Legal & Compliance Department-L3 Suspicious Activity Reporting (SAR) Associate

About the Role

Bank of China, established in 1912, is one of the largest banks globally with over $3 trillion in assets and a presence in more than 60 countries and regions. The L3 QC Associate is responsible for Suspicious Activity Report (SAR) review and determination, SAR filing, and related administrative duties, as well as quality control for SAR and Do Not File (DNF) determinations. This role also involves assisting with Currency Transaction Reports (CTR), system testing (UAT), and various anti-money laundering (AML) initiatives. The position ensures adherence to all applicable laws, regulations, and regulatory guidance.

Responsibilities

• Perform quality control (QC) on cases referred from the L2 Financial Investigation Unit (FIU) Team, other LCD teams, or other bank departments.
• Review and confirm historical lookback transactions to ensure all necessary transactions are reported.
• Review "No Activity" reports to ensure no continuing activity is overlooked.
• Prepare additional RFI inquiry forms (or SWIFT RFI) and associated data for communication with BOC USA Branches, overseas BOC Branches, or external parties (e.g., correspondent banks).
• Make final determinations on case disposition and prepare corresponding documentation.
• Complete SAR forms and narratives, as applicable.
• Prepare DNF Memos and supporting documentation to mitigate identified risks.
• Review and complete CTR forms for regulatory filing.
• Monitor, gather, and prepare data/statistics on daily progression, QA, and productivity to track team output and quality.
• Respond to EET/LGO requests for documents related to subpoenas.
• Address concerns from CMTG or IAD.
• File SARs and CTRs with FinCEN in a timely manner.
• Identify, mitigate, and report issues during business-as-usual (BAU) work, following up on and resolving them with guidance from the Head of SAR or Deputy Head of SAR.
• Provide training, feedback, and assistance to L2 analysts to enhance risk identification and case review skills.
• Support the enhancement of Transaction Monitoring System (TMS) operations, processes, policies, and procedures.
• Assist in developing, implementing, or advising on a risk-based compliance monitoring program, including new scenarios, workflows, and reporting mechanisms.
• Support the validation of TMS scenarios, investigations, reporting, and CRR models.
• Provide advisory services to business lines on customer risk rating, PEP identification, transaction monitoring, and regulatory reporting.
• Serve as a liaison to stakeholders for projects impacting the SAR team or transaction monitoring.
• Assist SAM SMEs on BSA/AML regulatory requirements and concerns.
• Escalate and report suspicious activity in accordance with regulatory obligations.
• Monitor AML/BSA industry developments and maintain knowledge of new and amended laws and regulations.
• Organize and provide training on Level 3 matters and transaction monitoring for the team and stakeholders.
• Perform additional tasks and projects assigned by LCD’s Management Team in support of transaction monitoring or the Compliance Program.
• Serve as a key point of accountability for research and analysis related to the Bank’s exposure to global financial crime.
• Review, assess, and respond to CMTG, internal audit, or OCC concerns to support the SAM program.

Requirements

• Bachelor’s degree required.
• Minimum of 1 year of experience in compliance, legal, or financial industries.
• Minimum of 1 year of experience leading teams within financial services, fraud management, risk, legal/compliance, or other relevant leadership roles (preferred).
• Knowledge of U.S. banking regulations.
• Good understanding of OFAC, BSA/AML, USA PATRIOT Act, and risk management principles.
• CAMS certification preferred.

Pay

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education, and other qualifications. The pay range for this role is USD $42,000.00 - USD $90,000.00 per year.