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AML Compliance Risk Assessment Manager

  • Location: New York, NY
  • Job Type: Direct Placement
  • Ref No: 20-02914
  • Date: June 27, 2020
  • Job title:

Michael Ziegelbaum

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Job Description - AML Compliance Risk Assessment Manager

  

     
The New York Branch of a foreign banking organization is seeking an AML Compliance Risk Assessment Manager. The AML Compliance Risk Assessment Manager will work directly with the AMLRO of the branch and play a significant role in implementing policies, procedures, and other means to assess the risk appetite and aversion of the bank and the quality of the AML and Compliance programs. This role requires experience in a Risk Assessment function in which the sole focus or the focus was performing risk assessments. The AML Compliance Risk Assessment Manager will need at least 5-7years of experience performing sophisticated Risk Assessments duties at an FBO that does correspondent banking. 
  Responsible for enhancing and updating the BSA/AML and OFAC Risk Assessment Methodology, development of the annual risk assessment plan, executing and documenting the risk assessment with supporting documentation and reporting the results to senior management.
   
  Continued communication to the Senior Compliance Manager & Deputy MLRO on the updated BSA/AML and OFAC Risk Assessments Methodology and execution activities.
   
  Maintain effective channels of communication with business and other units to understand BSA/AML and OFAC risks and internal control mitigants for each area.
   
  Review, identify and document BSA/AML & OFAC inherent risks related to Geography, New Business /New Products/Services, Customers and Counterparties.
   
  Perform a critical review of assigned businesses and other units' mitigating controls for BSA/AML and OFAC (Controls, Policy, Procedures and Systems).
   
  Understand, monitor and incorporate specific BSA/AML and OFAC risks as well as the Bank's mitigating internal controls relating to customers, products & services, and geographies for assigned business units.
   
  Conduct both a quantitative and qualitative analysis on all the risk assessment factors.
   
  Own and execute the BSA/AML and OFAC risk assessments of New York Branch with the goal for the continual improvement of the Bank's risk assessment methodology.
   
  Assist the Bank's Senior Compliance Management with their interactions with the its primary regulators and Internal Audit during regulatory examinations and audits.
   
  Retain documentation/information and maintain AML Committee meeting minutes related to BSA/AML and OFAC Risk assessment as well as to other AML Compliance matters.

 




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