Jersey City, NJ
Industry: Accounting, Finance & Insurance•
5 - 7 years
Posted 50 days ago
Reporting to the Group Manager of Compliance Operations, the Department Head of Transaction Examination Support (TES) provides direction and leadership to the department and ensures compliance of all transaction examination activities in accordance with regulatory requirements (BSA/AML/OFAC), NYSDFS rules, SMBC policies and procedures. The department has both day and night shifts Within Compliance Operations, TES is responsible for the first level of screening and review of account activity, maintenance of transaction rules, and for fraud monitoring and prevention limited to the cash management process (eMoneyger). The Department Head directs a defined-infrastructure area and leads the team in day-to-day execution and broader planning of department strategy. The position draws upon experience and sound judgement to lead and manage team, make decisions regarding the execution of transactions, and determinations regarding examination activities. Department Head is senior most point of resolution. Complex transactions escalated to the next level of management. Number of direct reports: 4 Number of indirect reports: 16-20 in night and day shifts
Ensures compliance with all regulatory practices outlined by CPAD BSA/AML/OFAC and adherence to Bank policies and procedures. Specifically ensures that the Sanctions disposition process is well documented.
Ensures the performance, development and ongoing training of all staff, and understanding and adherence to all regulatory requirements and policies and procedures.
Manages employee relations, workforce planning, performance management, and mentor-ship for all in scope members.
Oversees SWIFT RMA applications generated by relationship managers and maintains communication updates.
Ensures execution and maintenance of intake information as it relates to programs directed by CPAD; escalates transactions of concern with clarifying information to CPAD for review.
Ensures completion of requests from BSA Officer in relation to conditional approvals or other requirements.
Prepares reports and other materials as required in response to inquiries from internal and external auditors, bank departments, and regulators.
Provides timely updates of internal bank policy changes, new regulatory compliance requirements, and recommendations from CPAD.
Participates in system testing and implements system upgrades to ensure the integrity of systems and processes for transaction monitoring.
Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.
Maintains open communication with BCDAD management for all matters relating to TES
Reviews, monitors and prepares necessary reports of the department's activities
Ensures support of change management process including testing of applications used by the department.
Strong management skills; influencing and delegation skills.
Expert level knowledge of market practices related to foreign and domestic money transfers.
Expert level knowledge in payments systems, Wires and ACH transactions.
Expert level knowledge of banking policies, statutory and compliance regulations.
Expert level understanding of legal aspects and record-keeping requirements of banking regulations relating to money transfer (especially OFAC economic sanctions, Bank Secrecy Act, USA PATRIOT Act).
Expert knowledge of Montran and/or FircoSoft on similar funds transfer/filtering systems; knowledge of Fircosoft rules/exceptions process to mitigate false positive hits.
Strong sense of urgency, accuracy and accountability; responsive to time sensitive needs.
Strong presentation and communication skills.
Functional level knowledge of system test scripts.
Functional level knowledge of accounting principals and practices.
7 to 10 years of specialized experience in Financial Services Compliance, Payment System or Money Transfer preferred 5 years in management.
Preferred: BA / BS (or equivalent experience)
2018 - 0793