Assistant Vice-President, BSA/AML (Know Your Customer and Enhanced Due Diligence)

Overview

Manage and direct Navy Federal's Financial Intelligence Unit (FIU) under leadership of the VP, BSA/AML & OFAC Compliance. This position will lead the Know Your Customer / Enhanced Due Diligence Program workstream, working alongside the AVP leading the CTR and SAR Operational functions. Assist with development of long- and short-term goals and strategic plans to support enterprise initiatives. Oversee the operations of a sustainable, effective, and efficient BSA/AML/CFT Compliance Program. Provide tactical and strategic support to VP, BSA/AML & OFAC Compliance. Direct report to VP, BSA/AML & OFAC Compliance.

Responsibilities

• Expertly manage Navy Federal's BSA/AML Compliance functions in accordance with the Federal Financial Institutions Examination Council (FFIEC), and state and federal regulations
• Lead Navy Federal's BSA/AML/CFT Operations including Customer Identification Program (CIP), Customer Risk Rating (CRR) Program, Know Your Customer (KYC) Program and related due diligence risk reviews (e.g., EDD), implementation of controls and reporting metrics, and the interaction with currency transaction reports (CTRs), suspicious activity reports (SAR), and other related regulatory reports
• Manage/actively monitor BSA/AML/CFT models and monitoring systems ensuring adherence to best practices, and timely, proactive, accurate identification/detection of risk activities
• Interpret BSA/AML/CFT risk assessments and determine impact and/or changes on current business processes, and ensure timely resolution of identified issues/concerns
• Oversee interpretation and implementation of regulatory changes, including any related to the Anti-Money Laundering Act of 2020 and the Corporate Transparency Act
• Oversee interpretation and implementation of change management impact on enterprise-wide operations, systems, processes and staff/management compliance training
• Build collaborative relationships and liaise with external regulatory agencies regarding requests for information, communication of alerts, issue resolution and response, and best practices
• Serve as point of contact on internal and external regulatory examinations, and work collaboratively with internal partners/outside counsel, as necessary, to fully remediate and address examine findings
• Manage vendor relationships to ensure product service and quality
• Determine gaps in performance metrics, and recommend/execute change management techniques for efficiency/quality performance improvements
• Monitor, identify, and respond to high-risk customer/activities impacting Navy Federal members, services, and financial assets
• Collaborate with Navy Federal's technology team (ETS) to integrate, develop, and maintain key department automated systems, notably the BSA/AML monitoring tool; Anticipate issues and quickly work with ETS to remediate issues with short-term and long-term solutions, as appropriate, to ensure regulatory compliance
• Collaborate with Navy Federal onboarding teams to ensure appropriate customer risk ratings, due diligence, and perpetual KYC
• Define specifications for and assist in evaluating automated systems enhancements
• Consider forward strategies and planning to ensure the BSA/AML Program continues to meet Navy Federal's growth and emerging threats
• Provide counsel and advice to the internal BSA/AML and OFAC Compliance team as well as business unit managers and project leaders on BSA/AML and OFAC compliance matters and processes
• Be a key contributor to the development of an enterprise-wide BSA/AML education and training strategy through collaboration with BSA/AML & OFAC Compliance's training team, Navy Federal e-Learning, and other business unit training areas for enterprise or targeted business groups; strive for consistent application of BSA/AML policies, procedures across business groups
• Manage business recovery plans by developing effective processes and procedures, and maximizing the detection of risk/potential exposures of transactional activities impacting Navy Federal business
• Assess cross functional impact of business process changes on BSA/AML processes and rules
• Perform supervisory/managerial responsibilities to:
  • Ensure adequate/skilled staffing; selection and placement of employees
  • Establish performance goals and priorities
  • Prepare, conduct, and review performance appraisals
  • Develop, mentor and counsel employees
  • Ensure personnel morale and well-being
  • Provide input and/or prepare budget requirements for Annual Financial Plan (AFP)
  • Ensure section/branch goals and objectives align with division/department strategy
  • Ensure efficiency of operations
  • Perform other related duties as assigned or appropriate

Qualifications

• Advanced knowledge of Bank Secrecy Act, USA Patriot Act, and associated requirements
• Extensive experience in compliance roles having broad exposure to regulations interpretation, compliance implementation, risk assessment analysis, regulatory audits, administration, and communications
• Extensive experience in leading large projects/initiatives which have business risk and impact
• Extremely effective skills in managing multiple priorities independently and/or in a team environment to achieve goals
• Superb research, analytical, and problem-solving skills
• Superb skills in presenting findings, conclusions, alternatives and information clearly and concisely
• Superb skills exercising initiative and using good judgment to make sound decisions
• Superb skills in results-oriented leadership in a challenging environment
• Extensive experience in working with all levels of staff, management, stakeholders, vendors
• Extensive experience in change management processes including strategies, business processes, education and communication
• Superb word processing and spreadsheet software skills
• Superb database and presentation software skills

Desired Qualifications

• Industry certifications in BSA-AML field (e.g., CAMS certification)
• Graduate degree in business, management, accounting, information systems, or law
• Extensive experience at a comparable/large financial institution or within the financial services industry
• Extensive experience at a law enforcement or security government agency

Hours: Monday - Friday, 8:00AM - 4:30PM
Location: 820 Follin Lane, Vienna, Virginia 22180

About Us