AML Officer

Manages the day-to-day aspects of the BSA/AML Compliance Program and conducts due diligence investigations to ensure the Anti-Money Laundering (AML) policies and procedures are in compliance. Assists in the development of AML programs and initiatives to prevent reputational, financial and compliance risk.

  • 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.

COMPETENCIES

 §  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.