- Assists in the overall design and implementation of the AML Compliance Program to ensure that it reflects US regulatory requirements.
- Assists in the development and enhancement of existing BSA/AML and OFAC policies and procedures as well as the PEPs/Sanction Regimes policies.
- Communicates all regulatory changes in the AML/Financial crime area and advises the business on AML policies/procedures.
- Conducts investigations of clients or potential clients to detect possible violations of the Bank Secrecy Act (BSA), including all relevant sections of the USA PATRIOT Act, and determines if a Suspicious Activity Report is required. Prepares SARs as needed.
Assists in the development and implementation of monitoring and surveillance reports.
- Performs periodic AML related testing and assists with setting monitoring parameters.
- Manages all AML aspects of responses to internal and external examiners.
- Leads AML Training to employees at the firm.
- Advises on client on-boarding files prior to account opening to ensure appropriate KYC documentation has been obtained and adequate due diligence has been conducted.
- Coordinates the annual independent AML audit.
REQUIRED KNOWLEDGE AND EXPERIENCE
§ Bachelor's degree from an accredited college/university preferably in accounting, finance, economics or related discipline.
§ A minimum of 7-10 years of compliance experience with 5 years of experience in AML compliance, within the financial services industry (within a broker dealer and/or a future commission merchant).
- A strong knowledge of U.S. AML laws and regulations including the USA PATRIOT Act, Bank Secrecy Act and OFAC sanctions program.
- Experience with and exposure to internal control functions and regulators within the US, and in particular banking/securities AML regulators.
- Series 7 preferred.
§ Strong organizational and effective communication skills, including presentations and public speaking.
- Must be highly flexible, multi-task oriented and capable of changing directions based on business demands.
- Team-oriented with strong interpersonal skills, ability to manage conflict and deal with pressure in a positive manner.