Compliance Manager - AML/Money Services Business

$100,000 - $110,000 yearly
  • The Resume Review - Recruiting Department
  • Brooklyn, Ohio, US; Buffalo, NY, US; Cleveland, OH, US
  • Oct 01, 2020
Full time Accounting Finance

Job Description

Job description
About the Job:

The Corporate Compliance Manager role is a manager role reporting to the bank’s Financial Crimes Governance Customer Due Diligence Director. The Corporate Compliance Manager maintains subject matter expertise of CDD customer risks and mitigation tactics, with special focus and strong understanding of risks involved with the following high risk customer types (Money Services Businesses (MSBs); Third Party Payment Processors (TPPPs); Casinos, Real Estate Mortgage Lenders and Originators (RMLOs), Precious Metals Dealers, and Correspondent Banks. Requires solid working knowledge of Customer Due Diligence Beneficial Ownership regulation. Candidates must have experience within the Money Services Business industry: working for an MSB, regulating (federal or state) an MSB, or focusing on risk management of MSBs within a financial institution.

The Corporate Compliance Manager and his/her team is responsible for oversight of risk-based customer due diligence with regard to AML high risk customers that are required to maintain an AML Program as well as making decisions regarding relationship retention or exit of such customers. The manager and his/her team may also be called upon to represent AML/BSA KYC interests and needs in new product/service and or vendor initiatives. The successful candidate possesses strong analytical, communication, sound judgment, and leadership skills and will be called upon to lead various initiatives that enhance upon the bank’s AML/BSA compliance program. The successful candidate will possess the ability to work independently, be a thought leader, execute upon strategies that mitigate AML/BSA risk to the bank and quickly recognize issues that require escalation to Senior Management.


Essential Job Functions:

The Corporate Compliance Manager will be responsible for oversight and providing guidance on the following:
  • Solid knowledge of AML/BSA banking regulations.
  • Review of new or changing regulations impacting the bank from a high risk customer perspective: E.g., money services businesses, third party payment processors, casinos, etc., and ensuring bank policies/procedures remain consistent with changes
  • Serves as source of subject matter compliance expertise with regarding various CDD risks, participating in resolving compliance issues and promoting effective and consistent management of compliance risks.
  • Help ensure lines of communication between the departments and business units/entities executing compliance requirements remain open and aligned with processes to gain efficiencies, avoid unnecessary redundancies, and coincide with business and customer risk profiles.
  • Work closely with AML operations support areas to ensure compliance with AML requirements including onboarding, enhanced due diligence, and investigations reviews.
  • Drive, or participate as stakeholder or team member on projects/initiatives as warranted by scope.
  • Participate in new business initiatives, new product development and product analysis.
  • Effectively and professionally interact with internal audit and/or regulatory agency personnel including answering examination information requests, addressing examination findings and discussing compliance processes and policies.
  • Promote a proactive compliance culture, delivering advice and guidance to the business/support functions.

Required Qualifications:
  • At least 5 – 7 years of banking compliance, MSB, or regulatory AML/BSA experience. Candidate must have experience with the Money Services Business industry: having worked for an MSB, regulated (federal or state) an MSB, or provided AML risk oversight of MSBs within a Financial Institution
  • A Bachelor’s Degree is required, with advanced degree(s) desired.
  • CAMS certification desired.
  • Excellent analytical and investigative skills
  • Excellent writing skills and the ability to succinctly convey information to senior business and compliance management
  • Exceptional ability to manage or otherwise support multiple programs in a fast-paced environment with changing priorities and significant time pressures
  • Strong attention to detail
  • High ethical standards