Head of FCC Monitoring & Testing

Role Description

Reporting to the Head of Compliance Monitoring & Testing (“M&T”) in the Compliance Department, Americas Division, the Head of Financial Crime Compliance (“FCC”) Monitoring & Testing manages the execution of SMBC's Americas Division FCC testing and monitoring program, with primary focus on BSA/AML, Sanctions, Fraud and Anti-Bribery & Corruption testing. The role is responsible for overseeing the day-to-day operations and managing a team of compliance professionals performing testing and monitoring activities that assess the design and operating effectiveness of SMBC's controls to mitigate the risks related to BSA/AML, Sanctions, Fraud and Anti-Bribery and Corruption, assess adherence to SMBC's policies, procedures, and processes, as well as applicable laws and regulations applicable to these risk areas.

The Head of FCC M&T will have oversight of a team of compliance professionals to support the execution of monitoring and testing engagements. The candidate should have functional knowledge of applicable U.S. banking laws and regulations with specific emphasis on Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”), sanctions, fraud and anti-bribery & corruption laws and regulations. Additionally, a familiarity of the U.S. regulatory environment, risk identification / mitigation; and managing the workflows for monitoring and testing engagements is essential. Strong operational skill set and innovation mindset with awareness of industry best practices is required to enhance the overall program. The Head of FCC M&T will interact with key stakeholders from various internal bank departments such as KYC, Sanctions, Financial Intelligence Unit, Data Analytics, Program Management, Risk and Control, Anti-Fraud/Anti-Bribery & Corruption, and Internal Audit, in addition to engagement with Head Office Personnel. 

Role Objectives

• Manage a team performing FCC M&T over all applicable group companies throughout SMBC's Americas Division.
• Provide direct oversight of assigned M&T staff and act as a role model for the assigned M&T staff.
• Work with the Head Compliance M&T to develop a risk-based annual M&T Plan and a detailed schedule of activities to ensure effective tracking of deliverables throughout the year.
• Work with the Head of Compliance M&T to conduct capacity analysis and resourcing planning to ensure timely delivery of all activities in the FCC M&T Plan.
• Maintain and ensure timely update to FCC M&T Procedures.
• Oversee the execution of all FCC M&T activities to ensure timely delivery of all activities in the FCC M&T Plan, in alignment with the quality standards set forth in SMBC AD M&T Policy and Procedures.
• Present FCC M&T results and related metrics to SMBC’s Senior Management.
• Proactively identify training opportunities for the FCC M&T staff.
• Foster a culture of strong partnership with internal stakeholders for the FCC M&T team.
• Stay abreast of changing regulatory requirements and SMBC’s business model to maintain a solid foundation of the applicable regulatory framework.
• Supports the consolidation and reporting of results within local and Head Office reporting.
• Support the Head of Compliance M&T in leading transformation/program enhancements initiatives to keep the program aligned with industry best practices.

Qualifications and Skills

• Strong working knowledge of FCC, particularly BSA/AML and sanctions, laws and regulations, and compliance requirements and standards that impact a global financial services firm such as KYC/client risk rating, transaction monitoring, suspicious activity reporting, client screening/sanctions requirements, and risk assessments.
• Strong management and leadership skills; experienced manager 10+ years
• Demonstrated professional maturity and experience managing in complex environments (matrixed organizations, Center of Excellence, regulatory enforcement action, remediation)
• Strong analytical skills to identify, document, present, and report issues.
• Strong operational skill set and innovation mindset with awareness of industry best practices for Compliance Monitoring & Testing programs.
• Understanding of Japanese culture and foreign banks in general is preferred.
• Expert knowledge of banking products and services.
• Strong relationship-building skills to manage internal management relationships.
• Strong reasoning ability; understand complex situations, people and systems needs against backdrop of an ever-changing regulatory environment.
• Maintains high level of confidentiality, unquestionable character, integrity and professionalism.
• Strong report writing and oral communication skills.

Additional Requirements

Work Experience:

• 12 + years of specialized experience in Financial Services
• Minimum 8-10 years of BSA/AML/Sanctions compliance experience (e.g., compliance, internal audit, AML Risk and Control, AML Governance and Oversight, bank regulator).
• 10+ years of management experience preferred.

Education:

• BA / BS in a relevant discipline (e.g., Accounting, Finance, Banking, Statistics, Mathematics, or other related field), or equivalent experience.
• Preferred: MA / MS / MBA

Licenses / Certifications / Registrations:

• CAMS (Certified Anti-Money Laundering Specialist) certified or other equivalent industry certification is strongly preferred (including but not limited to CFE-Certified Fraud Examiner, CPA-Certified Public Accountant, and Certified Regulatory
• Compliance Manager-CRCM).

Software Systems / Programming Languages

• Experience with Microsoft Office Suite, SharePoint

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