Senior Risk Specialist BSA/AML

4 hours ago

Salt Lake, Utah, United States Federal Reserve Bank of Cleveland Full time
Senior Risk Specialist BSA/AML

We are seeking a highly skilled Senior Risk Specialist to join our Bank Secrecy Act (BSA) team within the Risk, Policy, and Analysis Group. As a Senior Risk Specialist, you will play a critical role in ensuring the safety and soundness of the banking system and financial markets by performing examinations of banks and U.S. offices of foreign banks, as well as inspections of bank, financial, holding companies and their non-bank subsidiaries.

Key Responsibilities:
  • Lead the planning, execution, and report writing for complex/high risk targeted BSA examinations, as well as participate in full-scope examinations of state member banks, foreign banking organizations, bank holding companies, and bank and non-bank subsidiaries.
  • Evaluate policies, procedures, and controls used by institutions to ensure compliance with the BSA and the USA Patriot Act and Office of Foreign Asset Control (OFAC).
  • Perform transaction testing to evaluate compliance with record keeping and reporting requirements as well as effectiveness of risk management processes and practices.
  • Assess the technical expertise of AML staff and management, as well as the independence and effectiveness of audits.
  • Prepare informative, well-supported supervisory products and work papers, effectively communicating complex and problematic supervisory findings, including required actions to banks' senior management and boards of directors.
  • Maintaining a high level of subject matter expertise and keeping abreast of emerging issues of particular relevance to the District, including trade-based money laundering, virtual currencies, Fin-Tech payment channels, and marijuana-related businesses.
  • Collaborating with risk management colleagues on their cross-portfolio assessments of BSA/AML risk and making risk-tailored supervisory recommendations.
  • Prepare and deliver written analyses and presentations on firm specific as well as broader industry trends or emerging risks. Provide briefings to senior District and Federal Reserve System staff and others in the supervisory community.
  • Present to industry groups as part of outreach efforts.
  • Providing mentoring and on-the-job training to examiners.
  • Participating actively in unit, Fed System, and other knowledge-sharing platform groups and discussions.
Requirements:
  • Typically requires a bachelor's degree in business, economics, finance, accounting, or a related field or equivalent experience.
  • Typically requires a minimum of eight or more years of direct or comparable banking, financial industry, or banking supervision experience with a focus in BSA/AML/OFAC subject areas.
  • Demonstrate a strong ability to influence effectively, resolve conflicts, and achieve collaborative outcomes to achieve supervisory goals, and build effective working partnerships.
  • Capacity to identify and pursue multiple initiatives simultaneously and deliver outstanding results with minimal or no supervision.
  • Strong written and communication skills in addition to an understanding of business risks, risk management, and banking principles.
  • Strong problem solving and analytical skills that support and enable sound decision-making.
  • Some travel is required, depending on one's assignments and location (up to 40%).
  • This position requires access to confidential supervisory information, which is limited to "Protected Individuals." Protected Individuals include, but are not limited to, U.S. citizens and U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so or who will sign a declaration of intent to apply for naturalization before they begin employment.

We offer a wonderful benefits package including: Medical, Dental, Vision, Pre-tax Flexible Spending Account, Backup Child Care Program, Pre-Tax Day Care Flexible Spending Account, Paid Family Care Leave, Vacation Days, Sick Days, Paid Holidays, Pet Insurance, Matching 401(k), and Retirement/Pension.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. The SF Fed is an Equal Opportunity Employer.

The Bank's ethics rules generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. Employees in the S+C group also must ensure there are no conflicts of interest related to their previous employment and current financial interests. S+C employees may be subject to borrowing and deposit restrictions and may need to recuse themselves from certain supervisory work. Please review Section 5.3 and Appendix B of the Bank's Code of Conduct to ensure compliance with the Code of Conduct conflict of interest rules and personal investment restrictions.

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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