BANC OF CALIFORNIA AND YOUR CAREER
Banc of California, Inc. (NYSE: BANC) is a bank holding company headquartered in Los Angeles with one wholly-owned banking subsidiary, Banc of California (the “bank”). Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services, with full-service branches throughout California and Denver, Colorado, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more.
At Banc of California, our success is driven by our people, and we take pride in fostering an environment where everyone can reach their full potential. We embrace a culture of empowerment, progressive thinking, and entrepreneurial spirit, ensuring our team members have an opportunity to make an impact and play an important role in the future of Banc of California. Our core values – Entrepreneurialism, Operational Excellence, and Superior Analytics – empower us in creating a dynamic and inclusive workplace. We are committed to supporting your growth and well-being with comprehensive benefits, career development programs, a variety of employee resource groups, and more. TOGETHER WE WIN®
THE OPPORTUNITY
The Sr. BSA/OFAC Compliance Specialist reports to the BSA Manager in the BSA Department. The incumbent is responsible for all aspects of Currency Transaction Reporting (CTR) filings and all screenings related activities, such as OFAC alerts, negative news, politically exposed persons, 314a, and internally developed watch lists. This position plays a critical role in ensuring the timely, accurate, and compliant filing of CTRs as well as compliance with OFAC regulations. Performs all duties in accordance with the Company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the Company operates.
HOW YOU’LL MAKE A DIFFERENCE
Review and file CTR to ensure accuracy and compliance with BSA requirements and regulatory deadlines. Review, investigate, and disposition alerts related to OFAC screening to determine if matches with OFAC lists are valid or false positives. Review blocked and rejected transactions and assist in the preparation of the periodic and annual OFAC blocked property reports sent to OFAC. Review negative news, PEP, 314a, and internal watch list screening alerts to determine positive match. Investigate media coverage, articles, and other sources to assess the potential risk posed by the news hit (e.g., criminal activity, reputational risk, etc.). Disposition negative new alerts appropriately by considering the severity of the risk and adherence to the organization’s risk tolerance and compliance framework. Provide validation of positive search results and provide detailed research information to support the resolution of a match. Provide written and verbal communication on issues with management, the lines of business, etc. Perform and review highly sensitive client and transaction search information as well as report, escalate, and document results. Document findings, decisions, and the rationale behind each disposition for all screening channels. Collaborate with business unit partners to gather more information in order to disposition alerts when necessary. Ensure all alerts are remediated in a timely manner based on SLAs outlined in internal department procedures. Stay current with updates to the OFAC sanctions list and related regulatory requirements. Assist manager with list governance across various systems. Leveraging your BSA experience and knowledge of internal systems/controls to review and complete ad-hoc reporting or manual monitoring efforts. Treat people with respect; keep commitments; inspire the trust of others; work ethically and with integrity; uphold organizational values; accept responsibility for own actions Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct Performs other duties and projects as assigned
WHAT YOU’LL BRING
Must have at least 6+ years of banking experience and at least 5 years of direct CTR or OFAC experience High School diploma or equivalent required College degree in a related field preferred CAMS certification preferred Analytical and problem solving skills; ability to use logic, reason and sound judgment Strong understanding of OFAC sanctions, CTR regulation, and red flags associated with BSA and OFAC Strong verbal, written, and critical thinking skills Highly organized and detail-oriented with a high degree of accuracy and able to multi-task Ability to work independently and maintain high quality in a risk intensive environment Ability to prioritize and successfully manage deadlines Proficiency in Microsoft Office including Excel The ability to read, write and communicate well in English Demonstrate cross-line of business knowledge of banking systems and products
HOW WE’LL SUPPORT YOU
Financial Security: You will be eligible to participate in the company’s 401k plan which includes a company match and immediate vesting. Health & Well-Being: We offer comprehensive insurance options including medical, dental, vision, AD&D, supplemental life, long-term disability, pre-tax Health Savings Account with employer contributions, and pre-tax Flexible Spending Account (FSA). Building & Supporting Your Family: Banc of California partners with providers that offer adoption, surrogacy, and fertility assistance as well as paid parental leave and family support solutions including care options for your family. Paid Time Away: Eligible team members receive paid vacation days, holidays, and volunteer time off. Career Growth Opportunities: To support career growth of our team members, we offer tuition reimbursement, an annual mentorship program, leadership development resources, access to LinkedIn Learning, and more.
SALARY RANGE
The base salary ultimately offered is determined through a review of education, industry experience, training, knowledge, skills, abilities of the applicant in alignment with market data and other factors.
Banc of California is an equal opportunity employer committed to creating a diverse workforce. All qualified applicants will receive consideration for employment without regard to age (40 and over), ancestry, color, religious creed (including religious dress and grooming practices), denial of Family and Medical Care Leave, disability (mental and physical) including HIV and AIDS, marital status, medical condition (cancer and genetic characteristics), genetic information, military and veteran status, national origin (including language use restrictions), race, sex (which includes pregnancy, childbirth, breastfeeding and medical conditions related to pregnancy, childbirth or breastfeeding), gender, gender identity, gender expression, and sexual orientation. If you require reasonable accommodation as part of the application process, please contact Talent Acquisition.