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About the Role

The L3 QC Associate is responsible for SAR review and determination, SAR Filing, SAR related administrative duties, and quality control for SAR and DNF determinations. This role also assists with Currency Transaction Reports, system testing, and anti-money laundering initiatives, ensuring adherence to all applicable laws and regulations.

Responsibilities

• Perform QC on cases referred from the L2 - Financial Investigation Unit (FIU) Team, other LCD teams, and other departments.
• Confirm and review historical lookback transactions to ensure all necessary transactions are reported.
• Review “No Activity” reports and ensure no continuing activity.
• Prepare additional RFI inquiry forms and associated data for communication with BOC USA Branches, overseas BOC Branches, and/or external parties.
• Make final determination on case disposition and prepare corresponding documentation.
• Complete SAR Forms and prepare SAR Narratives.
• Complete DNF Memos and prepare supporting memos to mitigate identified risks.
• Complete review of CTRs and prepare forms for regulatory filing.
• Contribute to monitoring, gathering, and preparation of data/statistics regarding daily progression, QA, and productivity.
• Respond to EET/LGO requests for documents relating to subpoenas.
• Review and respond to CMTG or IAD concerns.
• File SARs and/or CTRs with FinCEN in a timely manner.
• Identify, mitigate, and report issues during BAU work.
• Follow up on and resolve issues with guidance from Head of SAR or Deputy Head of SAR.
• Provide/participate/develop training, feedback, and assistance to L2 analysts to enhance risk identification and case review skillsets.
• Provide SME Execution for the enhancement of Transaction Monitoring System (TMS) operations, processes, policies, and procedures.
• Assist with developing, implementing, and/or advising on a risk-based compliance monitoring program.
• Support enhancement and validation of TMS scenarios, investigation, reporting, CRR models, etc.
• Provide advisory services to business lines regarding customer risk rating, PEP identification, transaction monitoring, and regulatory reporting obligations.
• Serve as a liaison to different stakeholders and partners for projects and initiatives impacting the SAR team or transaction monitoring.
• Assist SAM SMEs on BSA/AML regulatory requirements and concerns.
• Escalate and report suspicious activity pursuant to regulatory obligations.
• Monitor AML/BSA industry developments, including red flags and best practices, and maintain advanced knowledge of new and amended laws and regulations.
• Provide and organize necessary training to the team, stakeholders of LCD, and/or LOBs across the Branch for Level 3 matters and Transaction Monitoring.
• Perform additional tasks and projects assigned by LCD’s Management Team in support of transaction monitoring or the Compliance Program.
• Serve as a key point of accountability for research and analysis associated with the Bank’s activities and exposure to global financial crime.
• Review, assess, and respond to CMTG, internal audit, or OCC concerns as needed to support the SAM program and team function.

Requirements

• Bachelor Degree required
• Minimum 1 year of experience in compliance, legal, and financial industries
• Minimum 1 year of experience leading teams within financial services, fraud management, risk, legal/compliance or other relevant leadership and/or management positions preferred
• Knowledge of U.S. Banking regulations
• Good knowledge and understanding of general OFAC, BSA/AML, and USA PATRIOT Act and risk management principles

Skills

• SAR review
• SAR Filing
• Quality control
• Currency Transaction Reports (CTR)
• System testing (UAT)
• Anti-money laundering (AML) initiatives
• Transaction Monitoring System (TMS) operations
• Risk-based compliance monitoring program
• Customer risk rating/determination
• PEP identification
• Transaction monitoring
• Regulatory reporting obligations
• BSA/AML regulatory requirements
• Suspicious activity reporting
• Financial crime research and analysis

Location

• USA

Work Type

• Full-time

Experience Level

• 1+ years experience
• Leadership/management experience preferred

Education Level

• Bachelor Degree

Salary/Compensations

• USD $42,000.00 - USD $90,000.00 /Yr.

About the Company

• Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions.
• Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.