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  • Santa Ana, CA

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VP of AML Onboarding Manager

ExecuNet • Santa Ana, CA

Posted 1 month ago

Job Snapshot

Full-Time
Other Great Industries
Finance

Job Description

ESSENTIAL DUTIES AND RESPONSIBILITIES:

  • Performs personnel actions including performance appraisals, disciplinary actions, and interviewing candidates for employment; supervises the daily activities of the team including, but not limited to, effective delegation of assignments, developing work schedules and providing necessary training.
  • Responsible for the overall direction, motivation, coordination and evaluation of functionalities within the unit.
  • Ensures that first and second line of defense client onboarding processes and controls are sufficiently designed, documented, and evidenced to satisfy risk, audit, and regulatory objectives, including but not limited to depository and lending onboardings.
  • Responsible for ensuring first line client onboarding comply with KYC, CIP, CDD, BSA, USAPA, OFAC, FATCA, and other AML regulations, and reviews and makes recommendations to update applicable bank governance when change is warranted. Ensures Bank’s customer onboarding controls align with bank governance and all applicable regulatory requirements.
  • Serves as the BSA/AML department’s subject matter expert and primary department contact for the BSA Liaison Middle Office function as it pertains to company-wide client onboarding.
  • Ensures customers with higher risk attributes have onboarding documentation including but not limited to site inspections, automated negative news and OFAC screenings, risk attribute workflow forms, legal entity beneficial ownership (LEBOC) forms, as applicable, and all onboarding packets are completed appropriately and accurately.
  • Partners with the VP, AML Quality Control to identify trends, issues, and root causes to first-line onboarding exceptions.  Partners with the first line Executive Management team on remediating the root causes and providing follow-up and/or enhanced training to reduce exception levels in accordance with bank approved tolerance levels.
  • Reviews and approves new account onboarding requests for escalation to the Enhanced Due Diligence team, as needed. 
  • Reviews first line exception requests via Note-to-File from the first line business unit management.  Reviews and escalates to the BSA/AML Officer for review, as appropriate.
  • Manages customer onboarding escalations to the BSA/Reputation Working Group in line with Board-approved risk appetite.  Attends the BSA/Reputation Working Group to present the results of AML’s onboarding review and provides the BSA/AML Officer, Chief Risk Officer, and/or BSA/Reputation Working Group with a recommendation from an AML perspective.
  • Establishes new account onboarding processes and procedures for new products, services, and lines of business, as needed.  Trains the front line business unit on these new processes and procedures.
  • Manages all updates to existing AML onboarding governance for changes in regulation, bank policies, standards, and/or procedures, and/or to address internal audit or quality control findings.
  • Ensures that AML Onboarding post-approval reviews are conducted within the bank’s established Service Level Agreement (SLA) with the first line business units.
  • Serves as the bank’s Subject Matter Expert on the CDD/Beneficial Ownership Rule effective May 11, 2018.  Ensures all Legal Entity Beneficial Ownership Certifications are appropriately completed, when applicable, in line with bank policy and regulatory laws.  Provides continuous Beneficial Ownership training to the front line business units.  Works in conjunction with the AML Quality Control Manager to prioritize trainings based on QC exception rates.
  • Develops, implements oversees, and reports on customer onboarding processes, tools, policies, standards, and procedures ensuring alignment with the Bank’s Enterprise Risk Framework and the Enterprise AML Program.
  • Carries out responsibilities by promoting a risk-aware culture, ensuring efficient and effective risk and compliance management practices, identifying issues, determining root cause and taking corrective action through staff training, process or system enhancements.
  • Ensures that resources and infrastructure are adequate to support the customer onboarding program; conveys the Bank’s needs and objectives, and ensures necessary controls are in place and working as designed.
  • Works with the OCC and internal auditors to provide onboarding documentation, reports, trainings, etc. and provides timely responses to requests for information and questions.
  • Conducts quality control review to ensure staff members follow established policies and procedures and execute deliverables within expected timeframes.
  • Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.

Responsible for the continued development, enhancement, oversight, and reporting on the Bank’s Know Your Customer (KYC), Customer Identification Program (CIP), Customer Due Diligence/Beneficial Ownership Program (CDD), and first and second line of defense customer onboarding processes and controls in support of the Enterprise Anti-Money Laundering (AML) Program.  Ensures that established front line customer onboarding processes and controls adhere to the Bank’s KYC/CIP, CDD, Bank Secrecy Act (BSA), USA PATRIOT Act (USAPA), Title 31 Code Federal Regulations Chapter X, Office of Foreign Assets Control (OFAC) watch list screening, and Foreign Account Tax Compliance Act (FATCA).  

Job ID: 577593
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