Financial Crimes Manager

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GENERAL FUNCTION:

Facilitates the continued development and implementation of the Bancorp's Financial Crimes Compliance programs, including ensuring compliance with Federal laws and regulations and industry standards. Actively engaged and readily available to oversee the Bancorp's Financial Crimes programs.  Evaluates efficiency and effectiveness of existing programs, processes, and control within departmental operations and propose and implement solutions.

Responsible for developing and implementing controls commensurate with the financial crimes risks related to higher risk customer types, including money service businesses (MSBs), and providing ongoing support for these customers. This role involves collaboration with the first line of defense for identification of controls and coordination with key stakeholders and financial crimes leadership. The manager will also assist in the review and enhancement of LOB customer due diligence and customer risk rating methodology and scoring.  This manager may also be required to provide targeted AML and OFAC training to business unit staff and performing other assigned tasks related to the implementation and execution of the Bank’s Financial Crimes program. 

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank’s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Serves as a subject matter expert regarding customers that pose a high level of money laundering risk, including but not limited to money services businesses (MSBs) and perform complex vetting of prospects and changes in existing customer relationships.
• Responsible for the development, strengthening, and implementation of AML/CFT compliance program controls as they pertain to enhanced monitoring and oversight of these customer types.
• Initiates and facilitates collaborative alliances with line of business management, and corporate partners to ensure line of business compliance program is adequately managed.
• Communicates significant issues to senior management.
• Oversees evaluations of line of business compliance processes and procedure effectiveness across affiliates.
• Identifies opportunities, establishes action plans, and drives solutions to continuously improve the compliance program, and increase efficiency.
• Liaisons with regulators as appropriate.
• Partners with communications and training department to develop awareness, training, and continuing education as it relates to specific laws and regulations.
• Provides leadership and coaching to ensure optimum team and individual performance in support of department, division, and Bancorp goals.
• Builds industry relations through industry networking.
• Maintains awareness of division goals, regulatory developments, and industry trends.
• Assumes additional responsibilities and leads special projects as assigned.
• Analyzes data by numerous delivery channels, geographic area, product types, facility, and even employee or officer to identify risks and develop and recommend scope or target for the review, corrective action/or performance gap closure. Develops and executes strategies for closing gaps in performance.
• Assess the adequacy of the business units'/affiliates recommended corrective action to the issues or gaps identified.
• Develop and report findings to Senior Management regarding their business lines (Legal, Audit, and Senior level Operating Committees).
• Works with Sr. leadership to set strategic direction for department and executes on those goals and objectives.
• Participates and/or leads meetings with peers to build and maintain knowledge of current and emerging issues and risk in the environment.
• Contribute updates to the risk assessment.

BANK SECRECY ACT REQUIREMENTS: Responsible for adhering to the reporting and record keeping requirements of the Bank Secrecy Act and Anti-Money Laundering rules and regulations, observing economic sanctions by prohibiting transactions as specified by the Office of Foreign Asset Control (OFAC), following the bank’s customer identification program (CIP) rules, obse