This job has expired, please see additional jobs below
VP, KYC Unit Manager
Banc of California
Santa Ana, CA, United States
Job Details - this job has expired, please see similar jobs below
Description
Since 1941, Banc of California (NYSE:BANC) has provided full-service banking and lending to individuals and their businesses, families and employees throughout California and across the West.
Today, with over $10 billion in consolidated assets, we are large enough to meet our clients’ banking needs, yet small enough to care and serve them well. Banc of California’s strong balance sheet, deep community roots and commitment to lasting and meaningful relationships are the foundation for its long record of success.
JOB SUMMARY:
Responsible for the development, implementation, oversight, and reporting on the Bank’s Know Your Customer (KYC), Customer Identification Program (CIP) and customer onboarding controls in support of the Enterprise Anti-Money Laundering (AML) Program. Ensures that established customer onboarding processes and controls are adhered to with regard to bank KYC/CIP policies, Bank Secrecy Act (BSA), USA PATRIOT Act (USAPA), Title 31 Code Federal Regulations Chapter X, Office of Foreign Assets Control (OFAC) watch list screening, and Foreign Account Tax Compliance Act (FATCA). Ensures the performance of all duties in accordance with the company’s policies, procedures, and Board approved BSA/AML and Reputational Risk Appetite, as well as all U.S. state and federal laws and regulations, wherein the company operates.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
1. Performs personnel actions including performance appraisals, disciplinary actions, and interviewing candidates for employment; supervises the daily activities of the team including, but not limited to, effective delegation of assignments, developing work schedules and providing necessary training.
2. Responsible for the overall direction, motivation, coordination and evaluation of functionalities within the unit.
3. Ensures that controls are sufficiently designed, documented, and evidenced to satisfy risk, audit and regulatory objectives.
4. Responsible for ensuring overall compliance with the KYC, CIP, BSA, USAPA, OFAC, FATCA, and other AML regulations, and reviews all regulatory requirements. Ensures Bank’s customer onboarding controls align with OCC and other applicable regulatory requirements.
5. Leads and mentors the KYC/CIP Unit to perform pre-approval and post-approval customer due diligence (CDD) and in the successful review of high risk account enhanced due diligence (EDD) reviews to ensure authenticity, completeness, and accuracy of information provided by customer, screenings for Office of Foreign Asset Control (OFAC) sanctions and Politically Exposed Person (PEP) classifications, and oversees resolution of reviews regarding complex commercial relationships.
6. Ensures all new high risk accounts are approved within the agreed upon Service Level Agreement (SLA) with the front line.
7. Develops, implements, oversees, and reports on customer onboarding processes, tools, policies, standards, and procedures ensuring alignment with the Bank’s Enterprise Risk Framework and the Enterprise AML Program.
8. Carries out responsibilities by promoting a risk-aware culture, ensuring efficient and effective risk and compliance management practices, identifying issues, determining root cause and taking corrective action through staff training, process or system enhancements.
9. Ensures that all new accounts are within the Board of Director’s approved BSA/AML and Reputational Risk appetite, and for those requests that fall outside of the approved risk appetite, timely escalate to the SVP, BSA & AML Officer.
10. Ensures that resources and infrastructure are adequate to support the customer onboarding program; conveys the Bank’s needs and objectives, and ensures necessary controls are in place and working as designed.
11. Works with the OCC and internal auditors to provide schedules, analysis and answering questions.
12. Conducts quality control review to ensure staff members follow established policies and procedures, and execute deliverables within expected timeframes.
13. Performs full second-level review of customer files, identifies and resolves potential risks or issues prior to submitting files to senior management for review and approval.
14. Conducts site visits at customer sites to evaluate operations against customer information profile and provide recommendations to the Bank on the customer relationship.
15. Works effectively with key stakeholders using strong influencing skills to resolve issues in a mutually satisfactory manner, and respective responsibilities are understood, agreed, and escalated where required.
16. Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
17. Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
18. Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
19. Performs the position safely, without endangering the health or safety of themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
20. Performs other duties and projects as assigned.
Banc of California is an equal opportunity employer committed to creating a diverse workforce. All qualified applicants will receive consideration for employment without regard to age (40 and over), ancestry, color, religious creed (including religious dress and grooming practices), denial of Family and Medical Care Leave, disability (mental and physical) including HIV and AIDS, marital status, medical condition (cancer and genetic characteristics), genetic information, military and veteran status, national origin (including language use restrictions), race, sex (which includes pregnancy, childbirth, breastfeeding and medical conditions related to pregnancy, childbirth or breastfeeding), gender, gender identity, gender expression, and sexual orientation.
Qualifications
ESSENTIAL KNOWLEDGE, SKILLS, AND ABILITIES:
• Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to the following: Regulation Z (Truth in Lending Act), Regulation B (Equal Credit Opportunity Act), Fair Housing Act (FHA), Home Mortgage Disclosure Act (HMDA), Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), Bank Secrecy Act (BSA) in conjunction with the USA PATRIOT Act, Anti-Money Laundering (AML) and Customer Identification Program (CIP), Right to Financial Privacy Act (RFPA, state and federal) and Community Reinvestment Act (CRA)
• Advanced knowledge of production analysis and report writing environments
• Advanced knowledge of BSA/AML regulations, requirements, research techniques, and tools
• Expert knowledge of the end to end KYC and CIP onboarding processes
• Knowledge of International Banking as well as various non-retail banking products and services including; deposit, investment, treasury and cash management, equipment lending, commercial real estate lending, and credit products, foreign currency exchange or other financial instruments
• Understanding of complex corporate structures and CIP and additional due diligence and documentation requirements including ultimate Beneficial Ownership information
• Thorough understanding of the regulatory environment affecting financial institutions and applicable regulations impacting financial crimes and fraud prevention
• Advanced knowledge of BSA, USAPA, Title 31 Code Federal Regulations Chapter X regulations and requirements, and OFAC Sanctions and experience in Sanctions investigations, for various customer types
• Strong knowledge of and proficiency with Actimize, Verafin, or other industry related transactional monitoring and case management system
• Effective planning, organizational, time management, issue resolution and decision-making skills
• Strong relationship development and leadership skills
• Solid presentation and reporting skills of in-house tools and databases; heavy understanding within Microsoft Office (Excel, PowerPoint, etc.)
• Intermediate math skills; calculate interest and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs
• Effective organizational and time management skills
• Exceptional oral, written and interpersonal communication skills with the ability to communicate complex information accurately, clearly and quickly
• Ability to collaborate to achieve objectives and influence others, build teams and communicate effectively with Senior Management
• Ability to assess processes (including process mapping), identify and drive improvement execution, and have relationship management and conflict resolution skills
• Ability to monitor new regulatory guidance/pronouncements that may directly or indirectly affect the department and recommend and/or implement any necessary changes to maintain compliance with the new law, rule, or regulation
• Ability to read, analyze and interpret common technical journals, financial reports and legal documents
• Ability to make decisions that have significant impact on the immediate work unit and cross functional departments
• Ability to make informal and formal presentations, inside and outside the organization; speaking before assigned team or other groups as needed
• Ability to deal with complex difficult problems involving multiple facets and variables in non-standardized situations
EDUCATION, EXPERIENCE AND/OR LICENSES:
• Bachelor’s Degree preferred.
• Seven (7) to Ten (10) years’ experience in the banking and/or financial services industry.
• Three (3) to Five (5) or more years in a managerial, supervisory, or team lead role.
• Certified Anti-Money Laundering Specialist (CAMS) certification required.