AML/KYC Remediation AVP

  • Negotiable
  • Jacksonville, FL, USA
  • Permanent, Full time
  • Deutsche Bank - US
  • 27 Sep 16

At Deutsche Bank, good compliance is everybody’s responsibility. The Compliance department’s core functions support good compliance practice to prevent and detect violations of all applicable laws, rules and principles that observe high standards of individual behavior and business conduct. Working closely with the business, compliance professionals ensure that our risk based program is both globally effective and locally anchored to our key divisional businesses. As an independent and robust second level control function, the Compliance Department seeks to manage compliance risk and deepen the culture of compliance at Deutsche Bank through the development and management of strategies.

Job Overview:
AML Compliance is responsible for Deutsche Bank’s overall Anti-Money Laundering Program, including oversight of the New Client Adoption (“NCA”) and Know Your Customer (“KYC”) processes.  The Anti-Money Laundering Compliance Officer (“AMLCO”) position will handle the KYC process for High Risk clients, with a specific focus on Regular (aka Periodic) KYC Reviews, Event Driven Reviews and remediation of KYC files for all businesses within Global Markets and Corporate Finance.
Job Description:

The GM/CF AMLCO (KYC) role Team Lead includes:

  • Conducting Event Driven Reviews (“EDRs”) for all GM/CF client accounts that are referred to AML Compliance by the Client Onboarding function.
  • The EDRs will involve review of the KYC files completed by the COB function to determine if updates are needed.
  • The EDRs will also involve the  clearance, investigation and further escalation of various high-risk triggers such as PEPs, negative media hits, high-risk geography, and other factors based on research due diligence.
  • Conducting Enhanced Due Diligence (“EDD”) reviews for various products/business lines on all new high risk accounts.
  • Performing QA testing of KYC files, documenting any deficiencies/findings, and discussing these deficiencies/findings with AML Compliance Management;  identified during QA testing.
  • Reviewing/enhancing/implementing AML policies and procedures taking into consideration minimum standards set by Global, Division and Local KYC Policies and Procedures.
  • Providing guidance and responding to queries from various internal groups (including the Front Office, the Middle Office, Client Onboarding, Legal, Advisory Compliance, etc.) relating to complex AML issues.
  • Facilitating the review of the overall AML Compliance program including risk analysis, periodic high risk account reviews, quality assurance reviews, and provide data on key performance indicators.
  • Providing support in coordinating/responding for requests for information for Internal Audit, Regulators and Law Enforcement as part of audits, examinations and investigations.
  • Keeping aware of new rules, regulations and reputational risks to develop implement and revise current policies and procedures.
  • Maintaining a thorough and current understanding of the regulatory environment and actively participating in processes both internally and externally to affect change beneficial to the firm.
  • Performing other duties as assigned.

Requirements:

  • Minimum undergraduate degree or equivalent
  • An advanced degree (e.g. JD, MBA, etc.) is a plus (not required)
  • Minimum 4-6 years of working experience in the financial industry within AML Compliance, Legal or Regulatory functions.
  • Superior knowledge of relevant AML laws/regulatory requirements, particularly with respect to investment banking and corporate finance.

Core Competencies:

  • AML Compliance, Legal or Audit experience, particularly in connection with KYC and the Regular Review process
  • Knowledge of corporate finance, investment banking and institutional broker-dealer (preferred)
  • Previous experience in connection with KYC reviews and/or remediation (preferred)
  • Strong interpersonal skills
  • High proficiency in written and oral communication
  • Strong research, investigation and analytical skills
  • Strong attention to detail
  • Ability to work autonomously and within teams
  • Ability to identify matters that require further analysis and investigation
  • Flexibility and ability to multi-task and change directions based on business demands
  • High proficiency in written and oral communication skills
  • Knowledge of financial markets, products and processes
  • Strong knowledge of Microsoft Word, Excel, PowerPoint and Access
  • Knowledge of 3rd EU Money Laundering Directive and other FATF AML priorities (preferred)
  • CAMS Certification (preferred, but not required)