Reporting to the Head of QC & Testing within BSA/AML, the QC & Testing Director is responsible for managing and executing controls testing pertaining to BSA/AML, OFAC, and fraud. The objectives of these testing services are to:
Ensure compliance with laws, regulations, and organizational policies
Assess risk management practices
Evaluate systems of internal control
Enhance operational efficiencies
Major Responsibilities:
The QC & Testing Director will be responsible for directly supervising a team of professional staff and provide them with strategic and day-to-day direction in their assigned responsibilities.
Responsibilities:
Develop a risk-based testing plan that incorporates periodic, cycled reviews for established processes as well as ad hoc reviews for areas of emerging risk.
Develop testing programs that assess the design of the control structure and environment as well as test the controls to ensure that they are functioning as management intended.
Provide compliance expertise in identification of risks or control/compliance issues and develop reasonable recommendations for resolution.
Perform root cause analysis and trending analysis based on testing results or data collection.
Provide subject matter expertise and understanding of the bankwide BSA/Sanctions/fraud related programs and policies to ensure that testing execution and supporting documentation is accomplished in accordance with all requirements.
Review workpapers to ensure they are accurate, complete, and supportive.
Track open issues identified by QC & Testing, internal audit, or regulatory agencies.
Maintain effective partnerships with other managers within BSA/AML as well as other business and support partners throughout the bank.
Manage resources to ensure successful completion of the testing objectives.
Perform managerial functions, including staff recruiting, establishment of performance goals, coaching and training, as well as performance counseling and evaluation.
Stay abreast of developments concerning BSA/AML, Sanctions, and fraud.
Assist in the preparation for regulatory examinations and other duties as assigned.
Perform duties & responsibilities specific to department functions & activities.
Performs other duties & responsibilities as required or assigned by supervisor.
Responsibilities include the following: 1) adhering to and complying with all applicable, federal and state laws, regulations and guidance, including those related to Anti-Money Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.), 2) adhering to Bank policies and procedures, 3) completing required training, 4) identifying and reporting potential suspicious activity to the BSA/AML Officer, and 5) knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank.
Critical features of this job are described under the items above. They may be subject to change at any time due to reasonable accommodation or other reasons. This job description reflects management’s assignment of essential functions; it does not prescribe or restrict the tasks that may be assigned. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.
Desired Skills and Experience
KEY SKILLS, KNOWLEDGE AND ABILITIES:
Minimum of 8 years of experience related to BSA/OFAC compliance and/or audit or regulatory examinations.
Minimum of 3 years of managerial experience, preferably supervising at least three or more professional staff.
Ability to analyze data using automated tools (Excel, Access, etc.) or testing results to reach testing conclusion and develop suggestions and recommendations.
Strong communication (verbal and written) and presentation skills.
Superior interpersonal and leadership skills.
Ability to attract, retain, develop, and motivate high performing professionals and team.
Team player
Provides extraordinary service
Furthers the First Republic Bank culture and values
MENTAL/PHYSICAL REQUIREMENTS:
The ability to learn and comprehend basic instructions; understand the meanings of words and respond effectively; and perform basic arithmetic accurately and quickly.
Vision must be sufficient to read data reports, manuals and computer screens.
Hearing must be sufficient to understand a conversation at a normal volume, including telephone calls and in person.
Speech must be coherent to clearly convey or exchange information, including the giving and receiving of assignments and/or directions.
Position involves sitting most of the time, but may involve walking or standing for brief periods of time.
Must be able to travel as position requires.
May be required to lift 25-50lbs.
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