Sr. Consultant, Business Unit Compliance
Responsible for overseeing the implementation and execution of Corporate Compliance programs within the business unit, in order to support the business unit in complying with current and proposed Anti-Money Laundering (AML) and Know Your Customer (KYC) laws and regulations. Provides consultation and advice to Corporate Compliance and other Business Unit (BU) partners regarding business unit functions. Participates in the establishment of business development strategies to minimize AML risk and assure compliance with applicable AML/KYC laws and regulation and is accountable to BU management.Major Duties
- Advises Corporate Compliance and BU partners of actual or proposed developments in the business that may be affected by applicable AML/KYC laws, regulation, or policy, or by actual or proposed changes thereto.
- Implements Corporate Compliance AML/KYC programs within the BU and acts as a contact point within the BU for inquiries from Corporate Compliance partners, internal auditors, or external regulators.
- Promotes actions to comply with Corporate Compliance and BU AML/KYC standards, as necessary; and to resolve compliance issues, including actions in response to internal audit or regulatory exam findings.
- Assists BU partners with the vetting/onboarding of ultra-high net worth and high risk prospects and ensures that all AML/KYC requirements are met.
- Compose and distribute AML Advisories and job aids to be used by the BU Partners.
- Facilitate AML/KYC training for the BU Partners and participate in business unit meetings / presentations as needed.
- Assists BU senior management in implementing Corporate Compliance AML/KYC programs in the business unit, including identifying partners who are required to take certain compliance-related training.
- Identifies processes and procedures which may need to be enhanced to comply with BU AML/KYC compliance guidelines; and participates in the conducting of compliance risk assessments.
- Escalates situations to BU management which may pose significant AML/KYC compliance risk; and recommends updates to policies & procedures and enhancements to business unit controls that minimize the risk.
- Interacts with business partners, internal auditors and external regulators on AML/KYC regulatory compliance matters.
- Operates independently; has in-depth knowledge of AML/KYC compliance risk avoidance.
- Serves as an AML/KYC compliance resource within the business unit.
- Reviews work of others.
- Serves as project lead when and as necessary to implement Corporate Compliance AML/KYC programs within the business unit.
- Knowledge of risk management and strategic goals for the business unit.
- Knowledge of AML/KYC laws and regulations that apply to the business, acquired through formal education or work experience, is required.
- Analytical and communication skills are necessary to analyze and summarize information; and to consult with and communicate information to partners/clients.
- Organizational skills required to coordinate business unit compliance-related activities.