Compliance Operations RepresentativeStart Application Job ID BIS-8323 CityLos Angeles StateCalifornia Exempt/Non ExemptNon-Exempt ShiftDay Work ScheduleMonday-Friday, 7:30-4:15pm
This position is responsible for providing day-to-day compliance operations support. Key responsibilities are the timely and accurate processing of compliance and legal order documentation. Represents the department to both internal and external clients, attorneys and regulatory agencies to interpret and explain policies and procedures, respond to inquiries, requests and to resolve problems.
Generally responsible for processing one major function within the department which includes Currency Transaction Reports, Legal Processes, Subpoenas or Office of Foreign Assets Control (OFAC) functions. In addition to other tasks within the department such as Form W9, , TEFRA balancing, reviewing and reporting on attorney-client trust accounts, dormant/escheat notices, Reg D MMA/SAV report, check reclamations, B and C notices, 1099/1098 mailing and corrections, IOLTA remittance
- Responsible for Subpoena processing which includes conducting research on bank systems to determine the applicable production of clients records, sending subpoena notifications to clients and/or business units, interacting with attorneys and regulatory agencies to determine and negotiate the production and due dates of records, requesting ,reviewing and mailing of the production of records.
- Responsible for processing various types of Legal Processes which includes conducting research on bank records based on information provided on the legal order and determining accounts applicable to the order, holding and remitting clients funds and/or property to the respective agency.
- Responsible for processing Currency Transaction reports which includes researching, verifying and evaluating transactions to determine if a currency transaction report is warranted to comply with The Financial Crimes Enforcement Network (FinCEN) regulatory requirements.
- Responsible for reviewing and approving various transactions that alert due to Office of Foreign Assets Control OFAC.
- Responsible for processing Reg D-Money Market/Savings Account monitoring reports. .Activating dormant/escheat suspect accounts.
- Conducting daily review of nonsufficient funds (NSF) items for attorney-client trust accounts and notifying the State Bar, if applicable.
- Processing of Forms W-9, processing U.S. Department of the Treasury check reclamations, invoking and releasing IRS backup withholding on deposit accounts and monitoring IRS B and C notices.
- TEFRA balancing, remitting interest on IOLTA accounts to various State Bars, processing missing TIN report
- Escheat process which includes reporting and remittance of unclaimed property to their respective States
- Assisting with the mailing and corrections of year-end 1098/1099, B-notices mailing.
- *High School Diploma or GED required.
- *Minimum 6 months of compliance or banking operations experience required. OR
- *Minimum 1 year of general office or accounting experience required.
Skills & Knowledge:
- Good knowledge of Bank Secrecy ACT (BSA), OFAC and other regulatory requirements.
- Knowledge in processing currency transaction reports, Legal Processes, Subpoenas, OFAC and/or general understanding of compliance related functions.
- Great quality of work, quantity of work, job knowledge, customer service, problem solving, ability to work independently and initiative to take on new assignments, compliance and dependability.
*Represents basic qualifications for the position. To be considered for this position you must at least meet the basic qualifications.
City National Bank is an Equal Opportunity/Affirmative Action Employer, Minorities/Females/Individuals with Disabilities/Veterans
Note: This preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Note: Candidates should be advised that City National Bank does not pay interviewee travel expenses or relocation expenses for candidates who are hired unless previously agreed.