What are the responsibilities and job description for the Director of Financial Investigations Unit position at LMCU?
Job Summary
The Director of Financial Investigations Unit is responsible for directing and implementing the Financial Investigations Unit program. This position will entail collaboration with cross-functional teams to enhance monitoring systems, ensure efficient and thorough investigation processes, provide oversight of reporting activities and sanctions adherence, and create and maintain a risk rating process to help ensure regulatory expectations are met.
Responsibilities
The Director of Financial Investigations Unit is responsible for directing and implementing the Financial Investigations Unit program. This position will entail collaboration with cross-functional teams to enhance monitoring systems, ensure efficient and thorough investigation processes, provide oversight of reporting activities and sanctions adherence, and create and maintain a risk rating process to help ensure regulatory expectations are met.
Responsibilities
- Provide direction and oversight to the FIU team to ensure regulatory compliance is maintained while aligning with corporate goals. Lead a team of specialized AML investigators responsible for analyzing and investigating high-risk and complex member activities. Address program deficiencies in alignment with LMCU’s risk appetite and broader strategic objectives.
- Maintain a deep and current understanding of AML/BSA/CFT/OFAC regulatory requirements, changes, emerging risks, trends, and typologies. Design and implement a robust high-risk review process and lead the organization’s overall program risk assessment. Monitor and evaluate the performance of AML/BSA/CFT/OFAC operations, identifying procedural weaknesses and recommending actionable solutions to management.
- Manage, enhance, and administer AML/BSA/CFT/OFAC software and monitoring systems, ensuring parameters effectively detect suspicious activity; conduct regular tuning and calibration. Collaborate with data analytics experts to evaluate rules, scenarios, and patterns, and support operational improvements based on data-driven insights.
- Partner with internal business units to gather information required for informed decision-making, adapting to shifting regulatory priorities. Maintain effective working relationships with internal stakeholders, external partners, and law enforcement agencies to support and enhance investigations.
- Develop and implement training programs to ensure all team members are equipped with the knowledge and awareness necessary to navigate evolving financial crime threats and regulatory environments.
- Eight years to 10 years of extensive experience in AML Compliance, high-risk and complex financial crime investigations, law enforcement or related fields, including demonstrated success in leading teams and delivering complex ANL/CFT/BSA initiatives.
- Prior leadership experience required.
- Prior regulatory examination experience preferred.
- A bachelor's degree in business, law, criminal justice, or related field of study.
- Certified Anti-Money Laundering Specialist (CAMS), Certified Anti-Fraud Specialist (CAFS), or Certified Financial Crime Specialist (CFCS) strongly preferred.
- Prior experience with BSA/AML/CFT technology, including implementation of software (Patriot Officer, Verafin, etc.).
- Must display strong analytical and thought leadership by being able to transform ideas to actional plans.
- Deep understanding of criminal typologies associated with a wide array of financial products and services.
- Knowledge of core banking software (Jack Henry Symitar and related suite of products), as well as ancillary software such as OnBase, Check Imaging, FPS Gold, identity verification tools, OFAC software.