The Director of Financial Investigation Unit is responsible for the oversight and administration of the institution's program of compliance with the Bank Secrecy Act, regulations issued by the Office of Foreign Assets Control (OFAC); the Fraud identification, measurement, monitoring, and control program, case development and monitoring and all other related Anti-Money Laundering (AML) laws and regulations. This position is responsible for leading the firm's BSA, Fraud, and AML team. This position shall assess and explain BSA/AML and Enterprise Fraud risks to Board Members, executives, and Business Line Managers and recommend how to proceed based on the firm's risk tolerance for BSA/AML and Enterprise Fraud risk. This position serves as the company's BSA Officer.
Directs the design and implementation of Financial Intelligence program commensurate with Bank's size, business model and needs, risk tolerance, and complexity within the parameters and framework of applicable laws and regulations.
Oversees related risk assessments to comply with regulations and within bank policy. Risk assessments include BSA/AML, OFAC, and ID Theft Red Flags.
Represents BSA, AML, and Fraud in various cross functional committees such as New Product, Change Control Board, and Compliance Committee.
Responsible for annual budget development, documentation, reporting, and costs within budget parameters.
Directs team to utilize technology and process improvement to create an environment of continuous improvement to reach its most productive state.
Oversees responses to inquiries of regulatory agencies, the bank's internal audit department, and outside auditors/consultants.
Oversees training programs to educate bank personnel about Bank Secrecy Act, Anti-Money Laundering, and Enterprise Fraud related compliance requirements and procedures.
Supervises and coordinates all department and subsidiary BSA/AML and Fraud managers.
Works with business lines to ensure prompt corrective action for any issues impacting the program.
Represents the BSA compliance program through periodic reports to executive leadership, Board and management committees, and other business unit leaders for the holding company and its subsidiaries, including communication of significant concerns, changes in enterprise-wide risk levels, emerging trends, and regulatory guidance.
This position reports to the Chief Risk Officer
Internal – Extensive contact with the firm's 1st line managers including, Retail Operations, Deposit Services, Loan Services and IT related personnel.
External – Occasional contact with regulatory agencies regarding policies and procedures, banking regulations and related issues.
Supervision of Others – Yes
Education & Experience
10 years or more of banking experience.
7 years of experience in a BSA/AML leadership role. Prefer experience in mid-size or large bank in an FIU operating model.
Bachelor's degree in Business, Criminal Justice or related field.
Certification such as CRCM, CAMS, or CFE preferred