Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle market companies across a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A.
The Anti-Money Laundering (“AML”) Testing AVP is responsible for the execution of compliance testing reviews (“reviews”) related to Financial Crimes including, but not limited to the Bank Secrecy Act (“BSA”), the USA PATRIOT Act, OFAC and other sanctions, and anti-corruption/bribery requirements. The successful candidate will engage in the planning, scoping, execution, communication, and issue identification/ tracking associated with each review (referred to as “the compliance testing cycle”). All reviews must be executed in a timely manner and align with the established policies and procedures.
Responsibilities: Day to Day
• 5-7 years experience in commercial banking – preferably in a Compliance function.
• 3+ years audit or compliance testing execution with proven understanding of testing methodologies and processes.
• In-depth knowledge of an effective BSA/AML risk management framework that is consistent with regulatory expectations.
• Knowledge of overall financial crimes risk management framework preferred.
• Good knowledge of laws and regulations applicable to commercial banking businesses.
• Excellent communication and interpersonal skills with the ability to effectively and confidently communicate and influence at management level with the personality to challenge status quo.
• Demonstrate strong analytical and problem solving skills with good understanding of risk management concepts and sound decision making ability.
• Excellent writing skills with ability to effectively articulate findings and issues in concise manner.
• Strong attention to detail with ability to multi-task, prioritize and work well in a fast paced organization.
• Ability to work in partnership with others and in a team environment and possess strong work ethics.
• Exhibit accountability – personal ownership for actions, decisions.
• Ability to travel.
• Proficiency with data management, spreadsheet and standard computing applications (Excel, PowerPoint and Word).
• Previous experience with testing software and applications e.g. BWise.
• Proven understanding of the risk environment in which the company operates