This Supervisor will oversee a team that is responsible for the governance, oversight, and execution of the Busey's Economic Sanctions program, as well as coordinating the day-to-day implementation of these efforts including sanction dispositioning watchlist screening alerts and escalations. The team is responsible for monitoring and assessing sanctions risk, upholding U.S. and other applicable sanctions regimes, and ensuring that the Bank is well positioned to adapt to any future sanctions' programs. This Supervisor will bring strong expertise that will play a critical role in driving and supporting the execution of long-term strategy and critical initiatives and will assist in implementing Busey's enterprise-wide Sanctions program.
In addition, this Supervisor will engage and collaborate across business lines to enhance the Economic Sanctions program and identify and implement additional processes as needed. The Supervisor will also assist with other projects such as the enterprise-wide BSA/AML and OFAC risk assessment and implementation of AML/Countering the Financing of Terrorism (CFT) National Priorities (i.e. AML Act of 2020).
Finally, this Supervisor must have a risk-based and innovative mindset, while also having the ability to work collaboratively with other FCRM Department managers and team members to influence change.
Duties & Responsibilities:
Lead Busey's Economic Sanctions program, including maintaining policies and procedures and communicating requirements to business and compliance stakeholders
Prepare OFAC, BIS, or other regulatory required reporting as necessary
Participate in Vendor Management review of new and existing vendors
As a SME on sanctions, support business with timely advice on sanctions related matters, standards, and procedures.
Prepare Key Risk and Performance Indicators metrics
Ensure timeliness, completeness, and accuracy of all sanction related components
Serve as main point of contact for sanction training, escalations, and for providing direction for business units across the organization to ensure policies and procedures are being followed
Understand key systems required to carry out the sanction program effectiveness
Monitor and stay current with OFAC regulatory, BIS, BSA/AML and industry developments, and best practices
Assist or lead projects related to the enhancement of Busey's Economic Sanctions Program
Regular reporting (written and verbal) to senior management in a clear, concise manner, when applicable
Manage and develop team members' skills and technical expertise to meet oncoming risks and business changes
WHAT YOU'LL BRING
Federal Regulations, specifically related to Sanctions Compliance laws and regulations enforced by the U.S. Treasury Department's Office of Foreign Assets Control and other regimes
Industry standard sanctions screening systems/tools
Experience managing people and complex projects
Strong oral and written communication skills
Knowledge of AML, KYC, and FinCEN reporting a plus
Conduct investigations to uncover sanction-related connections
Attend compliance related meetings with business partners at the various bank regions, as applicable, in relation to the Regulatory Compliance Program
This position requires the ability to assess BSA/AML and OFAC risk in current and new bank initiatives while providing easy to understand guidance to business staff and senior management
WHY IT MATTERS
With recent changes to the sanction regulatory space, strong employees with a mindset that is risk-based and innovative are in need more than ever. Development of an Economic Sanctions team is critical for the FCRM Department. Having a risk-based and innovative OFAC and FCRM Program gives Busey a competitive advantage over its competitors, while also playing an important role in protecting Busey and financial industry from criminals. In today's regulatory environment, identifying and mitigating financial crimes and sanctions risk before it becomes a bigger issue, not only protects income, it builds up Busey's reputation with its customers. A strong reputation leads to customer retention and new customer acquisition. You will also be a partner to Busey's business lines and key to their success and the success of Busey.
EDUCATION & TRAINING
Bachelor's degree is required
5+ years of experience focused on sanctions compliance within financial services is required. A combination of this experience, alongside BSA/AML risk management and governance, Internal Audit, or other similar experience, is preferred
In-depth knowledge of U.S laws and regulations applicable to U.S. sanctions; familiarity with the U.S. Treasury Department's Office of Foreign Assets Control; extensive experience with implementing and maintaining Economic Sanctions programs, including experience as a supervisor or lead for Economic Sanctions.
5+ years' experience in banking, compliance, risk management, internal audit, regulatory or a related field within financial services OR an equivalent combination of education and experience is required
Professional certification (e.g., CAMS, CFE, etc.) preferred
Busey believes that diversity and inclusion among our teammates is critical to our success as a company, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool.
Equal Opportunity Employment is a priority for Busey and all qualified applicants will receive consideration regardless of race, color, religion, national origin, genetic information, sex (including pregnancy), age, sexual orientation, gender (including gender identity and expression), marital status, military status, veterans status, citizenship status, work authorization status, work disability, order of protection or any other characteristic protected by applicable law or other non-merit based factors.
As of June 30, 2019, First Busey Corporation (Nasdaq: BUSE) was a $9.61 billion financial holding company headquartered in Champaign, Illinois.
Busey Bank, a wholly-owned bank subsidiary with total assets of $7.66 billion as of June 30, 2019, is headquartered in Champaign, Illinois and has 44 banking centers serving Illinois, 13 banking centers in the St. Louis, Missouri metropolitan area, five banking centers serving southwest Florida and a banking center in Indianapolis, Indiana. Through the Busey Wealth Management division, the Company provides asset management, investment and fiduciary services to individuals, businesses and foundations. As of June 30, 2019, assets under care were approximately $7.47 billion. Busey Bank owns a retail payment processing subsidiary, FirsTech, Inc., which processes approximately 28 million transactions per year using online bill payment, lockbox processing and walk-in payments at its 4,000 agent locations in 43 states. More information about FirsTech, Inc. can be found at firstechpayments.com.
Busey Bank was named among Forbes' 2019 Best-In-State Banks—one of five in Illinois and 173 from across the country, equivalent to 2.8% of all banks. ...Best-In-State Banks are awarded for exceptional customer experiences as determined by a survey sample of 25,000+ banking customers who rated banks on trust, terms and conditions, branch services, digital services and financial advice.
TheBANK of Edwardsville, a wholly-owned bank subsidiary of the Company with total assets of $1.95 billion as of June 30, 2019, is headquartered in Edwardsville, Illinois and has 19 banking centers. Through TheBANK of Edwardsville Wealth Management division, the Company provides asset management, investment and fiduciary services to individuals, businesses and foundations. As of June 30, 2019, assets under care were approximately $1.50 billion.
For more information about us, visit busey.com and 4thebank.com.