AML Officer responsible for AML/CFT policies in Compliance function. Ensuring regulatory clarity and audit readiness in Limassol, Cyprus.
NU
Hybrid Assistant Manager, BSA/AML Compliance Quality Control
Posted 3 weeks ago
About the role
- Assistant Manager for BSA/AML Compliance supporting financial crimes strategy. Overseeing compliance quality control functions in accordance with federal and state regulations.
Responsibilities
- Manage Navy Federal’s BSA/AML Compliance Quality Control functions in accordance with the Federal Financial Institutions Examination Council (FFIEC), and state and federal regulations
- Supervise the daily workload and schedule of staff by reviewing project priorities, work in progress, compliance to statutory guidance, and internal/external audit deadlines, individual assignments, and required internal/external reports and filings
- Manage daily operations and serve as primary point of contact for escalated issues from supervisors and staff
- Assist with interpretation and implementation of regulatory changes
- Oversee the quality control processes related to member transactional and behavioral data to ensure adherence with regulations including the Bank Secrecy Act (BSA) involving the filing of currency transaction reports (CTRs) and suspicious activity reports (SARs)
- Ensure each division workflow, including SAR, CTR, Alerts, Know Your Customer, and Enhanced Due Diligence, has a meaningful quality control process that is documented and followed
- Assist with interpretation and implementation of change management efforts on enterprise-wide operations, systems, processes and staff/management compliance training
- Build collaborative relationships and liaise with other Navy Federal teams regarding requests for information, communication of alerts, issue resolution and response, and best practices
- Serve as secondary point of contact on internal and external regulatory examinations, and work collaboratively with internal partners/outside counsel, as necessary, to fully remediate and address findings
- Monitor vendor relationships to ensure product service and quality; escalate issues as appropriate
- Contribute significantly to development of Objectives and Key Results (OKR), monitor performance and achievement regarding OKRs, determine gaps in performance metrics, and recommend/execute change management techniques for efficiency/quality improvements
- Collaborate with ISD to integrate, develop, and maintain key department automated systems, notably the BSA/AML monitoring tool; anticipate issues and work with ISD to remediate issues with short-term and long-term solutions to ensure regulatory compliance
- Define specifications for automated systems enhancements and assist in evaluating and considering new monitoring technologies
- Collaborate with VP, AVP and Manager to consider strategies and planning to ensure the BSA/AML /OFAC Program continues to meet Navy Federal’s growth and emerging threats
- Assist Manager with counseling and advising internal BSA/AML and OFAC Compliance team members as well as business unit managers and project leaders on BSA/AML/OFAC compliance matters and processes
- Assist, as needed, with creating and managing an enterprise-wide BSA/AML education and training strategy through collaboration with Navy Federal e-Learning, and other business unit training areas for enterprise or targeted business groups; strive for consistent application of BSA/AML policies, procedures across business groups
- Assist, as needed, with business recovery plans by developing effective processes and procedures, and maximizing the detection of risk/potential exposures of transactional activities impacting Navy Federal business
- Assist with developing and managing a communications strategy to champion new regulations and strategies to include change management impact, response plans, education requirements to ensure maximum regulatory compliance and minimize risk exposure
- Assess cross functional impact of business process changes on BSA/AML processes and rules
- Assist with OFAC Program as requested
- Perform supervisory/managerial responsibilities
- Ensure adequate/skilled staffing; select employees
- Establish performance goals and priorities
- Prepare, conduct ,and review performance appraisals
- Develop, mentor and counsel staff
- Provide input and/or prepare budget requirements for Annual Financial Plan (AFP)
- Ensure section/branch goals and objectives align with division/department strategy
- Ensure efficiency of operations
- Perform other related duties as assigned or appropriate
Requirements
- Expert knowledge of Bank Secrecy Act, USA Patriot Act, OFAC regulations and associated requirements
- Expert knowledge of the Anti-Money Laundering Act of 2020 and Corporate Transparency Act
- Extensive experience in compliance roles having broad exposure to regulations interpretation, compliance implementation, risk assessment analysis, regulatory audits, administration, and communications
- Experience in leading large projects/initiatives which have business risk and impact
- Experience leading and supervising employees
- Advanced skill managing multiple priorities independently and/or in a team environment to achieve goals
- Advanced research, analytical, and problem-solving skills
- Advanced skill in presenting findings, conclusions, alternatives and information clearly and concisely
- Advanced skill exercising initiative and using good judgment to make sound decisions
- Advanced skill to influence, negotiate and persuade to reach agreeable exchange and positive outcomes
- Expert written and verbal communication skills
- Experience in results-oriented leadership in a challenging environment
- Experience in working with all levels of staff, management, stakeholders, vendors
- Experience in change management processes including strategies, business processes, education and communication
- Advanced word processing and spreadsheet software skills
- Advanced database and presentation software skills
- Working Knowledge of banking/financial industry regulations, trends, products and services
- ACAMS Certified
- Advanced knowledge of Navy Federal’s functions, philosophy, operations and organizational objectives
Benefits
- Highly competitive pay
- Generous benefits and perks
- Employee referral program
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Degree requirement
No Education Requirement
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