Job DescriptionManage and direct Navy Federal's Risk Intelligence Unit (RIU) under leadership of the VP, BSA/AML & OFAC Compliance to lead the Know Your Customer / Enhanced Due Diligence Program workstreams. Assist with development of long- and short-term goals and strategic plans to support enterprise initiatives. Oversee the operations of a sustainable, effective, and efficient BSA/AML/CFT Compliance Program. Provide tactical, operational, and strategic support to VP, BSA/AML & OFAC Compliance. Direct report to VP, BSA/AML & OFAC Compliance who reports under the Chief Compliance Officer (COO).
Responsibilities- Expertly perform supervisory/managerial responsibilities over the Risk Intelligence Unit (RIU), which currently includes approximately 45-50 people, to:
- Ensure a clear strategic and operational vision
- Ensure adequate/skilled staffing; selection and placement of employees
- Establish performance goals and priorities
- Prepare, conduct, and review performance appraisals
- Develop, mentor and counsel employees
- Ensure accountability for personnel work-product and performance metrics
- Ensure personnel morale and well-being
- 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 and look for opportunities to improve procseses
- Perform other related duties as assigned or appropriate
- Expertly manage Navy Federal's BSA/AML Compliance functions in accordance with the Federal Financial Institutions Examination Council (FFIEC), and state and federal regulations
- Lead Navy Federal's BSA/AML/CFT Operations including Customer Identification Program (CIP), Customer Risk Rating (CRR) Program, Know Your Customer (KYC) Program and related due diligence risk reviews (e.g., CDD and EDD), implementation of controls and reporting metrics, and the interaction with currency transaction reports (CTRs), suspicious activity reports (SAR), and other related regulatory reports
- Manage/actively monitor BSA/AML/CFT models, such as those developed to risk rate membership,and monitoring systems ensuring adherence to best practices, and timely, proactive, accurate identification/detection of risk activities
- Interpret BSA/AML/CFT risk assessments and determine impact and/or changes on current business processes, and ensure timely resolution of identified issues/concerns
- Oversee interpretation and implementation of regulatory changes and guidance, including for instance, any related to the Anti-Money Laundering Act of 2020, other Executive Orders, and FinCEN FAQs or Advisories, among others
- Oversee interpretation and implementation of change management impact on operations, systems, processes and staff
- Build collaborative relationships and liaise with external regulatory agencies and law enforcement regarding requests for information, communication of alerts, issue resolution and response, and best practices
- Serve as point of contact on internal and external regulatory examinations, and work collaboratively with internal partners/counsel, as necessary, to fully remediate and address examine findings
- Manage vendor relationships to ensure product service and quality
- Determine gaps in performance metrics, and recommend/execute change management techniques for efficiency/quality performance improvements
- Monitor, identify, and timely and appropriately respond to high-risk customer/activities impacting Navy Federal members, services, and financial assets
- Collaborate with Navy Federal's technology team (ETS) to integrate, develop, and maintain key department automated systems, notably the BSA/AML monitoring tool, including tuning; Anticipate issues and quickly work with ETS to remediate issues with short-term and long-term solutions, as appropriate, to ensure regulatory compliance
- Collaborate with Navy Federal onboarding teams (Business Solutions, Savings and Membership, Contact Center, Branch, etc.) to ensure appropriate customer and product risk ratings, due diligence, and ongoing due diligence based on risk
- Define specifications for and assist in evaluating automated systems enhancements
- Consider forward strategies and planning to ensure the BSA/AML Program continues to meet Navy Federal's membership growth, geography and products, as well as respond to emerging threats
- Provide counsel and advice to the internal BSA/AML and OFAC Compliance team as well as business unit managers and project leaders on BSA/AML and OFAC compliance matters and processes
- Be a key contributor to the development of an enterprise-wide BSA/AML education and training strategy through collaboration with BSA/AML & OFAC Compliance's training team, 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
- Manage business recovery plans by developing effective processes and procedures, and maximizing the detection of risk/potential exposures of transactional activities impacting Navy Federal business
- Assess cross functional impact of business process or product changes to BSA/AML processes and rules
Qualifications- Superb people management skills, including but not limited to:
- Superb skills exercising initiative and using good judgment to make sound decisions
- Superb skills in results-oriented leadership in a challenging environment
- Extensive experience in working with all levels of staff, management, stakeholders, vendors
- Extensive experience in change management processes including strategies, business processes, education and communication
- Proven experience in successfully leading large projects/initiatives which have business risk and impact
- Extremely effective skills in managing multiple priorities independently and/or in a team environment to achieve goals
- Advanced knowledge of Bank Secrecy Act, USA Patriot Act, and associated requirements
- Extensive experience in compliance roles having broad exposure to law enforcement, regulations interpretation, compliance implementation, risk assessment analysis, regulatory audits, administration, and communications
- Superb research, analytical, and problem-solving skills
- Superb skills in presenting findings, conclusions, alternatives and information clearly and concisely
- Superb word processing and spreadsheet software skills
- Superb database and presentation software skills
Desired Qualifications- Industry certifications in BSA-AML field (e.g., CAMS certification)
- Graduate degree in business, management, accounting, information systems, or law
- Extensive experience at a comparable/large financial institution or within the financial services industry
- Extensive experience at a law enforcement or security government agency
Additional InformationHours:- Monday - Friday, 8:00AM - 4:30PM
Location:- 820 Follin Lane, Vienna, VA 22180
