USAmeriBancorp

FCC Risk Assessment Lead

USAmeriBancorp • $100K — $130K *
Morristown, NJ 07960In-Person
Finance & Insurance
8 - 10 years of experience
1 month ago
Job Overview by Ladders

Qualifications

  • Strong knowledge of Bank Secrecy Act, USA PATRIOT Act, and OFAC regulations.
  • Proficiency in Risk system (GRC) and motivated for enhancements.
  • Robust data analytics skills for trend identification and risk assessment.
  • Strong relationship-building skills to partner with cross-functional leaders.
  • Excellent verbal and written communication abilities.
  • Confidence to identify issues and collaborate on solutions with management.
  • Expertise in AML and OFAC policy implementation across business lines.
  • Ability to train all levels of employees on financial crime issues.
  • Capable of engaging with law enforcement and regulators effectively.

Responsibilities

  • Oversee the financial crimes risk assessment program and report risk profile to management and the board.
  • Enhance methodologies for AML risk assessments to align with FinCEN regulations.
  • Lead the sourcing and analysis of data for informed AML and OFAC risk assessments.
  • Develop and document annual AML and sanctions assessment plans and address identified deficiencies.
  • Liaise with regulators and auditors about risk assessment methodologies and results.
  • Analyze processes and controls across business lines to assess inherent risk and compliance.
  • Cultivate relationships with business units to advise on internal control development.
  • Generate reports and dashboards on the bank's AML and fraud risk profile.
  • Monitor key risk metrics and indicators for management and governance committees.
  • Review new products and services for associated risks and mitigation strategies.

Benefits

  • Comprehensive health insurance plans.
  • Retirement savings options with company matching.
  • Generous paid time off and holiday schedule.
  • Professional development and training opportunities.
  • Flexible work arrangements and remote work options.
Full Job Description
Responsibilities include but are not limited to:
  • Oversee the Financial Crimes risk assessment program, ensuring that the procedures, governance and the system of internal controls are effective and accurately report the Bank's financial crimes risk profile to Management and the Board.
  • Enhance financial crimes risk assessment methodologies to meet FinCEN's evolving regulatory expectations that the AML risk assessment be comprehensive, data-driven and effectively drive AML program design and strategy.
  • Lead the identification, sourcing, and strategic use of critical data elements to support quantitative inherent AML and OFAC risk assessments, driving data-informed insights into risk exposure across customers, products, geographies and channels.
  • Develop the annual AML and Sanctions risk assessment plans; Execute and properly document the assessments, ensuring all deficiencies identified are corrected within the specified time frame; and report the results and any outstanding issues to Management and the Board.
  • Liaise with bank regulators, as well as internal and external auditors to communicate the nature, methodology and results of the Financial Crimes risk assessment program.
  • Engage with the various lines of business to analyze processes and controls to identify and assess inherent risk, efficacy of controls, and compliance opportunities related to AML and OFAC.
  • Form strong relationships with lines of business and provide subject matter expertise in the development of internal controls.
  • Generate standing reporting and risk dashboards designed to identify changes to the risk profile of the bank related to AML, Fraud, or OFAC on an ongoing basis.
  • Monitor and report key risk metrics, Key Risk Indicators and Key Performance indicators to management and applicable governance committee
  • Review new products, services, markets or geographies for additional risks related to these areas, communicate any such risks to Management, and work with business lines to identify mitigating controls.
  • Assist in the identification of trends consistent with potential risk or compliance issues. Advise on tools and solutions to facilitate risk management and compliance and develop and maintain comprehensive records and reports of associated activities.
  • Maintain a working knowledge of internal controls, best practices in risk management, AML typologies, and sanctions compliance requirements, as well as other applicable state and federal laws and regulations within the scope of the financial crime functions.


Required Skills:
  • Strong knowledge of Bank Secrecy Act, USA PATRIOT Act, OFAC and other anti-money laundering laws and regulations.
  • Technical aptitude and motivation to learn all aspects of the Risk system (GRC). Candidate should have the motivation to drive system and process improvements in the organization.
  • Strong data analytics skills, including the ability to define, collect and interpret data to inform risk assessments and identity trends, anomalies and emerging risks.
  • Strong ability to build relationships cross-functionally and partner with leaders to deliver solutions that meet business needs.
  • Strong verbal and written communication skills.
  • Must have the confidence and ability to identify potential issues and solutions and work with all levels of management to resolve those issues.
  • Ability to work with various lines of business to ensure proper implementation of AML and OFAC policies.
  • Ability to provide guidance and training to all levels of employees within the department and bank-wide regarding financial crime-related issues.
  • Ability to interact and respond intelligently to inquiries from law enforcement and bank regulators.

Required Experience:
  • High School diploma or GED equivalent. Must have a minimum of 10 years of experience in financial crimes or related financial industry or law enforcement field.

Preferred Experience:
  • Bachelor's degree. Experience in financial crimes risk assessment.
    ACAMS, CFE.

About USAmeriBancorp

Valley National Bancorp, doing business as Valley Bank, is a regional bank holding company headquartered in Wayne, New Jersey with approximately $42 billion in assets. Its principal subsidiary, Valley National Bank, currently operates over 230 branch locations in northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn, and Queens, as well as Long Island, Florida, and Alabama. Valley Bank holds approximately $29 billion in assets. ,Valley Bank is one of the largest commercial banks headquartered in New Jersey.
Learn more about USAmeriBancorp
Industry
Legal & Accounting
* Ladders Estimates

Similar Jobs

Ad banner background

Get Ready For Your
Next Interview

More Jobs at USAmeriBancorp

  • USAmeriBancorp
    Business Banker III
    $70K — $95K *
    Los Angeles, CA 90011 (Los Angeles County)
    Yesterday
    Finance & Insurance
    In-Person
  • USAmeriBancorp
    Data Scientist
    $90K — $130K *
    Morristown, NJ 07960 (Morris County)
    Yesterday
    Finance & Insurance
    In-Person
  • USAmeriBancorp
    Credit Risk Team Lead
    $90K — $120K *
    Phoenix, AZ 85032 (Maricopa County)
    Yesterday
    Finance & Insurance
    In-Person
  • USAmeriBancorp
    Business Banker III
    $80K — $120K *
    New York, NY 10025 (New York County)
    4 days ago
    Finance & Insurance
    In-Person
  • USAmeriBancorp
    Manager, Client Services
    $90K — $120K *
    New York, NY 10025 (New York County)
    1 week ago
    Finance & Insurance
    In-Person

More Finance & Insurance Jobs

Find similar FCC Risk Assessment Lead jobs:

NationwideMorristown, NJ