Director of US FIU

  • £180,000 - £200,000
  • New York, NY, USA New York NY US
  • Permanent, Full time
  • BSM Group
  • 19 Apr 18 2018-04-19

BSM Group are representing a client seeking a Director of US FIU.

Key Responsibilities:

Business Strategy 

  • Assist the BSA/AML Officer in developing, implementing and enhancing an AML Transaction Monitoring alert analysis and suspicious activity investigation and reporting program that is aligned with the Bank’s business and risk parameters, is consistent with industry standards, and meets regulatory expectations. 
  • Develop a thorough understanding of the business, risks, and processes with respect to AML compliance and monitor the regulatory environment for emerging legislation and policy statements, along with industry trends, market developments, and best practices relating to AML Transaction Monitoring. 

Business Plan Execution/Business Growth 

  • Coordinate and direct the implementation of an effective AML Transaction Monitoring alert analysis and suspicious activity investigations program for the “Firm’s” U.S. operations to help ensure that the Bank is adhering to relevant federal and state laws and regulations. 
  • Provide regular reports and communication on the status and health of the AML Transaction Monitoring alert analysis and suspicious activity investigations program to the U.S. BSA/AML Officer, & the Global Head of GBM AML/ATF and other senior management. 

Operational Management and Improvement 

  • Assist the U.S. BSA/AML Officer with the design, implementation and enhancement of AML Transaction Monitoring systems and processes. 
  • Develop responses and plans to remediate self-identified issues as well as those raised by audits and regulatory examinations. 
  • Design and implement strategies to address increases in alert volume by enhancing effectiveness and efficiency of alert reviews while maintaining ability to address risk. 

Relationship Management 

  • Develop close working relationships with U.S. business lines and other key groups, including Onboarding, Money Transfer Operations, Global Anti-Money Laundering Unit (“GAMLU”), Global Financial Intelligence Unit, and NY Operations. 

Specific Accountabilities 

  • Manage the FIU, which is responsible for investigating suspicious transactions resulting either from an exception identified through the transaction monitoring system or through referrals from individuals in operations, the business or GAMLU. 
  • Act as Chair of the Suspicious Activity Report (SAR) Committee, which reviews and determines all cases that require a SAR filing. 
  • Review all proposed SAR filings for quality in advance of formal submission to the SAR Committee. 
  • Monitor potentially suspicious patterns of activity and recommend changes to rules, parameters, and thresholds maintained within the transaction monitoring system to ensure its continued effectiveness. 
  • Ensure that detected information regarding AML violations is effectively communicated to the U.S. BSA/AML Officer, the Global Head of GBM AML/ATF, other senior management, and appropriate regulatory authorities in a timely manner. 
  • Assist in the preparation of an annual BSA/AML risk assessment as it pertains to the AML Transaction Monitoring alert analysis and suspicious activity investigations and reporting program in line with “Firm” methodology and regulatory expectations. 
  • Oversee the development and delivery of appropriate training of U.S. FIU personnel. 
  • Manage large investigations and serve as US point of contact for global investigations. 
  • Attend and take a leadership role in AML Transaction Monitoring-related industry forums. 
  • Oversee and ensure the production of timely and effective AML Transaction Monitoringrelated management information (“MI”) and other applicable information to U.S. BSA/AML Officer & the Global Head of GBM AML/ATF and other senior management. 
  • Ensure alignment with “Firm” AML Transaction Monitoring alert analysis and suspicious activity investigations and reporting quality and production standards. 

Leadership 

  • Provide leadership and management to U.S. FIU personnel. 
  • Be proactive in considering and identifying areas and issues that may pose AML compliance risks to the Bank. 
  • Demonstrate advanced communication, coaching, and influencing skills with a proven ability to gain consensus. 
  • Display ability to balance strategic and day-to-day/transactional perspectives. 
  • Demonstrate ability to provide timely updates on AML monitoring issues to line of business.

Key requirements:

  • Minimum Bachelor’s degree in business or related field
  • Minimum 5-7 years in financial services operations and AML compliance 
  • Expert knowledge of AML Transaction Monitoring systems, analytical and investigative processes and reporting requirements.   
  • Strong managerial, communications, analytical, organizational, project management, and planning skills. 
  • Strong knowledge of business, products, operations, systems, and organization. 
  • Considerable contact with Internal Audit and Regulators preferably as the point of contact and representative of department.

If you require any more information please contact Gregory Pallay: gregorypallay@bsmgroup.com or (646) 618 8862