Compliance Analyst, AVP Quincy, Massachusetts/en-US/Global/job/Quincy-Massachusetts/Compliance-Analyst-Off_R-634784/apply
Enhanced Due Diligence Compliance Analyst, AVP
Scope of Role
The incumbent will conduct oversight of Enhanced Due Diligence reviews of new and existing customers in accordance with State Street Corporation EDD policy requirements. Oversight includes ensuring KYC/EDD requirements adhere to policy and procedures. Additional related duties include the process of reviewing AML/Politically Exposed Persons (PEP) and Negative News alerts which may require escalation. Duties include internal research through Bank owned systems as well as the use of external approved systems. As an EDD team member, the incumbent will interact with Business Units, AML Officers/MLROs and other Compliance Units and will require a high level of customer service skills, as well as knowledge of the relevant Bank Secrecy Act, KYC Process and EDD Requirements. The incumbent will have the opportunity to formulate and communicate new ideas and suggestions that will improve efficiency of operations.
The candidate will support the Head of EDD team in oversight and management of the EDD team and be the primary lead for interactions with the First Line of Defense.
- Conduct oversight of Enhanced Due Diligence (EDD) reviews for High Risk Customers (New and Existing).
- Conduct clearing of AML/PEP/Negative News Alerts Escalate when required.
- Summarize relevant findings and observations in a narrative report that presents conclusions and/or further recommendations, as necessary.
- When required, work with account officers/relationship managers/Global Support teams to perform additional or specialized due diligence research.
- Support the Head of the EDD team in oversight and management of the EDD team.
- Provide support in the completion of Regulator/Audit requests.
- Primary participant for the EDD team on relevant working groups.
- Ensure EDD procedures and process maps are current.
- Formulate and communicate new ideas and suggestions that will improve efficiency for the companys overall operation and cost effectiveness.
- Development and deliver training materials and educate and raise awareness regarding the regulatory changes.
- Understand and comply with bank policy, laws, regulations, and the bank's BSA/AML Program, as applicable to your job duties. This includes but is not limited to; complete compliance training and adhere to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity.
- Establish and maintain effective working relationships with co-workers, bank associates, and members of risk management-related fields.
- Uphold the State Streets Code of Ethics and ensure that confidential information is safeguarded.
- Promote professionalism at all times.
- To perform this job successfully, an individual must be able to perform each essential duty satisfactorily and independently.
- Bachelors degree in related field or equivalent work experience required
- 6-10 years previous work experience in the banking industry required with practical knowledge of KYC and EDD
- ACAMS Certification Preferred
Skills and Experience:
- Must possess experience in the assessment of PEP risks
- Knowledge of the relevant Bank Secrecy Act, KYC Process and EDD Requirements
- Able to manage multiple simultaneous tasks in a high pressure, deadline environment
- Must be able to work cooperatively with co-workers regardless of personality, presence or communication style and disabilities
- High level of customer service skills
- Must have the technical ability to work with Microsoft Products (Work/Excel/PowerPoint/Access)
- Must be able to arrive at work on time, attend meetings on site and have regular work attendance
- Must be able to verbally communicate with all other associates in a respectful manner
Posted 6 Days AgoFull timeR-634784
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