Associate Director or Director, BSA/AML Risk and Strategy

At First Republic, we care about our people. We offer extraordinary client service in private banking, private business banking, and private wealth management. Founded in 1985, we believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued at First Republic.    Incredible teams doing exceptional work, every day. The Financial Crimes Risk Management group consists of anti-money laundering, economic sanctions, foreign corruption, fraud, and corporate security.  Our program is designed to ensure protection of our clients, the U. S. financial system, and our country from illicit actors who exploit banking services with nefarious and criminal intent.  Our fraud group protects our clients and Bank from losses while the Bank’s physical security team protects our clients, visitors, employees and Bank’s monetary and physical assets.

Qualifications:

You could be a great fit if you have: - Minimum of seven years in banking experience - Minimum of five years in direct BSA/AML experience - Comprehensive knowledge and understanding of deposit and lending products and services, including commercial banking, private equity, marine, entertainment industry, cash vault, and remote deposit capture - Comprehensive knowledge with Private Wealth Management products and services such as broker-dealers, investment management, trust and foreign exchange is highly preferred - Strong working knowledge of the laws and regulations applicable to money laundering, including the BSA, USA PATRIOT Act, and OFAC requirements, and Suspicious Activity Reporting requirements - Bachelor’s degree or higher - Outstanding written and verbal communication skills - Strong analytical and problem-solving skills - Excellent skills in preparing executive level presentations - Proficient in Microsoft Office programs, including Excel, Word, and Outlook - Attentive to detail, adaptability, and flexibility - Proficient in qualitative and quantitative research methodologies for assessing inherent risk, control effectiveness, and residual risk - Punctuality as well as the ability and drive to complete tasks on time - Independently takes initiatives with minimum request and direction, be a self-starter, and have strong organizational skills - Ability to multi-task and successfully respond to multiple priorities - Team player and furthers First Republic Bank (FRB)’s culture and values - Understanding of various FRB’s systems and data is highly preferred. Job Demands: - Must be able to review and analyze data reports and manuals; must be computer proficient. - Must be able to communicate effectively via telephone and in person. Own your work and your career - apply now Are you willing to take initiative and make decisions?  Are you willing to go the extra mile because you love what you do and how you can contribute as a team?   Do you want the freedom to grow and the opportunity to take charge of your own career?  If so, then come join us.      We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability—that’s the First Republic way. Come join us!      This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned to meet the ongoing needs of the organization.  The Company is an equal opportunity employer.  In this regard, the Company makes reasonable accommodations for qualified applicants and employees with disabilities in order to enable them to perform all essential job functions, unless doing so creates an undue hardship.   First Republic is subject to federal laws that restrict the employment of individuals with certain types of criminal histories, including FDIA Section 19 and FINRA. To the extent not inconsistent with our obligations under those federal laws and regulations, First Republic will consider qualified candidates with criminal histories in a manner consistent with the Los Angeles and San Francisco ban-the-box laws.   © First Republic Bank; 111 Pine Street; San Francisco, CA 94111; USA

Responsibilities:

Reporting to the Vice President, Risk & Strategy, the Associate Director or Director of AML Risk & Strategy assists in the development, implementation, and presentation of AML risk assessments, as well as customer risk rating (CRR) and transaction monitoring coverage assessments. This position is responsible for supporting the BSA/AML compliance framework by conducting risk assessment and targeted analysis to determine BSA/AML related risk exposures/impacts and further to assist in identification of mitigating controls and monitoring strategy.  Furthermore, the individual will provide support to BSA/AML Policy and Program Office (PPO) and assist with various initiatives, including but not limited to responsibilities listed below. What you'll do as an Associate Director or Director of BSA/AML Risk and Strategy:   - Provide support to Anti-money Laundering Business Rule Standards Committee (AMBRS) and other assigned meetings/committee by preparing/reviewing meeting materials and packages. - Conduct targeted customers as well as product and service risk analysis, which includes the following a) conducting interviews with line of business representatives to understand risks associated with various products and services, b) evaluating control effectiveness based on current policies and procedures, systems, and processes and recommending enhancements for risk mitigation, and c) produce a comprehensive document for stakeholders. - Conduct enterprise and targeted BSA/AML risk assessments, which includes the following: a) conducting interviews with line of business representatives to understand risks and controls associated with customers, various products and services, business strategy, and system initiatives; b) defining parameters and risk attributes for data collection; c) conducting analysis with collected data and other information to quantify inherent risks and risk exposures; d) performing control effectiveness review to assess the adequacy of the control environment to mitigate risks and to identify any control gaps/enhancement opportunities; e) socializing and presenting findings/results to LOBs; and e) producing comprehensive final written product capturing the risk analysis, control effectiveness assessment, and direction of risk as well as an executive-level reporting to be consumed by BSA/AML and the lines of business. - Provide risk-focused analytic support for department initiatives including transaction monitoring strategies, customer risk rating model, geographic risk rating list, NAICS code list, etc. - Perform duties and responsibilities specific to department functions & activities as required or assigned by supervisor. - Critical features of this job are described under the items above. They may be subject to change at any time due to reasonable accommodation or other reasons. This job description reflects management’s assignment of essential functions; it does not prescribe or restrict the tasks that may be assigned. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.