BSA/AML Compliance Sr. Risk Specialist
Full Time
San Francisco, CA 94105
Posted
Job description
Company
Federal Reserve Bank of San Francisco
While the SF Fed is a Reserve Bank, we’re not what you might expect. We’re unreserved here. That means we seek new and diverse perspectives. We spark conversations and encourage debate. We build opportunity. We pursue careers that are true to ourselves. We are looking for people who want to help our country reach its full economic potential. When you join the SF Fed, you join a team of people working together to promote an inclusive economy that works for everyone.
The Supervision + Credit (S+C) Division executes supervision programs that promote safety and soundness of supervised institutions and the financial stability of the U.S. economy. One of the four supervision programs that is executed by S+C is the Large Institution Supervision Coordinating Committee (LISCC) program. The LISCC program is the Federal Reserve’s national supervisory program for the largest and most systemic financial institutions. The program is executed by hundreds of staff supplied by multiple Reserve Banks and the Board of Governors working collaboratively to provide Federal Reserve System-wide and cross-disciplinary perspectives on the supervision of firms in the LISCC portfolio. A core component of the LISCC program is the Governance and Controls (G&C) program.
The Governance and Controls pillar of the G&C program, which includes the Compliance Team, facilitates consistent assessments of how well Compliance, Bank Secrecy Act (BSA), Anti-Money-Laundering, and related risks are identified, measured, monitored, and controlled at each firm.
The Risk Specialist Team (RST) within S+C’s Risk, Policy and Analysis area includes individuals from the SF Fed who are members of the LISCC program.
The RST is looking for a Senior Risk Specialist to join its LISCC Compliance Team and be a member of the national LISCC Compliance Team.
Do you have a passion for bank supervision, Compliance/BSA/AML risk management, and risk controls? If so, please read on!
The Compliance Risk Specialist will: As a Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Sr. Compliance Risk Specialist, you will work in a dynamic, team environment and play an important role in helping the Federal Reserve carry out its regulatory responsibilities.
The Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Sr. Compliance Risk Specialist will be responsible for examinations, continuous monitoring, and evaluation of the compliance control frameworks of complex financial institutions with respect to AML controls, sanctions, and counter-terrorist financing (CTF).
The Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Sr. Compliance Risk Specialist will also contribute to other analytical and policy work conducted by the Governance & Controls Compliance Risk Group.
You will:
- Lead examinations and/or supervisory activities to evaluate the quality and effectiveness of firms’ compliance risk management practices and determine compliance with relevant BSA/AML laws and regulations and the requirements of the Office of Foreign Assets Control (OFAC).
- Monitor compliance with complex BSA/AML and OFAC enforcement actions and overall adequacy of corrective actions.
- Produce written work products to support findings and present findings to Federal Reserve and bank management.
- Interact with senior executives of supervised firms, Federal Reserve System/FRBSF management, legal staff, and policymakers across agencies.
- Maintain good working relationships with various stakeholders within the Supervision function, FRBSF legal staff, Federal Reserve Board staff and other regulatory agencies with respect to tactical and day-to-day aspects of supervision, examination, and enforcement activity.
Requirements:
- Typically requires a Bachelor’s degree in related field.
- Typically requires 7+ years of relevant experience in banking, financial industry, or banking supervision; or an equivalent combination of education and experience.
- Demonstrated understanding of relevant laws and regulations, strong knowledge of bank operations, with a particular focus on BSA/AML, financial crimes and sanctions risks and controls, and remediation of regulatory findings.
- Experience in assessing, validating, designing, or managing various risk management controls, automated monitoring systems, transaction surveillance, operations monitoring, reporting, and/or interdiction systems is a plus.
- Subject matter expertise in one or more areas, such as private banking, trade finance, correspondent banking, cryptocurrency, data/system validation, and payment message standards. Strong knowledge associated with examination techniques and strategies as well as good knowledge about risk and mitigation trends.
- Flexibility to adapt to new situations and work sites, including ability to travel. Superior written and oral communication skills, with the ability to synthesize complex ideas and communicate them clearly.
- Ability to take initiative, drive results under tight time constraints, and manage effectively given rapidly evolving priorities.
At our Bank, we have always embraced telecommuting. This role is a hybrid work arrangement requiring 2 days in-office time and a generous telecommuting option. We know flexibility is very important to our employees, especially now. This position also requires 25% travel.
Base Salary Range: Min: $151,200 Mid $199,600 Max $247,900 (Location: San Francisco)
Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and alignment with geographic and other market data.
At the Federal Reserve Bank of San Francisco, we offer a wonderful benefits package including Medical, Dental, Vision, Pretax Flexible Spending Account, Paid Family Leave Care, Backup Child Care Program, Pretax Day Care Flexible Spending Account, Vacation Days, Sick Days, Paid Holidays, Pet Insurance, Matching 401(k), and an unheard-of Retirement / Pension.
We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.
At the SF Fed, we believe in the diversity of our people, ideas, and experiences and are committed to building an inclusive culture that is representative of the communities we serve. The SF Fed is an Equal Opportunity Employer.
#LI-Hybrid
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Bank Examination
Work Shift
First (United States of America)
The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.
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