Overview
Job Summary
Reporting to the Vice President of AML Compliance Program Governance, the Compliance Program Governance Analyst assists the team with the design, implementation, and governance of the Financial Crime Compliance Risk Assessment. Additionally, the Compliance Program Governance Analyst supports the enhancement of the ML/TF risk monitoring, mitigating controls, and change management framework. This role works with stakeholders within the Compliance Department and business partners throughout SMBC to enhance the BSA/AML/Sanctions Compliance Program, and is a liaison between internal audit, banking regulators and Head Office.
The candidate should have knowledge of applicable U.S. banking laws and regulations with specific emphasis on Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) and sanctions laws and regulations. Experience with Risk Assessment change management and execution is a plus. Additionally, a risk management internal control mindset to apply and assess risk identification and mitigation is essential.
The anticipated salary range for this role is between $69,000 and $81,000. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.
Responsibilities
The job responsibilities are described herein:
- Act as a subject matter advisor to enhance existing risk assessment methodologies and processes to ensure compliance with U.S. and international AML and sanctions laws and regulations, regulatory guidance and compliance best practices.
- Assists with the design and implementation of a comprehensive BSA/AML and Sanctions Risk Assessment framework for the SMBC Group Americas Division identifying the inherent risk of applicable laws, regulations, rules and assessing the efficacy of internal controls to derive residual risk profile.
- Assist with the management of the BSA/AML and Sanctions Risk Assessment process and draft reports for BSA/AML Officer and senior management review.
- Assist in the development and expansion of Program Governance’s relationships with first line partners and Head Office.
- Assist to compile data and prepare risk dashboards designed to identify the regulatory compliance risk profile on an ongoing basis.
- Assist with the creation and subsequent management of robust and detailed Microsoft Project plans that may include multiple sub-plans and cross-functional dependencies.
- Monitor AML and Sanctions regulatory environment for potential changes to the AML and Sanctions Programs.
- Assist with the Risk and Control Self-Assessment (“RCSA”) process and draft reports for BSA/AML Compliance Officer and senior management review.
- Assist with coordination of the annual staffing needs assessment processes.
- Assist with the coordination of budget monitoring and reporting for Financial Crimes Compliance Function.
- Stays abreast of the changing regulatory landscape and updating risk appetite statement and Risk Assessment framework as necessary.
- Produce data, closure packages, and required documentation for annual regulatory exams, Compliance Testing, and Audit.
- Other program governance-related activities, as needed.
Qualifications
CRITICAL JOB KNOWLEDGE AND CORE COMPETENCIES/SKILLS
- Demonstrate strong project management or team leadership skills.
- Strong communication and presentation skills.
- Strong analytical skills to identify, document, present, and report issues.
- Experience with Microsoft Excel, Power Point, SharePoint and other applications within the Office suite.
- Knowledge of banking products and services.
- Strong relationship-building skills.
- Knowledge of BSA/AML/OFAC laws, rules and regulations.
- Strong reasoning ability; understand complex situations, people and systems needs against backdrop of an ever-changing regulatory environment.
- Knowledge and understanding of Japanese culture and foreign banks in general is desirable.
- Maintains high level of confidentiality; unquestionable character, integrity, and professionalism.
Requirements
- Work Experience: 2 to 5 years of specialized experience in Financial Services
- Minimum of 2 years of experience in project management and a minimum of 2 years in the financial services industry addressing regulatory issues and optimizing operations.