The Compliance Anti-Money Laundering (AML) Risk Management Senior Officer is a senior 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 utilize established disciplinary knowledge to identify inconsistencies in data or result and formulate strategic recommendations on policies, procedures, and practices. This position is within Services AML and will cover all aspects of the Correspondent Banking and TTS/CCPS role. The individual will have a primary focus over and work closely with the business on Foreign Correspondent Banking (FCB) matters and also maintain duties over broader Services TTS North America advisory functions.
Responsibilities:
- Execute and implement firm-wide AML risk management policy and strategic direction. This includes representing AML on governance and management forums such as the Global Foreign Correspondent Banking AML Oversight Committee (CBOC).
- Maintain AML compliance program for the business including assessment of risks and the development of policies, procedures, and governance.
- Provide guidance for FCB AML team members as well as the business globally.
- Manage compliance relationships and requests for US domiciled FCBs and CBOC escalation agendas for North America.
- Identify and assess risk, vulnerabilities, and opportunities for efficient and effective risk coverage. This includes assistance in the development existing analytics tools and execution of reviews.
- Work within team and across business/functional line management to assess complex issues, structure potential solutions, and drive effective resolution within permissible statutory and regulatory frameworks.
- Participate in and evaluate New Product and New Activity proposals including performing an AML risk analysis. 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.
- Conduct AML risk reviews for existing Products within Services.
- Monitor AML related issues and escalations with senior management and global partners
- Evaluate and respond to escalated matters, further escalate as required, and advise senior management on next steps as needed
- Provide support and 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
- Manage AML Training Program for FCBs including the development of new training and execute testing against the Managers Control Assessment (MCA) as necessary.
MUST have experience and exposure in the following areas:
- Candidates must have a detailed knowledge of correspondent banking, payments and receivables, ecommerce, merchant acquiring and the risks they pose to the financial system from a financial crime perspective.
- Strong communication and presentation skills. Individual will be responsible for representing the second line on various governance committees and forums as well as in person and virtual client meetings.
- Technical experience and expertise in detailed analysis of new opportunities and products, and transactional data with an eye for the possible risks of the future.
- Candidate will need to navigate unclear regulatory situations and escalate issues/make judgments in a pressured environment.
- At a minimum, experience in this space is a must, but equally looking for flexibility in someone who can work on new ideas in a proactive manner.
Qualifications:
- 10+ years of relevant experience
- Anti-Money Laundering (AML) certification
- 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 analytical skills
- Demonstrated leadership and motivational skills
- Ability to work with regional and global partners, and influence and lead people across culture and senior level
- Good communication skills and ability to work independently
Education:
- Bachelors (4 Year University) Degree or equivalent experience required
- Masters (MS, MBA, etc) Degree preferred
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Job Family Group:
Compliance and Control--------------------------------------- ---------------
Job Family:
AML Compliance & Risk Mgmt-------------------------------------- ----------------
Time Type:
Full time------------------------------------- -----------------
Primary Location:
Jersey City New Jersey United States------------------------------------ ------------------
Primary Location Full Time Salary Range:
$163,600.00 - $245,400.00
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:
Jun 18, 2024---------------------------------- --------------------
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