The Compliance Anti-Money Laundering (AML) Risk Management Director is a senior management level position responsible for establishing internal procedures to prevent money laundering and assist in all matters concerning financial crimes in coordination with the broader AML team. The overall objective is to manage a team, utilize in-depth specialty knowledge to identify issues/problems and devise recommendations for complex situations.
Responsibilities:
- Lead and manage staff of AML professionals to accomplish goals and invest in the development of team members through the development and execution of AML training
- Develop and assist in the implementation of firm-wide AML risk management policy and strategic AML Compliance Risk Management (ACRM) direction as well as maintain the AML compliance program for the businesses
- Translate AML strategy and goals across Citi clients, products, and geographies in a succinct brief and clear manner as well as provide direction and guidance on the program
- Provide advice to the businesses regularly on new business initiatives, new products, business acquisitions, and client-related matters with respect to applicability of policies, resolution of potential red flags, or other client/transaction-related compliance escalations
- Work with business/functional line management in recommending, developing, and executing on business initiatives within permissible statutory and regulatory frameworks
- Assess complex issues, structure potential solutions, and drive effective resolution with other senior stakeholders
- Liaise with regulators and Citi internal audit staff for AML matters including coordinating AML related examinations, audit and reviews, document production, and issue replies
- Participate in and manage various internal assurance processes including regional enterprise wide and horizontal risk assessments, self-assessment, internal audit, and compliance testing review
- Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
Qualifications:
- 15+ years of relevant experience
- 8-10+ years of managerial experience
- Experience in managing regulatory exams and relationships with examiners and auditors
- Extensive knowledge of appropriate regulatory requirements including local and US laws, international and industry standards
- Extensive knowledge of AML regulations, risks, and appropriate controls
- Demonstrated leadership and motivational skills
- Ability to work with regional and global partners, and influence and lead people across culture and senior level.
Education:
- Bachelors (4 Year University) Degree or equivalent experience required
- Masters (MA, MBA, etc.) Degree preferred
- Anti-Money Laundering (AML) Certification
Citi’s Corporate Bank serves as the primary conduit of Citi’s full product suite by maintaining and managing Citi’s Institutional client relationships, and partnering with Services, Markets, and Investment Banking to provide a full array of solutions including cash management, foreign exchange, trade finance, custody, clearing and loans, capital markets, derivatives, structured products, and strategic advisory services.
The Corporate Banking AML Head is a leadership position in Citi’s Banking AML team, who manages a global team of AML Compliance professionals responsible for identifying, assessing, and managing Client AML Risk across the Corporate Banking business. The Corporate Banking AML Head will act as the primary liaison, collaborating across all three lines of defense to: achieve structured solutions to Client AML Risk issues while demonstrating “credible challenge,” promote effective end-to-end execution of Citi’s AML program, and drive consistent application of AML policies and standards worldwide. Finally, the Corporate Banking AML Head will also serve as a thought leader to advise AML colleagues providing oversight of business activities that are similar to or linked to Client AML Risk and Corporate Banking activity in other Citi business lines.
The successful candidate will be required to:
- Manage a global team of AML compliance professionals supporting the Corporate Banking business in managing Client AML Risk.
- Define and support AML specific compliance standards, processes, and controls to manage Client AML Risk.
- Collaborate with, and provide credible challenge to the Business, Operations, and other strategic partners for the design, implementation, and maintenance of controls to manage Client AML Risk.
- Provide AML compliance advice, guidance, and support to Corporate Banking on an ongoing basis with respect to the applicability of policies to clients engaged in High AML Risk industries (Extractive, Cannabis, Gaming, Virtual Assets), the resolution of potential AML Red Flags, and other client/transaction-related compliance escalations.
- Participate in various business and compliance governance and oversight forums (e.g. Business Risk and Controls Committees) as required.
- Advise on new business initiatives and evaluate risks associated with new products via the relevant Citi forums (New Product Approval Committee, AML New Product process)
- Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
- Participate in and manage or coordinate, as appropriate, various internal assurance processes, e.g. Enterprise wide and Horizontal Risk Assessments, Manager Controls Assessment, Compliance Assurance, Internal Audit or Compliance Assurance review.
- Liaise with banking and securities regulators during exams and other inquiries.
- Develop and execute product specific AML training, as required.
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Job Family Group:
Compliance and Control--------------------------------------- ---------------
Job Family:
AML Compliance & Risk Mgmt-------------------------------------- ----------------
Time Type:
Full time------------------------------------- -----------------
Primary Location:
New York New York United States------------------------------------ ------------------
Primary Location Full Time Salary Range:
$170,000.00 - $300,000.00
In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.
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Anticipated Posting Close Date:
Jul 10, 2024---------------------------------- --------------------
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Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
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