Head of Financial Intelligence Unit

Company Description

For more than 70 years, IDB Bank has made it our mission to be the best bank for our clients by putting their needs first, and the success we’ve enjoyed fundamentally comes down to our people. Here at IDB, you’ll work side by side with some of the most talented professionals in the industry who share a strong sense of teamwork and a passion for providing exceptional service down to the smallest detail. We offer a comprehensive benefits package that includes generous paid time off and the ability to participate in our medical coverage and 401(k) plan on your very first day with us. We are also committed to diversity and inclusion, and to providing all of our team members with an equal opportunity to succeed and make meaningful contributions within a work environment that is respectful, welcoming and inclusive.

Job Description

Based in New York, the Head of Financial Intelligence Unit (FIU) Investigations is responsible for managing a team of AML/CFT and fraud investigators in monitoring, identifying, analyzing and investigating financial transactions involving the Bank’s customers in order to help minimize the Bank’s associated risks while preparing and reporting effective and thorough Suspicious Activity Reports (SARs) with FinCEN in a timely manner.

The Head of FIU serves as a member of the Compliance Department’s management team.  The Head of FIU also serves as a voting member of the SAR Committee.

Primary responsibilities include:

• Develop and implement the strategic vision and objectives of the FIU in alignment with the organization’s goals.
• Provide leadership and guidance to the FIU team, ensuring effective collaboration and coordination of efforts.
• Establish and enforce policies, procedures, and best practices to ensure compliance with relevant laws, regulators, and industry standards. 
• Serve as a subject matter expert on investigations, suspicious activity reports (SARs), Currency Transaction Reports (CTRs), and alert management in discussions with senior management, regulatory authorities, and external stakeholders.
• Oversee the investigation and analysis of suspicious financial activities, transactions, and patterns as well as associated regulatory reporting (SARs, CTRs, etc.)
• Develop and implement risk mitigation strategies to minimize exposure to financial crime risks.
• Coordinate with internal and external stakeholders, including law enforcement agencies and regulatory bodies, to gather and analyze intelligence related to financial crimes.
• Prepare and present regular reports on the FIU’s activities, findings, and recommendations to senior management and relevant stakeholders.
• Develop and deliver training programs to ensure in depth understanding of financial crime risks among FIU staff.
• Promote a culture of compliance and ethical conduct throughout the organization.
• Collaborate with cross-functional teams, including compliance, legal, risk management, and IT to advance the FIUs strategic goals.
• Establish and maintain strong relationships with FCC management team, internal audit, and compliance monitoring and testing, fostering open communication and ensuring compliance with evolving regulations.
• Keep abreast of changes in regulatory requirements and evolving trends in financial crime to adapt the organization’s practices accordingly.
• Maintain proficient knowledge of the rules and regulations, including but not limited to, the Bank Secrecy Act (BSA), USA PATRIOT Act, FFIEC Manual, and evolving banking landscape.

#LI-Hybrid

Qualifications

The individual must have a solid knowledge and experience related to Compliance governance and change management, banking transactions, AML investigative processes and AML reporting requirements within the financial services industry. An Associates or Bachelor’s degree or equivalent work experience is required. The individual must be able to communicate effectively up to management and down through the FIU team both orally and in writing. The individual must possess strong analytical skills; excellent follow through and attention to detail, consistent sound judgment, strong organizational skills and excellent time management. Individuals must be able to work independently and with minimal supervision while performing multiple tasks and meeting challenging deadlines.  Excellent working knowledge of MS Word and Excel.

Desired Qualifications

• Extensive experience (7 years) in financial crimes compliance, anti-money laundering (AML), and/or counter-terrorist financing (CFT) roles;
• Bachelor’s degree in finance, Accounting, Business Administration, or a related field
• Professional certifications such as CAMS (Certified Anti-Money Laundering Specialist) or CFCS (Certified Financial Crime Specialist), or CFE (Certified Fraud Examiner), preferred.
• Experience with Actimize a plus;
• Experience with Microsoft Office suite;
• In-depth knowledge and experience with the US PATRIOT Act, BSA Act and the FFIEC AML manual;
• Ability to excel in a remote, innovative, and fast-paced environment;
• Excellent communication and interpersonal skills to engage with internal teams, regulators and external stakeholder; 
• Strong communication and presentation skills with the ability to convey complex ideas in a clear, concise manner to senior leaders

Compensation:

The expected annual salary for this position is between $180,000 - $215,000 at the start of employment. A salary offer is determined on an individualized basis, taking into consideration factors such as an individual’s skills and experience. In addition to base salary, our total rewards package also includes eligibility for an annual bonus, medical, pharmacy, dental, and vision plans, life and disability insurance, employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement.

Additional Information

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

All your information will be kept confidential according to EEO guidelines.

The Bank will make reasonable accommodations to the following employees to allow them to perform the essential functions of their position, except where doing so would result in undue hardship to the Bank:

• Those with a known mental or physical disability.
• Pregnant individuals and/or individuals with pregnancy or childbirth-related medical conditions.
• Victims of domestic violence, sex offenses or stalking.
• Employees with religious observance and practice obligations.

Any employee who believes he or she needs an accommodation for any of the above reasons should contact their supervisor or a member of Human Resources to request such an accommodation. In each case, the Bank will engage in a good faith written or oral dialogue concerning the individual’s accommodation needs; potential accommodations that may address the individual’s accommodation needs, including alternatives to a requested accommodation; and the difficulties that such potential accommodations may pose for the employer.

The Bank retains the ultimate discretion to choose the appropriate reasonable accommodation. Upon reaching a final determination at the conclusion of the cooperative dialogue, the Bank will provide the requesting individual with a written final determination identifying any accommodation granted or denied. In addition, the Bank will maintain any information regarding the employee’s request and status in the strictest confidence, except as requested by the employee, as required on a need-to-know basis or as otherwise required by law.

We are operating on a Hybrid schedule.

NO AGENCIES PLEASE.

IDB BANK, INCLUDING ITS SUBSIDIARIES AND DIVISIONS, PROVIDES EQUAL EMPLOYMENT OPPORTUNITIES TO ALL EMPLOYEES AND APPLICANTS FOR EMPLOYMENT WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, NATIONAL ORIGIN, AGE, DISABILITY, GENETIC STATUS, CITIZENSHIP STATUS, MARITAL STATUS, MILITARY OR VETERAN STATUS, CURRENT UNEMPLOYMENT OR ANY OTHER LEGALLY PROTECTED CATEGORY IN ACCORDANCE WITH APPLICABLE FEDERAL, STATE AND LOCAL LAW. NOTHING IN THIS SITE CONSTITUTES A PROMISE OR OFFER OF EMPLOYMENT.

IDB BANK, INCLUDING ITS SUBSIDIARIES AND DIVISIONS, PROVIDES EQUAL EMPLOYMENT OPPORTUNITIES TO ALL EMPLOYEES AND APPLICANTS FOR EMPLOYMENT WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, NATIONAL ORIGIN, AGE, DISABILITY, GENETIC STATUS, CITIZENSHIP STATUS, MARITAL STATUS, MILITARY OR VETERAN STATUS, CURRENT UNEMPLOYMENT OR ANY OTHER LEGALLY PROTECTED CATEGORY IN ACCORDANCE WITH APPLICABLE FEDERAL, STATE AND LOCAL LAW. NOTHING IN THIS SITE CONSTITUTES A PROMISE OR OFFER OF EMPLOYMENT.