Job Information
Banc of California SVP, BSA Officer in Santa Ana, California
Description
BANC OF CALIFORNIA AND YOUR CAREER
Banc of California, Inc. (NYSE: BANC) is a bank holding company headquartered in Los Angeles with one wholly-owned banking subsidiary, Banc of California (the “bank”). Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services, with full-service branches throughout California and Denver, Colorado, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more.
At Banc of California, our success is driven by our people, and we take pride in fostering an environment where everyone can reach their full potential. We embrace a culture of empowerment, progressive thinking, and entrepreneurial spirit, ensuring our team members have an opportunity to make an impact and play an important role in the future of Banc of California. Our core values – Entrepreneurialism, Operational Excellence, and Superior Analytics – empower us in creating a dynamic and inclusive workplace. We are committed to supporting your growth and well-being with comprehensive benefits, career development programs, a variety of employee resource groups, and more. TOGETHER WE WIN®
THE OPPORTUNITY
The SVP, BSA Officer is responsible for administering compliance with all aspects of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Asset Control (OFAC), and the USA Patriot Act. This role ensures the program functions at a high level of compliance with BSA/AML-related laws and regulations, internal policies, and federal regulatory expectations. Responsible for development, implementation, administration vision and strategy of all aspects of the Bank Secrecy Act Compliance Program. This position performs various oversight reviews and monitoring in the area of Bank Secrecy Act (BSA), Law Enforcement Requests, USA PATRIOT Act, Office of Foreign Assets Control (OFAC) and Customer Identification Program (CIP) and Customer Due Diligence (CDD) compliance using industry standards and regulatory guidance methods to ensure the Company’s compliance efforts are maintained. This position will partner with Senior Management and other business leaders to all regulatory and legal requirements are met. Performs all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.
HOW YOU’LL MAKE A DIFFERENCE
Develop, implement, enhance and maintain the bank’s BSA/AML/OFAC compliance program.
Ensure compliance with all relevant federal and state regulations, including the Bank Secrecy Act, USA PATRIOT Act, and OFAC requirements.
Ensure effective implementation of Know Your Customer (KYC), Customer Identification Program (CIP), Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) processes.
Conduct regular risk assessments and audits to identify and mitigate potential compliance risks.
Develop, implement, enhance and maintain processes to ensure the operating effectiveness of the company’s control framework, including the KYC, CIP, CDD, EDD processes.
Ensure all required regulatory reporting is conducted in a timely, accurate, and compliant manner.
Prepare and submit Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) as required.
Create and update BSA/AML policies, standards and procedures to reflect current regulatory requirements and industry best practices.
Utilize advanced technologies such as AI and machine learning to enhance transaction monitoring and fraud detection.
Implement and manage automated systems for transaction monitoring and reporting.
Collaborate with IT and other departments to integrate compliance tools and ensure data accuracy and security.
Develop and deliver ongoing BSA/AML training programs for all bank employees.
Communicate compliance updates and changes to senior management and the board of directors.
Serve as the primary point of contact for regulatory agencies and external auditors.
Maintain comprehensive records of all compliance activities and findings.
Provide regular reports to senior management and the board on the status of the BSA/AML program.
Ensure timely and accurate filing of all required regulatory reports.
Act as a liaison/contact for examinations, internal audits, and external audits of the BSA/AML compliance programs. Respond to exams and audit concerns and oversee corrective actions to ensure deficiencies are addressed
In-depth understanding of BSA/AML regulations and requirements.
Familiarity with federal and state banking laws and regulations.
Strong analytical and problem-solving abilities.
Ability to interpret complex data and identify trends and anomalies.
Proficiency in using compliance software and automated monitoring systems.
Experience with AI and machine learning applications in compliance.
Ability to leverage technology to streamline compliance processes and enhance efficiency.
Excellent written and verbal communication skills.
Ability to develop and deliver effective training programs.
Strong interpersonal skills and the ability to work collaboratively with various departments.
Develops, communicates and implements the Company’s strategic vision for BSA and OFAC risk mitigations in support of the corporate priorities and various business initiatives across the Company.
Proven ability to lead and manage a compliance team.
Strong organizational and project management skills.
Ability to work independently and make informed decisions.
Manages a large team of staff in multiple location; Performs personnel actions including performance appraisals, disciplinary actions, and interviewing candidates for employment; supervises the daily activities of the team including, but not limited to, effective delegation of assignments, developing work schedules and providing necessary training.
Treat people with respect; keep commitments; inspire the trust of others; work ethically and with integrity; uphold organizational values; accept responsibility for own actions.
Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
Performs other duties and projects as assigned.
WHAT YOU’LL BRING
Bachelor’s degree in finance, business, law, and/or relevant work experience.
Minimum of 7-10 years of experience in BSA/AML compliance within the banking industry.
Professional certifications such as CAMS (Certified Anti-Money Laundering Specialist) or CFE (Certified Fraud Examiner) are highly desirable.
Demonstrated experience with technology and automation in compliance processes.
HOW WE’LL SUPPORT YOU
Financial Security: You will be eligible to participate in the company’s 401k plan which includes a company match and immediate vesting.
Health & Well-Being: We offer comprehensive insurance options including medical, dental, vision, AD&D, supplemental life, long-term disability, pre-tax Health Savings Account with employer contributions, and pre-tax Flexible Spending Account (FSA).
Building & Supporting Your Family: Banc of California partners with providers that offeradoption, surrogacy, and fertility assistance as well as paid parental leave and family support solutions including care options for your family.
Paid Time Away: Eligible team members receive paid vacation days, holidays, and volunteer time off.
Career Growth Opportunities: To support career growth of our team members, we offer tuition reimbursement, an annual mentorship program, leadership development resources, access to LinkedIn Learning, and more.
SALARY RANGE
The full-time base salary range for this position is $195,000.00 - $250,000.00 a year. The base salary ultimately offered is determined through a review of education, industry experience, training, knowledge, skills, abilities of the applicant in alignment with market data and other factors.
Banc of California is an equal opportunity employer committed to creating a diverse workforce. All qualified applicants will receive consideration for employment without regard to age (40 and over), ancestry, color, religious creed (including religious dress and grooming practices), denial of Family and Medical Care Leave, disability (mental and physical) including HIV and AIDS, marital status, medical condition (cancer and genetic characteristics), genetic information, military and veteran status, national origin (including language use restrictions), race, sex (which includes pregnancy, childbirth, breastfeeding and medical conditions related to pregnancy, childbirth or breastfeeding), gender, gender identity, gender expression, and sexual orientation. If you require reasonable accommodation as part of the application process, please contact Talent Acquisition.
Equal Opportunity Employer
PacWest Bancorp and its affiliates are fully committed to the principles of equal opportunity and diversity. We take pride in building a workplace culture where all employees feel supported and respected, and have equal access to career and development opportunities without regard to race, religion/creed, color, national origin, age, marital status, ancestry, sex, gender (including pregnancy, childbirth, breastfeeding or related medical conditions), gender identity/expression, sexual orientation, veteran status, physical or mental disability, medical condition, military status, genetic information, or any other characteristic protected by federal, state or local laws.