The SAR Inspection & Repair Manager position will be part of the CCB Fraud, Compliance Operations & Investigations Unit, responsible for reviewing Suspicious Activity Report (SAR) filing submissions to ensure accuracy, completeness and compliance with regulatory, audit and policy requirements. The successful candidate will be integral in maintaining a comprehensive Inspection & Repair (I&R) program that drives strategic activities; promoting systematic quality improvements, generating organizational change, and ensuring best in class communication and regulatory compliance.
The incumbent has strong independent responsibility and demonstrates compliance knowledge in working with SARs. This position requires strong leadership, prioritization skills, and a willingness to tackle new and difficult challenges. In addition, this candidate must have a strong banking system and Regulatory knowledge.
This position requires the individual to exercise sound judgment, the ability to interface effectively with a diverse multi-disciplinary team, as well as the aptitude in coordinating, working with and gaining the trust of business stakeholders.
This individual is responsible for leading a team that reviews, evaluates, and approves SARs. The team will work closely with SAR filing teams to ensure that FCOI’s overall SAR filing process complies with all regulatory, internal/external audit, policy and procedural requirements, develop controls for identifying issues, monitoring, and record keeping pertaining to SARs.
With minimal oversight, makes sound decisions, consulting with management on more complex issues ensuring accurate high quality reports are filed. Monitors processes to ensure that SAR filings are completed within the federal regulatory time. Acts as a mentor and subject matter expert to more junior peers. Position involves access to highly sensitive and confidential information.
The I&R team is responsible for analyzing individual Suspicious Activity Reports (SARs) and making the final approval for submission to FinCEN. Independently conducts reviews of all Suspicious Activity Reports (SARs) completed by FCOI regarding internal and external investigations prior to the submission of the SARs to FINCEN. Duties include reviewing case documentation including: financial profiles, tracing financial transactions, and background information on suspects. Ensuring that key data and issues related to the investigation are documented and critical regulatory reporting decisions are complete in an accurate and timely manner. Ensuring Investigators adhere to Board-approved policy framework as well as Enterprise-wide standards and guidance.
The incumbent will assist in developing metrics and key performance indicators pertaining to the SAR filing process; assist in the development and evolution of SAR related IT systems, perform reviews on SARs deemed deficient and reconcile differences between I/R reviewers and SAR filing teams.
The SAR I/R Manager will ensure issues are properly documented, and provide constructive feedback to FCOI investigative teams; monitor the team’s process to ensure SARs are filed within the federal regulatory timeframe and assist in developing periodic reports for management and business stakeholders.
- 10+ years experience in litigation/disputes consulting firm and/or financial services industry or regulatory environment
- Extensive knowledge in Bank Secrecy Act and USA Patriot Act regulations and requirements
- Bachelor’s degree in Business, Accounting, Finance, Criminal Justice, English or a related discipline required, an advanced degree and/or industry certification (e.g. CFE , CAMS, etc.) preferred
- Strong analytical skills and attention to detail
- Excellent oral and written communication skills
- Progressive experience leading teams and managing projects
- Experience in filing Suspicious Activity Reports (SARs)
- Previous experience with internal applications such as Customer Assist or IVault a plus
- Industry knowledge
- Issue resolution
- Organizational skills
- Attention to detail
- Problem solving
- MS Office Skills