What are the responsibilities and job description for the Director, BSA Officer for RBC Capital Markets, LLC and RBC CMA, Ltd - U.S. Financial Crimes position at Royal Bank of Canada?
Job Summary
Job Description
What is the Opportunity?
BSA Officer for RBC Capital Markets, LLC (“RBCCM LLC”) and RBC CMA, LLC (“CMA”). Develop, lead, & oversee key components of the Financial Crimes and ensure alignment to the overall RBC US Capital Markets Financial Crimes strategy.
What will you do?
Responsible for AML, Anti-Bribery Anti-Corruption (“ABAC”) and Economic Sanctions compliance
Tailor US and Global AML strategies to meet the needs of broker dealer and ensure the business is equipped to meet AML regulatory requirements to applicable local industry/regulatory requirements
Primary interface and subject matter expert for BAU and any business expansion through NBC or other, including new products & services (or changes to existing) that impact the broker dealer. Handling AML inquiries from 1LOD infrastructure groups considering all financial crimes risks
Develop, update, and oversee policies & procedures for the Financial Crimes Program. Ensure policies and procedures are in line with RBC Enterprise Policy expectations
Provide oversight, monitoring, and effective challenge of the control environment
Ensure that US AML regulatory obligations (BSA/USA PATRIOT Act/AML Act and updates to the CDD Rule) are met
Coordinate with Fraud Management & relevant stakeholders to ensure there is a process of escalation, investigation & reporting
Enhance anticipated activity requirements and ongoing refresh of anticipated activity to comply with the CDD rule
Primary Advisor and ongoing contributor relating to appropriate transaction monitoring typologies, data feeds, interfaces for the monitoring of activity booked to the broker dealer including the rollout of transaction monitoring and any future products approved through the new business committee
Develop internal controls for mitigating Financial Crimes risks and identify gaps/remedial steps (issue management) meeting regulatory requirements and other expectations
Primary interface with Internal Audit on behalf of broker dealer relating to annual/ongoing audit of Financial Crimes program
Primary interface with primary and key regulators (e.g., OCC, FRB, FINRA)
Attend & present to the RBCCM LLC Board on the Financial Crimes Program
Review, challenge and approval of relevant Model documentation and other required materials as part of the model lifecycle
Ensure compliance with all aspects of the BSA/AML Act of 2020/OFAC, including monitoring transactions, filing and approving SARs with FinCEN and other regulatory reporting requirements (i.e. OFAC)
Formal Member of the CUSO Financial Crimes Management Committee (FCMC)
What do you need to succeed?
10 years of relevant work experience
A deep and well-established understanding of relevant legislation, policies and industry best practices related to AML, Economic Sanctions & ABAC for both the U.S. and other key RBC regions/offices
A deep and well-established understanding of the broker dealer (e.g. securities; investment banking; etc.) and understanding of their associated overall financial crimes risks
Exceptional ability to apply regulatory requirements to development of risk-based, reasonable AML, Economic Sanctions and ABAC to relevant business models, as well as diversified products
Strong knowledge of compliance and regulatory risk management practices, and understanding of risk assessments, processes and reporting functions
Broad knowledge of banking and other financial products and understanding of their associated overall financial crime risks
Understanding of relevant emerging risks a plus (e.g. cryptocurrency)
University degree preferred
What’s in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
Leaders who support your development through coaching and managing opportunities
Ability to make a difference and lasting impact
Work in a dynamic, collaborative, progressive, and high-performing team
Opportunities to do challenging work
Opportunities to build close relationships with clients
The good-faith expected salary range for the above position is $160,000 - $250,000 (New Jersey), depending on factors including but not limited to the candidate’s experience, skills, registration status; market conditions; and business needs. This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan. RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:
Drives RBC’s high performance culture
Enables collective achievement of our strategic goals
Generates sustainable shareholder returns and above market shareholder value
#LI – Hybrid
#LI – POST
Job Skills
Adaptability, Critical Thinking, Customer Service, Detail-Oriented, Financial Engineering, Financial Statement Analysis, Investments Analysis, Personal Development, Personal Initiative, TeamworkAdditional Job Details
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Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above
Inclusion and Equal Opportunity Employment
At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.
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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at jobs.rbc.com.
Salary : $160,000 - $250,000
