BSA AML Officer BSA AML Officer …

FNZ
in Boston, MA, United States
Permanent, Full time
Last application, 14 Oct 20
Competitive
FNZ
in Boston, MA, United States
Permanent, Full time
Last application, 14 Oct 20
Competitive
FNZ is a global FinTech the market leading provider of technology and administration services to major financial institutions in the platform and wealth management sectors across the globe. We partner with life companies, banks, asset managers and discretionary wealth managers to enable them to develop and distribute financial products and services to their customers across all major distribution channels.

FNZ has a strong blue-chip customer base including Standard Life, Axa Wealth, JP Morgan, HSBC, AMP, National Australia Bank, Bank of New Zealand, Friends Life, Quilter, UBS, Zurich Financial. It has helped these customers grow to over $500 billion of platform assets in aggregate. FNZ now employs over 2000 people with offices in Scotland, Ireland, England, Nordics, Czech Republic, China, New Zealand & Australia

Role Description

Anti-Money Laundering/Bank Secrecy Act Compliance Officer based in Boston. This is an exciting opportunity for an Anti-Money Laundering (AML) professional to join a newly formed U.S. venture between State Street and FNZ.  This venture represents FNZ’s entry point into the U.S. marketplace which is a strategic long-term growth strategy for the firm.  The role would include shaping and overseeing an AML program for a newly created NH Trust Company offering Wealth Management services.  This role will suit an experienced AML professional that was worked in highly regulated retail finance and banking operations.

This role will include managing a team of AML professionals and overseeing all aspects of organizational compliance with AML laws and regulations, internal reporting and interactions with regulators and The Board of Directors.  AML Officer will work with vendors and IT providers to implement an effective technical infrastructure and will oversee all outsourced AML activities. 

Organizational Design

This role will report to the Chief Compliance Officer, The Board of Directors and business senior management.  AML Officer is responsible for managing a team of AML and sanctions compliance professionals in their independent monitoring of AML compliance with regulatory requirements and advising key business units in related regulatory and client compliance requirements.

Role Responsibilities

The AML Officer is responsible for all aspects of Organizational compliance with all  US related Anti-Money Laundering and Know Your Customer (AML-KYC) regulations and requirements and for implementation and administration of AML compliance program including internal controls, policies, procedures, training and testing the effectiveness of the program using industry standards and regulatory guidance.

AML Officer will establish and maintain relationships with regulators and business management and will provide reporting on BSA/AML/OFAC/KYC Compliance testing results to regulators, business management and Board of Directors to ensure that the organizational AML, OFAC and customer identification programs are in compliance with Regulatory Requirements, Policy and Procedures.

AML Program Management

  • Leads in the development and updating of Policies and Procedures related to performing and updating the BSA/AML and OFAC Risk Assessments and its methodology.,
  • Documents and maintains the units Policy and Procedures for the BSA/AML/OFAC Compliance Testing Program.,
  • Develops standard work programs and test scripts for the testing of business processes, procedures, and controls, both manual control processes and systems controls and maintain documentation and workpapers for examinations and reviews conducted.,
  • Stays abreast of BSA/AML/OFAC legal and regulatory matters affecting BSA/AML/OFAC examination program.,
  • Maintains effective channels of communication with business unit and infrastructure leads assigned to understand BSA/AML and OFAC risks and internal control mitigants of each area.,
  • Makes recommendations for corrective action including recommendations to enhance policies, procedures and processes., Modifies scripts and/or scope based on initial findings.,
  • Understands, monitors and incorporates the specific BSA/AML and OFAC risks and the mitigating internal controls relating to customers, products & services, and geographies for business/infrastructure units assigned.
  • Leads preparation and coordination of independent audits and regulatory examinations
  • Provides program assessment and reporting to regulators, board of directors and business management

Monitor

  • Oversee the review the program reporting provided by staff of the daily AML and sanctions compliance monitoring for account openings, KYC customer risk assessments and customer activity and financial transactions.
  • Review business requirements of key rules/reports utilized for compliance monitoring to ensure items accurately reflect the interpretation of applicable requirements.
  • Manage or oversee complex, strategic projects and significant regulatory initiatives related to AML.
  • Oversee customer identification program and customer risk analysis and reporting

Advise

  • Provide guidance to management and business unit partners on AML and sanctions compliance and regulation.
  • Keep abreast of global regulatory updates and interpretive releases. Collaborate with Legal to assess implications of new rules and regulations related to assigned areas.

Train

  • Oversee employee training relating to key AML and sanctions compliance policies and procedures.
  • Provide support to the Regulatory Training Team in the development and delivery of compliance training programs.

Competencies

  • Executes risk management process and procedures without management direction, and demonstrates awareness of expected results
  • Takes responsibility for achieving strong results, despite balancing multiple complex demands 
  • Must be able to write effectively, and present research, analysis and conclusions in a persuasive manner. Must be polished, professional, mature, well-mannered and well-spoken.
  • Ability to develop and foster strong interpersonal relationships and to maintain effective cross-functional teams throughout the organization. Demonstrated ability to effectively represent Compliance with industry peers and in client-facing situations is required.
  • Liaise with colleagues across the global on best practice and new regulation.

Qualifications

  • Bachelor's Degree; Business, Finance, or equivalent field or equivalent work experience
  • CAMS and CGSS designations, any relevant New Hampshire Banking Department (NHBD) requirements. 
  • Must have at least 10 years work experience with a minimum of 4 years of direct experience in retail financial services, banking or industry-related investment compliance.
  • Significant prior exposure to retail finance and banking operations and its related rules and regulations is required as is significant direct experience in a compliance-related function.
  • Knowledge of current AML laws and regulations that affect the organization's policies (BSA/AML/PATRIOT), including any relevant New Hampshire Banking Department requirements.
  • Knowledge of  regulatory and compliance risk methodology and standards
  • Must be proficient in MS Office (Outlook, Word, Excel, PowerPoint) and able to develop proficiency in our compliance systems as required to perform the duties of this position.
  • Able to work overtime as necessary to keep current with work

Equal Opportunities

We are an Equal Employment Opportunity Employer that is committed to inclusion and diversity. We also take affirmative action to offer employment and advancement opportunities to all applicants, including minorities, women, protected Veterans, and individuals with disabilities. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected Veteran status or any other protected characteristic.

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