Company:
Bank of China Limited, New York Branch
Location: New York County
Closing Date: 19/10/2024
Hours: Full Time
Type: Permanent
Job Requirements / Description
Introduction:
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.
Overview:
The SPC Quality Assurance Associate will primarily be responsible for conducting random sample quality assurance testing for BSA/AML Compliance teams. This includes, but is not limited to Transaction Monitoring alert reviews, case investigations, SARs and KYC cases utilizing a defined risk-based approach and structured testing framework to ensure compliance with bank policies, procedures and regulatory requirements.
Responsibilities:
Include but are not limited to:
SPC Functions
Perform reviews of BSA/AML team’s deliverables (e.g. findings, research, narratives, and dispositions) for quality and adherence to the bank’s standards and policies
Provide guidance and feedback as deemed necessary
Communicate quality issues/errors to respective owner ensuring a clear understanding of issues/errors made and develop prevention strategies
Analyze QA findings for trends and report any concerns
Review SPC processes and provide recommendations on areas of improvement
Prepare summary reports/metrics and present analysis to management (as requested)
Report any alerts, cases or SARs that are outstanding past their due date to supervisor
Report any critical findings/analysis to supervisor and/or Senior Management
As required, participate in SPC initiatives, the implementation of new processes and special projects
Compliance
Ensure compliance with BSA/AML related laws and regulations, identify matters of noncompliance and escalate as necessary for resolution
Provide timely responses to requests initiated by supervisor or Senior Management
Stay informed of related regulatory matters through Federal agency updates and guidance and through industry webinars and conferences
Participate, prepare and or respond to inquiries deriving from internal (i.e. IAD/CMTG) or external (i.e. OCC) reviews
Participate and provide analysis for other special compliance projects and/or other duties as assigned from supervisor and/or Senior Management
Participate in identify and interviewing new staff members
Training
Provide feedback on the design and execution of BSA/AML training
Provide training (as required)
Complete training as prescribed from management
Qualifications:
Bachelor’s degree is required
2 years of work experience in AML/OFAC, Banking, Finance, Risk Management, Legal, Compliance or relevant industry
Knowledge of U.S. Banking regulations and compliance practice emphasizing on BSA/ AML, OFAC and consumer compliance
CAMS certification preferred
Pay Range
Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.
:
USD $42,000.00 - USD $90,000.00 /Yr.
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.
Overview:
The SPC Quality Assurance Associate will primarily be responsible for conducting random sample quality assurance testing for BSA/AML Compliance teams. This includes, but is not limited to Transaction Monitoring alert reviews, case investigations, SARs and KYC cases utilizing a defined risk-based approach and structured testing framework to ensure compliance with bank policies, procedures and regulatory requirements.
Responsibilities:
Include but are not limited to:
SPC Functions
Perform reviews of BSA/AML team’s deliverables (e.g. findings, research, narratives, and dispositions) for quality and adherence to the bank’s standards and policies
Provide guidance and feedback as deemed necessary
Communicate quality issues/errors to respective owner ensuring a clear understanding of issues/errors made and develop prevention strategies
Analyze QA findings for trends and report any concerns
Review SPC processes and provide recommendations on areas of improvement
Prepare summary reports/metrics and present analysis to management (as requested)
Report any alerts, cases or SARs that are outstanding past their due date to supervisor
Report any critical findings/analysis to supervisor and/or Senior Management
As required, participate in SPC initiatives, the implementation of new processes and special projects
Compliance
Ensure compliance with BSA/AML related laws and regulations, identify matters of noncompliance and escalate as necessary for resolution
Provide timely responses to requests initiated by supervisor or Senior Management
Stay informed of related regulatory matters through Federal agency updates and guidance and through industry webinars and conferences
Participate, prepare and or respond to inquiries deriving from internal (i.e. IAD/CMTG) or external (i.e. OCC) reviews
Participate and provide analysis for other special compliance projects and/or other duties as assigned from supervisor and/or Senior Management
Participate in identify and interviewing new staff members
Training
Provide feedback on the design and execution of BSA/AML training
Provide training (as required)
Complete training as prescribed from management
Qualifications:
Bachelor’s degree is required
2 years of work experience in AML/OFAC, Banking, Finance, Risk Management, Legal, Compliance or relevant industry
Knowledge of U.S. Banking regulations and compliance practice emphasizing on BSA/ AML, OFAC and consumer compliance
CAMS certification preferred
Pay Range
Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.
:
USD $42,000.00 - USD $90,000.00 /Yr.
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Bank of China Limited, New York Branch