AVP/VP BSA Officer
- Commensurate with Experience
- New York, NY, USA
- Permanent, Full time
- 05 Dec 17 2017-12-05
The incumbent will perform the role of a BSA Officer for Commodity Business Center- NY and support the Head of CBC in managing the compliance risk of the portfolio.
Compliance and Quality Control:
- Perform Bank Secrecy Act (BSA)/Anti-Money Laundering (AML)-related risk control and quality assurance tasks for Commodity Business Center.
- Work with Account Officers to onboard clients, ensure that clients and transactions adhere to bank’s AML and other compliance-related policies- including, but not limited to, ensuring documents are reviewed and executed in line with delegated authorities, payments are authorized by appropriate signatories.
- Lead the drafting of departmental procedures (i.e. Business Procedures and Credit underwriting Procedures), seek approval from Second Lines of Defense.
- Identify, monitor, manage and report on operational risk issues.
- Lead discussions with internal monitoring departments such as Internal Audit/LCD regarding compliance issues.
- Ensure the Bank’s policies and departmental procedures are adhered to.
- Work with Account Officers to monitor timely receipts of the clients’ financial reporting, financial covenant compliance certificates and borrowing base reports.
- Independently review and assess collateral management reports submitted by third-party collateral managers and borrowers.
- Identify issues/concerns and escalate to Department Head/Risk, as appropriate. Work with Front Office team and Risk to identify potential solutions to address these concerns.
- Coordinate reporting between CBC and Risk (RMD)/ Operations (TSD/OSD).
- Ensure portfolio standards are adhered to.
- Ensure that all requirements under credit approval and legal documents are met in a timely manner.
- Coordinate with the team and provide responses to queries arising from internal/external audits and regulatory examination.
- Develop and implement departmental risks control procedures as according to Bank’s policies and guidelines.
- Responsible for ensuring quality and timeliness of the work assigned to direct reports.
- Coordinate with regional branches and support Head of the team in regional management.
- 7-10 years of Front/Middle Office experience in a Bank (required)
- 3-5 years of compliance related experience in a Bank (required)
- 2-3 years of asset based lending/commodities (desired)
- Bachelor’s Degree
- Knowledge of US Banking regulations including Bank Secrecy Act, AML, OFAC & other regulations
- Knowledge of collateral management procedures
- Knowledge of commodity markets & related financing structures (desired)
- ACAMS professional certification