Job Title:

AML Compliance Officer

Job Description:

As an Anti-Money Laundering Compliance Officer, you will be responsible for overseeing and managing the Firm’s AML, BSA, and OFAC compliance programs. You will work in conjunction with compliance and business colleagues to ensure adherence to regulatory standard and industry best practices. We are seeking to add a knowledgeable, driven, intellectually curious and experienced compliance professional to the compliance team led by the Chief Compliance Officer.

The candidate must possess an in-depth understanding of AML requirements driven by FINRA, SEC, MSRB, OCC, and blue-sky regulations. Additionally, the compliance officer should be able to:

• Be informed of the results of the business-wide money laundering and terrorist financing risk assessment
• Oversee and monitor the extent to which AML procedures are adequate and effective
• Review the exposure areas and take action
• At least once a year, review the activity report of the AML compliance officer and obtain interim reports more frequently for higher risk activities
• At least once a year, assess the effective functioning of the compliance function, including through audit
• Development of a risk assessment framework
• Development of policies and procedures
• Onboarding customers, including high risk customers with the New Accounts team
• Reporting to the management body
• Reporting suspicious transactions
• Firm-wide training and awareness

Responsibilities:

• Coordinate with external vendors for the internal annual AML audit, providing relevant documentation from all business lines to facilitate the audit process.
• Assist the Chief Compliance Officer in responding to inquiry letters and preparing Suspicious Activity Reports (SARs) as needed.
• Conduct research and provide guidance on new business models or account requests to ensure compliance with regulatory standards and internal policies.
• Manage the Bi-Weekly Financial Crimes Enforcement Network (FinCEN) file download and distribution process to the New Accounts Team, ensuring timely and accurate dissemination of information.
• Introduce and manage a Periodic Know Your Customer Review Program, including the development of templates and best execution procedures to enhance customer due diligence processes.
• Review Risk Ratings for new customers and assign internal AML Risk Ratings based on established criteria and guidelines.
• Collect and maintain records of Foreign Bank Certifications from Corresponding Clients, as well as AML Certifications/Wolfsberg Principal letters, ensuring compliance with regulatory requirements.
• Implement and conduct AML Compliance Training sessions for all employees, as well as update the Annual Compliance Training program for the firm to ensure ongoing compliance awareness.