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 incumbent plays an important role in Front Line Unit (“FLU”) compliance oversight, regulatory change management and compliance risk metrics management. Duties will include assisting the VP to manage the FLU compliance oversight responsibilities and regulatory change management on a day-to-day basis.
Responsibilities:
Include but are not limited to:
FLU BSA and Compliance Oversight
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Assist with monthly FLU BSA Officer meeting reporting materials, and quarterly FLU Subcommittee meeting reporting preparation, including data collection from each FLU BSA Officer and summarize into presentation format
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Draft, seek review and approval of, and distribute minutes for bi-weekly and monthly one-on-one meetings with FLU BSA Officers, monthly BSA Officer meetings, and quarterly FLU AMLCC Subcommittee meetings
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Seek approvals from Subcommittee voting members in accordance with subcommittee charter requirements
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Provide additional support to the Commodity Business Center (“CBC”), such as reviewing New/Roll Repo Requests and potential onboardings, to ensure proper identification and addressing of compliance risk by CBC
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Maintain the Wolfsberg Questionnaire, conduct annual update in coordination with relevant stakeholders across multiple departments
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Assist with responding to document requests from Internal Audit Department, LCD Compliance Monitoring and Testing Group, and others
Regulatory Change Management
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Assist with preparing a monthly regulatory development newsletter to the Bank, outlining recent regulatory developments
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Assist with preparing the presentation materials of regulatory updates/enforcement actions for monthly BSA Officer meeting and quarterly FLU AMLCC Subcommittee meeting presentations
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Assist with summary reporting, with translations, of regulatory development for the Bank-wide Staff News and the submission to Head Office
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Assist with tracking regulatory changes and their impact on the Bank
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Provide administrative support to the regulatory change management process including, but not limited to, the regulatory tracker maintenance
FLU Compliance Testing and Compliance Risk Metrics
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Assist with overseeing the FLUs to maintain the FLU Compliance Control Inventory
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Assist with reviewing the FLU compliance control testing plans
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Collect and consolidate the monthly metrics from FLUs to monitor plan execution progresses and exception remediation status
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Present the relevant metrics to the monthly meetings with FLU QCUs, monthly BSA Officer meetings, the FLU AMLCC Subcommittee, and Enterprise Risk Oversight Committee for reporting and discussion
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Hold monthly meetings with FLU Quality Control Units (“QCUs”) on testing status
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Assist with Ad hoc tasks related to FLU Compliance Testing
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Assists with monthly and quarterly Compliance Metrics Heat Map Quality Control
Other
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Assist the Deputy Chief BSA Officer and the VP Assist with other types of ad hoc assignments
Qualifications:
- Bachelor’s degree in Finance, Business Administration, Accounting/Actuarial Science, Economics, Law, or a related quantitative discipline required
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0-3 years of Legal & Compliance related experience for Associate level and 4-8 years for AVP level
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0-3 years of experience in BSA/AML laws and regulations and OFAC/sanctions compliance for Associate level and 4-8 years for AVP level
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Strong quantitative and qualitative analytical skills with the ability to provide practical solutions and able to reduce large amount of information into clear and concise summaries
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CAMS Certificate preferred but not required
Pay Range
Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.
: USD $42,000.00 - USD $150,000.00 /Yr.