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Senior Compliance Analyst
Sumitomo Mitsui Financial Group
New York, NY, United States
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Overview
Foreign financial institutions maintain accounts at U.S. banks to gain access to the U.S. financial system and take advantage of services and products that may not be available in the foreign financial institution's jurisdiction.
These foreign financial institutions may pose a higher money laundering risk to their respective U.S. bank correspondent(s).
The position involves managing the BSA/AML risks inherent with these relationships and requires close monitoring of transactions related to these accounts to detect and report suspicious activities.
Responsibilities
• Ensuring compliance with the anti-money laundering principles for correspondent banking.
• Ensuring continued compliance with SMBC's policies and procedures governing correspondent banking relationships.
• Reviewing at least annually the foreign correspondent accounts (FCAs) risk appetite statement governing the strategic and business objectives for SMBC's foreign correspondent banking business.
• Preparing an annual FCA risk assessment.
• Using a risk based approach, evaluating the quality of the Correspondent Banking client's anti-money laundering program.
• Applying enhanced due diligence to those FCAs which present greater risks.
• Developing MIS reports to aid the BSA Officer in managing AML and sanctions risks holistically.
• Assist the BSA Officer with the day-to-day implementation of the AML Program
Qualifications
• Minimum of five years of specialized experience in the AML arena.
• Solid working knowledge of the Bank Secrecy Act and implementing anti-money laundering laws and regulations.
• B.A./B.S. degree.
• Strong interpersonal and communication skills (verbal and writing).
• Ability to work well independently or within groups.
• Management of processes requiring a “hands on” approach.
• Excellent organizational skills.
• Attention to detail.
• Ability to manage multiple tasks and deliver a quality work product.
• Ability to quickly adapt to changing tasks and workload.