BSA Risk Manager

Overview

The BSA Risk Manager will be responsible for leading and managing the enterprise-wide Bank Secrecy Act / Anti-Money Laundering (BSA / AML) and Office of Foreign Assets (OFAC) risk assessments for East West Bank’s BSA / AML and OFAC program. This role reports directly into the Deputy BSA Officer. This position requires independent thinking and self-starter who takes charge of enterprise level risk assessments and delivers results that positively impact the organization’s customers, employees and bottom line.

Responsibilities

• Lead and execute the BSA / AML and OFAC risk assessment process end-to-end on an annual and ongoing basis, including oversight and support of the institutional risk assessment of the Bank’s foreign offices / branches.
• Leveraging risk assessment software platform(s), maintain and update methodologies, measure risk based on the Bank’s profile, analyze risk impact and the areas for control improvement.
• Manage and continue to improve the risk and control environment as it relates to BSA / AML and OFAC. Review and challenge, on the effective design and management of controls to mitigate risks, including implementation and operation, conducting the control monitoring, handling deficiencies, and escalating issues for resolution.
• Additionally, responsible for coordination for programs within other various risk stripes and ensure sufficient subject matter expertise exists to enable management of these risks within the Business (. compliance, fraud,
• Acts as the SME for risk assessment to stakeholders and / or other team members. Provide guidance, training and support, as needed to ensure effective execution of risk assessment programs and activities.
• Develop excellent stakeholder relationships across First Line of Defense teams and Second Line of Defense teams.
• Assess the risks associated with thematic, emerging and event driven activities and changes to the Business, ensuring these are well understood and adequately risk assessed and controlled. Support ongoing governance materials and presentations to inform key stakeholders of emerging risks.
• Apply knowledge of the business, products or services to preform risk assessments and to identify and implement processes & control throughout the business. Apply what-if analysis and demonstrate ability to develop and implement strategy and process improvement initiatives.
• Accountable for the quality, completeness, and accuracy of the risk assessments.
• Partners with cross function stakeholders to administer, track, follow up and complete tasks related to the risk assessment process.
• Review data and conduct trend analysis that will support the risk assessment.
• Ensure the identification of root causes, partnering with control and process owners to recommend holistic corrective actions and improvements, provide check and challenge to ensure appropriate escalation in according with relevant Policies
• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the bank, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
• Prepare status updates, reports, and / or presentation decks for various meetings, ensuring concise and impactful communication of key insights and data.
• Continuous monitoring and keeping abreast of new BSA / AML and OFAC regulations / trends and other changes in the industry environment;
• Periodically refresh risk assessment documents; identify and resolve how such changes affects the Bank’s BSA program for consistency and gaps relative to changes in regulations. Assess Risk Appetite and monitor / assess exposures against this in accordance with Policy.
• Handle other responsibilities and provide support, as required.

Qualifications

Compensation

The base pay range for this position is USD $150,000.00 / Yr. - USD $175,000.00 / Yr. Exact offers will be determined based on job-related knowledge, skills, experience, and location.

East West Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other legally protected status. Reasonable accommodations for disability are provided to applicants and employees in accordance with applicable law.

Salary : $150,000 - $175,000