VP - Senior Compliance Officer

Job Description

Job Purpose:

The VP Senior Compliance Officer (SCO) is responsible for assisting in the coordination of the development, implementation, and administration of the Branch’s Compliance Program, including the Financial Crime and Sanctions framework, as well as all aspects of the regulatory compliance monitoring program for FAB USA. Along with the Head of Compliance (and BSA Officer), the VP SCO is required to have oversight over the FAB US Financial Crime, Sanctions and Anti Bribery and Corruption programs, as well as the Corporate Governance framework of the Branch.

Key Accountabilities:

The SCO reports to the Head of Compliance USA and is considered a “management level” key resource of the USA Compliance team. The SCO will oversee all aspects of Financial Crime, Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), Anti-Bribery and Corruption (ABC), and Sanctions compliance. Moreover, the SCO is also expected to support the Head of Compliance USA in all areas of Compliance and Corporate Governance of the Branch.

Governance

• In conjunction with, and as required by the Head of Compliance USA and Group Head of Compliance, manage the comprehensive financial crime compliance framework and assist in Corporate Governance related activities
• A core member of the in-country Compliance Committee and provide regular insight on Branch’s status on ongoing tasks, projects and initiatives.  

Strategy Development and Implementation 

• In conjunction with, and as required by the Head of Compliance USA, CCEO and Group Head of Compliance, contribute to the formulation, implementation and delivery of the Compliance strategy in line with the vision, mission, values and priorities.
• Develop, maintain, execute and continuously improve the Branch’s Compliance management framework, to assess and mitigate the risk exposures, and to ensure the Branch adheres to local regulations.

Leadership

• Assist the Head of Compliance in managing the effective achievement of functional objectives 
• Act as a role model and drive adherence to organizational values and ethics by employees of the Branch to ensure the establishment of a Compliance driven culture.

Policies, Systems, Processes & Procedures

• Responsible for the maintenance and effective implementation of Compliance policies, procedures and controls with alignment to Group policies and procedures and adherence to local regulations.

Compliance Framework

• Assist the Head of Compliance in managing all aspects of the corporate-wide Financial Crime, Anti-Money Laundering (AML) and Sanctions programs.
• Prepare responses to regulatory financial crime examinations, audits, and actions taken and ensure deficiencies are corrected.
• Provide oversight over a risk-based Financial Crime / Sanctions monitoring program including the customer due diligence on and on-going CDD, transaction monitoring, sanctions screening and suspicious activity investigations
• Support the MLRO in the preparation and submission of Suspicious Activity Reports as per local requirements
• Identify and coordinate Financial Crime program-related training and conduct staff training as necessary
• Keep abreast of regulatory developments in the U.S. and review changes to regulations, analyze impact on Branch and advise the Head of Compliance and management as necessary
• Perform other tasks as required as directed by Head of Compliance and Country CEO

Regulatory Requests

• Coordinate, compile and ensure timely responses to all AML, CFT, ABC and Sanctions Compliance Regulatory Exams, Reporting, Surveys, Data Requests, and Ad-hoc requirements.

Systems and Special Projects

• Under the guidance of the Head of Compliance USA, coordinate, manage and execute all activities related to the Compliance systems integration with HO and local IT, project team and local management as and when required.
• Ensure that AML, CFT, ABC, Sanctions Compliance systems such as transactional surveillance, name screening, trade financing monitoring etc. systems are working as intended by coordinating with US Information Technology (“IT”) and Head Office to resolve any issues associated with these systems. 

Reporting

• Responsible for the preparation of all functional reports to be prepared timely and accurately and meet location & Group requirements, policies and quality standards

Others

• Support the Branch in the Corporate Governance related activity
• Support Head of Compliance USA on any other tasks that may be assigned.
• Deputize the Head of Compliance as and when necessary
• Extend support in other 2nd line Compliance areas when required.

Qualifications

Minimum Qualification

• Bachelor’s Degree or higher in Business Administration, Banking or Finance
• Certification in compliance, such as CAMS, is highly preferred 
• Strong analytical, interpersonal, communication and facilitation skills
• Proactive, with the ability to generate ideas, think creatively and develop innovative solutions
• Discrete and has sense for integrity and handles highly sensitive information with absolute confidentiality

Minimum Experience

• At least 7 years of banking or related finance experience  
• Demonstrated proficient knowledge of US regulations, including but not limited to, the Bank Secrecy Act (BSA), USA Patriot Act, and OFAC Sanctions programs.