What is the Opportunity?
This position supports the AML Compliance function by executing various processes that maintain compliance with regulatory requirements and the firm’s
AML Program.
What will you do?
- Demonstrate industry, product, and process knowledge within area/department and to other areas within the firm.
- Conduct surveillance and investigative work to ensure the firm’s AML Program stays within expected parameters.
- Understand regulatory and firm risks associated with work processes, how work is processed from beginning to end, and dependencies to other areas and departments.
- Provide enhanced customer service, process/data analysis, and problem solving within the area/department.
- Handle sensitive and escalated matters with discretion
- Review and investigate alerts created from both automated and manual detection sources.
- Review client patterns from referrals, often relating to heightened issues, and other manual sources to identify situations requiring additional investigation.
- Utilize information found on internal systems (BETALink, Salesforce, ClientSource, PostEdge, etc.) as well as in the public domain to complete client and activity analysis and make informed conclusions.
- Initiate communication and escalate situations as necessary, engaging personnel within Compliance, Private Client Group, Clearing & Custody, and/or home office operations.
• Prepare concise, yet thorough, investigation summaries outlining relevant details to support a final outcome. - Complete accurate Suspicious Activity Reports for timely submission to FinCEN.
- Apply logic and AML knowledge to investigations on a case-by-case basis, recognizing the subjective nature of each individual situation.
- Review scanning alerts to identify and mitigate both AML and sanctions risk.
- Proactively identify and recommend improvement opportunities related to department processes, procedures, and the firm’s AML Program.
- Identify and communicate department guidelines, assist in building controls, and participate in data analysis, testing, and transaction monitoring alert reviews.
- Assist in the creation and amendment of job aids, policies, and procedures to ensure compliance and efficient practices.
- Participate in regulatory or audit documentation gathering, preparation, and analysis.
What do you need to succeed?
- 2+ years of experience in a broker-dealer/financial services/banking environment, with specific experience in AML, Compliance, or RBC Operations
- Bachelor’s degree, preferably in business, finance, accounting, or criminal justice
- FINRA Series 7 & 63 or 66, or willingness to obtain
- Knowledge of regulatory/compliance risk management and AML related requirements including BSA, USA PATRIOT Act, OFAC, and other applicable U.S. regulations
- Possess an understanding of the financial services industry, AML related regulations, and patterns of behavior that represent suspicious activity
- Knowledge of the securities industry and how it can be used for money laundering in order to provide effective guidance to other members of the department
- Excellent communication and interpersonal skills.
- Advanced computer skills – previous experience with databases and querying capabilities a plus
- Ability to prioritize and manage multiple tasks while ensuring that assigned job responsibilities
- Ability to understand and efficiently analyze information from multiple sources
- CAMS designations preferred
