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Financial Crimes Systems & Analytics Officer (Remote Eligible)

Company: Busey
Location: Naperville
Posted on: June 17, 2022

Job Description:

WHAT YOU'LL DOThe Financial Crimes Risk Management (FCRM) Department's Financial Crimes Systems and Analytics Officer (Officer) must have a high-level of expertise within the systems and analytics field as well as Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) compliance, economic sanctions, and other related financial crimes laws and regulations, directives, guidance, and best practices.This Officer supports all aspects of Busey's AML transaction monitoring, customer risk rating, and OFAC screening systems, including qualitative and quantitative methods to tune and optimize these systems. This Officer anticipates and understands business, industry and regulatory expectations and implements best practices the FCRM Department's AML transaction monitoring, customer risk rating and OFAC screening program. This Officer works closely with vendors and technologies utilized for AML transaction monitoring, customer risk rating, OFAC screening, and other related technologies. This Officer will also assist, where applicable, with fraud detection strategies and effectiveness, execution of the enterprise-wide BSA/AML and OFAC risk assessment, and other projects.
Finally, this Officer must have an innovative and risk-based mindset, while also having the ability to work collaboratively with other FCRM Department managers and team members to influence change.Duties & Responsibilities:

  • Shape the AML transaction monitoring, customer risk rating, OFAC screening, and tuning methodology processes
  • Think strategically and 'in the gray' to generate solutions and ideas to fully leverage available tools, evolve the FCRM Program, protect the bank from reputational risk and safeguard the customer base against financial crimes
  • Ensure the AML transaction monitoring, customer risk rating, and OFAC screening systems are well-positioned to evolve with the FCRM Program
  • Oversee and direct the ongoing evaluation and ensure developmental evidence supporting the reasonableness of system logic
  • Work closely with vendors/technologies utilized for AML transaction monitoring, customer risk rating, OFAC screening, and other related technologies
  • Conduct quantitative and qualitative testing of AML, customer risk rating, and OFAC models in a manner that can be applied consistently and effectively repeated for model tuning, where applicable, for risk identification and mitigation
  • Lead and support ad-hoc and project-related data analysis requests to help identify information related to audit/regulatory/reporting requests, and/or supporting identification or data required for the AML transaction monitoring, customer risk rating, risk assessments and OFAC systems
  • Lead testing and maintain data requirements and support peer code reviews/testing
  • Lead and support documentation of key technology processes and documentation related to AML, customer risk rating and OFAC systems
  • Lead and support data mapping and analysis of data for key AML and OFAC decisions and solutions
  • Data analysis and reporting on transactions (i.e. missing unmapped, incorrectly mapped, etc.)
  • Support execution of ongoing BSA/AML, OFAC, and other financial crimes related reporting and metrics
  • Development of desktop forms and application for execution of key BSA/AML and OFAC processes
  • Assist, where applicable, with fraud detection strategies and effectiveness
  • Stay current with AML and OFAC related technology trends, including methodologies, statistical and analytical techniques and trends related to model management and development
  • Liaise with the banks' model risk management team
  • Assist with other projects related to the BSA/AML program
  • 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 changesWHAT YOU'LL BRINGKnowledge 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 skillsAbility 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 managementWHY IT MATTERSWith 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 creative are in need more than ever. The Financial Crimes Systems and Analytics team is critical for the BSA/AML department. Having a proactive and risk-based 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 also be a partner to Busey's business lines and key to their success and the success of Busey.EDUCATION & TRAINING
        • Bachelor's degree in the Business or Quantitative subject field (e.g., Economics, Mathematics, Statistics, Actuarial Science, Computer Science, Finance) required
        • Graduate degree, in a similar field(s) as the above, preferred
        • 3+ years experience in a senior position and/or leading teams focused on AML systems and analytics required. A combination of this experience, as well as, OFAC screening systems, customer risk rating systems, fraud systems, or other similar experience, is preferred
        • 5+ years experience in banking, compliance, or risk management in financial services is required
        • Professional certification (e.g., CAMS, CFE, etc.) preferred 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.

Keywords: Busey, Naperville , Financial Crimes Systems & Analytics Officer (Remote Eligible), Accounting, Auditing , Naperville, Illinois

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