Federal Reserve Bank Unit Leader - Anti-Money Laundering Specialist (BSA/AML) in New York City, New York
Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies.You willwork in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial service professional and the intelligence of an academic—all combined with a passion for public service. * * *What we do: * The Large and Foreign Banking Organization (LFBO) Function monitors and assesses the safety and soundness of Second District firms that are domestic or foreign-owned with U.S. operations over $50 billion in assets, excluding the LISCC firms. This is accomplished through a supervisory program that includes examination and monitoring to ensure that sound prudential risk management practices are in place and to identify essential risks and vulnerabilities, and compensating controls. The portfolio is distributed based on factors, including US and global business strategy and geographic location.
The FRBNY is looking for a Unit Leader to manage a team of BSA/AML Compliance Risk Specialists in the Risk and Analysis Department of the LFBO Function. The Unit Leader reports to the Compliance Risk Team Leader. The BSA/AML team leads and conducts mandated examinations of supervised financial institutions, monitoring of firms under enforcement action, and contributes to other examination and policy work conducted by the Compliance Risk and Analysis Department. The Unit Leader will have experience prioritizing resources and developing strategies to evaluate the compliance control framework of financial institutions concerning anti-money laundering (AML), sanctions, and counter-terrorist financing (CTF) regulations. This includes working with the BSA/AML Compliance Risk Specialists, Designated Supervisory Teams (DSTs), domestic and foreign regulators and partners across the Federal Reserve System. The Unit Leader will work with senior executives at supervised firms, Federal Reserve System management, legal staff, and policymakers across agencies. * * Your role as Unit Leader - Anti-Money Laundering Specialist (BSA/AML): * Provide clear supervisory messages to firms’ senior management and Boards of Directors; * Using a risk-based approach, determine the appropriate level of resources for examinations that evaluate firms’ compliance risk management practices and determine compliance with relevant anti-money laundering (AML) laws and regulations * Lead the team to assess the quality and effectiveness of an institution’s BSA/AML and OFAC compliance programs in relation to the inherent risks of the institution, supervisory expectations, and sound practices; * Review and approve the Compliance Risk Specialists’ deliverables, including examination reports, memoranda and work papers to support findings conforming to Federal Reserve expectations; * Lead efforts to further deepen the team’s expertise in the identification and management of risks posed by individual business lines and services; * Lead LFBO or System level programs for the LFBO portfolio and help develop supervisory policy; * Maintain and grow relationships with relevant U.S. regulatory agencies and foreign regulators for collaborative implementation of supervisory goals; * Foster a culture that encourages the sharing of diverse perspectives and collaboration across the Risk and Analysis Department, the LFBO Function’s Designated Supervisory Teams and other stakeholders within the Federal Reserve System.
What we are looking for: * Minimum of 10 years of experience with a focus on BSA/AML and OFAC compliance and related issues: financial institution compliance department, compliance consultant in the financial services industry, auditor, or bank examiner; * Experience with relevant laws and regulations and knowledge of bank operations, with a focus on BSA/AML and OFAC regulations; * Experience assessing, validating, designing, or managing risk management controls, automated monitoring systems, transaction surveillance, operations monitoring, reporting, and interdiction systems; * Bachelor’s degree, relevant advanced degrees or accreditations; * Deep knowledge of financial institutions and the financial services sector; * Desire to lead and contribute to ongoing efforts to implement new technology in the development of BSA/AML supervision; * Interest in participating in industry outreach and technical assistance programs. * * Benefits: Our organization offers benefits that are the best fit for you at every stage of your career: * Fully paid Pension plan and 401k with Generous Match * Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA) * Subsidized Public Transportation Program * Tuition Assistance Program * Onsite Fitness & Wellness Center * Flexible Work Arrangements * /And more which you can find//here/ * * /Please note that the position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements./ / / /In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules./ / / /The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service./ / / / /
Organization: *Federal Reserve Bank of New York
Title: Unit Leader - Anti-Money Laundering Specialist (BSA/AML)
Location: NY-New York City
Requisition ID: 264573