Financial Crimes Officer II

General Function

The Financial Crimes (FC) Officer II must have a high level of expertise within financial crimes risk management and related regulations, guidance and best practices. The FC Officer II Leads in the identification and assessment of risks (BSA/AML, Economic Sanctions and Fraud) and the execution of procedures to evaluate the Bancorp's compliance with laws, regulations and industry standards. Actively engaged and readily available to implement the Bancorp's Financial Crimes programs. Identifies, develops and executes strategies for closing gaps in performance. Works mostly self-directed, with minimal supervisory oversight. Also works within department and cross-department teams. 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 Banks risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

Essential Duties And Responsibilities

• Serve as a subject matter expert responsible for conducting detailed reviews and dispositioning some of the highest-complexity alerts within the Bank’s high-risk customer portfolio, providing sound risk-based analysis, recommendations, and escalations while ensuring adherence to regulatory requirements and internal procedures.
• Participates in the analysis, update, and implementation of financial crimes policies, procedures, and processes.
• Analyzes data by numerous delivery channels, geographic area, product types, to identify financial crimes risks and develop and recommend scope or target for the review, corrective action/or gap closure.
• Develops and executes strategies for closing gaps or enhancing coverage.
• Develop strengthens, and/or implement department and and cross-department business unit policies, procedures, and processes. As well as, ensuring these are in compliance with existing laws and regulations, including governance, policies and procedures, monitoring, reporting, communications, and education, where appropriate.
• Assists in the development of strategic fraud, BSA/AML, and economic sanctions goals and tactical and strategic planning systems.
• Works with senior leadership to set strategic direction for the department and executes on those goals and objectives.
• Makes sure to monitor financial crimes-related regulatory and industry developments and provides input to department and cross-department teams regarding emerging issues and interpretation of regulations.
• Communicates significant issues to senior management.
• Identifies opportunities, establishes action plans, and drives solutions to continuously improve financial crimes policies, procedures and tools, and increase efficiency.
• Assesses the adequacy of the business units'/affiliates recommended corrective action to issues or gaps identified and support post-implementation validation of any implemented changes.
• Participates and/or leads regular meetings with peers to build and maintain knowledge of current and emerging issues and risk in the financial crimes environment.
• Recommends solutions based upon subject matter expertise.
• Serves on various task forces or discussion groups to address financial crimes related issues.
• Contributes updates to the financial crimes risk assessment.
• Facilitates, leads, or assists with financial crimes training.
• Assists in the review of new products and services for financial crimes risk.
• Contributes or leads the completion of special projects related to financial crimes.
• Builds industry relations through industry networking.

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

May be 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

• Advanced knowledge of payment ecosystems, including payment processors, payment facilitators, and other complex payment-related business models, with the ability to understand customer relationships and other complex payment-related business models and the associated financial crime risks.
• Strong subject matter expert in appropriate financial crimes laws, regulations, and guidance.
• Maintains a awareness of division goals, Regulatory and legislative developments, and industry trends.
• Strong subject matter expert in appropriate financial crimes laws, regulations, and guidance.

Education

Bachelor's degree or equivalent work experience required.

Experience

• Five + years’ experience as Officer or equivalent work experience.

Computer/Technical

Demonstrates working or functional proficiency sufficient to apply the use of software applications (Micro-Soft Office Suite) without assistance and minimal supervision.

Other

• Advanced understanding of Fifth Third Banking products, business lines, Affiliate structure and operations, and Corporate support organization. Including, the Bank's management teams and decision-making operations.
• Excellent oral and written communication skills. Effectively communicates upward, downward and laterally. Displays a positive business presence with management and external contacts.
• Must be able to demonstrate sound judgment and apply logical and critical thought processes when developing and recommending solutions.

Total Base Pay Range

82,100.00 - 172,500.00 USD Annual

Location

Cincinnati, Ohio 45227