Bank of China Limited, New York Branch
Legal & Compliance Department-BSA/AML Strategy, Program and Control (SPC) AVP
Bank of China Limited, New York Branch, New York, New York, us, 10261
Introduction
Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.
Overview The SPC Assistant Vice President (AVP) will primarily be responsible for conducting random quality assurance sample testing for BSA/AML Compliance teams. This includes, but is not limited to, Transaction Monitoring alert reviews, case investigations, SARs and KYC cases utilizing a defined risk based approach and structured testing framework to ensure compliance with bank policies, procedures and regulatory requirements. This role will also be responsible for assistance with oversight, training, and other SPC initiatives.
Responsibilities Include but not limited to:
SPC Functions
Perform reviews of BSA/AML team’s deliverables (e.g., findings, research, narratives, and dispositions) for quality and adherence to the bank’s standards and policies
Provide analyst guidance as deemed necessary
Communicate quality errors to the respective owner ensuring clear understanding of errors made and develop prevention strategies
Analyze QA findings for trends and report any concerns
Review the QA process and provide recommendations on areas of improvement
Prepare summary reports/metrics and present analysis to management (as requested)
Report any alerts, cases or SARs that are outstanding past their due date to supervisor
Report any critical findings/analysis to supervisor and/or Senior Management
Participate, prepare and or respond to inquiries deriving from internal (i.e. IAD/CMTG) or external (i.e. OCC) reviews
Participate, lead, and/or manage SPC initiatives, the implementation of new processes and special projects.
SPC Oversight
Manage and monitor the QA schedule
Participate and manage SPC related projects
Provide advice on SPC processes and procedures
Provide insights and recommendations in updating departmental processes for operational efficiency
Monitor regulatory activities and industry developments to identify trends and emerging issues that may have an impact on the bank and the compliance testing program
Lead weekly status team meetings to address and resolve any concerns or deadlines (as required)
Training
Provide instructional leadership and coaching to team
Assist with the design and delivery of training
Evaluate training program qualification tests and determine eligibility of prospective attendees
Coordinate the logistics for the trainings including scheduling of rooms, preparing training materials, contacting attendees and others
Complete training as prescribed from management
Compliance
Ensure compliance with BSA/AML related laws and regulations, identify matters of noncompliance and elevate any issues or concerns as necessary for resolution
Provide timely responses to requests initiated by supervisor, IAD, CMTG, Senior Management, or other internal/external (i.e. OCC) inquiries related to position
Stay informed of related regulatory matters through Federal agency updates and guidance and through industry webinars and conferences
Qualifications
Bachelor Degree required
Minimum 5 years of experience in AML/OFAC, Banking, Finance, Risk Management, Legal, Compliance or relevant industry
Knowledge of U.S. Banking regulations; Good knowledge and understanding of general OFAC, BSA/AML, and USA PATRIOT Act and risk management principles
CAMS certification preferred
Pay Range Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.
USD $65,000.00 - USD $150,000.00 /Yr.
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Overview The SPC Assistant Vice President (AVP) will primarily be responsible for conducting random quality assurance sample testing for BSA/AML Compliance teams. This includes, but is not limited to, Transaction Monitoring alert reviews, case investigations, SARs and KYC cases utilizing a defined risk based approach and structured testing framework to ensure compliance with bank policies, procedures and regulatory requirements. This role will also be responsible for assistance with oversight, training, and other SPC initiatives.
Responsibilities Include but not limited to:
SPC Functions
Perform reviews of BSA/AML team’s deliverables (e.g., findings, research, narratives, and dispositions) for quality and adherence to the bank’s standards and policies
Provide analyst guidance as deemed necessary
Communicate quality errors to the respective owner ensuring clear understanding of errors made and develop prevention strategies
Analyze QA findings for trends and report any concerns
Review the QA process and provide recommendations on areas of improvement
Prepare summary reports/metrics and present analysis to management (as requested)
Report any alerts, cases or SARs that are outstanding past their due date to supervisor
Report any critical findings/analysis to supervisor and/or Senior Management
Participate, prepare and or respond to inquiries deriving from internal (i.e. IAD/CMTG) or external (i.e. OCC) reviews
Participate, lead, and/or manage SPC initiatives, the implementation of new processes and special projects.
SPC Oversight
Manage and monitor the QA schedule
Participate and manage SPC related projects
Provide advice on SPC processes and procedures
Provide insights and recommendations in updating departmental processes for operational efficiency
Monitor regulatory activities and industry developments to identify trends and emerging issues that may have an impact on the bank and the compliance testing program
Lead weekly status team meetings to address and resolve any concerns or deadlines (as required)
Training
Provide instructional leadership and coaching to team
Assist with the design and delivery of training
Evaluate training program qualification tests and determine eligibility of prospective attendees
Coordinate the logistics for the trainings including scheduling of rooms, preparing training materials, contacting attendees and others
Complete training as prescribed from management
Compliance
Ensure compliance with BSA/AML related laws and regulations, identify matters of noncompliance and elevate any issues or concerns as necessary for resolution
Provide timely responses to requests initiated by supervisor, IAD, CMTG, Senior Management, or other internal/external (i.e. OCC) inquiries related to position
Stay informed of related regulatory matters through Federal agency updates and guidance and through industry webinars and conferences
Qualifications
Bachelor Degree required
Minimum 5 years of experience in AML/OFAC, Banking, Finance, Risk Management, Legal, Compliance or relevant industry
Knowledge of U.S. Banking regulations; Good knowledge and understanding of general OFAC, BSA/AML, and USA PATRIOT Act and risk management principles
CAMS certification preferred
Pay Range Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.
USD $65,000.00 - USD $150,000.00 /Yr.
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