Senior Compliance Associate - Quality Assurance

Location:

The Senior Compliance Associate – Quality Assurance role reports to the bank’s Financial Crimes Governance CDD / EDD Quality Assurance Senior Compliance Officer.  The Senior Compliance Associate – Quality Assurance will work closely with the CDD / EDD Quality Assurance team ensuring Key’s compliance with Bank Secrecy Act and Anti-Money Laundering (BSA/AML) regulations, including Customer Identification Program (CIP), Know Your Customer (KYC), and Customer Due Diligence (CDD) / Enhanced Due Diligence (EDD) customer risks and mitigation tactics. 

This role will have a special focus and strong understanding of the risks involved with high risk customer types, such as sovereign wealth funds (SWFs), pooled investment vehicles (PIVs), private investment companies (PICs), money service businesses (MSBs), cash intensive businesses, casinos / gaming, third party payment processors (TPPPs), politically exposed persons (PEPs), non-governmental organizations (NGOs), and marijuana-related businesses, conducting Quality Assurance reviews of the EDD files maintained for these higher risk customer types, as well as Quality Assurance reviews of transaction monitoring alerts, case investigations, and/or other various AML work products. 

This role also requires solid working knowledge of BSA/AML, CIP, KYC, OFAC/Sanctions, and CDD Beneficial Ownership regulations and regulatory expectations.  In addition, beneficial for this role to have a solid working knowledge of complex business structures, financing, accounting / taxation, and foreign geopolitical risks.

The Senior Compliance Associate –  Quality Assurance is responsible for ensuring compliance of risk-based CDD / EDD with regard to AML high risk customers that may be required to maintain an AML Program, as well as evaluation and making decisions regarding relationship retention or exit of such customers.  Additionally responsibilities include ensuring compliance with transaction monitoring and Suspicious Activity Report filing requirements.  The successful candidate possesses strong analytical, communication, sound judgment, and leadership skills and may be called upon to assist in various initiatives that enhance upon the bank’s BSA/AML and OFAC/Sanctions compliance program.  The successful candidate will possess the ability to work independently, be a thought leader, execute upon strategies that mitigate BSA/AML and OFAC/Sanctions risks to the bank and quickly recognize issues that require escalation to Senior Management.

Essential Job Functions: 

The Senior Compliance Associate will be responsible for oversight and providing guidance to internal bank partners on the following:

·       Solid knowledge of BSA/AML, CIP, KYC, Suspicious Activity Report filing, and OFAC/Sanctions banking regulations, regulatory expectations, and risks, especially involving FFIEC Exam Manual high risk customer types.

·       Oversight of reviewing and ensuring Enhanced Due Diligence documentation files and disposition by the sponsoring Lines of Business and the AML Operations area are in line with regulatory expectations as well as Key’s policies and procedures.

·       Oversight of reviewing and ensuring transaction monitoring and case investigation documentation files and disposition are in line with regulatory expectations as well as Key’s policies and procedures.

·       Review of new or changing regulations impacting the bank from a high risk customer or transaction monitoring perspective.

·       Serves as source of subject matter compliance expertise with regarding various CIP, KYC, CDD / EDD risks, participating in resolving compliance issues and promoting effective and consistent management of compliance risks.

·       Help ensure lines of communication between the departments and business units/entities executing compliance requirements remain open and aligned with processes to gain efficiencies, avoid unnecessary redundancies, and coincide with business and customer risk profiles.

·       Work closely with AML and OFAC/Sanctions operations support areas to ensure compliance with BSA/AML, CIP, KYC, transaction monitoring, and OFAC/Sanctions requirements including onboarding, enhanced due diligence, and investigations reviews.

·       Participate as stakeholder or team member on projects/initiatives as warranted by scope.

·       Participate in new business initiatives, new product development, and product analysis.

·       Keeping management apprised and recognizing when to escalate issues as needed.

·       Promote a proactive compliance culture, delivering advice and guidance to the business/support functions.

Required Qualifications:

·       At least 3 – 5 years of BSA/AML banking compliance or regulatory experience.

·       Experience working with FFIEC Exam Manual high risk customer types, including conducting CIP, KYC, and CDD / EDD.

·       Experience with transaction monitoring and case investigations, including Suspicious Activity Report filing.

·       A Bachelor’s Degree is required, with advanced degree(s) desired

·       CAMS and/or ACFCS certification desired.

·       Excellent analytical and investigative skills.

·       Excellent writing skills and the ability to succinctly convey information to senior business and compliance management.

·       Exceptional ability to support multiple programs in a fast-paced environment with changing priorities and significant time pressures.

·       Exceptional ability to work across departments and business units/entities to ensure compliance requirements are understood and met.

·       Strong attention to detail.

·       High ethical standards.

COMPENSATION AND BENEFITS

This position is eligible to earn a base salary in the range of $72,000 to $85,000 annually depending on location and job-related factors such as level of experience. Compensation for this role also includes eligibility for short-term incentive compensation and deferred incentive compensation subject to individual and company performance.

Please click here for a list of benefits for which this position is eligible.

Key has implemented a role-based Mobile by Design approach to our employee workspaces, dedicating space to those whose roles require specific workspaces, while providing flexible options for roles which are less dependent on assigned workspaces and can be performed effectively in a mobile environment. As a result, this role may be Mobile or Home-based, which means you may work primarily either at a home office or in a Key facility to perform your job duties.

KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to building a diverse, equitable and inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other protected category.

Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.

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