City National Bank
BSA and OFAC Officer
City National Bank, Los Angeles, California, United States, 90079
Overview:
BSA AND OFAC OFFICER
WHAT IS THE OPPORTUNITY? The BSA Officer has ultimate responsibility for the design, development, and implementation of the Corporation's Bank Secrecy Act, Anti-Money Laundering, and Office of Foreign Assets Control (BSA/AML/OFAC) compliance programs. The position plays a key role as the internal consultant to management and other colleagues throughout the organization related to BSA, AML, KYC, and OFAC. Responsible for building and maintaining relationships with internal and external customers while providing exemplary customer service. What you will do
Designs, directs and administers the Banks BSA, AML, and OFAC compliance programs, ensuring that there are sufficient internal controls to promote fully effective risk management practices. Prioritizes focus towards areas identified as having the highest levels of risk to the company.Performs analytical reviews studying current and long-range BSA performance of the bank, proposing and implementing solutions to issues or problems that arise, and communicating such matters to the appropriate level of management and the board of directors, if applicable.Monitors the regulatory environment and industry trends related to BSA, AML, KYC, and OFAC.Establishes controls for BSA and related regulations monitoring, due diligence, and reporting functions resident within the Bank.Responsible for providing appropriate management and board level reporting on the status of the BSA/AML/OFAC compliance program.Develops new or updates current policy and procedure related to compliance issues. Consults with business units as to any deficiencies, and monitors to ensure that required changes are made.Responsible for establishing the BSA, AML, KYC, and OFAC training requirements throughout the bank. Partners with business units for development of appropriate training.Establishes the controls for the OFAC review process. Directs the process through communication to partnered line and support units ensuring proper OFAC screening has been conducted and reported.Responsible for managing the Bank wide screening process for Politically Exposed Persons (PEPs) or Senior Foreign Political Figures (SFPFs) ensuring proper screening has been conducted and, as appropriate, proper approvals for maintaining such relationships are obtained.Responsible for managing the Information Search Requests processing through communication to partnered line and support units ensuring proper 314A and 314B searches have been conducted and reported.Responsible for managing client CTR Exemption nominations and bi-annual re-certification process, ensuring that activity analysis supports eligibility status.Responsible for managing the Know Your Client process including risk model scoring changes, process changes and other changes as appropriate. Responsible for maintaining the Know Your Client website.Responsible for managing and coordinating the Banks BSA regulatory examinations.Responsible for coordinating and integrating best practices with RBC Enterprise, including aligning AML/OFAC programs.Directs reporting and tracking utilizing and developing, as necessary, various Microsoft application reports (including but not limited to Microsoft Outlook; Word; Excel; PowerPoint; Access; Project; etc.).Integrates activities with other departments to accomplish common goals.Maintains up-to-date knowledge of bank policies and procedures.Applies good business judgement with technical and general business knowledge to resolve the most complex issues in assigned function.Ensures assigned employees are in compliance with specified CNB compliance guidelines.Performs other duties as assigned or requested.Must-Have*Bachelor's Degree or equivalent experienceMinimum of 10 years experience in Compliance and BSA or related functionMinimum of 5 years of supervisory experienceSkills and KnowledgeAbility to perform functional duties and related positions with minimal supervision.Ability to interact effectively with all levels of Bank personnel and customers; excellent verbal and written communication skills; excellent interpersonal and customer service skills; knowledge of regulatory requirements with specific emphasis on BSA, USA PATRIOT Act, and OFAC; knowledge of bank policies and procedures.PC skills required.Ability to analyze complex situations and provide guidance, and escalate issues to appropriate levels of management.Ability to handle problem situations with colleagues and clients effectively and take appropriate action with Human Resources or others as needed.Compensation
Starting base salary: $195,995 - $364,003 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.*To be considered for this position you must meet at least these basic qualificationsThe preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Benefits and Perks
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENTCity National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.' ABOUT CITY NATIONAL We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North Americas leading diversified financial services companies.
BSA AND OFAC OFFICER
WHAT IS THE OPPORTUNITY? The BSA Officer has ultimate responsibility for the design, development, and implementation of the Corporation's Bank Secrecy Act, Anti-Money Laundering, and Office of Foreign Assets Control (BSA/AML/OFAC) compliance programs. The position plays a key role as the internal consultant to management and other colleagues throughout the organization related to BSA, AML, KYC, and OFAC. Responsible for building and maintaining relationships with internal and external customers while providing exemplary customer service. What you will do
Designs, directs and administers the Banks BSA, AML, and OFAC compliance programs, ensuring that there are sufficient internal controls to promote fully effective risk management practices. Prioritizes focus towards areas identified as having the highest levels of risk to the company.Performs analytical reviews studying current and long-range BSA performance of the bank, proposing and implementing solutions to issues or problems that arise, and communicating such matters to the appropriate level of management and the board of directors, if applicable.Monitors the regulatory environment and industry trends related to BSA, AML, KYC, and OFAC.Establishes controls for BSA and related regulations monitoring, due diligence, and reporting functions resident within the Bank.Responsible for providing appropriate management and board level reporting on the status of the BSA/AML/OFAC compliance program.Develops new or updates current policy and procedure related to compliance issues. Consults with business units as to any deficiencies, and monitors to ensure that required changes are made.Responsible for establishing the BSA, AML, KYC, and OFAC training requirements throughout the bank. Partners with business units for development of appropriate training.Establishes the controls for the OFAC review process. Directs the process through communication to partnered line and support units ensuring proper OFAC screening has been conducted and reported.Responsible for managing the Bank wide screening process for Politically Exposed Persons (PEPs) or Senior Foreign Political Figures (SFPFs) ensuring proper screening has been conducted and, as appropriate, proper approvals for maintaining such relationships are obtained.Responsible for managing the Information Search Requests processing through communication to partnered line and support units ensuring proper 314A and 314B searches have been conducted and reported.Responsible for managing client CTR Exemption nominations and bi-annual re-certification process, ensuring that activity analysis supports eligibility status.Responsible for managing the Know Your Client process including risk model scoring changes, process changes and other changes as appropriate. Responsible for maintaining the Know Your Client website.Responsible for managing and coordinating the Banks BSA regulatory examinations.Responsible for coordinating and integrating best practices with RBC Enterprise, including aligning AML/OFAC programs.Directs reporting and tracking utilizing and developing, as necessary, various Microsoft application reports (including but not limited to Microsoft Outlook; Word; Excel; PowerPoint; Access; Project; etc.).Integrates activities with other departments to accomplish common goals.Maintains up-to-date knowledge of bank policies and procedures.Applies good business judgement with technical and general business knowledge to resolve the most complex issues in assigned function.Ensures assigned employees are in compliance with specified CNB compliance guidelines.Performs other duties as assigned or requested.Must-Have*Bachelor's Degree or equivalent experienceMinimum of 10 years experience in Compliance and BSA or related functionMinimum of 5 years of supervisory experienceSkills and KnowledgeAbility to perform functional duties and related positions with minimal supervision.Ability to interact effectively with all levels of Bank personnel and customers; excellent verbal and written communication skills; excellent interpersonal and customer service skills; knowledge of regulatory requirements with specific emphasis on BSA, USA PATRIOT Act, and OFAC; knowledge of bank policies and procedures.PC skills required.Ability to analyze complex situations and provide guidance, and escalate issues to appropriate levels of management.Ability to handle problem situations with colleagues and clients effectively and take appropriate action with Human Resources or others as needed.Compensation
Starting base salary: $195,995 - $364,003 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.*To be considered for this position you must meet at least these basic qualificationsThe preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Benefits and Perks
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENTCity National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.' ABOUT CITY NATIONAL We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North Americas leading diversified financial services companies.