Job Description

Job Description

Job Description

This is an on-site position

Summary: This position is responsible for the preliminary monitoring of the Bank Secrecy Act (BSA) and the Anti-Money Laundering (AML) compliance program designed to ensure that the Bank achieves optimum compliance with applicable laws and regulations including, but not limited to, the Bank Secrecy Act (BSA), USA PATRIOT Act, and Office of Foreign Assets Control (OFAC). This position provides an assessment of suspicious activity as it relates to BSA and AML in the areas of High-Risk Accounts, New Account documentation, Customer Information Process (CIP), and Enhanced Due Diligence (EDD)

Duties and Responsibilities:

• Understands and complies with the requirements of all laws and regulations applicable to the position.
• Investigate and resolve strategic money laundering / terrorist financing (ML / TF) risks, including typology, geography, product, client/entity type, and other ML / TF plus Fraud risk categories.
• Responsible for Case Investigations and Enhanced Due Diligence (“EDD”) reviews for higher-risk clients
• Monitors alert transactions through the Banks’ transaction monitoring software as it relates to BSA and AML to identify unusual or suspicious account activity and/or financial crime patterns.
• Conduct analysis of transactional data and alert monitoring to make determinations of irregular activity through an understanding of historical client activity and regulatory definitions of suspicious activity.
• Responsible for Case narratives and initial Suspicious Activity Report (SAR) recommendations and write-ups.
• Responsible for filing Currency Transaction Reports (CTR).
• Assist with editing and updating BSA Office internal departmental procedures.
• Review, analyze, and assist in making risk rating decisions or changes on client accounts and relationships
• Research BSA regulatory issues and respond to compliance questions from Bank personnel, utilizing legal and regulatory reference materials and consulting with the BSA Office Management.
• Participates and prepares with the guidance of the BSA Manager for regulatory BSA examinations and audits.
• Assist with guidance and support the Bank’s EB-5 Business Group in ensuring that all Non-US client relationships have undergone identification, due diligence, and screening required under Section 326 of the U.S Patriot Act to ensure that regulatory requirements and internal policies/procedures are being adhered to
• Assume roles and responsibilities in relation to all international product sets and foreign exposure risk to the Bank, including but not limited to, EB-5 Foreign Investors, Non-Resident Alien (NRA) Clients, International Wire activities, and Foreign Business Entity (FBE) Exposure.
• Interacts with high-risk clients on BSA-related matters and is able to appropriately express the views of the BSA department during the interaction.
• Conduct high-risk client site visits when applicable.

Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Salary Range: The salary range budgeted for this position represents the Company's good faith minimum and maximum range for this role at the time of posting. The compensation offered to a candidate may vary depending on several factors, including a candidate's qualifications, skills, competencies, experience, and location.

Geographic Location:

• Irvine, CA: $68,600 – $83,000 (Annually)

Applicants must have current work authorization when accepting a First Foundation Inc. position. Currently, we cannot sponsor or take over the sponsorship of an Employment Visa.

• Bachelor’s degree required; or equivalent combination of education and experience
• Minimum of 5 years of prior financial institution BSA Compliance experience
• Holds the Association of Certified Anti-Money Laundering Specialist (ACAMS) certification or is willing to obtain it within a required period as stated by the BSA Office.
• Must have a strong understanding of the BSA / AML investigative process
• Must have strong knowledge of banking systems, financial crimes, and BSA / AML typologies
• Must be familiar with high-risk products such as MSB, CIB, PCAs, and MRBs.
• Must be familiar with BSA regulatory changes regarding high-risk industries.

Skills:

• Ability to dissect and analyze large amounts of unstructured information to find and resolve high-risk ML / TF activity
• Ability to read financial statements and have basic accounting knowledge.
• Ability to read and understand basic legal concepts such as federal and state regulatory guidelines and statutes.
• Exercise sound judgment, observe the highest degree of confidentiality in the handling of information received in the course of discharging responsibilities and high-quality standards when conducting investigations
• PC proficient (MS Office) and extensive knowledge of performing internet searches
• Ability to communicate effectively, both verbally and in writing
• Ability to comprehend and follow written and verbal instructions with limited supervision
• Ability to multi-task and prioritize daily work responsibilities
• Ability to troubleshoot and resolve issues in a timely manner
• Strong report writing skills.
• Strong teamwork skills, proven investigatory skills, and the ability to present intelligence updates to management levels in the organization

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

While performing the duties of this job, the employee is regularly required to sit for long periods of time; use hands to operate controls on a computer; reach with hands and arms for phone and computer work; to communicate on the phone while wearing a headset for extended periods. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, and the ability to adjust focus. This job description is subject to change at any time.

First Foundation is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with a disability, sexual orientation, gender identity, or any other characteristic protected by law.

Job Tags

Similar Jobs