Working knowledge of various laws, regulations, and industry guidance that affect internal and financial institutions' compliance programs as it relates to the AML, Bank Secrecy Act and USA Patriot Act.
- The ability to evaluate Customer Identification Program (CIP) and KYC profiles.
- Excellent interpersonal skills and the ability to influence others for results.
- Strong knowledge of the business area that is being supported.
- Self-directed and motivated.
- Commitment to performance management.
- The ability to manage multiple deadlines in a fast-paced environment, accomplishing multiple tasks and resolving competing priorities effectively.
- Excellent problem-solving, critical thinking, and data analytical skills.
- Ability to read, analyze and comprehend journals, audit reports, regulations and legal documents.
- Ability to respond to common inquiries or complaints from employees, customers, regulatory agencies, or members of the business community.
- Ability to effectively present information to top management and employee groups.
Sutton Bank is an Equal Employment Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity, disability or protected veteran status.
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