SVB-Manager: Enhanced Due Diligence

SVB-Manager:
Enhanced Due Diligence – Payments

Silicon Valley Bank

This is a hybrid role that may only be hired in the following locations:
Dallas, Austin, Tempe, Raleigh, Miami or Charlotte. SVB’s First Line of Defense Enhanced Due Diligence Know Your Customer ("EDD KYC") team is responsible for conducting enhanced due diligence on higher risk client segments that may pose a higher risk for money laundering, terrorist financing, sanctions, or reputation risk in support of all legal and regulatory requirements as a large financial institution.

You will be tasked with leading a team that conducts enhanced due diligence reviews of prospective and existing organizations operating across international jurisdictions, ensuring that they are compliant with FCBs enhanced due diligence requirements. You will be the identified expert on relevant BSA/AML compliance for the FCB Commercial Bank by the relationship team and clients. You will interact with peers and risk professionals, all levels of management, and other internal or external constituents to ensure your team delivers comprehensive views on KYC and EDD matters.

It will be critical for you to stay current with developments and changes within the payments industry and Fintech business models in order to seek ways to enhance current processes and controls, and communicate with your peers and partners.

Enhanced Due Diligence Reviews
- Manage a team’s pipeline of EDD reviews on new and existing clients engaged in higher risk business models, including Money Service Businesses (MSBs), Third-Party Payment Processors, Loan or Finance Companies, and other Non-Bank Financial Institutions (NBFIs), ensuring compliance with regulatory requirements and internal policies. Coordinate cross-functional teams’ in-depth analysis of client profiles, business activities and ownership structures to assess money laundering, terrorist financing and other financial crime risks.

Provide oversight of escalated client reviews on client documentation, business licenses, financial statements, and transaction records to ensure accuracy and completeness of KYC information. Assist clients and prospects in establishing the proper control environment to ensure compliance with the Bank’s requirements.

• Regulatory Compliance
  - Serve as a subject matter expert and ensure compliance with regulatory requirements, industry standards and best practices related to EDD, KYC, BSA, Sanctions, AML and additional compliance regulations surrounding the financial services and NBFI industries. Document and maintain accurate records of due diligence reviews, including findings, decisions, and supporting documentation in accordance with internal policies and regulatory standards. Partner with Compliance, Internal Audit, and other departments to respond to examinations and audit requests, assist in development and execution of implementation of program enhancements to ensure all processes and changes implemented fully comply with applicable regulations and legislation, standards, policies, and guidelines.
• Risk Analysis:
  Lead and champion efforts on identifying and managing existing and emerging risks identified through reviews, and ensuring these risks are effectively assessed, communicated, and controlled. Conduct assessments and profiling of clients based on their risk factors including business type, transaction volume and geographical location. Analyze client transactions and account activity to identify red flags indicative of potential financial crimes or higher risk activities.
  
  Identify and communicate opportunities to automate/streamline quality and compliance efforts.
• Reporting & Training
  - Collaborate with internal FLOD EDD and cross-functional teams to share insights, provide support, training and guidance on policies, procedures and best practices, promoting a culture of compliance. Communicate effectively with internal stakeholders, relationship managers, and business units to address queries and resolve issues related to EDD. Provide expertise in assessing prelaunch or emerging business models to align with internal requirements for EDD and approval.

Bachelor’s Degree with a minimum of 4 years of experience in Payments within Fintech, banking, KYC Compliance, risk management with direct experience leading a team OR High School Diploma or GED with a minimum of 8 years of experience.

• KYC First Line, Compliance or Risk roles reviewing financial technology (Fintech) or Banking-as-a Service (BaaS) relationships at a Large Financial Institution
• KYC First Line, Compliance or Risk roles reviewing unique account structures like On-behalf-of (OBO) and/or For-benefit-of (FBO) products