Overview
SMBC’s Compliance Department Americas Division (“CPAD”) is seeking a Vice President of BSA/AML Compliance Monitoring and Testing. The Vice President will principally lead a team within the AML M&T group. This role will have coverage for SMBC’s U.S. operations.
The Vice President will have oversight of a small team of compliance professionals to support monitoring and testing engagements to validate the efficacy of regulatory compliance internal controls. The candidate should have functional 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. Additionally, a familiarity of the U.S. regulatory environment, risk identification / mitigation; and managing the workflows for monitoring and testing engagements is essential.
The anticipated salary range for this role is between $128,000 and $178,000. 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
- Manage Monitoring and Testing activities.
- Lead a team of associates/ testers to ensure the accurate and timely execution of all monitoring and testing deliverables.
- Serve as the examiner-in-charge responsible for all facets of compliance monitoring and testing engagements.
- Assist in the development and refinement of monitoring and testing scripts.
- Prepare information requests and announcement memoranda.
- Perform assigned field work to validate the efficacy of internal controls and direct oversight of assigned staff and their assignments.
- Ensure that cohesive work papers are prepared for each engagement in accordance with department standards.
- Identify underlying issues and escalates / validates them with stakeholders.
- Draft issue memoranda and reports for issuance to management.
- Assist in the registration and tracking of identified issues and corrective action plans to validate remediation efforts.
- Stay abreast of changing regulatory requirements and SMBC’s business model to maintain a solid foundation of the applicable regulatory framework.
- Assist in the consolidation and reporting of results within local and Head Office reporting.
Qualifications
- Bachelor’s Degree required; Advanced Degree and/or Certifications, is preferred.
- At least 7 years of prior regulatory, compliance testing, audit and/or risk management experience with demonstrated track record of increasing management responsibilities.
- Financial services experience and knowledge of wholesale banking products as well as commercial leasing business, preferred.
- Strong foundational knowledge of U.S. banking laws and regulations with emphasis on BSA/AML and sanctions laws regulations.
- Excellent written, verbal, and presentation skills; adept at presenting complex issues to senior management.
- Strong desire to continually deliver a quality and meaningful work product in a timely and efficient manner.
- Demonstrates sound judgement, political astuteness, and sensitivity to cultural diversity.
- Strong interpersonal and communications skills to successfully interface with all levels of management and maintain solid working relationships.
- Maintaining a regulatory compliance risk mindset to understand underlying risks and weaknesses to properly mitigate such risks.
- Technical competency of applicable laws and regulations and application thereof during monitoring and testing engagements.
- Strong analytical skills and attention to detail.
- Ability to manage multiple assignments and reprioritize as circumstances may dictate.
- Proven management skills and advocating staff development.