CIT Group Inc.

AVP, Enhanced Due Diligence Manager

Location US-FL-Jacksonville
Job ID
32644
# Positions
1
Job Family
Compliance - BSA, AML & Sanctions, OFAC
Type
Full-Time

Overview

CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.

Responsibilities

The Enhanced Due Diligence (EDD) team is a crucial component of CIT’s Financial Crimes Program within Corporate Compliance.  This position will support the Head of KYC and will be responsible for the day-to-day management of the EDD team. The EDD team is responsible for the review of all High Risk customers (inclusive of both the Corporate and Retail business lines), the dispositioning of escalated adverse media and Politically Exposed Person (PEP) screening hits and providing subject matter expertise to the relevant operations and front office groups.

The successful candidate will successfully manage the EDD team, which is responsible for enhanced due diligence reviews for high risk customers and the review of adverse media and PEP alerts for materiality to the customer’s AML risk rating. The EDD Manager will be diligent in providing reporting and maintaining the Bank’s EDD Procedure. They will assist the Head of KYC in providing guidance and feedback to all Business Units in all KYC matters. They will further be able to execute upon all regulatory and internal audit request regarding the work of the EDD team.

The EDD Manager will be responsible for:
• Ensuring that all EDD team work is done within the given SLAs, including the review of high risk customer onboardings and periodic reviews and dispositioning of adverse media and PEP alerts
• Providing feedback and guidance to the EDD team and the client onboarding team on all KYC matters, include case and screening alert reviews
• Coordinate with the front office and the business line compliance officers to ensure the efficient execution of the Bank’s KYC program
• Responsible for the maintenance of the Bank’s EDD procedure and for providing support to the Head of KYC in maintenance of the Bank’s KYC Policies and Procedures
• Responsible for the tracking and reporting of metrics for the EDD team
• Responsible for the preparation of all internal and external reporting of KYC/EDD team projects
• Assists the Head of KYC in preparation for Regulatory, Internal Audit and Compliance Testing requests

Qualifications

• Bachelor’s degree required; advanced degree preferred
• 7+ years in an BSA/AML Compliance role or equivalent experience in the financial services industry in a regulated financial institution related to KYC
• Management experience strongly preferred
• Subject matter expertise in AML and Sanctions regulations
• Effective verbal and written communication skills
• Demonstrated sense of urgency, attention to detail and organizational skills
• Ability to work in a heavily deadline driven environment
• Proficiency in Windows based applications (e.g., Word, Excel and PowerPoint) skills
• Demonstrated ability to focus on details and ability to execute daily tasks independently and effectively
• Ability to multi-task
• Self-motivated with the ability to work independently and as a member of a team 

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