Legal & Compliance Department-L3 Suspicious Activity Reporting; SAR) Associate

Introduction

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

The L3 QC Associate is responsible for (but not limited to) SAR review and determination, SAR Filing, SAR related administrative duties, quality control for SAR and DNF (Reasonable) determinations. The L3 QC Analyst (AVP) is also responsible for assisting other tasks, which may include assisting with Currency Transaction Reports(“CTR”), system testing (UAT) and/or various anti-money laundering (AML) initiatives; communication of apparent anomalies and prioritizing investigative work to ensure all deadlines are met.

Understand and adheres to both the letter and the spirit of all laws, regulations and regulatory guidance that apply to the role.

Include but not limited to:

• L3 QC Analyst (Associate / AVP) are primarily responsible for performing QC on cases referred from the L2 - Financial Investigation Unit (FIU) Team, other LCD teams and or other departments within the bank.
• Confirmation and review of historical lookback transactions to ensure all necessary transactions are reported accordingly
• Review “No Activity” reports and ensure that there is no continuing activity
• Prepare additional RFI inquiry form (or SWIFT RFI) and data associated with sending/receiving communication to/from BOC USA Branches, overseas BOC Branches and/or external party (e.g. correspondent banks)
• Make final determination on the case disposition and prepare the necessary corresponding document
• Complete the SAR Form, as applicable, and prepare the SAR Narrative
• Complete the DNF Memo, as applicable, and prepare the supporting memo to mitigate all identified risks
• Complete review of CTR, as applicable, and prepare the form for regulatory filing
• Contribute to the monitoring, gathering and preparation of data/statistics regarding daily progression, QA and productivity etc. in order to properly monitor team’s work output and quality
• Respond to EET/LGO requests for documents relating to subpoenas
• Review and respond to CMTG or IAD concerns
• File SARs and/or CTRs with FinCEN in a timely manner
• Identify, mitigate and report issues during the process of BAU work.
• Follow up on issues (if any) and resolve them accordingly, with the guidance and assistance of Head of SAR or Deputy Head of SAR as required
• Provide/participate/develop training, feedback and assistance to L2 analyst in order to enhance risk identification and case review skillset among other related guidance to case review and disposition

• Provide SME Execution for the enhancement of Transaction Monitoring System (TMS) operations, process, policies and procedures
• Assist with developing, implementing and or advising on a risk-based compliance monitoring program that includes new scenarios, workflows, risk-based operations, reporting mechanism, training development and others
• Support enhancement and validation of TMS scenarios, investigation, reporting, CRR models, etc. as applicable
• Provide advisory services to business lines, which includes but is not limited to customer risk rating/determination, PEP identification, transaction monitoring and regulatory reporting obligations
• Serve as a liaison to different stakeholders and partners with respect to projects and other initiatives impacting the SAR team (Level
  3) program or transaction monitoring in general

• Assist SAM SMEs on BSA/AML regulatory requirements and concerns
• Escalate and report suspicious activity pursuant to regulatory obligations
• Monitor AML/BSA industry developments, including red flags and best practices, and maintains advanced knowledge of new and amended laws and regulations impacting the bank, and ensures processes are in place to keep the…