Senior Compliance Officer
What sets Bank of the West apart from other banks is our team members–they embody the optimistic spirit of the West. There is a spirit here that drives us to do more. Our team of more than 10,000 employees is vital to the success of our Bank. They reflect our modern western values—straightforward, entrepreneurial and optimistic. We seek to create a corporate culture that fosters and rewards excellence, encourages creative thinking and respects diversity – an
environment where team members are engaged, supportive of one another and enthusiastic about serving our customers.
Bank of the West offers the stability of a company that has a 135 year history and is part of BNP Paribas, a European leader in global banking and financial services and one of the 6 strongest banks in the world. We offer opportunities across our diverse business lines – Retail Banking, Commercial Banking, National Finance, and Wealth Management.
Job Description Summary
This is a 2nd Line of Defense Compliance position that is responsible for partnering with the Business Units, assessing the BSA/AML and Sanctions risk and control profile, advising, monitoring and challenging core compliance program components; ensuring compliance with regulatory risks; managing risk in a transparent manner; and monitoring the adequacy of controls.
Essential Job Functions
- Conduct enterprise BSA/AML and targeted risk assessments, which includes the following:
- Conducting interviews with line of business representatives to understand risks and controls associated with customers, products and services, business strategy, and system initiatives;
- Defining parameters and risk attributes for data collection;
- Conducting analysis with collected data and other information to quantify inherent risks and risk exposures;
- Assess the adequacy of the control environment to mitigate risks and to identify any control gaps / enhanced opportunities;
- Socializing and presenting findings/results to LOBs;
- Producing comprehensive final written product capturing the risk analysis, control assessment, and direction of risk as well as an executive-level reporting for the bank, broker dealer and the respective boards.
- Performs AML transaction monitoring coverage assessment and make risk-based recommendations
- Implement data driven policy, strategy and risk management practices.
- Advises and guides Business Units on regulatory, policy, and compliance process requirements to ensure compliance with new or existing regulations and best practices.
- Advises management on risk assessment processes and provides guidance in design and development of processes and controls to manage risks.
- Partners with business line team members to ensure timely identification, mitigation, resolution and reporting/escalation of existing and emerging compliance risks and issues.
- Provides expertise, oversight, guidance, and advices on regulatory requirements that affect the Business Unit and oversees the Business Unit compliance implementation efforts.
- Works with the areas of the Business Lines affected by changing laws, regulations, or policies to ensure the appropriate changes are timely implemented.
- Advises and consults on proposed new products, services, and initiatives with regard to compliance obligations and corresponding compliance risks, and mitigating controls. Reviews/identifies regulatory impact, and approves recommended controls.
- Advises on the design of the Business Lines QC/QA processes, monitors and challenges execution of QA/QC, assesses and identifies weaknesses, and escalates issues as appropriate.
Other Job Duties
- Conducts periodic risk-based monitoring to ensure that key compliance processes in the Business Lines are conducted in a timely and well-controlled fashion and provides reports as appropriate.
- Provides input in design of business management information (MI) reporting to incorporate compliance risk metrics, monitors metrics and escalates matters as appropriate.
- Reviews and advises on Business Lines compliance-related training materials, assignments, and delivery.
- Assists in preparation for regulatory examinations, advises on remediation and Action Plan design to address regulatory finding and tracks timely remediation efforts of the regulatory issues.
- Collaborate across the Compliance community to communicate a comprehensive view or compliance risk to management, assists in the implementation of robust compliance monitoring/surveillance programs.
- Performs other duties as assigned.
- BS Degree required
- Minimum 5 yrs compliance, risk, internal audit, or regulatory experience in the banking industry
- BSA/AML/Sanctions, Financial Crimes or related Governance, Oversight and Risk Assessment
- Strong knowledge of the laws applicable to money laundering, to include the BSA, AML, USA PATRIOT Act, and OFAC requirements
- Strong knowledge of general banking with an understanding of Retail, Commercial, Wealth Management products and services
- Knowledge of services provided by broker-dealers, investment management, trust and foreign exchange and capital markets
- Strong communication and collaboration skills, including the ability to work effectively with others at all levels across the organization
- Ability to learn quickly, manage projects and drive/achieve results
- Ability to work with regulatory agencies, including OCC, FDIC, CFPB, FINRA or state agencies
- Ability to multi-task and manage competing priorities
- Strong time management, project management and independent operator
- Strong interpersonal skills for coordination/liaison functions.
- Strong writing skills for composition of reports.
- Strong understanding of Excel is required. Data analytics (SQL, R) and experience with visual analytics tools is desired but not required.
Equal Employment Opportunity Policy
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco