Legal & Compliance Department - FLU BSA and Compliance Oversight Associate/AVP

Bank of China Limited, New York Branch•New York, NY

101d•$42,000 - $150,000

About The Position

The incumbent supports Front Line Unit (FLU) compliance oversight, regulatory change management, and compliance risk metrics management. The role assists the Lead of FLU BSA and Compliance Oversight with day-to-day oversight responsibilities and regulatory change management. It also supports compliance testing, reporting, and related ad hoc assignments across the Bank.

Requirements

Bachelor’s degree in Finance, Business Administration, Accounting/Actuarial Science, Economics, Law, or a related quantitative discipline.
Associate level: 0–3 years of Legal & Compliance-related experience.
AVP level: 4 or more years of Legal & Compliance-related experience.
Associate level: 0–3 years of experience with BSA/AML/CFT laws and regulations and OFAC/sanctions compliance.
Strong quantitative and qualitative analytical skills, including the ability to develop practical solutions and distill large amounts of information into clear, concise summaries.
Results-oriented and assertive when addressing challenging situations.
Solid interpersonal skills and ability to work across multiple business lines and functions.
Excellent written and verbal communication skills, with concise and clear communication.
Fast learner with attention to detail.
Excellent proficiency in MS Excel, including charts, graphs, VLOOKUP, and pivot tables, as well as PowerPoint and Word.
Ability to adapt, multitask, change direction based on business demands, and prioritize a diverse workload with multiple deadlines.
Proficiency in spoken and written Chinese.

Nice To Haves

CAMS Certificate preferred but not required.

Responsibilities

Manage monthly FLU BSA Officer meeting reporting materials and prepare quarterly FLU Subcommittee meeting materials by collecting data from FLU BSA Officers and summarizing it in presentation format.
Draft, route for review and approval, and distribute minutes for bi-weekly and monthly one-on-one meetings with FLU BSA Officers; review monthly BSA Officer meetings and quarterly FLU AMLCC Subcommittee meetings.
Obtain approvals from Subcommittee voting members in accordance with the subcommittee charter.
Support the Commodity Business Center, including reviewing New/Roll Repo Requests and potential onboardings to ensure compliance risks are identified and addressed.
Maintain the Wolfsberg Questionnaire and coordinate its annual update with relevant stakeholders across departments.
Assist with responding to document requests from Internal Audit, LCD Compliance Monitoring and Testing Group, and other parties.
Assist in preparing a monthly regulatory development newsletter for the Bank.
Prepare regulatory update and enforcement-action presentation materials for monthly BSA Officer and quarterly FLU AMLCC Subcommittee meetings.
Prepare translated summaries of regulatory developments for Bank-wide Staff News and submission to Head Office.
Track regulatory changes and assess their impact on the Bank.
Provide administrative support for regulatory change management, including maintaining the regulatory tracker.
Provide regulatory updates on climate risk for the quarterly ESG report to Head Office and the ESG Committee.
Oversee FLUs' maintenance of the FLU Compliance Control Inventory.
Review FLU compliance control testing plans.
Collect and consolidate monthly FLU metrics to monitor plan execution progress and exception remediation status.
Present relevant metrics at monthly meetings with FLU QCUs, the FLU AMLCC Subcommittee, and the Enterprise Risk Oversight Committee.
Hold monthly meetings with FLU QCUs regarding testing status.
Assist with ad hoc tasks related to FLU Compliance Testing.
Assist with monthly and quarterly Compliance Metrics Heat Map Quality Control.
Assist the Lead of FLU BSA and Compliance Oversight with other ad hoc assignments.