Compliance Officer
Jonuz and Andersen Consulting,LLC - New York, NY

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Primary Responsibilities: a) Responsible for ensuring total compliance of the Bank, New York Branch operations with the applicable laws and regulations of US on an ongoing basis..b) Develop compliance programs including that of BSA /AML/OFAC /FinCEN and update on an ongoing basis.c) Convene the Policy Review Committee meetings for development, review and enhancement of all compliance related policies and procedures to be headed by the CE, US Operations. Perform or co-ordinate, as appropriate, the annual compliance review of US Center as well as New York Branchs policies and procedures by updating on an ongoing basis taking into account Branchs line of business, changes in the Bank Secrecy Act (BSA ) , AML laws and other applicable compliance related regulations requirements. Review other policies of functional departments and clear them from the compliance perspective.d) Establish and maintain a compliance communication process and communicate any changes in the law or regulations on compliance matter for the Bank including BSA /AML/OFAC to Branch personnel / Head Office in a timely manner. Advise management on emerging examination and compliance issues, changes in the law, regulations, administrative rulings and Treasury, FRB and other applicable interpretations. Prepare and distribute monthly Regulatory Highlights. Provide advice on banking laws and regulations to business and logistics functions in assessing applicability to new and existing business needs. e) Conduct Compliance related meetings as per branch policies and participate as member of Internal Control Review Committees of Branch.f) Maintain daily regulatory tracking database.g) Maintain regulatory contacts database. h) Maintain a compliance library and other sources of information (e.g. Internet) relevant to laws and regulations affecting the Bank. i) Function as liaison to U.S. regulatory agencies (Federal Deposit Insurance Corporation, New York State Department of Financial Services and Federal Reserve Bank of New York) during Branch examinations and coordinating meetings during visits of Banks Executives . Be the central point of contact for OFAC and FinCEN officials.j) Cordinate bank regulatory examinations and internal audits. Ensure prompt response by taking corrective actions to detected deficiencies in examination / audit and reporting those to management and audit committee.k) Oversee first day letter responses/coordinate exam response letters.l) Oversee logistical needs of on-site examination teams. m) Co-ordinate with the Chief Executive, US operations / Vice Presidents & other staff members during the course of Regulatory Examinations.n) Organize / attend management/examiner meetings.Review with management deficiencies identified or improvements required in the a) compliance Policies and Procedures and report to the Chief Compliance Officer / General Manager, International Division of Head Office at monthly intervals.b) Coordinate with internal and independent auditors to ensure that compliance issues are adequately monitored and addressed.c) Leverage Internal Audit to identify and remediate deficiencies in policies and procedures.d) Examine and review all audits reports relating to compliance with laws and standards of conduct.e) Oversee Compliance Testing and Monitoring Function. Conduct an internal review to assess the effectiveness of and compliance with the Branch Compliance Program covering BSA /AML /OFAC etc.f) Oversee any compliance-related products software.g) Coordinate Abandoned Property/ similar state filings.h) Assist the Bank in FR Y-7 Reporting. i) Provide head office with applicable information regarding local policies and procedures and assist them in local implementation of global policies and procedures.j) Develop and participate in training on applicable banking regulations including preparing power-point presentations, delivering lectures, providing on-the-job coaching.k) Coordinate with Head Office to ensure that the policies and procedures are compliant with home country regulations and requirements.l) On an annual basis, or more frequently if necessary, review all business operations within the Branch to ensure compliance with Banks Compliance policies and procedures, applicable supervisory guidelines and adequacy of operational and systems controls. Submit reports to various departments after completion of compliance review.m) Conduct or supervise the outsourcing, as the case may be, of compliance training seminars including that for BSA /AML/OFAC for all employees to ensure providing them adequate level of Report to Chief Executive , US Center and establish a dotted reporting line with Head Office Chief Compliance Officer (General Manager).cc) Administer a reporting system in terms of which, any employee may report in confidence to him/her any suspected misconduct relating to the Banks operations or practices of which any employee may have knowledge, including without limitation, concerns regarding accounting, internal auditing controls or auditing matters and/or US regulatory compliance. dd) To act as designated CRA Compliance Officer of Banks New York Branch as per Community Reinvestment Act ee) Handle subpoena matters of New York Branchff) Oversee the risk management aspect of US Center gg) Designated BSA /AML/OFAC Officer of New York Branch-While assuming oversight responsibility for compliance with the BSA AML, USA PATRIOT Act, OFAC regulations, and all other applicable regulations and best practices in the center, he/she will be acting as BSA /AML/OFAC Officer of New York Branch and will be responsible for managing and supervising the BSA /AML/OFAC Compliance of the New York Branch, including the following. 1.BSA AML program monitoring and policy development. 2.Perform various quality control reviews and monitoring in the area of BSA AML , USA PATRIOT Act, OFAC , Correspondent Banking , Customer Identification Program Compliance3. Oversee review of international and domestic wire activity and other elevated risk transactions.4. Oversee regular monitoring and review of automated transaction monitoring through e-Gift EDD or other automated and manual monitoring systems to ensure appropriateness and effectiveness.5. Oversee customer due diligence (CDD ') and enhanced due diligence (EDD ') procedures, and customer identification program (CIP') policies and procedures.6. Coordinate the policies and procedures on monitoring transactions for suspicious activity and the handling of suspicious transactions, such as receiving referrals, evaluating them with counsel and compliance personnel as appropriate, communicating to appropriate government agencies and preparing and filing Suspicious Activity Reports (SARs ') and preparing and filing Currency Transaction Reports (CTRs ').7. Act as the designated contact person for requests for information by FinCEN and reporting back to FinCEN any matching account or transaction.8. Oversee development and implementation of policies, procedures and systems to meet OFAC requirements applicable to the New York Branch.9. Advise (pursuant to ongoing open communication and regularly scheduled formal periodic reports) senior management at the Branch and the Compliance Officer and Head Office of the Branchs compliance efforts and initiatives, the number of SARs filed and a summary thereof, an overview of the Branchs AML risk profile, compliance meetings and training, and any compliance problems or deficiencies and corrective actions taken.10. Review and hold custody (in original or copies as laid out in the respective policies and procedures) of regulatory reports filed, such as, CTRs , SARs , OFAC reports, etc.Response to Violations(i ) On receipt of information regarding a possible violation of any application law or standard of conduct, take appropriate steps to examine information and conduct the investigation necessary to determine whether an actual violation has occurred and then recommend to management an appropriate course of action.(ii) Determine whether the compliance policies and procedures should be enhanced to address the occurrence that resulted in the violation and shall make recommendations to senior management, as appropriate.Other Responsibilities(i ) Assist senior management of Bank in finalization of compliance modalities for business expansion programs. Participate as a voting member in product / service development. This does not only include the products & services offered or contemplated but related promotional advertisements and solicitations.(ii) Communicate with Banks legal counsel and relevant regulatory/government agencies regarding regulatory compliance issues.(iii) Provide advisory support to other Branch / Agency of the Bank in US center on compliance matters including BSA /AML/OFAC issues.
Qualifications & Experience/Expertize Required: A. Five years of experience as Compliance Officer / BSA AML Officer in commercial Banks (experience with international bank is preferred).B. B.A. degree supplemented by CAMS qualification.C. Experience with AML, BSA , KYC , OFAC issues.D. Strong project management skills.E. Excellent written and oral communication skills.F. Experience with IT issues as they relate to vendor selection for AML/OFAC and suspicious activity monitoring software.G. Successful completion of annual BSA /AML training and successful completion of at least 2 outside seminars on relevant compliance issues each year.