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 BSA Officer is responsible for implementing and administrating all aspects of the Bank’s compliance program pertaining to the Bank Secrecy Act (“BSA”), USA Patriot Act, Anti-Money Laundering (“AML”) Act, Counter-Terrorism Financing (“CTF”), Office of Foreign Assets Control (“OFAC”) and other sanctions compliance. This responsibility ensures that the Branch’s compliance efforts are maintained in accordance with laws and regulations, industry standard, regulatory guidance, and internal policies/procedures on a daily basis. The incumbent plays a vital role for managing the Branch’s risks related to BSA/AML/CTF/OFAC sanctions and other illicit financial activities, while aligning with the Bank’s BSA/AML Compliance Program, Sanctions Compliance Policy and Program, Risk Governance Framework and underlying regulatory requirements. Additionally, the incumbent assists the Chief BSA Officer and Lead of FLU BSA and Compliance Oversight, and Branch Manager to ensure the effective operation of the compliance program

Implement BSA/AML/OFAC Compliance Program in Front Line Unit

• Manage the QNB’s day-to-day adherence to the BSA/AML/CTF/OFAC Sanctions and their implementing regulations, as well as internal policies and procedures.
• Provide subject matter expertise to guide QNB in establishing risk-mitigating controls commensurate with the branch’s BSA/AML/CTF/OFAC Sanctions and other illicit financial activity risk profiles, while maintaining independence.
• Maintain, update and communicate branch-level compliance procedures or compliance operational guidance as necessary to ensure the processes and practices conform to the Bank and branch’s unique money laundering, terrorist financing and other illicit financial activity risk profile.
• Maintain open communications with branch staff by keeping them informed of regulatory updates, changes in internal policies and procedures, and others emerging compliance risks. Deliver compliance related training to staff tailored to the business units’ BSA/AML/CTF/OFAC Sanctions risks, and staff members’ specific functions roles or responsibilities.
• Collaborate with business units to develop appropriate corrective actions addressing internal/external findings and compliance related issues/observations/exceptions/recommendations, ensuring timely resolution by projected target dates.
• Regularly update LCD Management and senior management on ongoing compliance with BSA/AML/CTF, and OFAC, and other sanctions regulations.
• Promptly refer/escalate compliance issues as necessary to relevant LCD Teams, Chief BSA Officers, and other LCD Management.
• Proactively support the regulatory change management processes impacting the branch, conduct impact analysis while taking into consideration of the Bank and branch’s risk profile (e.g., products, services, customers, and geographic locations, delivery channels etc.). Enhance process and controls based on the new regulatory updates and address emerging risk indictors or red flags.
• Proactively support the compliance efforts and initiatives; participate in the new product/activity risk assessment processes aligning with the Bank and QNB’s risk profile. Proactively participate in change management process relating to compliance technology/system implementations, and other initiatives.
• Partner with staff in charge of vendor relationship management to ensure adequate third-party risk management from compliance risk perspective throughout the third-party relationship lifecycle.

Account Review and Transaction Monitoring, Reporting

• SDB (Safe Deposit Box) activities hitting red flags review.
• Remittance transactions Travel rule review.
• Foreign currency exchange activities transactions and foreign check collection review.
• Monetary instrument review.
• Currency Transaction Report review.
• Oversight on new account review of first 90 days account’s activities after account opening.
• Other types of activities review.
• Prepare, review and report compliance related metrics to management and respective second lines, including a Monthly Compliance Review Summary reflecting the overall status of departmental compliance control, existing issues, impact analysis on the relevant regulatory developments, and provide any necessary suggestions for improving compliance risk controls.

Others 

• Provide support and compliance input in Bank-wide initiatives.

• Assist with Legal Subpoena, Summons, Tax Levy, restraining notice, 314(a) and 314(b) requests on behalf of QNB , and prepare relevant supporting documentation on a timely basis.

• Expand compliance knowledge to CRA and Consumer and Regulatory Compliance areas, and support QNB’s compliance program in these areas.

• Maintain adequate knowledge of applicable regulations, industry best practices and the branch’s products, services, customer base, geographic locations, and associated compliance risks.

• Maintain an open and transparent relationship with regulators.

• Possess appropriate authority, independence, access to suitable and adequate resources, and competence to effectively execute all duties, while supported by adequate staffing with the necessary skills and expertise. Have the ability to undertake the BSA Officer’s role independently without undue influence from the business line. 

• Take ad-hoc responsibilities upon the request from the Chief BSA Officer and/or Branch Manager.

• Bachelor's degree required; master's degree preferred
• Minimum 10 years of BSA/AML/CTF/OFAC and other sanctions compliance and risk management experience for VP level; Minimum 4 years of BSA/AML/CTF/OFAC and other sanctions compliance and risk management experience for AVP level
• Experience in CRA and Consumer and Regulatory Compliance preferred
• Experience in financial services required

• BSA or sanctions training and/or certificate.

• CAMS (Certified Anti-Money Laundering Specialist) credential.

• Comprehensive knowledge of U.S. banking regulations and compliance practices with strong emphasis on all aspects of BSA/AML/CTF/OFAC Sanctions Compliance.

• In-depth business line and process flow knowledge, and product knowledge.

• Risk management and handling legal subpoena, tax levy, restraining notices and financial/banking industry knowledge.

• Ability to build effective relationships with a proven record of establishing trust and credibility through strong interpersonal skills, communication, and actions.

• Ability to resolve challenging issues while maintaining a high degree of professionalism.

• Strong influencing skills, both internally within the CLD and externally.

• Dedication to integrity, producing high-quality results, and meeting deadlines.

• Ability to demonstrate ownership/accountability of issues through their resolution while providing sound guidance to others.

• Effective communication skills, both oral and written, with the ability to communicate clearly with constituents at all levels of the organization.

• Proficient in time management and sound decision-making under stressful situations, particularly when dealing with complex issues involving competing interests.