BSA Risk and Control Lead

Since 1973, East West Bank has served as a pathway to success. With over 120 locations across the U.S. and Asia, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities, and our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, and high-tech help build sustainable businesses and expand our associates’ potential for career advancement.

Headquartered in California, East West Bank (Nasdaq: EWBC) is a top performing commercial bank with an exclusive focus on the U.S. and Greater China markets. With a strong foundation, and enterprising spirit and a commitment to absolute integrity, East West Bank gives people the confidence to reach further.

The FVP, BSA Risk and Controls Lead will be responsible for leading and managing the enterprise-wide Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets (OFAC) risk assessments for East West Bank’s BSA/AML and OFAC program. This role reports directly into the Deputy BSA Officer. This position requires independent thinking and self-starter who takes charge of enterprise level risk assessments and delivers results that positively impact the organization’s customers, employees and bottom line.

• Lead and execute the BSA/AML and OFAC risk assessment process end-to-end on an annual and ongoing basis, including oversight and support of the institutional risk assessment of the Bank’s foreign offices/branches.
• Leveraging risk assessment software platform(s), maintain and update methodologies, measure risk based on the Bank’s profile, analyze risk impact and the areas for control improvement.
• Manage and continue to improve the risk and control environment as it relates to BSA/AML and OFAC. Review and challenge, on the effective design and management of controls to mitigate risks, including implementation and operation, conducting the control monitoring, handling deficiencies, and escalating issues for resolution.
• Additionally, responsible for coordination for programs within other various risk stripes and ensure sufficient subject matter expertise exists to enable management of these risks within the Business (e.g. compliance, fraud, etc.)
• Acts as the SME for risk assessment to stakeholders and /or other team members. Provide guidance, training and support, as needed to ensure effective execution of risk assessment programs and activities.
• Develop excellent stakeholder relationships across First Line of Defense teams and Second Line of Defense teams.
• Assess the risks associated with thematic, emerging and event driven activities and changes to the Business, ensuring these are well understood and adequately risk assessed and controlled. Support ongoing governance materials and presentations to inform key stakeholders of emerging risks.
• Apply knowledge of the business, products or services to preform risk assessments and to identify and implement processes & control throughout the business. Apply what-if analysis and demonstrate ability to develop and implement strategy and process improvement initiatives.
• Accountable for the quality, completeness, and accuracy of the risk assessments.
• Partners with cross function stakeholders to administer, track, follow up and complete tasks related to the risk assessment process.
• Review data and conduct trend analysis that will support the risk assessment.
• Ensure the identification of root causes, partnering with control and process owners to recommend holistic corrective actions and improvements, provide check and challenge to ensure appropriate escalation in according with relevant Policies 
• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the bank, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
• Prepare status updates, reports, and/or presentation decks for various meetings, ensuring concise and impactful communication of key insights and data.
• Continuous monitoring and keeping abreast of new BSA/AML and OFAC regulations/trends and other changes in the industry environment;
• Periodically refresh risk assessment documents; identify and resolve how such changes affects the Bank’s BSA program for consistency and gaps relative to changes in regulations. Assess Risk Appetite and monitor / assess exposures against this in accordance with Policy.
• Handle other responsibilities and provide support, as required.

• 7+ years’ experience in BSA/AML and OFAC regulations.
• 5+ years of experience leading or supporting BSA/AML, OFAC, or similar risk assessments at or for financial institutions strongly preferred.
• Bilingual in Mandarin and/or Cantonese strongly preferred.
• Bachelor’s/University degree or equivalent experience.
• Proficient in Microsoft office suite and other risk assessment related software/tools.
• Strong understanding of risk management practices, including inherent risk assessment, control evaluation and residual risk measurement
• Experience leading the execution of complex projects to challenging timelines and to meet regulatory expectations
• Strong problem solving, critical thinking and risk management skills
• Strong time management skills, analytical skills, organizational skills, be detail-oriented and have the ability to multi-task.
• Consistently demonstrates clear and concise written and verbal communication skills, with proficiency in conveying complex information, working with management, as well as, external parties.
• Can exercise independence of judgement and autonomy.