The Bancorp Bank

  • VP Quality Assurance Manager - AML (Anti-Money Laundering)

    Job Location US-DE-Wilmington
    Type
    Regular Full-Time
  • Overview

    Oversee the Quality Assurance (“QA”) processes performed at varied frequencies. Manage quality assurance control tasks to ensure suspicious transactions are appropriately identified and documented and Suspicious Activity Reports (SARs) are correctly filed in accordance with regulatory requirements and agency guidelines.

    Responsibilities

    1. Supervise QA Analyst team with coverage of select monitoring and due diligence QA reviews. Develop and execute a workforce plan to meet business goals. Interview, hire, set high performance standards and manage team performance in accordance with all applicable HR policies and procedures. Create an energized work environment, fostering an atmosphere that enables employee trust and engagement. Inspire confidence and motivate others to perform at their best. Assess staff knowledge of applicable procedures and analytical skills and develop and coach staff while effectively addressing performance issues.
    2. Oversee the monitoring and due diligence QA reviews of:
      • Surveillance items flagged as potentially suspicious transactions, items flagged as potential adverse media or PEP matches and items flagged as potential matches to designated sanctions targets and prohibited persons lists.
      • Due diligence items including QA of customer onboarding and select period reviews such as enhanced due diligence
    3. Analyze and review alert closure codes/comments by analyst and due diligence findings, conclusions and corrective action to ensure quality review standards are met.
    4. Formally track and report QA results to coverage areas and other stakeholders and work to standardize QA process (e.g. sampling) for all covered areas.
    5. Identify and coordinate training needs, policy /procedure revisions, standardize alert/due diligence process and other needs identified during the QA process with managers and the policies, procedures, and training of managers.
    6. Train staff and/or managers working with the training specialist and acting as a subject matter expert on processes and procedures as needed. Identify training gaps, new technology and process changes to ensure staff receives appropriate training.
    7. Perform QA for “below the line” testing of transaction monitoring system scenarios, alert scoping engine, other model output as applicable as well as for other non-BAU alerts.
    8. Review and investigate potential issues resulting from Inputs and Outputs Monitoring plans.
    9. Build and maintain the compliance monitoring inventory (e.g., enter new activities, changes in staffing, etc.)
    10. Support the FCRM working and committee meetings, participating in various management meeting.
    11. Support future phases of efforts related to tiered monitoring such as auto-closure, segmentation, profiling.
    12. Draft and update QA procedures and global guidance as needed.
    13. Develop close working relationships with others in the department to address and resolve issues and concerns in a timely manner.
    14. Maintain awareness of current industry rules, regulations and best practices implement appropriate enhancements.
    15. Lead other special projects, driving and managing projects impacting other FCRM areas as assigned.

    Qualifications

    Education/Experience:

    • An undergraduate degree in business, finance or a related field
    • A minimum of 5+ years related experience in an AML (Anti-Money Laundering) group at a large financial institution
    • A minimum of 3 years progressive management experience with demonstrated ability to lead a team of AML professionals
    • Investigative experience in resolving surveillance items flagged as potentially suspicious transactions and items identified as potential matches to adverse media alerts, designated sanctions targets and prohibited persons lists with special emphasis on AML, BSA and fraud prevention
    • CAMS, CFE, CBAP, CRCM or other certifications preferred

    Other Qualifications:

    • Strong working knowledge of anti-money laundering (AML), Bank Secrecy Act (BSA) and OFAC regulations
    • Strong working knowledge of Actimize
    • Ability to manage multiple priorities and tasks with the skills to adapt to changes in a fast-paced environment
    • Ability to critically review closure rationale to determine if the resolution was appropriate and appropriately documented
    • Ability to identify solutions for recurring issued identified during the QA process
    • Excellent verbal, written, and interpersonal communication skills with the ability to work effectively with colleagues across regions and business units
    • Excellent time management skills and ability to execute tasks within tight deadlines
    • Excellent investigative and analytical skills with the ability to uncover root causes, identify patterns, and analyze key risk trends
    • A self-motivated team player able to work effectively in a team fostered, multi-tasking environment
    • Proficient in Microsoft Office suite, e.g. Excel, PowerPoint, Word, Outlook

    Employment with The Bancorp includes successfully passing a background check including credit, criminal, OFAC, education and past employment.   

     

    #LI-DNI

     

    The Bancorp is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, among other things, or status as a qualified individual with disability.

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