SMBC is seeking a Vice President for our BCDAD Compliance Team. Reporting to the Group Manager of Compliance Operations, the Department Head of Account Control Group (ACG) has overall accountability for related operational efficiencies and customer data integrity for SMBC, Bank and subsidiaries in accordance with external rules and regulations as well as internal policies and procedures of SMBC and Head Office.
The Department Head directs a defined infrastructure area and leads the Accounts Control Group to ensure strict adherence to regulatory requirements in the processing of transactions. The position manages day-to-day execution and broader strategic department planning. The Account Control Group process requires a 'six- eye review protocol' for all new onboarding clients. This position acts as senior most point of escalation for standard transactions. Complex transactions are escalated to next level of management or to CPAD (Compliance Department). Number of direct reports: 4
Ensures that staff is fully trained and current on all applicable regulations including KYC/AML protocols and best practices; ensures that the team has access to tools required to work successfully.
Manages employee relations, workforce planning, performance management, and mentorship for all in scope members.
Ensures adherence to the SMBC KYC (Know Your Customer ) Program through operationalizing the policy in the form of well-articulated processes and written procedures; supports industry mandated changes or system changes by participating in the change process; implements changes through compliance with bank policies.
Activities of the ACG team are governed by SMBC’s Policies and Procedures. The Department Head is responsible to ensure that the following are adhered to by all employees within the department:
- ensuring that CIP information and mandatory DD/EDD information is collected prior to account opening;
- collecting from the RM and reviewing, for adequacy and accuracy, all required KYC information and documentation within prescribed time frame.
- confirming that verification documents are obtained by the RM and work performed by ACG are completed within a prescribed time frame;
- conducting background checks (i.e., OFAC, politically exposed persons, 311 and adverse information checks),
- maintaining evidence of search results in the KYC system and escalating to the BSA Officer any confirmed or suspected name matches associated with material negative information.
Manages control of Patriot Act Certificates regulatory requirement.
Develops, conducts testing and implements workflows, procedure updates and enhancements; provides analyses of application systems.
Participates in Compliance Operations meetings and enterprise-wide initiatives as subject matter expert.
Drafts communications and provides documentation as required in response to inquiries from internal and external auditors, bank departments, and regulators.
Interfaces with business units throughout the bank including front office teams, as needed.
Reviews, monitors and prepares necessary reports of the departments daily activities.
The DH is responsible for maintaining open communication with BCDAD management for all matters relating to ACG such as reporting progress, incidents, anomalies, resource needs and delays in work completion among other personnel and process management topics.
Ensures that the department supports the bank's business continuity process.
Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.
Expert level technical knowledge of AML, Bank Secrecy Act, Foreign Asset Control, and other compliance related acts and regulatory requirements
Expert level knowledge of KYC process and regulations.
Expert level knowledge of banking policies, statutory and compliance regulations.
Expert level knowledge of market practices related to compliance operations.
Strong ability to direct staff and workflows in accordance with SMBC standards and practices.
Strong sense of urgency and accountability; and strong time- management skills.
Strong management skills; influencing and delegation skills.
Ability to execute in a high pressure environment.
Strong presentation and communication skills.