The AML/CFT Compliance Manager oversees the compliance operations, managing workflows, quality control, and ensuring adherence to AML/CFT regulations, SAR filings, and departmental procedures.
SUMMARY/OBJECTIVE:
The AML/CFT Compliance Manager oversees operations within the second line of defense. The AML/CFT Compliance Manager is responsible for the day-to-day workflow management of the AML/CFT Compliance Department, including but not limited to the functioning of the bank’s Anti-Money Laundering (AML) program, Countering the Financing of Terrorism (CFT) program, reporting under the Bank Secrecy Act (BSA), and the bank’s sanctions compliance program. The second line of defense provides a credible review and challenge for the Bank’s first line Financial Crimes Program, while providing guidance to bank departments on inquiries relating to AML/CFT and sanctions compliance. This is a full-time, 100% on-site position at our Woburn, MA office.
ESSENTIAL FUNCTIONS:
The AML/CFT Compliance Manager oversees operations within the second line of defense. The AML/CFT Compliance Manager is responsible for the day-to-day workflow management of the AML/CFT Compliance Department, including but not limited to the functioning of the bank’s Anti-Money Laundering (AML) program, Countering the Financing of Terrorism (CFT) program, reporting under the Bank Secrecy Act (BSA), and the bank’s sanctions compliance program. The second line of defense provides a credible review and challenge for the Bank’s first line Financial Crimes Program, while providing guidance to bank departments on inquiries relating to AML/CFT and sanctions compliance. This is a full-time, 100% on-site position at our Woburn, MA office.
ESSENTIAL FUNCTIONS:
- Review reports from the Financial Crimes Department regarding suspicious activity. Provide recommendation to the Head of AML/CFT Compliance whether specific circumstances require a filing of a Suspicious Activity Report (SAR).
- Primary oversight of the bank’s quality control (QC) program relating to transaction monitoring alerts and cases; providing feedback to Financial Crimes management monthly.
- Monitor the timely and accurate filing of the Bank’s SARs and Currency Transaction Reports (CTRs)
- Partner with the business managers on AML/CFT concerns and opportunities to improve processes or review controls.
- Review and update AML/CFT department procedures as needed.
- Collaborate with Head of AML/CFT Compliance for external audits, regulatory examinations, and risk assessments as required.
- Keep abreast of developments in emerging AML/CFT risks, AML regulations, and regulatory agency guidelines; support the development of necessary enhancements to Northern Bank's programs.
- In depth knowledge of the Anti-Money Laundering, Countering Financing of Terrorism and sanctions compliance; strong analytical and decision-making skills; organizational skills; AML transaction monitoring software
- Minimum 5-8 years of experience in AML/CFT compliance; Minimum 1-3 years of supervisory or management experience.
- Bachelor’s Degree: CAMS and/or CFE certification (or willingness to obtain certification(s)) is highly desired
- Self-starter with initiative and intellectual curiosity
- Excellent communication skills
- Detail-oriented
Northern Bank Woburn, Massachusetts, USA Office
275 Mishawum Rd, Woburn, MA, United States, 10801
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