Responsibilities & Duties
Responsible for periodic alert generation and triaging and assigning the alerts to staff appropriate to different level of the skill sets.
Responsible for supervising and managing a transaction monitoring team in money laundering and terrorist financing matters.
Responsible for monitoring, reviewing and approving team's cases, SARs and escalations and ensure regulatory expectations / obligations are met.
Provide periodic reports on case findings, performances, status, staffing etc. to deputy BSA officer.
Manage a caseload of investigations, perform analysis and follow up and work cases to completion according to BBCN BSA Transaction Monitoring and SAR procedures and processes and its desktop process.
Ensure all alerts determinations are appropriate, fully supported and clearly documented in timely manner.
Ensure that analyst develop and maintain solid understanding of the legal definition of the financial crimes being investigated.
Lead ongoing comprehensive training designed to inform the investigators about policy, procedures changes, typologies, recent trends, updates, etc.
Continuously evaluate operational procedures and recommend changes to improve processes for efficiencies and effectiveness of the program.
Support departmental project as needed.
Ensure all escalated cases to SAR team are subjected for SAR filing or disposed with proper documentations and justification.
Responsible for developing team's performance goals, plans and execution of the plans in timely manner as guided by the Bank's P & P.
Escalate significant SAR cases to KYC team for further due diligence review for customer retention decision.
Support management with internal audit, AML compliance and regulatory review as needed.
Perform periodic quality control testing and conduct training for the BSA.
4 Year College Degree or equivalent experience.
7+ years of experience in reviewing customer transactions and information for potential suspicious activity and performing AML investigation.
Strong knowledge of banking and its products and services.
Understanding of BSA, AML, OFAC and other regulatory policies with ability to apply and explain regulatory concepts.
Strong analytical and communication skills and must be able to prioritize the given tasks, multi-task and complete the tasks/project on time.
Must be excellent in detail and follow up skills.
Strong investigation and research skills in use of MS words, excel, and internet/ online research system.
Strong interpersonal, written and verbal communication skills.
Strong supervisory and leadership skills.
Self-starter, capable of working under minimum supervision, Results oriented team player.