Manager Business Enhanced Due Diligence

First Citizens Bank • Dallas, TX

118d • Hybrid

About The Position

This is a hybrid role that may only be hired in the following locations: Texas, Arizona, or North Carolina. 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 reputation risk in support of all legal and regulatory requirements as a large financial institution. You will be tasked with leading a team that conducts 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. It will be critical for you to stay current with developments on international business and corporation business practices, and reputational risk policy changes in order to seek ways to enhance current processes and controls, and communicate with your peers and partners.

Requirements

• Bachelor's Degree with a minimum of 4 years of experience in a Risk Management Leadership role specializing in high risk sectors within Fintech, banking, KYC Compliance OR High School Diploma or GED with a minimum of 10 years of experience.
• Demonstrate knowledge of international and regional financial crimes risks, to include but not limited to Anti-Money Laundering, Counter Terrorism Financing risks, fraud, and the prevention and mitigation processes and controls.
• Demonstrate strong understanding of Anti-Money Laundering risk related to higher risk business models such as not-for-profits, cash intensive, international business corporations, etc.
• Demonstrate ability to lead multiple analysts responsible for client engagement and appropriately identify areas of opportunity to enhance first line engagement.
• Demonstrate ability to mentor and develop analysts and associates on identifying and mitigating 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, Bank Secrecy Act and 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 with bank clients.
• Ability to work independently, take initiative and have strong verbal and written communication skills.
• Good analytical, research, organizational, and project management skills.
• Flexibility in learning new topics, handling change and 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

• Preferred Area of Experience: KYC First Line, Compliance or Risk at a Large Financial Institution.
• License/Certification: Association of Certified Anti-Money Laundering Specialist (ACAMS), or Certified Fraud Examiner.

Responsibilities

• Manage a team's pipeline of EDD reviews on new and existing clients engaged in higher risk business models, ensuring compliance with regulatory requirements and internal policies.
• Coordinate cross-functional teams in-depth analysis of client profiles, business activities and ownership structures to assess money laundering, terrorist financing and other financial crime risks.
• Provide oversight of escalated client reviews on client documentation 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 subject matter expert and ensure compliance with regulatory requirements, industry standards and best practices related to EDD, KYC, BSA, Sanctions and AML regulations surrounding the international activity.
• 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 development and execution of implementation of program enhancements to ensure all processes and changes implemented fully comply with applicable regulations and legislation, standards, policies, and guidelines.
• Lead and champion efforts on identifying and managing existing and emerging risks identified through reviews, and ensuring these 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, 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.
• Provide expertise in assessing prelaunch or emerging business models to align with internal requirements for EDD and approval.

What This Job Offers

• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree