The Bancorp Bank

  • VP KYC and Sanctions Manager

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

    Oversee the KYC and Sanctions team which is responsible for Know Your Customer (KYC) and OFAC Sanctions screening, high risk country transaction analysis, assessment of customers vis a vis watchlists (including politically exposed person lists and negative news), and supporting business BSA/AML and sanctions screening activities.

     

    Responsibilities

    1. Play a major role in the development, administration, and implementation of the bank’s Sanctions compliance program.
    2. Oversee Know Your Customer (KYC) quality control. Guide on-boarding operations to ensure compliance with CIP requirements. Ensure customers vetting data and document processing comply with regulations guidelines, standards and internal policies for all new accounts.
    3. Maintain an in-depth knowledge and awareness of customer onboarding procedures and KYC processes as well as regulatory changes affecting the KYC and Sanctions areas; ensure appropriate communication and development of appropriate policy/procedure changes to remain compliant.
    4. Oversee the use of software filter technologies for OFAC, PEP, and negative news.
    5. Manage a team of analysts across multiple sites. 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.  Develop and coach staff while effectively addressing performance issues.
    6. Develop close working partnerships with business lines, compliance, risk, and legal regarding questions or issues with account documentation to ensure the timely opening of accounts.
    7. Analyze high risk counterparties, reputational risks and politically exposed persons (“PEP”) and prepare reports and recommendations as needed.
    8. Escalate issues discovered during ongoing review and assessment of AML/OFAC compliance risk that require escalation to Senior Management for direction on resolution.
    9. Liaise with OFAC on escalated transactions, as needed, and facilitates the filing of required reports.
    10. Cooperatively work with line of business management to promote AML/OFAC compliance and is involved in the development and enhancement of products to ensure compliance with applicable laws and regulations.
    11. Manage KYC/Sanctions related metrics reporting including volume and analysts’ performance.
    12. Lead other related initiatives 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
    • KYC and/or sanctions experience in resolving items identified as potential matches to adverse media alerts, designated sanctions targets and prohibited persons lists.
    • CAMS, CFE, CBAP, CRCM or other certifications preferred

    Qualifications:

    • Strong working knowledge of KYC, Sanctions 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 documentation for new accounts
    • Ability to identify solutions for recurring issued identified
    • 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.   

     

    "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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