Role details

BSA/AML Manager

New York   •   USD120,000 - USD150,000   •  Permanent

Bullet points

  • Management Opportunity with a Global Bank
  • Excellent opportunity to progress quickly

About Our Client

My client, a financial services firm based in New York (Midtown) is a large foreign insititution who operate a variety of lines of business.

Job Description

The BSA/AML Manager will:

  • Liaise with the U.S. authorities in all regulatory BSA/AML and Sanctions compliance matters related to UOBNYA.
  • Provide support to business management with respect to any concerns, policy changes, business understanding, emerging issues, immediate concerns, projects and examinations and escalate issues to the Group BSA/AML and Sanctions Officer as necessary.
  • Ensure that UOB's global policies and procedures correctly reflect U.S. requirements.
  • Promote compliance and ensure that adequate corrective actions are taken with respect to any identified compliance violations and/or audit issues.
  • Direct management of all UOBNYA Compliance functions such as Transaction Monitoring & Reporting, Compliance Review & Reporting and the Customer Acceptance Program.
  • Undertake compliance monitoring and testing to validate business/support units' compliance with BSA/AML requirements.
  • Periodically, update Management on BSA/AML matters.
  • Escalate any matters requiring management decision.
  • Where there are significant Money Laundering risks related to the USD Banknotes Business, corporate lending or treasury, escalate to Group Anti Money Laundering Committee for a decision.
  • Manage UOBNYA Compliance team and conduct annual formal performance evaluations.
  • Update and maintain Program, Advisory and Training documentation, guidelines, procedures and processes.
  • Conduct an annual review of Sanctions Guidelines and Directives and ensure Compliance implements relevant procedures and controls.
  • Assess BSA/AML risks and impacts.
  • Advise and provide guidance on regulatory updates and industry practices.
  • Ensure timely response to any internal and external matters in which money laundering or terrorist financing is suspected (i.e. law enforcement requests).
  • Evaluate BSA/AML risk relating to new products and services and advise on risk-mitigating controls and monitoring initiatives.
  • Review the design of the Agency BSA/AML & OFAC Risk Assessment Methodology and update it at least annually or upon triggering events.
  • Manage the Annual Risk Assessment and ensure it is completed within the correct timeframe applying the Risk Assessment Methodology.
  • Assist the business in the remediation and mitigation of identified risk areas.
  • Refresh the enterprise-wide BSA/AML and OFAC Banknotes Training and Outreach Program materials annually.
  • Track enterprise-wide BSA/AML training completion results and ensure Agency is current on AML and Sanctions training.
  • Review all draft SARs and approve before submission to FinCEN.
  • Serve as UOBNYA point of contact for 314a FinCEN requests.

The Successful Applicant

The succesful BSA/AML Analyst must have:

  • 10+ years of experience in an AML/BSA and Sanctions Compliance Program management function.
  • Knowledge of the banknotes business, corporate lending, and Treasury services is preferred.
  • Experience liaising with regulatory agencies
  • Strong and effective communication skills and ability to translate complicated regulatory issues to management and personnel.
  • Experience in conducting enterprise-wide risk assessments.
  • Knowledge of applicable and effective risk management experience.

What's on Offer

Competitve base salary + Bonus + Benefits

Apply for this job

Click the Apply or LinkedIn button below or contact Grant Hall quoting job reference 1193626
As you are using an Apple iOS device we are unable to offer you the CV upload function. Please apply with your Linkedin profile below or contact Grant Hall quoting job reference 1193626