UNIT SUPERVISOR BSA COMPLIANCE St. Thomas

Job description

Unit Supervisor - Compliance
Band: Operational Leader
Reports To: Regional Risk Manager
Job Code: OL127
Department: Compliance/Risk
FLSA Status: Exempt
Division: VI Compliance/Risk Division

Job Summary:

The Compliance Supervisor supports the execution of FirstBank’s transaction monitoring, alerts determination process, Enhanced Due Diligence, CTR and suspicious activity investigations focused primarily on Bank Secrecy Act and Anti-Money Laundering laws and regulations compliance.

Provides support to the BSA Management mainly through direct supervision of the USVI Compliance Analysts’ duties and responsibilities within the BSA Unit, such as alerts reviews, training, and coaching.

Is responsible for ensuring the smooth, sound and efficient operations of the department performing quality control reviews and monitoring in the areas of the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering, OFAC and Customer Identification Programs, ensuring maintenance of Bank Compliance standards.

Essential Duties and Responsibilities:

+ Selects, trains, coaches, and develops Unit’s staff to effectively monitor transactions utilizing specific Bank’s applications implemented to monitor client’s transactions and to identify potential suspicious activity.

+ Provide daily guidance and expertise ensuring compliance with the transaction monitoring procedures established by the BSA Corporate Compliance Unit.

+ Monitors Daily Production and reports weekly and monthly progress to the BSA Corporate Compliance Unit on alerts, high risk customers and other BSA related matters.

+ Ensures BSA Analysts comply with the daily goals and tasks assigned.

+ Performs quality reviews over to the alerts and EDDs completed by the staff under supervision.

+ Reviews and approves referrals for suspicious activity investigations carried out by the staff under supervision (from alerts, CTR and/or EDD).

+ Perform second level review if the suspicious activity investigations related to the region.

+ Provides feedback to the BSA Corporate Compliance Team in matters related to production, quality, capacity, and any other matter with potential impact to the Bank’s BSA/AML and OFAC Programs.

+ Promotes a compliance culture within the Region by creating and delivering effective BSA/AML training to staff at all levels of the organization.

+ Provides departments with BSA compliance changes that affect their units and assist in the development of plans to address changes.

+ Ensures the units reporting requirements for all regulations are met (BSA, OFAC, FinCEN, etc.)

+ Serves as liaison between the Business, Operations and BSA Units in matters related to High-Risk Customers; responds to various requests, investigations, CTR evidence and subpoenas received from external sources.

+ Provides support with BSA/AML and OFAC compliance examinations, and/or compliance audits or reviews drafts responses to internal audit requests and implements action plans to address internal audit recommendations, as required.

+ Participates in various committee meetings in support of the bank’s Bank Secrecy Act.

+ Supports the Regional Risk Manager as required.

+ Performs such other duties as are assigned.

Other Responsibilities:

Assists management with special projects and tasks as requested.

Independence of Judgment:

The degree of independent judgement is medium, allowing the compliance function to be discharged properly.

Approved programs and documented procedures provide guidance and direction for standard operating procedures.

The Compliance Supervisor must recognize and understand his/her accountability and responsibilities must be sanctioned and approved by both the internal management as well as external authorities.



Supervisory Responsibilities:

This position requires direct supervisory responsibilities of a team of Compliance Analysts.

Competencies:

+ Ability to identify and understand legal and regulatory requirements affecting the organization.

+ Ability to utilize such knowledge to assist the organization in ensuring compliance with the various requirements.

+ Ability and confidence to communicate clearly, succinctly and effectively, written and oral, to groups or on a one-on-one basis.

+ Ability to conduct research and analysis of situations coupled with the ability to recognize conceptual links and identify complex patterns of behavior.

+ Ability to negotiate and arrive at procedures that meet compliance objectives without placing undue burdens on the operating units.

+ Ability to manage internal and external relationships and projects.

+ Knowledge of and understanding of the jurisdiction’s regulators’ objectives, functions and powers

+ Ability to appropriately and effectively manage conflicts of interest.

Impact of Errors:

The impact of errors of this position could significantly impact or affect other department activities; external services; Bank’s strategic results; Bank’s federal or local examinations and Bank reputational image among agencies, customers, and the community in general.

Errors can result in legal and financial sanctions or consequences, as well as reputational loss.

Interpersonal Communication:

Excellent interpersonal communication is critical to the role’s ability to effect appropriate and effective relationships between the organization, FSC and other regulators.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Specific vision abilities required by this job include close vision and distance vision.

While performing the duties of this Job, the employee is regularly required to sit; use hands to finger, handle, or feel and talk or hear.

The employee is occasionally required to stand and walk.

Education:

A bachelor’s degree in finance/Banking/Accounting or related field is desirable, but at minimum an associate’s degree from a recognized, accredited institution.

Minimum Requirements:

+ Knowledge of the legal and regulatory requirements that affect the organization.

+ Demonstrated evidence of the ability to clearly, succinctly and effectively communicate, written and oral, as well as absorb information – listen, without dominating dialogues.

+ Minimum 3 years in the banking industry, and knowledge of BSA/AML and OFAC laws and regulations.

+ Prior experience working in a compliance position in the banking industry preferably in BSA/AML, branches or back-office operations, or interna/external audit.

+ Ability to analyze complex standards, laws and regulations and relate those laws to operational procedures, company policies, and industry trends.

+ Proficiency in Microsoft Office applications (Word, PowerPoint, Excel, Outlook) is necessary to complete assigned tasks and projects.

+ Prior Supervisory experience is desired but not required.

+ Organized, detailed oriented, efficient, and able to work independently and think critically.

+ Computer literate.

Experience:

+ 3 to 5 years prior work experience in similar roles within a financial services institution, regulatory or auditing agency.

+ Experience in the development of compliance programs and the utilization of monitoring tools and techniques

+ Experience in the facilitation of compliance training programs
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Required Skill Profession

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