Executive Director, FCC Compliance Quality Assurance Testing
Full Time
White Plains, NY 10601
$233,000 - $259,000 a year
Posted
Job description
Overview:
SCOPE:
The BSA / AML QA Testing Executive Director position draws upon experience and sound judgement to help lead and manage the unit, make decisions regarding the test plan methodology and schedule, testing scope and parameters, including the identification and evaluation of test unit’s related controls and procedures, in addition to evaluating potential gaps and remediation plans to address potential concerns. The FCC QA Testing Director role will interact with key stakeholders from various internal bank departments such as KYC, Sanctions, FIU Investigations, Analytics, Program Management, Risk and Control, Anti-Fraud/ABC, and Internal Audit, in addition to engagement with external regulators and Head Office Personnel
The anticipated salary range for this role is between $233,000 and $259,000. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees. Responsibilities:
REQUIREMENTS
Reporting to the Head of Financial Crime Compliance in the Compliance Department, Americas Division, the BSA/AML QA Testing Executive Director manages the execution of SMBC's Americas Division Financial Crime Compliance testing program, with primary focus on BSA/AML and Sanctions testing. Additional testing responsibilities to be added for internal fraud and anti-bribery and corruption processes in FY23. The role is responsible for overseeing the day-to-day operations and managing a team of compliance professionals performing targeted reviews that assess the operating effectiveness of SMBC's BSA/AML and Sanctions controls, adherence to SMBC's BSA/AML and Sanctions policies, procedures, and processes, as well as applicable laws and regulations.
SCOPE:
The BSA / AML QA Testing Executive Director position draws upon experience and sound judgement to help lead and manage the unit, make decisions regarding the test plan methodology and schedule, testing scope and parameters, including the identification and evaluation of test unit’s related controls and procedures, in addition to evaluating potential gaps and remediation plans to address potential concerns. The FCC QA Testing Director role will interact with key stakeholders from various internal bank departments such as KYC, Sanctions, FIU Investigations, Analytics, Program Management, Risk and Control, Anti-Fraud/ABC, and Internal Audit, in addition to engagement with external regulators and Head Office Personnel
The anticipated salary range for this role is between $233,000 and $259,000. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.
The job responsibilities are described herein
- Manages a team performing FCC, primarily BSA/AML and Sanctions related testing, of NYB and group companies throughout SMBC's Americas Division.
- Assess compliance with FCC established policies and procedures.
- Perform research and information gathering sufficient to understand the process and controls to be tested.
- Identify, test, and evaluate related controls and procedures based on QA methodology and procedures, to highlight gaps relative ot business procedures.
- Scope, execute, and document properly designed QA compliance tests using appropriate sampling methods.
- Develop testing plan, procedures, and test scripts for the testing of the program areas and products and services
- Identify potential concerns and control gaps
- Determine the root cause of identified issues, where applicable
- Coordinate with stakeholders to define and implement corrective actions
- Perform validation of remediation activities to ensure control issues are effectively resolved.
- Perform special reviews or projects when necessary
- Document detailed substantive work papers, prepare findings and communicate to process owners and management.
CRITICAL JOB KNOWLEDGE AND CORE COMPETENCIES/SKILLS
- Strong working knowledge of FCC, particularly BSA/AML and sanctions, laws and regulations, and compliance requirements and standards that impact a global financial services firm such as KYC/client risk rating, transaction monitoring, suspicious activity reporting, client screening/sanctions requirements, and risk assessments.
- Strong management and leadership skills; experienced manager 10+ years
- Demonstrated professional maturity and experience managing in complex environments (matrixed organizations, Center of Excellence, regulatory enforcement action, remediation)
- Strong analytical skills to identify, document, present, and report issues.
- Understanding of Japanese culture and foreign banks in general is preferred.
- Expert knowledge of banking products and services.
- Strong relationship-building skills to manage internal management relationships.
- Strong reasoning ability; understand complex situations, people and systems needs against backdrop of an ever-changing regulatory environment.
- Maintains high level of confidentiality, unquestionable character, integrity and professionalism.
- Strong report writing and oral communication skills
REQUIREMENTS
Work Experience:
- 10 + years of specialized experience in Financial Services
- Minimum 7-10 years of BSA/AML/Sanctions compliance experience (e.g., compliance, internal audit, AML Risk and Control, AML Governance and Oversight, bank regulator).
10+ years of management experience preferred.
Education:
- BA / BS in a relevant discipline (e.g., Accounting, Finance, Banking, Statistics, Mathematics, or other related field), or equivalent experience.
- Preferred: MA / MS / MBA
Licenses / Certifications / Registrations:
- CAMS (Certified Anti-Money Laundering Specialist) certified or other equivalent industry certification is strongly preferred (including but not limited to CFE-Certified Fraud Examiner, CPA-Certified Public Accountant, and Certified Regulatory Compliance Manager-CRCM).
Software Systems / Programming Languages:
- Experience with Microsoft Office Suite, SharePoint
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