EDD Investigator I

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 through more than 70 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, 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.

Job Summary

Responsible for ensuring that the Bank meets both regulatory and internal Enhanced Due Diligence (EDD) requirements. Tasked with assessing customer risk and producing financial intelligence through research and analysis. The EDD Investigator I will conduct analyses of current customers through a variety of assigned cases. If aligned to support the Payments business, this individual will assist with overseeing and shadow underwriting the (sub)merchant applications that are submitted by the PFs/ISOs. This individual may also assist with the initial and ongoing due diligence of the Banc’s PF/ISO portfolio. 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.

• Promotes a risk-aware culture, ensures efficient and effective risk and compliance management practices by adhering to required standards and processes.
• If aligned to support the Payments business –
• Oversee the (sub)merchant applications of PFs/ISOs to ensure strict adherence to PF/ISO policies and procedures and the Banc’s risk appetite.
  Conduct Know Your Customer (KYC), Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), Customer Risk Rating (CRR) and other financial crimes and regulatory compliance reviews on (sub)merchants and PFs/ISOs.
  Perform ongoing periodic reviews of (sub)merchants and PFs/ISOs.
  Contact PFs/ISOs as necessary to verify information and documentation presented in underwriting package.
  Maintain records of all underwriting performed, including communications with internal and external partners.
• Reviews documentation for existing customers to identify, assess and mitigate KYC risks.
• Performs investigations into ownership and control to identify all ultimate beneficial owners for KYC risk management purposes.
• Utilizes investigative techniques and tools to perform Enhanced Due Diligence by verifying the customer’s identity, reviewing their background, assessing the associated risks, analyzing transactional data, and compiling due diligence files.
• Conduct investigative/intelligence research of individuals, entities, and/or events related to current or prospective customers through public records, open source media, vendor systems, or other research tools.Responsible for communicating with internal and external entities, members of the sales team and other risk units.
• Responsible for submitting Requests for Information (“RFIs”) to the front lines to identify additional information in support of the due diligence investigation and follow-ups to ensure timely receipt.
• Draft assessment summaries and other written investigative/intelligence products to support judgments, decisions and recommendations.
• Interacts with peers, all levels of management and other internal or external constituents in order to deliver comprehensive views on investigative and intelligence matters.
• Alerts management of potentially suspicious findings.
• Accountable for strict adherence to all regulatory deadlines, internal service level agreements, production expectations, and consistent and accurate application of policies and procedures.
• Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
• Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
• 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.
• 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.

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 Partner.

• Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to the following: Regulation Z (Truth in Lending Act), Regulation B (Equal Credit Opportunity Act), Fair Housing Act (FHA), Home Mortgage Disclosure Act (HMDA), Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), Bank Secrecy Act (BSA) in conjunction with the USA PATRIOT Act, Anti-Money Laundering (AML) and Customer Information Program (CIP), Right to Financial Privacy Act (RFPA, state and federal) and Community Reinvestment Act (CRA).
• Analytical mindset with a critical, investigative approach to problem solving.
• Detail oriented coupled with a high level of curiosity and risk awareness.
• Superior knowledge of Excel, writing and mathematical ability.
• Thorough understanding of macroeconomic theory.
• Strong data analysis skills and high attention to detail.
• Strong fixed income knowledge (if applicable).
• Thorough asset liability management (if applicable).
• Demonstrated ability solving complex problems involving multiple facets and variables in non-standardized situations.
• Superior understanding of issues dealing with and analyzing large data sets.
• Thorough understanding of bank financial statements (if applicable).
• High degree of intellectual curiosity.
• Thorough understanding of asset / liability management tools and techniques (if applicable).
• Effective organizational and time management skills.
• Exceptional oral, written and interpersonal communication skills.
• Ability to organize and prioritize work schedules on a short-term and long-term basis.
• Ability to work with little to no supervision while performing duties.
• High school diploma or equivalent work experience.
• Bachelor’s degree preferred.
• A minimum of three (3)+ years of direct BSA/AML/OFAC experience or equivalent.
• Experience in assessing customer risk and due diligence reviews.
• Experience working within the banking industry preferred.
• Certified Anti-Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE) certification, Certified Financial Crime Specialist (CFCS), or other applicable industry designation preferred.
• If aligned to support the Payments business - Practical knowledge of Payment Network (Nacha, Visa, Mastercard, etc.) rules and regulations. Experience

Salary Range: $78,224.64- 85,000.00 USD;  Final salary to be determined by the education, experience, knowledge, skills, and abilities of the applicant, internal equity, and alignment with geographic/market data.