CDD/EDD Compliance Manager

at  Customers Bank

At Customers Bank, we believe in working hard, working smart, working together to deliver memorable customer experiences and having fun. Our vision, mission, and values guide us along our path to achieve excellence. Passion, attitude, creativity, integrity, alignment, and execution are cornerstones of our behaviors. They define who we are as an organization and as individuals. Everyone is encouraged to have personal development plans. By doing so, our team members are on their way to achieve their highest potential and be successful in their personal and professional lives.
Position Title: CDD/EDD Compliance Manager
Report to Manager: Deputy BSA Officer
Department: BSA Compliance
Work Location: Hybrid in Malvern, PA or West Reading, PA coming into the office at least 3-days per week with Monday, Tuesday, and Thursday being the set in-office days. All subject to change.
Salary range: An annual salary range of $100,000 to $140,000 is what we expect to pay for this position, based on overall skills and experience.
Who is Customers Bank?
Founded in 2009, Customers Bank is a super-community bank with over $22 billion in assets. We believe in dedicated personal service for the businesses, professionals, individuals, and families we work with.
We get you further, faster.
Focused on you: We provide every customer with a single point of contact. A dedicated team member who’s committed to meeting your needs today and tomorrow.
On the leading edge: We’re innovating with the latest tools and technology so we can react to market conditions quicker and help you get ahead.
Proven reliability: We always ground our innovation in our deep experience and strong financial foundation, so we’re a partner you can trust.
What You’ll Do:
We are seeking a dedicated CDD/EDD Compliance Manager to support the Bank’s ongoing Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) efforts. The role will focus on understanding and managing the current CDD/EDD workload, assisting with customer reviews, and ensuring that compliance with regulatory obligations is met. This role may also involve leveraging contractors to assist with the annual reviews.

Key Responsibilities:

• Manage and develop a team of CDD/EDD investigators and specialists.
• Conduct and manage Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) reviews in line with regulatory requirements.
• Analyze the current CDD/EDD workload to assess and calculate the necessary staffing levels for ongoing compliance.
• Perform customer risk assessments and identify high-risk customers requiring enhanced due diligence.
• Oversee and coordinate annual reviews, leveraging contractors where necessary to ensure timely completion of work.
• Provide oversight of debanking and derisking procedures ensuring appropriate tracking and resolution.
• Ensure all CDD/EDD processes are in full compliance with internal policies and regulatory guidelines, especially those tied to the Written Agreement.
• Assist in implementing enhancements to CDD/EDD workflows and procedures as part of the Written Agreement’s actions.
• Collaborate with other compliance and risk teams to ensure accurate and timely reporting of customer data.
• Provide regular updates to management on the progress of CDD/EDD activities and staffing needs.
• Train and develop a team of CDD/EDD compliance specialists to promote growth and sustainability.
• Stay informed of regulatory changes related to CDD/EDD and advise on necessary process adjustments.

What Do You Need?

• Bachelor’s degree in business, finance, or a related field.
• 3+ years of experience in CDD, EDD, or a related area of compliance within the financial services industry.
• Banking experience strongly preferred.
• Strong understanding of regulatory requirements related to CDD and EDD, including the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations.
• Experience in managing high-risk customer reviews and compliance workflows.
• Strong analytical and organizational skills with attention to detail.
• Excellent communication skills and the ability to collaborate across multiple teams.
• Ability to manage contractors and external resources effectively.
• CAMS certification or similar compliance-related certification preferred.
• Must be legally authorized to work in the U.S. without sponsorship now or in the future.

Technology Skills:

• Ability to work with the Microsoft Suite and learn/work with other Customers Bank’s applications.
• Experience working with BSA/AML systems including Actimize, Prime, and Verafin preferred.

Customers Bank is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.
We also provide “reasonable accommodations”, upon request, to qualified individuals with disabilities, in accordance with the Americans with Disabilities Act and applicable state and local laws.
Diversity Statement:
At Customers Bank, we believe in working smart, working together, and having fun while delivering innovative solutions and memorable experiences for our customers. We are committed to the continual advancement of a culture which reflects the value we place on diversity, equity, and inclusion. We honor the diverse experiences, perspectives, and identities of our team members, and we recognize that it is their passion, creativity, and integrity that drives our success. Step into your future with us! Let’s take on tomorrow.

• Manage and develop a team of CDD/EDD investigators and specialists.
• Conduct and manage Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) reviews in line with regulatory requirements.
• Analyze the current CDD/EDD workload to assess and calculate the necessary staffing levels for ongoing compliance.
• Perform customer risk assessments and identify high-risk customers requiring enhanced due diligence.
• Oversee and coordinate annual reviews, leveraging contractors where necessary to ensure timely completion of work.
• Provide oversight of debanking and derisking procedures ensuring appropriate tracking and resolution.
• Ensure all CDD/EDD processes are in full compliance with internal policies and regulatory guidelines, especially those tied to the Written Agreement.
• Assist in implementing enhancements to CDD/EDD workflows and procedures as part of the Written Agreement’s actions.
• Collaborate with other compliance and risk teams to ensure accurate and timely reporting of customer data.
• Provide regular updates to management on the progress of CDD/EDD activities and staffing needs.
• Train and develop a team of CDD/EDD compliance specialists to promote growth and sustainability.
• Stay informed of regulatory changes related to CDD/EDD and advise on necessary process adjustments