Job Description

Silvergate has served entrepreneurs in unique and niche industries for over 20 years.  We leverage our technology platform and expertise to develop solutions for fintech and digital currency companies and investors around the world.  Recognizing digital currency’s potential during the sector’s infancy, we have embraced pioneers and built flourishing relationships with those who were underserved by traditional banks.  Silvergate is a California chartered, Federal Reserve member bank, the leading provider of innovative financial infrastructure solutions and services for the growing digital currency industry, and a lender to growth-oriented businesses, entrepreneurs, and investors.  Embracing change and recognizing opportunity are part of the Silvergate DNA.

The VP, Deputy BSA Officer will assist the SVP, Director of BSA (BSA Officer) with the implementation and administration of all aspects of the Bank Secrecy Act compliance program. This position performs various quality controls reviews and monitoring pertaining to the Bank Secrecy Act, USA Patriot Act, anti-money laundering, OFAC and Customer Identification Program compliance using industry standards and regulatory guidance to ensure the Bank’s compliance efforts are maintained daily.  Asist the BSA Officer in monitoring emerging BSA compliance issues, consults and guides the Bank in the establishment of controls to mitigate risks.

ESSENTIAL DUTIES AND RESPONSIBILITIES

BSA

• Serve as the Deputy BSA Officer
• Assist BSA Officer in
  • the development, implementation and updating of the Enterprise Risk Assessment, Bank's BSA Program including, procedures, training, internal control and mitigation processes
  • participation and preparation for regulatory BSA Examinations and Independent Audits, internal Board and Management committee meetings
  • administering BSA/AML/OFAC related training programs for directors, management and employees and providing BSA guidance and coaching to employees
  • preparation of reports for the Executive Management and Board of Directors on a periodic basis
• Responsible for overseeing the Customer Risk Management Program (CRMP) and the annual Enhanced Due Diligence (EDD) review completions, and to ensure client risk ratings are appropriately assigned
• Prepares metrics and/or reports, policies, e.g., BSA/AML Risk Assessments, for the Board of Directors on a periodic basis; ensure the Board is kept fully informed of the BSA program, including but not limited to trends in high risk customer on/off boarding, SARs, emerging BSA, AML and Sanctions typologies
• Maintains supervisory responsibilities, along with BSA Manager and BSA Officer, for mentoring and coaching all BSA staff
• Responsible for compliance with labor laws, performance reviews, work schedules and timekeeping reporting
• Assist with managing the Bank's Sanction screening systems as well as the AML Monitoring System and ensure adherence to the Models Governance Framework
• Gains knowledge of the company’s BSA policy, program, and various desktop procedures to ensure a working knowledge of all segments of the BSA/AML processes within the company
• Oversee daily reviews, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large currency activity among others
• Managing, researching and responding to regulatory and supervisory requested information from the Bank’s regulators as well as FinCEN, OFAC and other government entities

GENERAL

• Provide assistance to the Compliance Department and other departments when needed
• Maintain a proficient knowledge of all applicable rules and regulations
• Research regulatory issues and responds to compliance questions from Bank personnel, using legal and regulatory reference materials, regulatory agencies, Bank legal counsel, and professional associations and organizations, as appropriate
• Maintain current knowledge of all federal and state laws and regulations, along with the Bank’s policies and procedures
• Must adhere to the company’s core values of Challenge Convention, Do What’s Right, Take Ownership, Empower People, Exceed Expectations, and Cultivate Awesome all while keeping our “Why?” front of mind. Our Why? Silvergate is the banking platform for innovators, and we believe in the power of entrepreneurs to create prosperity for our communities.
• Not to harm consumers with any act that could be misleading, unfair, deceptive, or abusive in act or practice

SUPERVISORY RESPONSIBILITIES

• Responsible for managing a team(s) within the BSA Department
• Duties include new candidate screening, training, mentoring, and periodic staff performance reviews

DECISION MAKING

• Requires continuous exercise of judgement
• Identify and select complex choices of action where standard practices may not exist

JOB DIMENSIONS

• Work is diverse in nature, involving long-range planning and the recognition of the need for development of methods, procedures, and/or special programs to solve complex professional and/or managerial problems where current procedures don’t apply.

KNOWLEDGE, SKILLS AND ABILITIES

• 10+ years in direct BSA/AML related role
• Previous experience as a Deputy BSA/AML or BSA Officer required
• ACAMS Certification a plus
• Proven decision making, deductive and investigative abilities with attention to detail and accuracy
• Experience in managing a team
• Familiarity and passion for virtual currency
• Comprehensive understanding of general banking operations activities, products and services, and compliance regulations and laws
• Ability to proactively identify and assess potential concerns and risks
• Ability to resolve issues, work independently, and meet deadlines
• Persuasive and team-oriented
• Ability to interact effectively with all levels of management, regulators and examiners
• College degree, or equivalent banking experience
• Exceptional interpersonal, writing, communication and organizational skills with the ability to work autonomously as well as collaboratively within a team environment
• Good organizational and time management skills

BANK SECRECY ACT REQUIREMENTS

Responsible for adhering to the reporting and recordkeeping requirements of the Bank Secrecy Act and Anti-Money Laundering rules and regulations, observing economic sanctions by prohibiting transactions as specified by the Office of Foreign Asset Control (OFAC), following the Company’s customer identification program (CIP) rules, observing all Company policies and procedures relating to BSA, OFAC, CIP, and related acts, and participation in ongoing related training.

WORK CONDITIONS Standard office environment with a moderate noise level.

PHYSICAL DEMANDS While performing the duties of this job, the employee is:

• Regularly required to talk or hear
• Required to communicate with customer and coworkers verbally and in writing
• Occasionally required to stand; walk
• Required to sit for long periods and reach with hands and arms
• Occasionally required to lift up to 25 pounds
• Able to read documents, computer screens, reports, other communications and have the ability to adjust focus and close vision

Management reserves the right to add to, change and revise this description at any time.  This description does not include any marginal functions that are incidental to the essential functions.  Also, it does not imply that these are the only tasks to be performed by the incumbent.  Employees are required to follow any other job-related instructions and to perform any other job-related tasks requested by their supervisor.  Any requirement may be modified to reasonably accommodate individuals with disabilities.

Silvergate is an EEO/AA/Disability/Vet

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