Sr. Risk Specialist BSA/AML

About the position

The Federal Reserve Bank of San Francisco is seeking an experienced Sr. Risk Specialist to join the Bank Secrecy Act (BSA) team within the Risk, Policy, and Analysis Group. This role is crucial in ensuring the safety and soundness of the banking system and financial markets. The Sr. Risk Specialist will perform examinations of banks and U.S. offices of foreign banks, as well as inspections of bank holding companies and their non-bank subsidiaries. The position requires a comprehensive understanding of BSA/AML regulations and the ability to prepare risk assessments while providing ongoing supervision related to Anti-Money Laundering (AML) issues. In this role, you will lead the planning, execution, and report writing for complex and high-risk targeted BSA examinations. You will also participate in full-scope examinations of state member banks, foreign banking organizations, and bank holding companies. Evaluating policies, procedures, and controls to ensure compliance with the BSA, USA Patriot Act, and Office of Foreign Asset Control (OFAC) will be a key responsibility. You will perform transaction testing to assess compliance with record-keeping and reporting requirements, as well as the effectiveness of risk management processes. The Sr. Risk Specialist will maintain a high level of subject matter expertise, keeping abreast of emerging issues relevant to the District, including trade-based money laundering, virtual currencies, and Fin-Tech payment channels. You will collaborate with risk management colleagues on cross-portfolio assessments of BSA/AML risk and make tailored supervisory recommendations. Additionally, you will prepare and deliver written analyses and presentations on firm-specific and broader industry trends or emerging risks, providing briefings to senior District and Federal Reserve System staff. Mentoring and on-the-job training for examiners will also be part of your responsibilities, along with active participation in unit and Fed System knowledge-sharing discussions.

Responsibilities
? Lead the planning, execution, and report writing for complex/high risk targeted BSA examinations.
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? Participate in full-scope examinations of state member banks, foreign banking organizations, and bank holding companies.
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? Evaluate policies, procedures, and controls for compliance with the BSA and USA Patriot Act.
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? Perform transaction testing to evaluate compliance with record keeping and reporting requirements.
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? Assess the technical expertise of AML staff and management, and the effectiveness of audits.
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? Prepare informative supervisory products and communicate findings to banks' senior management and boards of directors.
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? Maintain subject matter expertise on emerging issues relevant to the District.
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? Collaborate with risk management colleagues on cross-portfolio assessments of BSA/AML risk.
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? Prepare and deliver written analyses and presentations on industry trends or emerging risks.
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? Provide briefings to senior District and Federal Reserve System staff.
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? Present to industry groups as part of outreach efforts.
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? Provide mentoring and on-the-job training to examiners.
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? Participate in knowledge-sharing platform groups and discussions.

Requirements
? Typically requires a bachelor's degree in business, economics, finance, accounting, or a related field or equivalent experience.
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? Typically requires a minimum of eight or more years of direct or comparable banking, financial industry, or banking supervision experience with a focus in BSA/AML/OFAC subject areas.
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? Demonstrate a strong ability to influence effectively, resolve conflicts, and achieve collaborative outcomes.
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? Capacity to identify and pursue multiple initiatives simultaneously and deliver outstanding results with minimal or no supervision.
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? Strong written and communication skills in addition to an understanding of business risks, risk management, and banking principles.
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? Strong problem solving and analytical skills that support and enable sound decision-making.

Nice-to-haves
? Professional certification, such as the Certified Anti-Money Laundering Specialist (CAMS).
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? Experience performing BSA/AML and OFAC examination work at higher risk and/or complex banking organizations.

Benefits
? Medical
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? Dental
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? Vision
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? Pre-tax Flexible Spending Account
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? Backup Child Care Program
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? Pre-Tax Day Care Flexible Spending Account
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? Paid Family Care Leave
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? Vacation Days
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? Sick Days
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? Paid Holidays
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? Pet Insurance
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? Matching 401(k)
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? Retirement/Pension

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