Financial Crimes Unit Risk Manager

About Bankwell:

Bankwell is a commercial bank with more than $3 billion in assets that serves the banking needs of businesses and individuals. At Bankwell, we pride ourselves on our unique ability to bring you high touch, high quality banking with the expertise and dedication of our experienced team of professionals. When it comes to business, our deep industry knowledge, flexibility and innovative treasury and financing services enable us to find the right solutions for our business and commercial clients. We’re passionate about giving back and are actively involved with many not-for-profit organizations that help shape and improve the lives of others. We’re dedicated to giving our time and talent to support the communities we serve. More about Bankwell can be found at www.mybankwell.com.

Summary of Position:

The FCU Risk Manager is responsible for identifying, assessing and escalating potential money laundering, legal and reputational risks associated with higher risk customer types. This individual will be tasked with assessing customer risk, conducting high risk customer reviews through assigned alerts and cases and filing regulatory reports. Additionally, this individual will or may potentially lead a team of BSA Analysts in ensuring that the Bank meets both regulatory and internal Customer Due Diligence and Enhanced Due Diligence (EDD) requirements under the direction of the BSA Officer.  

Responsibilities:

• Review KYC Onboarding documentation (CIP), conduct risk assessments, liaising with business units, front office, Compliance, and BSA teams and advising on KYC requirements.
• Identify higher risk customers through initial and ongoing due diligence reviews
• Oversee and support EDD reviews conducted by BSA Analysts
• Review documents and information to perform timely enhanced due diligence reviews on higher risk customers.
• Advise on relevant changes to customer behavior that may support money laundering or illegal activities relating to financial crimes.
• Complete CDD/EDD due diligence reviews and CDD/EDD alerts generated by the Banks monitoring system.
• Prepare detailed case reports and make recommendations on high-risk customers, including but not limited to de-risking recommendations and account closures to the BSA Officer.
• Responsible for filing regulatory reports on high risk customers, including suspicious activity reports and cash transaction reports.
• Serve as a subject matter expert on customer due diligence, enhanced due diligence and customer risk related issues.
• Provide subject matter guidance for front office and BSA staff including ongoing CDD and EDD training.
• Assist the BSA Officer in maintaining and updating CDD|EDD Procedures
• Assist the BSA team during audits and examinations

Qualifications & Skills:

• Ability to manage multiple and changing priorities
• Meet regulatory and internal deadlines
• Excellent oral and written communication skills
• Must be proactive, self-motivated, and a self-starter
• Possess good interpersonal skills
• The ability to communicate with people at all levels of the Bank including Senior Management.
• Strong sense of integrity and personal ethics with the ability to work both independently and with team member under tight deadlines.
• Knowledge of Bank Secrecy Act and Anti Money Laundering regulations including OFAC regulations and USA PATRIOT Act; this position requires experience actually performing CDD and EDD reviews and regulatory reporting tasks.
• Knowledge of all applicable State and Federal BSA compliance regulations and laws
• Experience in reviewing and managing high risk client relationships, such MSBs.
• Ability to independently make risk related decisions and recommendation on potential mitigation.    
• Experience with MRBs a plus.  
• Previous experience with SAR and CTR completion and electronic filing.
• ACAMS certification or equivalent certification/license is preferred; with ability to apply learned knowledge.
• Bachelor’s degree in Accounting, Business Administration, or Finance preferred.
• Basic PC skills. Strong knowledge of Windows and Microsoft programs, including the Word Documents, Excel spreadsheets, and Power Point presentations.  
• Core system and AML software. Experience with Fiserv Cleartouch and AML Manager or Fraud Manager is desirable.