First Line of Defense, Enhanced Due Diligence Analyst

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Job description

Overview:
This is a hybrid role, with the expectation that time working will regularly take place inside and outside of a company office.

SVB's First Line of Defense Enhanced Due Diligence Know Your Customer ("EDD KYC") team is responsible for conducting enhanced due diligence on higher risk 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. As a Cryptocurrency Enhanced Due Diligence Analyst, you will be a part of SVB's First Line of Defense EDD KYC Team tasked with ensuring that crypto-related clients within FCB are compliant with FCBs Risk Appetite, and any/all applicable regulations and guidelines. You will be the identified expert on Cryptocurrency BSA/AML compliance for the FCB Commercial Bank by the relationship team and clients. You will interact with peers and risk professionals, all levels of management, and other internal or external constituents to deliver comprehensive views on KYC matters and represent the reasoning of KYC disposition on behalf of your team. It will be critical for you to stay current with cryptocurrency developments, and policy changes, seek ways to enhance current processes and controls, and communicate with your peers and partners. This role is required to both execute and educate on the Cryptocurrency ecosystem; additionally, the role will build, develop, and improve processes, as well as coach those around you.

Responsibilities:

Enhanced Due Diligence Reviews - Perform through EDD reviews on new and existing clients engaged in the broader Crypto ecosystem, ensuring compliance with regulatory requirements and internal policies. Conduct in-depth analysis of client profiles, business activities & ownership structures to assess money laundering, terrorist financing and other financial crime risks. Review & verify client documentation including identification documents, business licenses, and completeness of KYC information. Assist clients and prospects in establishing the proper control environment to ensure compliance with the Bank's requirements.

Regulatory Compliance - Serve as SME and ensure compliance with regulatory requirements, industry standards, and best practices related to EDD, KYC, BSA, Sanctions & AML regulations surround the Crypto ecosystem. Document and maintain accurate records of due diligence reviews, including findings, decisions, and supporting documentation in accordance with internal policies & regulatory standards. Partner with compliance, Internal Audit, & other departments to respond to examinations and audit requests, manager execution and implementation of action plans, and ensure all processes and changes implemented fully comply with applicable regulations and legislation, standards, policies, & guidelines.

Risk Analysis - lead and champion efforts on identifying and managing existing and emerging risks identified through reviews, and ensuring these risks are effectively assessed, communicated, and controlled. Conduct assessments and profiling of clients based on their risk factors including business type, transaction volume and geographical location. Analyze client transactions and account activity to identify red flags indication of potential financial crimes or higher risk activities. Identify and communicates opportunities to automate/streamline quality and compliance efforts.

Reporting & Training - Develop and report risk tolerance metrics and provide ongoing reporting on high-risk sector pipeline to senior management. Communicate effectively with internal stakeholders, relationship managers and business units to address queries and resolve issues related to EDD. Provide expertise in assessing prelaunch or emerging business models to align with internal requirements for EDD and approval. Collaborate with cross-functional teams to share insights, provide support, training, and guidance on policies, procedures, and best practices, promoting a culture of compliance.

Qualifications:
Bachelor's Degree with a minimum of 4 years of experience OR High School Diploma or GED with a minimum of 8 years of experience

Required Area of Experience: Anti-Money Laundering, Fintech, banking, investment, risk management or audit experience

Preferred/Other Qualifications

Preferred Area of Study: Analytics, Finance, Legal, Criminal Justice

For NY the base pay for this position is relative to your experience but the range is generally $70,200.00 - $(phone number removed) per year.

Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

First Citizens benefits programs are designed to meet our associates where they are in life. Full-time associates (20+ hours) are offered a comprehensive benefits program, with customized offerings, including those designed to support families, however defined. More information regarding our benefits offerings can be found here

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