Head of Anti - Money Laundering Testing, Director Level

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POST DATE 8/31/2016
END DATE 12/19/2016

The Compliance Search Group New York, NY

New York, NY
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Full Time
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Our client, a global banking and financial services company, is looking to hire a Compliance Director. The Compliance Director will be responsible for the Anti-Money Laundering testing unit covering the institutional and high-end retail divisions.

The Anti-Money Laundering (AML) Head must be able to work independently as well as part of a team to perform risk and control analysis, execute testing, prepare issues and reports summarizing the review results, and track corrective action plans to completion.

The individual will be involved in AML compliance reviews covering various businesses divisions.

Compliance Testing (CT) is responsible for the execution of reviews of the Institutional Client Group, the company's Wealth Management , and the High Net Worth and Specialized Services divisions for compliance with firm policies, and applicable rules and regulations.

During these compliance reviews, Compliance Testing identifies the key risks and control points related to the processes under review. CT then tests those key control points, reports the results to Compliance and the business and other senior managers, and monitors to confirm that any corrective action plans are implemented.

The Compliance Director- Testing Head will support the Global Head of AML Testing in executing the AML Compliance Testing program as follows:

* Manage and advise a team of senior AML Compliance Testing professionals in the execution of the Global AML Compliance Testing.
* The Anti-Money Laundering Compliance Testing Head is responsible for overseeing AML Compliance Testing programs to ensure compliance with AML and OFAC/Sanctions regulatory requirements and applicable policies and procedures. This Director is expected to utilize an extensive, multi-disciplinary knowledge of AML compliance, control and risk management principles to provide an assessment of the AML risks at the company, how these risks are being managed and controlled, and the status of regulatory compliance.

* The primaryresponsibilities of the AML Compliance Testing Head will encompass: providing guidance to senior compliance, business and functional management in addressing complex AML compliance issues; facilitating an ongoing dialogue and exchange of information among AML Compliance Testing personnel; and collaborating withother compliance functions to continuously enhance the AML control environment. The AML Compliance TestingDirectorwill carry out the following activities in fulfilment of theseresponsibilities:

* Planning, management, oversight, and liaising with company Businesses, regional / product Compliance Testing, AML Compliance, and Operations and Technology to identify and address AML control and emerging risk issues.
* Developing, planning, and managing AML Compliance Testing reviews as well as other ongoing AML assessments. Assisting regional and product Compliance Testing teams with defining annual review plans related to AML.
* Analyzing AML review results to: identify trends and areas of emerging risks, and communicate analysis to internal stakeholders to ensure consistency in approach to monitoring and addressing AML emerging risks.
* Overseeing the development and enhancement of AML "Standard and Targeted Review Programs" to be utilized by Compliance Testing teams globally.
* Participating in AML governance forums to provide insight on the control environment and identified emerging risks.
* Coordinating regulatory, audit or third party activities related to AML Compliance Testing.
* Participating in the development of training resources and tools to support AML Compliance Testing resources and programs.


* Bachelor's degree,
* 10+ years in AML compliance, AML regulatory, AML audit or related experience, combined with an in-depth working knowledge of complex financial institutions' products, businesses and functions.
* Prior experience in examinations/auditing roles, and strong understanding of testing methodology, risk and controls analysis and business process mapping.
* Leading small to medium sized teams in audits/compliance reviews.
* Team player with demonstrable ability in influencing peers and senior management to accomplish shared goals.
* Strong presentation, program and relationship management skills.
* Excellent written and oral communication skills.
* Experienced in leading interactions with senior-level external stakeholders including regulators and auditors.
* Ability to collaborate, lead and supervise others to achieve objectives; knows how to lead through influence.
* Certification from the Association of Certified Anti- Money Laundering Specialists (ACAMs).