SVP/VP Chief BSA Officer
New York, NY | Direct Hire
SVP/VP Chief BSA Officer
( Expanding Foreign Bank located in Manhattan)
Ideal candidate will have experience working in the Asian banking community
The SVP is responsible for the development and ongoing maintenance of an enterprise-wide BSA/AML/OFAC/CTR program sufficiently robust to address the needs of the institution’ s complex, US based, technology-centric businesses.
The BSA/AML Officer, in a role critical to managing the institution’ s BSA/AML/OFAC/CTR risk, works closely with the management team.
Include but are not limited to:
- Maintaining and enhancing an enterprise-wide BSA/AML/OFAC/CTR risk management framework
- Maintain and enhance an enterprise-wide BSA/AML/OFAC/CTR risk management framework that incorporates risk assessment, control design, training, monitoring, testing, and reporting of BSA/AML/OFAC/CTR matters;
- Contribute to the Risk Appetite Statement to ensure appropriate consideration of BSA/AML/OFAC/CTR issues and concerns;
- Ensure that BSA/AML/OFAC/CTR risks are owned and managed by accountable businesses;
- Ensure BSA/AML/OFAC/CTR risk controls exist in accordance with regulatory standards and policies;
- Define and implement a process for reporting to management the status of BSA/AML/OFAC/CTR regulatory compliance, including the details of any identified BSA/AML/OFAC/CTR issues and the corrective action taken;
- Manage Regulatory Matters
- Identify and implement best practices to ensure the institution remains in full compliance with all applicable regulatory BSA/AML/OFAC/CTR requirements;
- Serve as the primary internal resource for all issues relating to BSA/AML/OFAC/CTR regulatory requirements.
- Provide thought leadership on BSA/AML/OFAC/CTR issues and relevant industry trends;
- Oversee BSA/AML/OFAC/CTR staff and other significant resources
- Manage LCD team leads and the underlying resources under FIU, SAR/CTR, FCB EDD Review, Direct Customer Monitoring
- Assist in the selection and appointment of designated BSA/AML/OFAC/CTR Officers within each business;
- Establish effective, collaborative relationships with other areas within the institution or external organizations;
- New product assessment
- Participate in evaluating and introducing new products & services and new customers from a BSA/AML/OFAC risk perspective
- Collaborate with the businesses to address regulatory issue corrective action and mitigate exposure;
- Provide advice and support to lines of business on interpretation of BSA/AML/OFAC/CTR regulatory matters, BSA/AML/OFAC/CTR issues, and departmental training;
- 10-15 years as Chief BSA Officer/equivalent
- At least 7-10 years of relevant experience as a senior BSA/AML/OFAC/CTR officer in a global organization
- Background in Asian Banks (preferred)
Experience with working in Banks with asset sizes of 50 Billion+
- A minimum of a Bachelor’ s degree is required
- Strong understanding of BSA/AML/OFAC/CTR processes and activities common to a large bank is necessary as well as comprehensive knowledge of US banking regulations and compliance practices— with a strong emphasis on all aspects of BSA-AML/OFAC, correspondent banking and trade finance
- An ability to draft and assess the Bank’ s compliance with key banking regulations and compliance practices.
- An ability to build effective relationships with a proven record of building trust and credibility through strong interpersonal skills, communications, and actions
- Ability to negotiate effectively using diplomacy and tact to resolve difficult issues while maintaining a high degree of professionalism
- Strong influence skills working both internally and externally at senior levels
- Dedication to integrity, producing high quality results, and meeting deadlines
- Excellent leadership skills demonstrated by ownership of issues through their resolution while providing sound guidance to others
- Outstanding communication skills, both oral and written, and the ability to communicate clearly with constituents at all levels of the organization; and
- Demonstrated decision-making capability under stressful situations while dealing with complex issues involving competing interests.
- Capability under stressful situations while dealing with complex issues involving competing interests.