Managing Director, Head of Compliance
Serve as the BSA/AML Officer, MLP Officer, OFAC Compliance Officer and FATCA
Oversee and monitor the implementation of BSA/ AML and OFAC compliance
About Our Client
My client is a foreign financial institution who are based in New York offering commercial and correspondent banking services to customers based in the U.S.
MPI does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, disability, veteran status, marital status, or based on an individual's status in any group or class protected by applicable federal, state or local law. MPI encourages applications from minorities, women, the disabled, protected veterans and all other qualified applicants.
- Serve as the BSA/AML Officer, MLP Officer, OFAC Compliance Officer and FATCA.
- Oversee and monitor the implementation of BSA/ AML and OFAC compliance.
- Establish standards and implement policies, procedures and processes to ensure that all Compliance programs are effective and efficient in identifying, preventing, detecting and correcting noncompliance with applicable rules and Provide Compliance input in the development of all other policies, procedures and processes as and when required.
- Implement a meaningful and productive transaction monitoring program that would ensure an accurate review and timely disposition of transaction monitoring.
- Develop and maintain a SAR Reporting Process that would detail the criteria and processes employed to identify, investigate and report unusual or suspicious activity to the appropriate lines.
- Supervise OFAC/watch list screening of in-process transactions in the payments and receipts processing.
- Supervise review, analysis, testing and validation on a year round basis of Compliance systems
- Supervise all reporting to regulatory and government agencies such as FinCEN, OFAC for accuracy, completeness and timeliness.
- Present a periodic review of all important Compliance-related matters to the Compliance Committee and Head Office.
- Coordinate with federal and state regulators during examinations, for information requests regarding Compliance. Ensure that senior management and Head Office are kept informed of the progress of such examinations, and the nature and ramifications of their findings.
- Implement regulatory observations and recommendations.
- Coordinate with all internal/ external auditors to ensure that Compliance issues are adequately monitored and addressed and implement all agreed upon recommendations by the auditors.
- Supervise quality assurance/ enhanced reviews of trade finance, pouch activity and any other area in accordance with Compliance policies.
- Oversee and monitor the implementation of CIP and COD.
- Supervise a periodic review of all customer files for completeness.
- Oversee maintenance of all logs, checklists, forms, notices and disclosures prepared by Compliance and Account Administration for completeness.
- Coordinate corrective action strategies as needed by developing and creating written responses and/ or policies, procedures and processes in conjunction with new rules and regulations, internal assessments, audits and examinations.
The Successful Applicant
The successful Chief Compliance Officer will have:
- Bachelor's degree in Business Administration or related Master's degree preferred.
- 20 plus years' experience of which 10 years should be in the position of CCO.
- Experience with laws and regulations governing financial institutions
- Experience dealing with auditors, consultants and regulatory agencies
- Knowledge of the laws applicable to money laundering including the Bank Secrecy Act, USA PATRIOT Act, S. Treasury AML guidelines, OFAC requirements, terrorist financing, CIP, COD and EDD.
- Excellent communication and leadership skills, good team leader and manager culturally tuned to operate and deliver in a challenging regulatory environment.
- Track record of building effective partnerships with Bank's management, auditors, consultants
- Ability to work independently with a high level of initiative.
- Proven ability to communicate professionally to all levels, create presentations and management briefs.
- Excellent investigative, analytical, problem solving skills.
- Excellent attention to detail and follow-up skills.
- Ability to organize, analyze, and interpret data and make recommendations compatible with the Bank's standards and regulatory
What's on Offer
Competitive Base Salary
Strong Annual Bonus Plan
Great benefits including PTO, Health, Dental, Vision