AML Compliance Specialist

2 weeks ago

Jersey City New Jersey, United States Lord Abbett Full time

Position Overview:

About Lord Abbett:
Established in 1929, Lord Abbett stands as an independent entity dedicated solely to the management of assets.

Throughout our journey, we have cultivated a distinguished reputation for our leadership, influence, and innovative approaches within the asset management sector.

Our independent viewpoint, commitment to active management, and intelligent product design keep us relevant to both individual and institutional investors.

Recognizing that our personnel are our most valuable resource, we prioritize intellectual curiosity, teamwork, and collaboration throughout our organization.


We seek individuals who possess a genuine interest in contributing to a reputable leader in the asset management field, a willingness to broaden their expertise, and a commitment to delivering a client experience that surpasses expectations.

Are you prepared to join us in shaping our future?


The AML Compliance Specialist plays a crucial role in ensuring robust controls, effective policies, and transparent procedures are established to comply with all regulatory mandates.

The ideal candidate will manage and execute regulatory submissions, supervise Lord Abbett's AML and financial crime initiatives, and identify and monitor suspicious activities related to AML and financial crimes.

In instances where AML cases arise, the AML Compliance Specialist will conduct thorough research, document investigations, and provide initial recommendations to the Compliance Leadership team.

Beyond AML responsibilities, the specialist will also support other essential Compliance functions, including electronic communications assessments, branch examinations, and regulatory inquiries.


Key Responsibilities::

Review AML & Customer Identification Program (CIP) protocols of primary service providers.

Gather and evaluate documentation for Client Identification Program (CIP) processes and ongoing updates.

Conduct AML and CIP investigations as required.

Establish investigative and data analytics strategies, employing sound judgment and discretion to mitigate corporate risk at each decision point during investigations.

Provide recommendations for filing Suspicious Activity Reports (SARs) by presenting supporting documentation and preparing SARs as necessary.

Coordinate regulatory examinations, submit required filings, and respond to inquiries for all Lord Abbett entities.

Maintain Written Supervisory Procedures and Compliance Manual for the Broker Dealer.

Manage responses to inquiries related to money laundering, including due diligence questionnaires and requests for proposals.

Address electronic communications exceptions as they arise and escalate to leadership when necessary.

Conduct Office of Supervisory Jurisdiction (OSJ) and Branch examinations for the broker dealer.

Provide backup support for all broker dealer licensing and registration requirements.

Undertake ad hoc projects or tasks as assigned by the Team Leader.

Qualifications::

A Bachelor's degree or equivalent experience in the industry.

A minimum of 5 years of experience in asset management, preferably in AML, KYC, and/or Regulatory Management.

Experience in reviewing customer transactions for potentially suspicious activities and conducting AML-related investigations using automated monitoring software.

Familiarity with laws governing money laundering, including the Bank Secrecy Act (BSA), The USA Patriot Act, FinCEN requirements, and SAR obligations.

Some experience in drafting and maintaining policies and procedures within an Asset Management context.

Exceptional research skills, including proficiency with online research tools.

Advanced skills in Microsoft Office Suite (i.e., MS-Word, MS-Excel, MS-Access, MS-PowerPoint, and MS-Outlook).

Strong writing, analytical, decision-making, problem-solving, and communication abilities.

Able to manage multiple tasks and complete projects within established timelines.

Excellent organizational and time management skills.

Why Choose Lord Abbett?
Lord Abbett is a prominent global independent investment management firm.

We are active managers who invest where we believe we can consistently deliver value for our clients.

Our vision is to be the most respected asset manager globally, recognized for our people, performance, relationships, and organizational agility.

This vision is supported by the three pillars of our culture:

Principles-Led - We empower our leaders to foster an environment of trust.

Performance-Oriented - We encourage our employees to embody our values of excellence, responsibility, transparency, and collaboration.

Purpose-Driven - We instill a commitment to always prioritize our clients' interests.


We take pride in being recognized as one of the Best Places to Work in Money Management by Pensions & Investments and achieving a 100% score on the Human Rights Campaign's Corporate Equality Index, a measure of LGBTQ+ workplace equality.


Compensation Overview:
The annual base salary for this position ranges from $120,000 to $145,000. This salary is an estimate for the role, and actual compensation may vary.

Discretionary Bonus:
This role may qualify for an annual discretionary bonus, determined by various factors, including firm, team, and individual performance.

Benefits:
Lord Abbett is dedicated to providing a competitive total rewards package to all eligible employees, including competitive compensation, retirement plans, and comprehensive health and wellness programs. To learn more about our offerings, please visit our website.

Lord Abbett is an equal opportunity employer, committed to providing equal employment opportunities to all qualified individuals without regard to legally protected characteristics, including race, color, religion, sex, pregnancy, national origin, age, physical or mental disability, marital status, sexual orientation, sexual identity, caregiver status, military/veteran status, or any other characteristic protected by local, state, or federal law.

All employment decisions at Lord Abbett are based solely on the applicant's relevant experience, skills, and qualifications.

Important notice to Search Firms - Please Read Carefully


Without prior written agreement, Lord Abbett does not accept unsolicited submissions from employment agencies, search firms, placement services, or any similar provider for employment opportunities.

All candidates submitted by Search Firms to any employee or partner at our company without a written Search Firm agreement in place will be deemed the sole property of our company.

In such circumstances, no fee, commission, or other compensation will be paid to such Search Firm in the event a candidate is hired by our company.

To the extent a Search Firm has a written agreement in place, all introductions are position-specific and should be directed to HR or the hiring manager, so we kindly request no unsolicited phone calls or emails.

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