AML Operations Team Leader, Vice President
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Job Summary: Reporting to an Anti-Money Laundering (AML) Operations Department Manager, the AML Operations Team Leader supervises a team of AML professionals responsible for transaction monitoring alert reviews and , detailed investigations in support of the Bank's BSA/AML program. The AML Operations Team Leader will oversee the work of up to eight (8) AML investigators to ensure transaction activity is effectively monitored and that suspicious activity is appropriately investigated, evaluated, documented and addressed. This position requires a very sound operations management/supervisory background and direct experience with BSA/AML.
Provide Direct Supervision of AML investigators: 10%
Establish staff performance goals, assess performance, and conduct staff performance evaluations.
Ensure investigators meet key performance objectives in order to support the Bank’s overall BSA/AML mission.
Interview candidates and make hiring recommendations for open positions.
Make salary, promotion, and employment termination recommendations.
Track team performance and productivity.
Quality and Organizational Responsibilities: 10%
Assist in AML quality control processes in concert with the division's overall Quality Control (QC) program. Ensure staff obtain ongoing comprehensive training and professional development regarding AML typololgies and customer and product risks, Ensure satisfactory compliance with the Bank's BSA/AML policies.
Subject Matter Expertise and Continuing Education Responsibilities: 10%
Demonstrate and maintain effective knowledge of simple and complex financial activities, including (but not limited to: international finance, global markets products and services, corporate and personal investments, treasury management, and commercial finance. Keep abreast of current regulatory developments to ensure the implementation of appropriate AML operational procedures.
Supervise Daily Activities of the Unit: 60%
Assist the assigned AML Department Manager in establishing and maintaining efficient, scalable and risk-based analytical techniques and methods for evaluating client activity, enabling assigned staff to effectively identify situations requiring Suspicious Activity Reporting or escalation to other AML operations areas, the Financial Intelligence Unit Director, BSA Officer, and/or Business Unit Executives. Build and maintain positive professional relationships with other AML policy and operations areas, and other bank lines of business as appropriate. Establish and maintain superior customer service protocols with internal business partners. Provide technical guidance and mentoring to staff with respect to analytical techniques, research, and documentation standards. Provide coaching and training for new employees. Manage workflow and staffing of team to achieve departmental objectives. Establish workload priorities and assign work to investigators for transaction monitoring alerts, investigations and/or quality control activities. Act as escalation point for activities warranting further review, investigation, or notification. Review alert and cases prepared by investigators to ensure decision-making is appropriate and documented, alert and case narratives are complete, accurate and comply with internal policies. Ensure decisions not to file a SAR are well supported and documented. Review recommendations for client relationship termination to ensure decision-making is appropriate, well documented, and complies with internal policies and guidelines. Help develop strategies and implement plans to address new and emerging product, customer and transaction risks based upon this analysis.
Additional Duties as Assigned and Compliance and Regulatory Responsibilities: 10%
Assist assigned AML Department Manager to prepare for and respond to internal audit and regulatory examination reviews. Under the direction of the assigned AML Department Manager, ensure compliance with Federal information-sharing requests and regulations, including Grand Jury subpoenas, asset seizure orders, search warrants, National Security Letters, and USAPA 314(a) and (b) requests.
Typically requires a Bachelor's degree in Criminal Justice, Business or related field of study. Related professional certifications such as or CAMS are highly desirable.
Minimum 3-5 years of investigative or related experience with specific emphasis on BSA/AML and/or fraud prevention at a financial institution, regulatory or law enforcement agency.
Minimum 3+ years of managerial and supervisory experience, preferably involving at least 4 professional staff members.
Excellent interpersonal abilities including superior oral and written communication skills.
Expert knowledge of BSA/AML laws and regulations relative to money laundering and terrorist financing and the ability to apply this knowledge in assessing client activity and monitoring of high risk customer accounts.
Experience reviewing and analyzing foreign and domestic correspondent banking transaction activity highly desirable
Strong understanding of domestic and international wire transfers desirable
Knowledge of AML “red flags”, particularly with respect to wire transfers and correspondent banking is desirable.
Demonstrated experience in reporting and/or using Suspicious Activity Reports.
Proficient in the application of various automated systems used to monitor transaction activity such as deposits, wires, cash, and monetary instrument sales, and KYC systems.
Understanding of bank products and services and how they may be exploited for criminal purposes, including but not limited to money laundering and terrorist financing activities.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.