BSA/AML Special Monitoring Unit Supervisor

Responsible for overseeing the Special Monitoring Unit (SMU) within the Financial Intelligence Unit (FIU) to ensure all analysts meet or exceed quality and production goals, identify training and coaching opportunities, and ensure timely completion of projects and goals in accordance with FIU requirements.

Responsibilities

• Oversee the entire-cycle execution of ongoing alert-based monitoring of financial institutions (FIs) and non-bank financial institutions (NBFIs) accounts including alert review, investigation, and SAR filing phases performed by the SMU.
• Oversee the annual foreign correspondent bank transaction monitoring process, in conjunction with the BSA/AML Enhance Due Diligence Supervisor.
• Act as an SME on foreign correspondent banking and non-bank financial institutions BSA/AML compliance.
• Providing support to BSA management, liaison team, and business line in reviewing the transactional activity of financial institution and non-bank financial institutions.
• Ensure completion of quarterly GL loan activity concentration account review, past due loan review, and scheduled monitoring of correspondent bank lending relationships.
• Conduct quality control reviews of alerts, investigations, and SARs performed by the SMU.
• Organize and review production and quality data via Excel or other tools to monitor FI/NBFI team progress; manage problems; publish progress reports; and/or recommend actions. Present accurate and professional reporting to management as required including graphs, reports, and presentations.
• Coordinate with management when necessary to manage team member performance and/or personnel issues.
• Contribute to developing individual and project goals and execute on tactical strategies for goal attainment.
• Participate in business development and BSA/AML strategic planning processes.
• Coordinate with other Team Leads/Supervisors/Managers in the development of training.
• Complete AML Alert reviews and/or Investigations as needed within the scope of the reviews.
• Act as a subject matter expert and advise various business units and operations lines, as well as on-going training related to the latest BSA/AML and fraud schemes and terrorist financing activities.
• Coordinate meetings with Regional Managers as needed to ensure Account Officer Personnel provides clear and timely replies and/or supporting documentation as required for these risky accounts.
• Ensure that there is a proper level of record keeping retention that proves BSA regulatory compliance evidence during internal/external audits or regulatory examinations.
• Assist the Corporate BSA Officer during regulatory exams and/or special projects as necessary.
• Ensure preventive measures are carried out 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.
• To identify, evaluate, monitor and make any recommendation deemed necessary to the respective Risk Management Committees 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.
• Has strong working knowledge of business structures in the U.S., Latin America and off-shore countries. Performs analysis of complex corporate structures, including those that are mutli-layered in multiple jurisdictions. Reviews articles of incorporation, trust and foundation documents, and other corporate ownership documents. Creates charts of ownership and flow of funds to determine and document customer ownership and interactions with affiliates and subsidiaries.
• Tracks cases of customers with negative media profiles to assure Senior Management is made aware and that appropriate action is executed.
• Mentor and train Special Monitoring Unit (SMU) staff to ensure achievement of BSA objectives and professional development.
• Demonstrates an excellent understanding of BSA/AML regulations, and the ability to apply that knowledge to the analysis/review of customers and activity in order to identify and report suspicious activity.
• Conducts risk assessments of transaction activity patterns and set forth methodology and techniques for investigation and resolution.
  
  

Minimum Education And/or Certifications Requirements

Bachelor’s Degree in Banking or Finance, Criminal Justice, Forensic Accounting, and specific banking institute courses or related field preferred. ACAMS certification (Certified Anti-Money Laundering Specialist) preferred.

Minimum Work Experience Requirements

At least 5 years’ experience in BSA Compliance with an emphasis in developing and administering complex and special investigations, correspondent banking and International banking experience preferred.

Technical And/or Other Essential Knowledge

Proficient in Microsoft Office applications, Infoimage, Nautilus, Payplus, AS-400, Fiserv & Datapro, SQN, and AssistCK. Good interpersonal skills.

Extensive knowledge of BSA and AML laws and regulations, including the Bank Secrecy Act, the USA Patriot Act, and OFAC requirements, knowledge of financial fraud and applicable federal and state laws.

Prior experience managing a department and team of professionals.

Ability to manage numerous priorities, and confidential and sensitive information in a professional manner

Experience In a Mulit-state Environment Preferred.

High attention to detail with strong analytical, problem solving and logical reasoning

Knowledge of consumer, corporate and correspondent banking (domestic and international) products and services