Financial Crimes Manager

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GENERAL FUNCTION:

Facilitates the continued development and implementation of the Bancorp's Financial Crimes Compliance programs, including ensuring compliance with Federal laws and regulations and industry standards. Actively engaged and readily available to oversee the Bancorp's Financial Crimes programs.  Evaluates efficiency and effectiveness of existing programs, processes, and control within departmental operations and propose and implement solutions.

Responsible for developing and implementing controls commensurate with the financial crimes risks related to higher risk customer types, including money service businesses (MSBs), and providing ongoing support for these customers. This role involves collaboration with the first line of defense for identification of controls and coordination with key stakeholders and financial crimes leadership. The manager will also assist in the review and enhancement of LOB customer due diligence and customer risk rating methodology and scoring.  This manager may also be required to provide targeted AML and OFAC training to business unit staff and performing other assigned tasks related to the implementation and execution of the Bank’s Financial Crimes program. 

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank’s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Serves as a subject matter expert regarding customers that pose a high level of money laundering risk, including but not limited to money services businesses (MSBs) and perform complex vetting of prospects and changes in existing customer relationships;
• Responsible for the development, strengthening, and implementation of AML/CFT compliance program controls as they pertain to enhanced monitoring and oversight of these customer types;
• Initiates and facilitates collaborative alliances with line of business management, and corporate partners to ensure line of business compliance program is adequately managed.
• Communicates significant issues to senior management.
• Oversees evaluations of line of business compliance processes and procedure effectiveness across affiliates.
• Identifies opportunities, establishes action plans, and drives solutions to continuously improve the compliance program, and increase efficiency.
• Liaisons with regulators as appropriate.
• Partners with communications and training department to develop awareness, training, and continuing education as it relates to specific laws and regulations.
• Provides leadership and coaching to ensure optimum team and individual performance in support of department, division, and Bancorp goals.
• Builds industry relations through industry networking.
• Maintains awareness of division goals, regulatory developments, and industry trends.
• Assumes additional responsibilities and leads special projects as assigned.
• Analyzes data by numerous delivery channels, geographic area, product types, facility, and even employee or officer to identify risks and develop and recommend scope or target for the review, corrective action/or performance gap closure. Develops and executes strategies for closing gaps in performance.
• Assess the adequacy of the business units'/affiliates recommended corrective action to the issues or gaps identified.
• Develop and report findings to Senior Management regarding their business lines (Legal, Audit, and Senior level Operating Committees).
• Works with Sr. leadership to set strategic direction for department and executes on those goals and objectives.
• Participates and/or leads meetings with peers to build and maintain knowledge of current and emerging issues and risk in the environment.
• Contribute updates to the risk assessment.

BANK SECRECY ACT REQUIREMENTS:

• Responsible for adhering to the reporting and record keeping requirements of the Bank Secrecy Act and Anti-Money Laundering rules and regulations, observing economic sanctions by prohibiting transactions as specified by the Office of Foreign Asset Control (OFAC), following the bank’s customer identification program (CIP) rules, observing all Bank policies and procedures relating to BSA, OFAC, CIP, and related acts, and participation in ongoing related training.

SUPERVISORY RESPONSIBILITIES:

Responsible for providing employees timely, candid and constructive performance feedback; developing employees to their fullest potential and provide challenging opportunities that enhance employee career growth; developing the appropriate talent pool to ensure adequate bench strength and succession planning; recognizing and rewarding employees for accomplishments.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

• Bachelor's degree or equivalent work experience required.
• Six to eight years of related work experience, preferably with a BSA/AML compliance department, internal audit, regulated FinTech, or regulatory agency.  CAMS certification a plus. 
• Demonstrates working or functional proficiency sufficient to apply the use of software applications (Microsoft Office Suite) without assistance and minimal supervision.
• Able to Understand and conceptualize basic statistical analysis and theories. Solid experience in manipulating (validating, correcting, reformatting, and transforming) data into more than one format, (e.g. spreadsheets, flat files, databases, etc.).
• Strong analytical skills required to gather, assesses and present quantitative and qualitative data.
• Able to Develop and Support conclusions and make practical recommendations to the business Lines and/or Affiliates. Ability to Develop and implement controlled, systematic step-by-step processes based on guidance and procedures.
• Ability to work independently and in a team to Plan and accomplish a project or elements of a project (complexity of project scope to depend on seniority), identifying responsibilities, tasks, deadlines and pursuing their timely completion.
• Ability to work with a team, to identify and solve problems or Resolve issues, including members from other units such as the Legal department, audit department, or business Unit.
• Advanced understanding of the operations and inter dependencies of the Affiliates and Bancorp.
• Excellent oral and written communication skills. Effectively communicates upward, downward and laterally. Displays a positive business presence with management and external contacts.

WORKING CONDITIONS:

• Normal office environment with little exposure to dust, noise, temperature and the like.
• Extended viewing of a CRT screen.
• Some travel may be required (less than 10% of total job).

At Fifth Third Bank, we understand the importance of rewarding our employees for their hard work and dedication, therefore, our Total Rewards offering includes a differentiated compensation package and comprehensive benefits.

Benefits:

Our benefits programs are designed to support the health, happiness, and financial well-being of our employees and their families. Your benefits will include access to comprehensive medical, dental, and vision coverage, a 401(k) plan and employee stock purchase plan that both offer a generous employer match, flexible paid time off, comprehensive leave programs, and unique benefits to support your overall mental and physical wellness. For additional details, please contact your recruiter.

Compensation:

The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the US. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.

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Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.