Burr Ridge, IL

WHAT YOU'LL DO

The Bank Secrecy Act / Anti-Money Laundering (BSA/AML) department’s AML Investigations and Enhanced Due Diligence (EDD) Manager (Manager) must have a high-level of expertise in BSA/AML compliance, AML investigations, EDD reviews, economic sanctions, and other related financial crimes laws and regulations, directives, guidance, and best practices, as well, as running teams focused on AML investigations and/or EDD reviews.

This Manager will oversee a team of analysts that performs initial and ongoing periodic EDD reviews of higher risk customers, AML transaction monitoring system alerts, case investigations, and suspicious activity reporting (SAR). This Manager will also assist in reviewing and enhancing LOB customer due diligence (CDD) and customer risk rating methodology and scoring, assist in maintaining an effective AML transaction monitoring system, including conducting periodic scenario tuning projects with the Systems and Analytics team, and assist with other projects such as the enterprise-wide BSA/AML and OFAC risk assessment.

Finally, this Manager must have a risk-based and innovative mindset, while also having the ability to work collaboratively with other BSA/AML Department managers and team members to influence change.

Duties & Responsibilities

• Lead and develop high functioning AML investigations and EDD teams


• Develop and enhance risk-based procedures and processes related to AML investigations, EDD reviews, and other related tasks


• Conduct AML alert reviews, case investigations, and EDD reviews of higher risk customers


• Establish a seamless and transparent interface between the AML investigations and EDD review functions with the goal of developing a risk-based, efficient, effective, and proactive staffing/work model


• Develop a Quality Control program to ensure alerts, cases, SARs, and EDD reviews have sufficient quality and information, are completed timely, and proper feedback/training is provided to staff


• Ensure the proper and timely filing of SARs


• Assist in the analysis and implementation of risk-based AML monitoring and EDD reviews that align with the AML Act of 2020, particularly the AML/Counter-Terrorist Financing National Priorities


• Develop Key Risk and Performance Indicators to monitor effectiveness and efficiency of AML investigations and EDD review analysts to proactively identify key risks


• Monitor and stay current with BSA/AML and OFAC regulatory, industry developments, and best practices


• Assist or lead projects related to the enhancement of the Bank’s BSA/AML and OFAC programs, particularly those focused on suspicious activity monitoring and EDD reviews


• Regular reporting (written and verbal) to senior management, executive management, and the Executive Compliance Committee in a clear, concise manner


• Manage and develop team members’ skills and technical expertise to meet oncoming risks and business changes

WHAT YOU'LL BRING

Knowledge of:

• Federal Regulations, specifically regulations implemented and enforced by FinCEN and the federal functional regulators


• Experience managing people and complex projects


• Good oral and written communication skills

Ability to:

• Attend compliance related meetings with business partners at the various bank regions, as applicable, in relation to the Regulatory Compliance Program


• This position requires the ability to assess BSA/AML and OFAC risk in current and new bank initiatives while providing easy to understand guidance to business staff and senior management

WHY IT MATTERS

With recent changes to the BSA/AML regulatory space through passage of the AML Act of 2020, strong employees with a mindset that is risk-based and innovative are in need more than ever. The AML investigation and EDD team is critical for the BSA/AML Department. Having a risk-based and innovative BSA/AML program gives Busey a competitive advantage over its competitors, while also playing an important role in protecting the bank and financial industry from criminals. In today’s regulatory environment, identifying and mitigating financial crimes risk before it becomes a bigger issue, not only protects income, it builds up Busey’s reputation with its customers. A strong reputation leads to customer retention and new customer acquisition. You will lead and curate this team of BSA/AML professionals. You will also be a partner to Busey’s business lines and key to their success and the success of Busey.

EDUCATION & TRAINING

• Bachelor’s degree is required


• Graduate degree preferred (MBA, J.D.)


• 5+ years of BSA/AML experience leading AML monitoring and/or EDD review teams is required. Additional experience within BSA/AML and/or OFAC risk and governance, analytics, or Quality Control / Assurance functions is preferred


• 10+ years of banking, compliance, or risk management experience in financial services preferred


• Professional certification (e.g., CAMS, CFE, etc.) preferred

Remote Eligible In: Illinois, Indiana, Florida, Missouri, Iowa, Kentucky, Michigan, Ohio, Tennessee, Texas, Virginia, Georgia, Wisconsin

Busey believes that diversity and inclusion among our teammates is critical to our success as a company, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool.

Equal Opportunity Employment is a priority for Busey and all qualified applicants will receive consideration regardless of race, color, religion, national origin, genetic information, sex (including pregnancy), age, sexual orientation, gender (including gender identity and expression), marital status, military status, veterans status, citizenship status, work authorization status, work disability, order of protection or any other characteristic protected by applicable law or other non-merit based factors.