SVB- Enhanced Due Diligence Analyst

Overview

This is a hybrid role that may only be hired in the following locations:
North Carolina, Arizona, Texas or Chicago

SVB’s First Line of Defense Enhanced Due Diligence Know Your Customer ("EDD KYC") team is responsible for conducting enhanced due diligence on client segments that may pose a higher risk for money laundering, terrorist financing, sanctions, or reputation risk in support of all legal and regulatory requirements as a large financial institution. You will be tasked with leading enhanced due diligence reviews of prospective and existing clients, ensuring that they are compliant with FCBs enhanced due diligence requirements.

You will be the identified expert on relevant higher risk segment BSA/AML compliance for the FCB Commercial Bank by the relationship team and clients. You will engage with peers and risk professionals, all levels of management, and other internal or external constituents to deliver comprehensive views on EDD matters and represent the reasoning of EDD disposition on behalf of the organization.

• Perform thorough EDD reviews on new and existing clients engaged in higher risk business models including Money Service Businesses (MSBs), Third-Party Payment Processors Loan or Finance Companies, and other Non-Bank Financial Institutions, ensuring compliance with regulatory requirements and internal policies. Conduct in-depth analysis of client profiles, business activities and ownership structures to assess money laundering, terrorist financing and other financial crime risks.
  
  Review and verify client documentation including identification documents, business licenses, financial statements, and transaction records to ensure accuracy and completeness of KYC information. Assist clients and prospects in establishing the proper control environment to ensure compliance with the Bank’s requirements.
• Serve as subject matter expert and ensure compliance with regulatory requirements, industry standards and best practices related to EDD, KYC, BSA, Sanctions and AML regulations. Document and maintain accurate records of due diligence reviews, including findings, decisions, and supporting documentation in accordance with internal policies and regulatory standards. Partner with Compliance, Internal Audit, and other departments to respond to examinations and audit requests, manage execution and implementation of action plans, and ensure all processes and changes implemented fully comply with applicable regulations and legislation, standards, policies, and guidelines.
• Assist with identifying and managing existing and emerging risks identified through reviews. Conduct assessments and profiling of prospects and clients through the EDD process based on their risk factors including business type and any applicable geographical risks. Identify and communicate opportunities to automate/streamline quality and risk management efforts.
• Collaborate with cross-functional teams to share insights, provide support and guidance on policies, procedures and best practices, promoting a culture of compliance.

Bachelor's Degree and 2 years of Payments experience in Financial Services, First Line Risk, Enterprise Risk, AML/Sanctions Risk or Operational Risk OR High School Diploma or GED and 6 years of experience

Preferred Qualifications:

• Experience in FLOD KYC/Compliance/Risk role reviewing financial technology (Fintech) or Banking as a Service (BaaS) relationships at a Large Financial Institution (LFI)
• Demonstrate strong understanding of Anti-Money Laundering risk related to payments and Fin Tech business models including, payment processors, loan or finance companies, and other NBFIs.
• Demonstrate knowledge of international and regional financial crimes risks, to include but not limited to Anti-Money Laundering, Counter Terrorism Financing risks, fraud, and the prevention and mitigation processes and controls.
• Understanding of the compliance and regulatory frameworks that apply to financial institutions with an emphasis on FinCEN regulations, FFIEC guidelines, Bank Secrecy Act and US PATRIOT ACT.
• Ability to assess compliance programs, processes, controls.
• Ability to work…