Sr. Quality Control Analyst
The Sr. Quality Control Analyst assists in the administration of the Bank Secrecy Act compliance program, specifically ensuring work products related to due diligence, investigations, sanctions, and SARs are completed accurately according to industry standards and practices and assists with various assignments supporting Financial Crimes Risk Management (‘FCRM’), under the guidance of FCRM Senior Management. This position performs quality control reviews, daily monitoring, and reporting pertaining to the Bank Secrecy Act, USA PATRIOT Act, and Anti-Money Laundering Program compliance using industry standards and regulatory guidance to ensure the company’s compliance efforts are maintained. Advises the Quality Control Supervisor and other management of emerging trends and issues and assists the company in the establishment of controls to mitigate risks. The position of Quality Control Analyst is required to be fully knowledgeable and skilled in transaction monitoring and investigations.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Performs daily reviews of finished work products related to FCRM functions (alert assessments (transaction monitoring, fraud, watchlist management/sanctions), AML/Fraud case investigations and SAR forms, Due Diligence reviews) to ensure adherence to internal policies and procedures.
Utilizes understanding of BSA/AML regulatory rules, laws, regulations, and industry standards and practices to identify potential issues related to the quality of finished work products.
Perform routine monitoring to determine the extent of compliance with regulations, laws, policies, and procedures. Communicate the results of monitoring to department managers and senior management, follows-up to ensure issues are addressed, and escalate issues.
Maintain proficient knowledge of the rules and regulations, including but not limited to, the Bank Secrecy Act (BSA), USA PATRIOT Act, and OFAC
Train in various programs to further educate oneself in BSA-related compliance requirements and procedures
Provide input of monthly reports to keep management informed of department activities, such as Quality Control score analysis, Quality Control volume tracking, as well as other reports as assigned.
Complete reviews of various reports, applications, and platforms utilized by FCRM staff
Identify key issues and gaps in processes that impact quality, accuracy, and compliance and make recommendations for enhancement
Document findings and effectively communicate areas of needed improvement with FCRM Management
Ensure timely and accurate completion of all quality control reviews of SARs for timely filing
Perform other projects as assigned
Assist in the research of regulatory issues to compliance questions from Bank personnel, using legal and regulatory reference materials, and regulatory agencies, as appropriate
Assist in special projects and tasks for the department as directed
As warranted or directed, assist in the development, revision, or reviews of company policies, procedures, disclosures, notices, and forms to comply with legislative and regulatory changes or new requirements.
Assist with self-assessments as needed. May assist in the preparation and coordination of independent audits and regulatory examinations
Ability to deal with routine problems involving multiple facets, variables, and situations where only limited standardization exists
Maintain current knowledge of all federal and state laws and regulations, along with the company’s policies and procedures
Must adhere to the company’s core values of Challenge Convention, Do What’s Right, Take Ownership, Empower People, Exceed Expectations, and Cultivate Awesome all while keeping our “Why?” front of mind. Our Why? Silvergate is the banking platform for innovators, and we believe in the power of entrepreneurs to create prosperity for our communities.
Does not harm consumers through any act that could be misleading, unfair, deceptive, or abusive in act or practice
Requires continuous exercise of judgment following regulatory rules, laws, and regulations, industry standards, and practices
Identifies and selects complex choices of action where standard practices may not exist
Must be able to accommodate detailed work, problem-solving, reasoning, math, presentations, verbal communication, written communication, analytical reasoning, training others, multiple concurrent tasks, and constant interruptions.
At least 3+ years of BSA/AML experience in investigations, alert dispositioning, and account review processes, preferably within Industrial, Commercial, or Correspondent Banking.
At least 3+ years of general banking or regulatory agency experience, with an emphasis on compliance and/or operations
Knowledge of Bank administration, lending, and operations products and services; related state and federal laws and regulations, and other Bank operational policies and procedures.
College degree, or equivalent banking experience
Comprehensive understanding of general banking compliance regulations and laws
Comprehensive understanding of general banking operations activities, products, and services
Ability to proactively identify and assess potential concerns and risks
Solid understanding of Industrial, Commercial, or Correspondent Banking
Understanding of legislative and regulatory processes
Familiarity with all functional areas of banking
Excellent oral and written communication skills
Ability to resolve issues, work independently, and meet deadlines
Persuasive and team-oriented
Ability to communicate effectively with staff at all levels
Effective verbal, written, and interpersonal communication skills with the ability to instruct others, train personnel, write reports, correspondence, and procedures, and speak clearly to customers and employees.
Good business writing skills and proficiency in Microsoft Word and Excel
Good organizational and time management skills
BANK SECRECY ACT REQUIREMENTS:
Responsible for adhering to the reporting and recordkeeping requirements of the Bank Secrecy Act and Anti-Money Laundering rules and regulations, observing economic sanctions by prohibiting transactions as specified by the Office of Foreign Asset Control (OFAC), following the Company’s customer identification program (CIP) rules, observing all Company policies and procedures relating to BSA, OFAC, CIP, and related acts, and participation in ongoing related training.
While performing the duties of this job, the employee is:
Regularly required to talk or hear
Required to communicate with customers and coworkers verbally and in writing
Occasionally required to stand; walk
Occasionally required to lift up to 10 pounds
Required to sit for long periods and reach with hands and arms
Able to read documents, computer screens, reports, and other communications and have the ability to adjust focus and close vision.