Job title: Business Enhanced Due Diligence Specialist II (Hybrid)
Company: Silicon Valley Bank
Job description: Job Description:OverviewThis is a hybrid role, with the expectation that time working will regularly take place inside and outside of a company office.SVB’s First Line of Defense BSA/AML team is responsible for identifying, investigating, and monitoring relationships that pose a money laundering or terrorist financing risk in support of all legal and regulatory requirements relating to anti-money laundering (AML) and counter-terrorism financing.As an Enhanced Due Diligence Analyst, you will be a part of SVB’s First Line of Defense BSA/AML Team tasked with ensuring that activity within FCB is compliant with FCBs Risk Appetite, and any/all applicable regulations and guidelines. You will be the identified expert on BSA/AML 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 deliver comprehensive views on investigative and intelligence matters and represent the reasoning of case disposition on behalf of your team. It will be critical for you to stay current with anti-financial crime developments, and policy changes, seek ways to enhance current processes and controls, and communicate with your peers and partners.
Responsibilities
- Provide expertise in assessing prelaunch or emerging business models to align with internal requirements for enhanced due diligence and approval; to include providing training, advice, and guidance to the Commercial Bank teams; recommending updates based on based on industry best practices and regulatory/compliance standards.
- Serves as a subject matter expert on high-risk reviews as primary Point of Contact for Commercial Bank Relationship and aid in identification of prospects & existing clients that may have increased AML risk due to business model; working directly with clients/prospects to ensure compliance with FCB’s high-risk requirements; championing efforts identifying and managing existing and emerging risks identified through reviews, and ensuring these risks are effectively assessed, communicated, and controlled.
- Engage with peers and financial crimes risk professionals, all levels of management, and other internal or external constituents to deliver comprehensive views on investigative and intelligence matters and represent reasoning of case disposition.
- Identifies and communicates opportunities to automate/streamline quality and compliance efforts.
Core Competencies
- Demonstrate strong understanding of Anti-Money Laundering risk related to Gaming/Gambling, Cannabis and/or Defense business models.
- Demonstrate knowledge of international and regional financial crimes risks, to include but not limited to Anti-Money Laundering and Counter Terrorism Financing risks, and the prevention and mitigation processes and controls.
- 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.
- Ability to assess compliance programs, processes, controls.
- Ability to work independently with minimal direction and to meet deadlines.
- 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.
Position Specific Skills
- Ability to work independently, take initiative and have strong verbal and written communication skills.
- Good time management and attention to detail are critical to this position.
- Good analytical, research, organizational, and project management skills.
- Strong individual contributor with the ability to work effectively as a team.
- Flexibility in learning new topics, handling change and deadlines to address newly identified risks or process changes.
QualificationsBachelor’s Degree with a minimum of 1 year of experience in Fintech, banking, KYC Compliance, risk management, or audit OR High School Diploma or GED with a minimum of 5 years of Fintech, banking, KYC Compliance, risk management, or audit experience.
- Preferred Area of Experience: KYC Compliance at a Large Financial Institution
- Preferred Area of Study: BA, Finance, Legal, or Criminal Justice
- Preferred Education Level: Bachelor’s degree
- Preferred License/Certification: Association of Certified Anti-Money Laundering Specialist (ACAMS)
Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.First Citizens benefits programs are designed to meet our associates where they are in life. Full-time associates (20+ hours) are offered a comprehensive benefits program, with customized offerings, including those designed to support families, however defined. More information regarding our benefits offerings can be found here
Expected salary:
Location: Phoenix, AZ
Job date: Sat, 08 Feb 2025 00:09:22 GMT
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