Manager, Financial Crime Compliance

About us

CBA Institutional Banking and Markets (IB&M) division is responsible for managing the Group’s relationships with major corporate and government clients and institutional investors. IB&M provides a full range of capital raising, transactional and risk management products and services.

About the team

FC Risk Management is responsible for developing and deploying the risk frameworks to allow the Group to take financial crime compliance “FCC” Risks within a Board-approved appetite.

Risk Management ensures that the Group has appropriate strategies and frameworks in place to assess, manage and report on credit, market, operational, financial crime and regulatory compliance.

FCC provides support to the NY Branch and broker dealer and works with Head Office IB&M FCC, Group Regulatory compliance and the MLROs in the international offices to align financial crime Standards and Policies where practical. Globally the FCC teams protect the banks integrity, reputation and community by providing robust foundations and proactive support to enable the business to be confident in its accountability for managing Financial Crime Risk. Equipping the business units with simple fit for purpose frameworks, tools and advice to ensure proactive and effective identification and management of financial crime.

Picture yourself in the team

Your role will be to support the Americas Head of Financial Crime Compliance and partner with the New York and Global Financial Crime Compliance Teams together with any other relevant stakeholder(s).

Key Internal Relationships: Americas Head of Financial Crime Compliance and the Americas Branch Manager, Business Units, Operational Risk Line 1, FC Controls Office and Line 2 Teams globally.

Key external relationships include relevant regulators e.g. OCC, FRB and FINRA as well as Internal Audit and industry forums and bodies e.g. ACAMS, IIB.

You will be reporting directly to the Americas Head of Financial Crime Compliance, who is also the BSA Officer.

Do work that matters

Your main responsibilities will include

Respond to inbound ad-hoc advisory queries pertaining to BSA/AML and Sanctions matters affecting the business. This includes, but is not limited to, customer identification and due diligence, enhanced due diligence, customer risk scoring, policy and procedures maintenance, internal and external reporting.Advise and provide support related to high-risk customer relationships. Partner with the business to assist in effective risk decision making, e.g. provide guidance, internal policies, industry standards and regulations to enable them to manage the customer risk as it relates to Financial Crime Compliance.Responsible for completing the annual review of the FCC AML and Sanctions training. Include relevant industry or regulatory updates, distribute and track training completion in addition to managing 10 and 5 day reminders to staff as necessary to ensure completion.Ensure that all CBA New York's BSA/AML/Sanctions processes continue to provide an effective control environment that is consistent with regulatory requirements and expectations.Perform FCC quality assurance testing to ensure adherence to policies, procedures, service level agreements and Group systems that impact the BSA AML & OFAC program.Assist with monitoring Financial Crime industry developments and maintain advanced knowledge of new and amended laws and regulations pertaining to the business, ensuring that updates are communicated promptly to relevant stakeholders and throughout all relevant channels, e.g. updating the Branch or Broker dealer obligations register. Primary regulators include OCC, FRB and FINRA.Liaise with IB&M Financial Crime Compliance colleagues globally to develop enhancements to the effectiveness of Group automated transaction monitoring and payment sanction screening systems. Provide US subject matter expertise on how the program can be uplifted and ensure it meets USA BSA AML requirements.Responsilbe for overseeing the production of the Financial Crime Compliance report for management reporting to the Financial Crime Oversight Committee, which is a sub-committee of the Branch Risk Governance Committee.Participate in the annual Branch and Broker Dealer AML/CTF and OFAC Risk Assessments, and annual high risk customer and foreign correspondent transactional review.

We are interested in hearing from you if you have

3-7 years experience in an institutional bank or broker dealer compliance environment, preferably focused on financial crime related matters.Solid knowledge of regulatory and legislative requirements and industry guidance pertaining to AML, Sanctions, Financial Crime and Capital Markets Instruments and lending. Or, able to independently research and present conclusions on findings for further consideration by a Senior member of FCC.Critical thinker who enjoys performing root cause analysis around an issue and can provide solutions/actions to resolve the issue.Proven ability to function in an entrepreneurial atmosphere with limited supervision and capable of liaising and working collaboratively within the NY FCC and CBA's global FCC team.Motivated self starter who can adhere to strict deadlines in a fast-paced environment and maintains attention to detail. Team player with excellent people and time management skills who embraces change and enjoys learning new things.Experience providing advisory services specifically around policy clarifications.Ability to effectively multitask and successfully work on several unrelated projects at the same.Bachelors degree required; JD degree and ACAMs certification a plus.

The salary range for this role is from $95,000 to $130,000. The base salary may vary based upon several factors including, but not limited to, relevant skills/experience, time in role, base salary of internal peers, prior performance, business line, and geographic/office location.

In order to be considered, please indicate your minimum salary expectations and availability on the application form.

If you're already part of the Commonwealth Bank Group (including Bankwest, x15ventures), you'll need to apply through Sidekick to submit a valid application. We’re keen to support you with the next step in your career.

We're aware of some accessibility issues on this site, particularly for screen reader users. We want to make finding your dream job as easy as possible, so if you require additional support please contact HR Direct on 1800 989 696.

Advertising End Date: 20/04/2024