Please Enable Cookies to Continue Please enable cookies in your browser to experience all the personalized features of this site, including the ability to apply for a job. Returning Candidate? BSA/AML Manager Location US-CA-Pasadena
Job ID 2020-8013
Category Legal Compliance
Position Type Full-Time
For more than 40 years, East West Bank has served as a pathway to success. With over 130 locations across the U.S. and Greater China, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities. And our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, high-tech and aviation help build sustainable businesses and expand our employees’ potential for career advancement.
Headquartered in California, East West Bank (Nasdaq: EWBC) is a top performing commercial bank with an exclusive focus on the U.S. and Greater China markets. With assets of $41 billion, we’re ranked among the 30 largest banks in the United States and currently top 8 in “America’s 100 Best Banks” by Forbes, a list where we've consistently been in the top 15 since 2010. With a strong foundation, an enterprising spirit and a commitment to absolute integrity, East West Bank gives people the confidence to reach further.
East West Bank is currently seeking a Senior Bank Secrecy Act (BSA) Manager for the BSA Department. This person will report up to the Deputy BSA Officer in our Pasadena location. The BSA Manager will oversee and review new and existing high risk customer accounts to ensure compliance with BSA, USA Patriot Act and other regulatory requirements. The customer reviews covers the full end-to-end BSA monitoring process such as performing initial/ongoing due diligence and mitigating risk, monitoring AML transaction alerts, identifying and reporting suspicious activity, escalate pertinent issues, while working closely with relationship managers, account officers and/or customers in addition to BSA management throughout the process.
As BSA Manager, your responsibilities are to:
- Review and approve cases for content, verbiage, backup documents and overall correctness. Ensure timely completion of assigned duties. Review cases prior to BSA Manager’s approval.
- Review subpoenas and assign to analyst for review if necessary
- Escalate accounts for review/ possible closure to the Risk and Operations Department. Provide supporting documentation to law enforcement.
- Distribute weekly follow-up cases, monthly structuring report cases, wire velocity report and other manual reports to analysts for review.
- Conduct initial enhanced due diligence for prospective higher risk customers and recommend decision to onboard/decline based on supporting risk assessment (e.g. customer type, geographic, products/services, counterparties, beneficial owners, expected transactions, etc.) performed on the prospect as well as related parties and determine risk rating.
- Continue to monitor and perform periodic enhanced due diligence reviews of approved high risk individuals and entities based on customer’s risk profile
- Review and make decision on AML/ suspicious transaction monitoring alerts and file initial and supplemental suspicious activity reports (SAR) to FinCEN on a timely basis, as warranted.
- Analyze data, review customer documentation (e.g. invoices, POS reports, and manifests) and results of existing transaction monitoring reports to determine the level of further investigation warranted, and take appropriate action.
- Gather information from outside resources such as Internet searches, third-party vendors, public records, newspaper articles, court records, government agencies, etc.
- Reviews results from third-party vendors regarding authentication of identification on individuals and businesses, OFAC and government list, closed for cause, etc.
- Promptly escalates to appropriate department on issue that arises (e.g. operational, security, legal, management committees, IT, etc.)
- Develops relationships within appropriate levels of staff for issue identification and resolution (e.g. account closures).
- Proactively stays up to date and knowledgeable on internal policies, procedures, BSA/AML/OFAC and related regulatory requirements, FinCEN guidelines, local/state requirements and industry practices.
- Use analytical skills to produce and follow leads, as well as link common or related activities to develop complete picture of suspicious activity and uncover new trends in suspicious behavior
- 5+ years’ experience of BSA/AML/OFAC related activities in financial services industry
- 7+ year's of management experience
- Experience conducting financial crime investigations, money laundering monitoring and/or other related BSA/AML experience
- Banking, operations, BSA & USA Patriot acts background including performing EDD reviews on complex relationships required
- Bachelor’s Degree preferred or equivalent experience
- Well-organized, analytical, and critical thinking skills
- Excellent verbal and written communication
- Strong attention to detail, writing skills
- Ability to work in a fast paced environment, creative out-of-the-box thinker, internet savvy, solutions oriented, handle tight deadlines, adaptable to changes in requirements
- Able to meet production and quality goal requirements set by BSA management
- Experience with NICE Actimize preferred
- CAMS certification preferred
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