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  • Wilmington, DE

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VP of Investigations & Reporting Manager

ExecuNet • Wilmington, DE

Posted 2 months ago

Job Snapshot

Other Great Industries

Job Description

A closer look at this position:

Oversee the investigations and reporting functions. Collaborate with FCRM partners, risk, enterprise compliance, and legal to provide day to day operational management.

As a VP Investigations & Reporting Manager, you will:

  • Oversee the investigations and associated reporting functions as they apply to the AML/KYC program. Oversee team production and quality of investigations. Establish functional performance standards and monitor and track employee production and quality.
  • Manage a team of analysts. Develop and execute a workforce plan to meet business goals. Interview, hire, set high performance standards and manage team performance in accordance with all applicable HR policies and procedures. Create an energized work environment, fostering an atmosphere that enables employee trust and engagement.  Inspire confidence and motivate others to perform at their best.  Develop and coach staff while effectively addressing performance issues.
  • Maintain oversight of AML policies and procedures for the unit to ensure appropriate AML governance and controls on processes and related unit activities. Ensure team is proactively implementing standards, processes, methodologies and internal controls to support organizational objectives and mitigate risk. Document, update, maintain and communicate changes as required by government and regulatory agencies.  Facilitate the implementation of AML policy, program, and procedures by communicating findings and necessary changes to affected business unit leaders and teams, coordinating implementation activities and connecting process activities to the AML strategy and AML investigative findings.
  • Determine and pursue the best investigative approach for each unique case, ensuring that key questions are addressed, and that compliance AML department policies and regulatory expectations are satisfied.
  • Support quality assurance of investigative documentation by reviewing and assessing SAR and No SAR decisions through a sampling methodology and managing the work queue. Review investigations and suspicious activity reports (SARs) as necessary before filing and coordinate with the internal AML Risk governance committee to keep them informed of issues and activities.
  • Manage escalated issues and communicate findings, status, open issues and other AML-related items to management regularly. Escalate and coordinate cases with law enforcement as applicable. Effectively obtain information and assistance from appropriate law enforcement agencies, peer banks, and other external groups on AML issues and cases. Brainstorm solutions with the teams, team leaders, and approve actions providing guidance and leadership as needed. 
  • Compile, analyze and report key performance and key risk indicators related to the investigative processes. Analyze historical trends and patterns and prepare recommendations to highlight and mitigate issues.
  • Lead and manage ongoing process excellence and quality initiatives to continually raise the function and standards to meet evolving regulatory, audit, risk and compliance rules and regulations. Evaluate effectiveness of existing AML procedures and processes and identify areas for enhancement. Develop and implement new and/or changes to processes, procedures, and associated reporting.
  • Monitor operations and systems to identify improvements and remedial measures. Provide feedback, input and suggestions on AML and KYC issues acting as a subject matter expert on the operations and processes to streamline and improve function effectiveness. Research and investigate new systems and database applications and providers for applicability to the AML/Sanctions-related transactions. Evaluate the impact of current and proposed products, systems, and policies and procedures and recommend changes or updates as needed to manage volume while ensuring efficiency and compliance with all governing rules and regulations. Systems are used to review, edit and file reportable cash transaction activity and identify/detect suspicious activity.
  • Provide subject matter expertise and regulatory guidance bank-wide. Assist and advise all business lines in order to ensure accurate filings of currency transaction reports, monetary instrument filings, suspicious activity reports and compliance.
  • Participate on major projects/initiatives involving BSA/AML and USA PATRIOT Act. Develop solutions to uphold regulatory requirements.
  • Manage and track quality assurance to ensure accuracy and compliance with regulations and the bank’s policies and procedures. Analyze data and creates monthly, quarterly, annual, and ad hoc reports for management and the Board of Directors. 
  • Develop close working partnerships with each business line to identify the BSA/AML regulations with which they must comply and facilitate appropriate and complete compliance. Regularly interface with senior leadership.  Lead routine and ad hoc meetings to market, communicate, and discuss new, improved, or changing regulations, forms, processes, and associated supporting systems and technology.
  • Lead other related initiatives as assigned.

You've got what it takes, if your credentials include:

  • An undergraduate degree in a related field 
  • A minimum of 10 years BSA/AML investigation experience in the banking industry
  • A minimum of 2 – 5 years leadership experience, preferably in an operational risk management or a back-office compliance capacity
  • Certified Anti-Money Laundering Specialist (CAMS) or Certified Fraud Examiner (CFE) designation
  • Comprehensive BSA/AML knowledge with an In-depth understanding of commercial and pre-paid banking industry
  • Substantial knowledge of BSA/AML regulations including the FFIEC Examination Manual
  • Understanding of AML/Fraud related red flags and scenarios in a manual or automated environment
  • Strong leadership, partnering and coaching skills with demonstrated ability to manage a team with multiple and/or shifting priorities and produce professional and accurate work product sometimes under time constraints.
  • Excellent verbal, written, and interpersonal communication skills
  • Strong organization, analytical and project management skills
  • A team player able to work effectively in a team fostered, multi-tasking environment
  • Proficient in Microsoft Office suite, e.g. Excel, PowerPoint, Word, Outlook
Job ID: 574323
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