Legal & Compliance Department - L2 Financial Intelligence Unit Associate/AVP

Bank of China Limited, New York Branch; New York; Hybrid; USD 42,000 - 150,000; Full time

Job summary

Bank of China Limited, New York Branch seeks an Level 2 Investigations Team Associate / AVP to identify, investigate and report suspicious activity in a timely manner. You will draft SARs, manage direct customer investigations and coordinate with the KYC and compliance teams to ensure accuracy and compliance with regulations.

The role requires 4+ years in compliance or related fields, strong knowledge of BSA/AML and OFAC, and proficiency with Fircosoft, CMT, Excel, Word, and PowerPoint.

Qualifications

• Bachelor’s degree required; Advanced degree preferred; CAMS preferred.
• Minimum 4 years of experience in compliance, legal, and financial industries or related, experience in suspicious transaction/activity monitoring, investigation.
• Knowledge of U.S. Banking regulations and compliance practice, compliance risk management, with emphasis on BSA, AML and OFAC. Proficient in Excel, Word and PowerPoint.

Responsibilities

• Identify, investigate and report suspicious activity.
• Prepare SARs with pertinent details per procedures.
• Manage direct customer investigations and use Case Management Tool for investigations.
• Provide feedback and coaching on investigation quality to L1/L2.
• Maintain logs of investigations and FIRCO wire release inquiries.

Skills

AML monitoring

Investigations

Due diligence

Communication

Education

Bachelor’s degree

Advanced degree

CAMS

Tools

Fircosoft

Case Management Tool (CMT)

Excel

Word

PowerPoint

Job 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 Level 2 Investigations Team Associate / AVP (Investigations Analyst) is responsible for (but not limited to) identifying, investigating and reporting suspicious activity and/or mitigating risks in a timely manner, as further defined in the current Case Investigations and SAR filing Team procedures. Prepare and Draft SARs with pertinent details and clarity as per the current SAR/Investigations Team procedures. Manage direct customer investigations. Conduct continuing preliminary reviews (compile, review/analyze wire transactional data, differentiate continuing and non-continuing activities); Project work which may include assisting with system testing (UAT) and/or various anti-money laundering (AML) initiatives; Communication of apparent anomalies, conduct special investigations and responding to management queries. Assist in the on-boarding and training of new hires; prioritizing work to ensure all deadlines are met. Understand and adheres to both the letter and the spirit of all laws, regulations and regulatory guidance that apply to the role.

Responsibilities

Include but are not limited to

Case Investigations and SAR Preparation

• Responsible for initial case reviews/investigations and/or continuing SARs follow-up review process.
• Review alerts escalated by the FLU and other internal/external sources to determine if the activity escalated is suspicious based on analysis of a large scope of transactional data and due diligence.
• Manage direct customer investigations. Investigation work includes but is not limited to performing & evaluating investigations in Case Management Tool (CMT), performing due diligence, Front Line Unit (FLU-BSA) reach out, writing SAR or Decision Not to File.
• Responds and remediates L3 SAR Team Feedback for case investigation submitted by themselves or other team members, as required.
• Performs customer and non-customer ad-hoc investigations when required.
• Provide feedback/coaching on the accuracy, methodology, and overall quality to the L1 based on escalated alerts reviewed.
• Manages Fircosoft Filter System wire release investigations for the Bank on behalf of FIU.
• Provide updates and awareness to L2 Case Investigations Team Lead regarding timeliness of investigations being conducted, as applicable.

Data and Information Collection, Review and Reporting

• Responsible for Request-for-Information (RFI) due diligence.
• Prepare inquiry form and data to request additional information from other department unit/branch of the Bank, other BOC affiliates or from an external party (e.g. correspondent banks).
• Back up and assist in overseeing duties such as but not limited to IAD/CMTG/OCC Responses, Training, Reporting, Interviewing, and other management functions in a junior role.
• Maintains a log of customer investigations and results and Reports customers who had SAR filings to KYC Team on a monthly basis and on ad hoc basis as required.
• Maintains a log of Firco wire release investigations and reports monthly, and on an ad hoc as required.
• Participates in Filter Management, where required.
• Project work which may include assisting with system testing, communication of apparent anomalies and in conducting special investigations and responding to management queries.

Qualifications

• Bachelor’s degree required; Advanced degree preferred but not required; CAMS preferred.
• Minimum 4 years of experience in compliance, legal, and financial industries or related, experience in suspicious transaction/activity monitoring, investigation.
• Knowledge of U.S. Banking regulations and compliance practice, compliance risk management, with strong emphasis on BSA, AML and OFAC. Advanced PC sills, including Excel, Word and PowerPoint required.
• Fluency in Chinese or Mandarin is a plus 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.