Legal and Compliance Risk Examiner (AML Specialist) – Financial Institution Supervision recruitment
The Legal and Compliance Risk Department of the Financial Institution Supervision Group (FISG) is looking for qualified professionals to supervise the legal and compliance infrastructures of complex financial institutions under the Federal Reserve??s supervision. Through its assessment of risk management practices at financial firms, the Legal and Compliance Risk Department plays an important role in executing Federal Reserve safety-and-soundness and financial stability objectives.
The Anti-Money Laundering Specialist will focus on understanding and assessing the compliance control framework of financial institutions with respect to anti-money laundering (AML), sanctions, counter-terrorist financing (CTF), and internet gambling laws and regulations. The examiner will participate in and manage examinations of supervised financial institutions and may also be expected to contribute to other examination, analytical, or policy work conducted by the Legal Compliance Risk Department. The examiner will be expected to interact with senior executives at supervised firms and with senior supervisors, legal personnel, and policymakers at the Federal Reserve and other regulatory bodies.
Responsibilities
- Plan and conduct examinations to evaluate compliance with laws and regulations covering AML, sanctions, CTF, and internet gambling, such as the Bank Secrecy Act (BSA), requirements of Office of Foreign Assets Control (OFAC) and the Unlawful Internet Gambling Enforcement Act
- Assess the quality and effectiveness of an institution's BSA/AML and OFAC compliance programs in relation to the inherent risks of the institution, supervisory expectations, and sound practices
- Present findings to Federal Reserve and bank management and produce reports, memoranda and workpapers in support of findings conforming to Federal Reserve expectations
- Develop a comprehensive understanding of laws and regulations pertinent to AML, sanctions, CTF, and internet gambling
- Develop a strong familiarity with pertinent literature used by industry practitioners
- Develop subject matter expertise in the identification and management of risks posed by individual business lines, products, or services
- Participate in or lead other Legal and Compliance Risk Department examinations and special projects, perform analyses, and assist in the development of supervisory policy, as needed; and
- Collaborate with other regulatory agencies and with internal Federal Reserve stakeholders, such as legal and supervisory personnel
- Depending on experience, lead and manage individuals and projects; provide meaningful performance feedback, and provide training and coaching to junior examiners.
Skills
- For Risk Examiner, minimum of four years experience working in any of the following roles: financial institution compliance department; compliance consultant in the financial services industry; auditor; or, bank examiner -- experience with relevant laws and regulations and strong knowledge of bank operations are a plus
- Bachelor's degree; relevant advanced degrees or accreditations a plus
- Strong critical thinking, analytical and decision making skills
- Excellent written and oral communication skills, with the ability to deliver written and oral messages confidently and accurately
- Public service orientation a plus
- Strong negotiation skills and ability to build collaborative relationships
- Flexibility to adapt to new situations and work sites, including ability to travel; ability to function effectively in a dynamic and evolving work environment; and
- Strong prioritizing, planning, and organization skills
This position requires access to confidential supervisory information, which is limited to 'Protected Individuals' as defined in the U.S. federal immigration law. Protected individuals include, but are not limited to, U.S. citizens, U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.