Silicon Valley Bank
SVB-Enhanced Due Diligence Associate- Controlled Substances and Gaming
Silicon Valley Bank, Austin, Texas, us, 78716
SVB-Enhanced Due Diligence Associate- Controlled Substances and Gaming
Apply for the
SVB-Enhanced Due Diligence Associate- Controlled Substances and Gaming
role at
Silicon Valley Bank
Overview This is a hybrid role, with the expectation that time working will regularly take place inside and outside of our Phoenix, Denver, Austin, Dallas, or Charlotte office. SVB’s First Line of Defense (FLOD) Enhanced Due Diligence Know Your Customer ("EDD KYC") team is responsible for conducting enhanced due diligence on higher‑risk client segments that may pose higher risk for money laundering, terrorist financing, sanctions, or reputation risk in support of all legal and regulatory requirements as a large financial institution.
As a FLOD Controlled Substance/Hemp and Gambling EDD KYC Analyst, you will be part of SVB’s FLOD EDD KYC Team tasked with leading enhanced due diligence reviews of prospective and existing clients, ensuring compliance with the bank’s risk appetite and applicable regulations, including federal, state, and local hemp and cannabis laws, as well as the Unlawful Internet Gambling Enforcement Act (UIGEA). You will be the identified expert on BSA/AML compliance for the FCB Commercial Bank by the relationship team and clients. You will engage with clients, peers and risk professionals, all levels of management, and other internal or external constituents to deliver comprehensive views on EDD matters and represent the reasoning of EDD disposition on behalf of the organization.
It will be critical for you to stay current with Controlled Substance/Hemp/Gambling developments, applicable regulatory and government administrative policy changes, seek ways to enhance current processes and controls, and communicate with your peers and partners. This role is required to both execute and educate on these unique ecosystems; additionally, the role will build, develop, and improve processes, as well as coach those around you.
Responsibilities
Perform thorough EDD reviews on new and existing clients engaged in the broader Controlled Substance/Hemp/Gambling ecosystems, ensuring compliance with regulatory requirements and internal policies.
Conduct in‑depth analysis of client profiles and business activities, including review of client’s certificates of analyses and ownership structures to assess money laundering, terrorist financing, and other financial crime risks.
Review and verify client documentation including identification documents, business licenses, legal opinion letters, financial statements, and transaction records to ensure accuracy and completeness of KYC information.
Assist clients and prospects in establishing the proper control environment to ensure compliance with the bank’s requirements.
Serve as a subject‑matter expert and ensure compliance with regulatory requirements, industry standards and best practices related to EDD, KYC, BSA, sanctions and AML regulations.
Document and maintain accurate records of due diligence reviews, including findings, decisions, and supporting documentation in accordance with internal policies and regulatory standards.
Partner with Compliance, Internal Audit, and other departments to respond to examinations and audit requests, manage the execution and implementation of action plans, and ensure all processes and changes implemented fully comply with applicable regulations and legislation.
Lead and champion efforts on identifying and managing existing and emerging risks identified through reviews, ensuring these risks are effectively assessed, communicated, and controlled.
Conduct assessments and profiling of clients based on risk factors including business type, transaction volume and geographical location.
Analyze client transactions and account activity to identify red flags indicative of potential financial crimes or higher‑risk activities.
Identify and communicate opportunities to automate or streamline quality and compliance efforts.
Develop and report risk‑tolerance metrics and provide ongoing reporting on the high‑risk sector pipeline to senior management.
Communicate effectively with internal stakeholders, relationship managers, and business units to address queries and resolve issues related to EDD.
Provide expertise in assessing pre‑launch or emerging business models to align with internal requirements for EDD and approval.
Collaborate with cross‑functional teams to share insights, provide support, training and guidance on policies, procedures, and best practices, promoting a culture of compliance.
Qualifications Bachelor’s Degree with a minimum of 4 years of Commercial Enhanced Due Diligence review experience in banking with exposure to controlled substances and/or gaming, OR High School Diploma or GED with a minimum of 8 years of experience.
Preferred Area Of Experience
KYC Compliance at a Large Financial Institution or FinTech.
BA, Finance, Economics, Legal, or Criminal Justice.
License/Certification: Association of Certified Anti‑Money Laundering Specialists (ACAMS) or Certified Fraud Examiner.
Exhibit a comprehensive understanding of Cannatech/Hemp and/or Gambling ecosystems and how they are regulated.
Controlled Substance/Gambling‑specific investigative work experience, including in‑depth review of hemp customers’ products and legal opinions for gaming clients.
Demonstrate knowledge of international and regional financial crime risks, including anti‑money laundering, counter‑terrorism financing risks, fraud, and prevention and mitigation processes and controls.
Understanding of the compliance and regulatory frameworks that apply to financial institutions, with emphasis on FinCEN regulations, FFIEC guidelines, Bank Secrecy Act and U.S. PATRIOT Act.
Ability to assess compliance programs, processes, and controls.
Ability to work collaboratively with peers and leaders to attain common goals.
Ability to communicate effectively both in writing and orally, in person and by telephone, with all levels of the organization and with bank clients.
Ability to work independently, take initiative, and have strong verbal and written communication skills.
Good analytical, research, organizational, and project‑management skills.
Flexibility in learning new topics, handling change, and meeting deadlines to address newly identified risks or process changes.
Strong understanding of requisite Microsoft Office applications and ability to learn new internal systems quickly.
Compensation If hired in Denver, the base pay for this position is generally between $89,000 and $120,000. Actual starting base pay will be determined based on skills, experience, location, and other non‑discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.
Benefits Benefits are an integral part of total rewards and Silicon Valley Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.
Job Information
Seniority level: Not Applicable
Employment type: Full‑time
Job function: Other
Industry: Banking and Financial Services
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SVB-Enhanced Due Diligence Associate- Controlled Substances and Gaming
role at
Silicon Valley Bank
Overview This is a hybrid role, with the expectation that time working will regularly take place inside and outside of our Phoenix, Denver, Austin, Dallas, or Charlotte office. SVB’s First Line of Defense (FLOD) Enhanced Due Diligence Know Your Customer ("EDD KYC") team is responsible for conducting enhanced due diligence on higher‑risk client segments that may pose higher risk for money laundering, terrorist financing, sanctions, or reputation risk in support of all legal and regulatory requirements as a large financial institution.
As a FLOD Controlled Substance/Hemp and Gambling EDD KYC Analyst, you will be part of SVB’s FLOD EDD KYC Team tasked with leading enhanced due diligence reviews of prospective and existing clients, ensuring compliance with the bank’s risk appetite and applicable regulations, including federal, state, and local hemp and cannabis laws, as well as the Unlawful Internet Gambling Enforcement Act (UIGEA). You will be the identified expert on BSA/AML compliance for the FCB Commercial Bank by the relationship team and clients. You will engage with clients, peers and risk professionals, all levels of management, and other internal or external constituents to deliver comprehensive views on EDD matters and represent the reasoning of EDD disposition on behalf of the organization.
It will be critical for you to stay current with Controlled Substance/Hemp/Gambling developments, applicable regulatory and government administrative policy changes, seek ways to enhance current processes and controls, and communicate with your peers and partners. This role is required to both execute and educate on these unique ecosystems; additionally, the role will build, develop, and improve processes, as well as coach those around you.
Responsibilities
Perform thorough EDD reviews on new and existing clients engaged in the broader Controlled Substance/Hemp/Gambling ecosystems, ensuring compliance with regulatory requirements and internal policies.
Conduct in‑depth analysis of client profiles and business activities, including review of client’s certificates of analyses and ownership structures to assess money laundering, terrorist financing, and other financial crime risks.
Review and verify client documentation including identification documents, business licenses, legal opinion letters, financial statements, and transaction records to ensure accuracy and completeness of KYC information.
Assist clients and prospects in establishing the proper control environment to ensure compliance with the bank’s requirements.
Serve as a subject‑matter expert and ensure compliance with regulatory requirements, industry standards and best practices related to EDD, KYC, BSA, sanctions and AML regulations.
Document and maintain accurate records of due diligence reviews, including findings, decisions, and supporting documentation in accordance with internal policies and regulatory standards.
Partner with Compliance, Internal Audit, and other departments to respond to examinations and audit requests, manage the execution and implementation of action plans, and ensure all processes and changes implemented fully comply with applicable regulations and legislation.
Lead and champion efforts on identifying and managing existing and emerging risks identified through reviews, ensuring these risks are effectively assessed, communicated, and controlled.
Conduct assessments and profiling of clients based on risk factors including business type, transaction volume and geographical location.
Analyze client transactions and account activity to identify red flags indicative of potential financial crimes or higher‑risk activities.
Identify and communicate opportunities to automate or streamline quality and compliance efforts.
Develop and report risk‑tolerance metrics and provide ongoing reporting on the high‑risk sector pipeline to senior management.
Communicate effectively with internal stakeholders, relationship managers, and business units to address queries and resolve issues related to EDD.
Provide expertise in assessing pre‑launch or emerging business models to align with internal requirements for EDD and approval.
Collaborate with cross‑functional teams to share insights, provide support, training and guidance on policies, procedures, and best practices, promoting a culture of compliance.
Qualifications Bachelor’s Degree with a minimum of 4 years of Commercial Enhanced Due Diligence review experience in banking with exposure to controlled substances and/or gaming, OR High School Diploma or GED with a minimum of 8 years of experience.
Preferred Area Of Experience
KYC Compliance at a Large Financial Institution or FinTech.
BA, Finance, Economics, Legal, or Criminal Justice.
License/Certification: Association of Certified Anti‑Money Laundering Specialists (ACAMS) or Certified Fraud Examiner.
Exhibit a comprehensive understanding of Cannatech/Hemp and/or Gambling ecosystems and how they are regulated.
Controlled Substance/Gambling‑specific investigative work experience, including in‑depth review of hemp customers’ products and legal opinions for gaming clients.
Demonstrate knowledge of international and regional financial crime risks, including anti‑money laundering, counter‑terrorism financing risks, fraud, and prevention and mitigation processes and controls.
Understanding of the compliance and regulatory frameworks that apply to financial institutions, with emphasis on FinCEN regulations, FFIEC guidelines, Bank Secrecy Act and U.S. PATRIOT Act.
Ability to assess compliance programs, processes, and controls.
Ability to work collaboratively with peers and leaders to attain common goals.
Ability to communicate effectively both in writing and orally, in person and by telephone, with all levels of the organization and with bank clients.
Ability to work independently, take initiative, and have strong verbal and written communication skills.
Good analytical, research, organizational, and project‑management skills.
Flexibility in learning new topics, handling change, and meeting deadlines to address newly identified risks or process changes.
Strong understanding of requisite Microsoft Office applications and ability to learn new internal systems quickly.
Compensation If hired in Denver, the base pay for this position is generally between $89,000 and $120,000. Actual starting base pay will be determined based on skills, experience, location, and other non‑discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.
Benefits Benefits are an integral part of total rewards and Silicon Valley Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.
Job Information
Seniority level: Not Applicable
Employment type: Full‑time
Job function: Other
Industry: Banking and Financial Services
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