Director, Deputy to the BSA AML Officer, - Jersey City, United States - Royal Bank of Canada

Description

Job Summary

What is the Opportunity?

Support the BSA AML Officer of Royal Bank of Canada, Three World Financial Center Branch ("3WFC Branch") in oversight and execution of the requirements of the AML/BSA program for 3WFC Branch and provide ongoing AML subject matter and policy expertise to support Director, BSA AML Officer of 3WFC Branch, AML Operations and the field.

Job Description

What will you do?

• Actively support the BSA AML Officer with interaction(s) with Audit & Regulators and assist with the timely resolution of requests for information;
• Coordinate with the BSA AML Officer in remediating any Audit or Regulatory identified issues;
• Facilitate the development of controls for mitigating AML risks and identify gaps/remedial steps (issue management) meeting regulatory requirements and other expectations;
• Manage the New Business Committee (NBC) Financial Crimes requirements and process as it relates to new or expanding 3WFC Branch products and services to evaluate AML/OFAC risks and controls.
• Serve as an alternate to the BSA AML Officer on the NBC as well as coordinating with global CM AML & Financial Crime stakeholders on shared products;
• Supervise the Capital Markets FIU's transaction monitoring team's review and resolution of detection incidents (system alerts) generated;
• Oversee the Financial Intelligence Unit's closure of transaction monitoring alerts relating to customers' use of Cross Border Services;
• Review and advise, with the relevant teams, in the creation of AML surveillance rules, data feeds, interfaces, and address other issues required for the effective functioning of the AML monitoring system;
• Provide ongoing supervision, guidance, and assistance with Suspicious Activity Report filings for 3WFC Branch with FinCEN;
• Oversee AML investigations for 3WFC Branch (including those conducted by the Global CM FIU); coordinate Suspicious Activity and related regulatory reporting with other groups as appropriate;
• Provide oversight of the Cross Border service products, working with relevant cross border stakeholders (i.e. FIU, CB Quality Team, Canadian business managers, and Cross Border product team) to ensure effective oversight;
• Deliver tailored AML training to the business and infrastructure groups as needed, update training materials, and oversee the completion status of AML & Financial Crimes required training;
• Assist in the development and oversight of transaction monitoring models
• Assist in drafting the quarterly US CM Quarterly AML Report and presenting to the 3WFC Branch BSA AML Officer (i.e. metrics, analysis on trends, issue management etc.) and other reporting as applicable (i.e. regulatory);
• Provide regular updates to the Head of US CM AML, the 3WFC Branch BSA AML Officer and to 3WFC Branch Manager (where applicable), escalating significant issues when needed;
• Assist in the oversight of the expansion of the US Cash Management product and assessing of implemented controls;
• Primary liaison with the U.S. Director of Financial Crimes Oversight Testing relating to the 3WFC Branch testing program Conduct any supplemental testing reviews or supervisory reviews for US CM where applicable;
• Active member of the CUSO Financial Crime Management Committee;
• Assist with enhancements and updates to AML related policies and procedures on at least an annual basis;
• Act as subject matter expert with respect to AML & Financial Crimes requirements including handling AML inquiries from the front and back office and infrastructure groups;
• Manage US AML strategy related projects including project/task management and required documentation where applicable
• Assist in the RCM process relating to new regulations, guidance and enforcement actions impacting 3WFC Branch;
• Oversee and actively support the preparation of Business Unit and Product inherent AML/OFAC/ABAC risk assessments using RBC developed models and 3WFC Branch Risk Assessment;
• Maintain industry expertise through regular participation in AML related forums and training;
• Effectively exploit synergies across borders, areas of expertise, businesses, and functions;
• Leverage existing processes, tools and technology;
• Assist in the development and enhancement of internal AML controls;
• Assist with instilling a "culture of compliance and in ensuring that employees understand RBC vision, as well as support and reinforce targeted behaviors that contribute to achieving RBC goals;
• Leverage the value in unit, department, and enterprise wide teams to develop better solutions and achieve a cross enterprise mindset.
• Lead and manage a team of 2 direct reports

What do you need to succeed?

• Relevant experience of 7-12 years with an extensive knowledge of risk management and anti-money laundering related requirements including BSA, USA PATRIOT Act, OFAC, FCPA and other applicable U.S. regulations
• Strong knowledge of relevant predicate offences, e.g. Market Manipulation & Insider Trading
• In-depth knowledge of Banking and Capital Markets products, their trade lifecycles, settlement flows, and their use in Financial Crimes
• Knowledge in evaluating correspondent banking relationships
• Demonstrable knowledge of Capital Markets and Banking products and their use in Financial Crimes
• Knowledge of systems (especially related to suspicious activity monitoring}, technology and database management
• Skilled in Investigative Open Source research

What's in it for you?

• We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work
• Opportunities to building close relationships with clients

The good-faith expected salary range for the above position is $160,000 - $250,000 depending on factors including but not limited to the candidate's experience, skills, registration status; market conditions; and business needs. This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life, and disability insurance; and paid time-off plan.

RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging, and retaining talent that:

· Drives RBC's high-performance culture

· Enables collective achievement of our strategic goals

· Generates sustainable shareholder returns and above market shareholder value

Job Skills

AML Investigations, Anti-Money Laundering (AML), Business, Business Perspective, Communication, Decision Making, Financial Regulation, Interpersonal Relationship Management, Issue Management, Management Reporting, Mitigation, Operational Integrity, Organizational Governance, People Management, Regulatory Reporting, Strategic Thinking, Transaction Monitoring

Additional Job Details

Address:

GOLDMAN SACHS TOWER, 30 HUDSON STREET:JERSEY CITY

City:

Jersey City

Country:

United States of America

Work hours/week:

40

Employment Type:

Full time

Platform:

GROUP RISK MANAGEMENT

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

Application Deadline:

Inclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
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We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

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