Director of Financial Crimes Compliance

3 weeks ago

New York, United States CFSB Full time

**JOB SUMMARY**:
CFSB is seeking an experienced Director of Financial Crimes Compliance Systems within the Bank Secrecy Act (BSA) Department who will be responsible for overseeing and managing the bank's financial crimes compliance systems, ensuring they are effective, efficient, and in line with regulatory requirements. This position plays a crucial role in maintaining the bank's compliance with BSA regulations, as well as other relevant laws and guidelines.
The role requires a strong understanding of financial crime risks, regulatory environments, and technology solutions. It demands a combination of broad technical skills related to system integration, data analysis, and compliance, as well as strong interpersonal skills for effective team management and collaboration.

**Responsibilities**:

- Develop and execute data system vision and strategy that aligns with business goals and growth plans.
- Drive innovation and continuous improvement efforts to meet evolving demands.
- Develop, implement, and maintain robust compliance systems and processes to ensure the bank's adherence to BSA regulations.
- Collaborate with various departments, including IT, Operations, and Risk Management, as well as external vendors to integrate compliance systems seamlessly into the bank's overall infrastructure.
- Proactively monitor and assess the performance of compliance systems, identifying areas for improvement and implementing necessary updates or enhancements.
- Successfully oversee the management of compliance data, ensuring its accuracy, and integrity.
- Perform ongoing reconciliation of data feeds to the BSA/AML/OFAC and Fraud monitoring systems.
- Stay abreast of regulatory changes and industry best practices related to BSA compliance and ensure that the bank's compliance systems are adapted accordingly.
- Develop and maintain comprehensive documentation of compliance systems, processes, and procedures.
- Provide ongoing training and guidance to relevant staff on the use and importance of compliance systems.
- Conduct regular risk assessments and audits of compliance systems to identify potential vulnerabilities and implement corrective actions.
- Liaise with external auditors and regulatory authorities during compliance examinations and audits.
- Prepare and present high-quality reports on the status and effectiveness of compliance systems to senior management and the board of directors.
- Lead, manage, and mentor a team of compliance professionals, setting clear goals and expectations, providing ongoing guidance and support, leading to a high performing and effective team.
- Conduct regular performance evaluations, providing constructive feedback and identifying opportunities for growth and advancement.
- Ensure that team members are adequately trained and equipped with the necessary skills and knowledge to perform their roles effectively.
- Delegate tasks and responsibilities appropriately, ensuring an equitable distribution of workload and opportunities for team members to take on new challenges.

**Knowledge, Skills, and Abilities**:

- In-depth knowledge of BSA regulations, as well as other relevant compliance laws and guidelines.
- Understanding of risk assessment methodologies and the ability to assess vulnerabilities in compliance systems and processes.
- Strong understanding of banking operations and financial services.
- Excellent project management skills, with the ability to prioritize and manage multiple tasks simultaneously.
- Strong analytical and problem-solving skills, with a proactive approach to identifying and mitigating risks.
- Exceptional communication and interpersonal skills, with the ability to effectively collaborate with cross-functional teams.
- Proficiency in relevant technology and software, including compliance management systems and data analytics tools.
- Certification in anti-money laundering (AML) or related fields is a plus.
- Strong leadership skills, with the ability to inspire, motivate, and develop team members.

**Education, Training, and Experience**:

- Bachelor's degree in Computer Science, Information Systems, or a related field. Master's degree preferred.
- Minimum of 10 years of experience in compliance, with at least 5 years in a management role.
- Demonstrated experience with transaction monitoring, machine learning, sanctions screening, and customer risk scoring models required.
- Proven experience in leading and managing a team of compliance technology professionals.
- Proven experience in developing, implementing, and managing complex compliance systems.

**Salary Range: $160,000-$170,000/annum**
- "Base salary range does not include performance-based bonus and/or other benefits, where applicable. Actual base salary offer will vary based on skills and experience."_

**About Community Federal Savings Bank (CFSB)**

Community Federal Savings Bank (CFSB) is a federally chartered bank founded in 2001 and headquartered in New York City. CFSB has focused on providing

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