SVB: Enhanced Due Diligence Analyst- KYC High Risk Sectors

First Citizens Bank • Phoenix, AZ

4d • Hybrid

About The Position

SVB's First Line of Defense Enhanced Due Diligence Know Your Customer (“EDD KYC”) team is responsible for conducting enhanced due diligence on higher risk client segments that may pose a higher risk for money laundering, terrorist financing, sanctions, or reputational risk in support of all legal and regulatory requirements as a large financial institution. You will be tasked with conducting enhanced due diligence reviews of prospective and existing organizations operating across international jurisdictions, ensuring that they are compliant with FCBs enhanced due diligence requirements. You will be the identified expert on relevant BSA/AML and Reputational Risk compliance for the FCB Commercial Bank by the relationship team and clients. You will interact with peers and risk professionals, all levels of management, and other internal or external constituents to ensure your team delivers comprehensive views on KYC and Reputational Risk matters.

Requirements

• Bachelor's degree with a minimum of 2 years of experience in KYC Compliance or risk management in Banking OR high school diploma or GED with a minimum of 6 years of experience.
• Demonstrate knowledge of international and regional financial crimes risks, to include, but not limited to, Anti-Money Laundering, Counter Terrorism Financing, and fraud, as well as knowledge related to the processes and controls used to prevent or mitigate those risks.
• Demonstrate a strong understanding of Anti-Money Laundering risk related to higher risk business models such as not-for-profit organizations, cash-intensive businesses, and international business corporations.
• Ability to identify and mitigate BSA/AML and Reputational Risk.
• Understanding of the compliance and regulatory frameworks that apply to financial institutions, with an emphasis on FinCEN regulations, FFIEC guidelines, the Bank Secrecy Act, and the US PATRIOT ACT.
• Understanding of evolving regulatory guidance and applicability to making risk-based decisions across multiple risk verticals.
• Ability to assess unique business model risks and appropriate compensating controls.
• Ability to work collaboratively with peers and leaders to attain common goals.
• Ability to communicate effectively both in writing and orally, in person and by telephone, with all levels of the organization and bank clients.
• Ability to work independently and take initiative.
• Good analytical, research, organizational, and project management skills.
• Flexibility in learning new topics, handling change, and meeting deadlines to address newly identified risks or process changes.
• Strong understanding of requisite Microsoft Office applications and ability to learn new internal systems quickly.

Nice To Haves

• KYC First Line, Compliance, or Risk experience at a Large Financial Institution, a portion of which in a client-facing role.
• License/Certification: Association of Certified Anti-Money Laundering Specialist (ACAMS) or Certified Fraud Examiner (CFE)

Responsibilities

• Conduct EDD reviews on new and existing clients engaged in higher risk business models, including not-for-profit organizations, cash-intensive businesses, and international business corporations, ensuring compliance with regulatory requirements and internal policies.
• Perform in-depth analysis of client profiles, business activities, and ownership structures to assess money laundering, terrorist financing, and other financial crime risks.
• Review client documentation, such as business licenses, financial statements, and transaction records, to ensure accuracy and completeness of KYC information.
• Assist clients and prospects in establishing the proper control environment to ensure compliance with the Bank's requirements.
• Serve as a subject matter expert and ensure compliance with regulatory requirements, industry standards, and best practices related to EDD, KYC, BSA, Sanctions, and AML regulations.
• Document and maintain accurate records of due diligence reviews, including findings, decisions, and supporting documentation, in accordance with internal policies and regulatory standards.
• Partner with Compliance, Internal Audit, and other departments to respond to examinations and audit requests.
• Assist in the development, execution, and implementation of program enhancements to ensure all processes and changes implemented fully comply with applicable regulations and legislation, standards, policies, and guidelines.
• Assist in managing existing and emerging risks identified through reviews, ensuring those risks are effectively assessed, communicated, and controlled.
• Conduct assessments and profiling of clients based on their risk factors, including business type, transaction volume, and geographical location.
• Analyze client transactions and account activity to identify red flags indicative of potential financial crimes or higher risk activities.
• Identify and communicate opportunities to automate/streamline quality and compliance efforts.
• Collaborate with internal FLOD EDD and cross-functional teams to share insights and provide support, training, and guidance on policies, procedures, and best practices, promoting a culture of compliance.
• Communicate effectively with internal stakeholders, relationship managers, and business units to address queries and resolve issues related to EDD.

Benefits

• Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 5,001-10,000 employees