My client is one of the four biggest state-owned commercial banks, who engages in the provision of banking and related financial services such as commercial and investment banking, and insurance and investment services. The company operates its business through the following segments: Corporate Banking, Personal Banking, Treasury Operations, Investment Banking, Insurance, and Others. The Corporate Banking segment offers services to corporate customers, government authorities, and financial institutions such as current accounts, deposits, overdrafts, loans, custody, trade related products and other credit facilities, foreign currency, and derivative products. The Personal Banking segment provides services to retail customers such as current accounts, savings, deposits, investment savings products, credit and debit cards, consumer loans, and mortgages. The Treasury Operations segment deals in foreign exchange transactions, customer-based interest rate and foreign exchange derivative transactions, money market transactions, proprietary trading, and asset and liability management. The Investment Banking segment includes debt and equity underwriting and financial advisory, sales and trading of securities, stock brokerage, investment research and asset management services, and private equity investment services. The Insurance segment specializes in the underwriting of general and life insurance business and insurance agency services.
Key responsibilities for the VP- KYC Team Lead include:
Supervise the KYC Team; set departmental priorities and allocate resources to meet deadlines of various KYC related job tasks;
Review and approve Compliance Section Supplementary Notes, Monthly TTMS Report, CSSN Report, CRR Report, Due Diligence Screening, Risk Rating Worksheet, New Customer On-boarding, Customer Profiles Refresh, and etc.;
Review customer profiles for completeness and accuracy in order to assess and document the risks associated with customers;
Ensure that all customers' KYC profiles are kept up to date in line with the Bank's policies and procedures;
Serve as central point of contact between NYB and LAB regarding KYC issues; and make recommendations to KYC related policies and procedures;
Work closely with the Branch BSA Officer, the management of LAB and NYB to review and develop all aspects of KYC program, process, technology and governance;
Identify suspicious and/or fraudulent customers' activities; perform investigation on the detected suspicious activities and prepare reports and findings to the Branch's BSA Officer;
Research, develop and standardize KYC methodologies, protocols and operating processes of LAB;
Timely respond to inquiries from junior staff, Account Officers and the management of LAB regarding KYC/CIP and due diligence matters;
Provide professional and technical guidance and training to junior staff on relevant laws and regulations, Bank's policies and procedures updates;
Establish and deliver clear team targets and goals; track performance against the goals;
Prepare for periodic internal BSA/AML/KYC audits or regulatory examinations; Cooperate with internal and external auditors and examiners; take corrective actions in response to the audit findings;
Stay abreast of the BSA//AML/KYC regulatory requirements and updates; perform researches on existing and new regulations, regulatory guidance and industry developments to maintain up-to-day KYC policies and procedures;
Perform any other duties as assigned by the management of the Branch.
Ther successful VP- KYC Team Lead candidate should have:
15+ years of working experience, with at least 10 years in a managerial KYC role, overseeing KYC processes in institutions with commercial banking products.
A strong understanding of BSA/ AML/ OFAC/ CTR processes and activities common to a large bank
Comprehensive knowledge of U.S. banking regulations and compliance practices with strong emphasis on all aspects of BSA/AML/ OFAC, correspondent banking and trade finance.
Subject matter expert who have the vision about BSA/AML programs, and can roll up their sleeves, pitch in and execute
Experience in large banks or US branches of foreign banks
Experience in organizations where regulation scrutiny is high
Familiarity with Heightened Standards, or other regulatory requirements
Can work with business units to design and implement the processes
Leadership skills, decision-making capability, communication skills, and ability to negotiate effectively using diplomacy and tact to resolve difficult issues while maintaining a high degree of professionalism.
Bachelor's degree or above
Competitive Base Salary + Benefits
Internal Number: 4950788
About Michael Page International - US
eFinancialCareers is a career site specializing in financial services.