Financial Crimes’ Anti-Money Laundering Manager – Grant Thornton

Job details

Job Type
Full-time

Full Job Description

Financial Crimes (AML) Risk, Compliance and Controls: Today’s organizations are challenged with more risks than ever before that can impact their bottom-line and reputation. The requirements of the Bank Secrecy Act (BSA), anti-money-laundering (AML) and Office of Foreign Assets Control (OFAC) sanctions laws and regulations are pervasive and longstanding, yet they continue to vex institutions trying to comply with them. Regulators have issued enforcement actions against virtually all large banks, and many nonbanks, for failures to meet their BSA/AML and OFAC-related obligations or conditions imposed in written agreements, resulting in hefty fines, high costs of remediation, and reputational damage to institutions, as well as penalties and criminal prosecution against individuals. New AML and sanctions laws, rules and regulations are making compliance more, not less, challenging.

Grant Thornton’s team of Financial Crimes AML advisory specialists helps businesses independently assess the adequacy of their BSA/AML and OFAC compliance programs to meet their regulatory obligations as well as assess the design and operating effectiveness of their internal controls taking into consideration each institution’s unique risk profile. There is no “one size fits all” when it comes to BSA/AML and OFAC compliance program management so recommendations for improvement must be right sized to fit each institution and its evolving risk.

Financial Crimes’ Anti-Money Laundering Advisory Manager

Position Summary:

The Financial Crimes Advisory Manager is primarily responsible for helping execute outsourced/co-sourced internal audits of client’s anti-money laundering (AML) and sanctions compliance programs. Other duties may include helping execute regulatory issue validation or compliance assurance engagements for institutions under consent order, written agreement or other regulatory matter requiring attention related to violations of their BSA/AML and OFAC-related laws, rules and regulations; independent reviews or compliance assurance testing on behalf of the second line compliance function; or other advisory function such as policy and procedure, risk assessment development / enhancement, remediation assistance, or lookbacks.

Essential Duties and Responsibilities:

• Support co-sourced and outsourced BSA/AML/OFAC internal audits and regulatory issue validation engagements which may include planning, executing, and reporting. The internal audit scope and approach is tailored to client’s risk profile and client-specific requirements but generally includes assessment of the following program areas: BSA/AML Program, Governance and Oversight, Risk Assessment, Training Program, Customer Identification Program (CIP)/Customer Due Diligence (CDD)/Enhanced Due Diligence (EDD), Transaction Monitoring Alert Management, Case Investigation, and Suspicious Activity Report (SAR) Filing, OFAC/Sanctions Compliance, Regulatory Reporting and Information Sharing, and Recordkeeping and Record Retention.
• Obtain understanding of clients’ business, risk profile, policies, procedures, processes, controls and in-scope systems. This is generally accomplished through walkthrough, interview, inquiry, observation and/or inspection of available BSA/AML/OFAC program documentation.
• Develop and execute internal audit work programs and control test procedures based on client’s risk profile, audit scope and period, and applicable regulatory guidance, e.g., FFIEC BSA/AML Examination Manual.
• Perform control design effectiveness assessment and operating effectiveness testing in support of the BSA/AML/OFAC internal audit as well as regulatory issue validation engagements.
• Apply knowledge of BSA/AML and OFAC sanctions trends, systems and processes to evaluate findings for significance and risk and develop value-added recommendations.
• Participate in the creation and tracking of engagement work plans, timelines, budgets, project management, status updates, and resource allocations
• Train and mentor Associates and Interns on engagements and assess performance and provide feedback.
• Maintain good working relationships with clients to enhance client satisfaction.
• Contribute to and support client service teams on multiple AML engagements and compliance program initiatives.
• Research, analyze, and understand current marketplace issues and emerging regulatory requirements and guidance
• Manage and minimize engagement risk by proactively identifying issues and recommended courses of remediation.
• Actively participate in recruiting top talent to the firm.
• Attend professional development and networking events and training seminars on a regular basis.
• Adhere to the highest degree of professional standards and strict client confidentiality.
• Other engagements could include policy and procedure development/enhancement, lookbacks, compliance assurance, etc.

Qualifications

• Bachelor’s degree. Advanced degree is a plus.
• 6 to 10 years of related work experience with a professional services firm, or as part of an Internal Audit, Compliance Assurance, or AML compliance related function.
• CAMS, CAMS-Audit, CGSS, CRCM, ACFCS, CIA, PMP, or similar license/certification required.
• Prior relevant internal audit, advisory or BSA/AML and OFAC sanctions experience required
• Examination experience or extensive knowledge with one or more of the following agencies (FRB, OCC, FDIC, FinCEN, or SEC) and/or ex-AML or Compliance Officer from a nationally recognized institution
• Ability to identify and understand common money laundering schemes
• Understanding of BSA/AML legal and regulatory environment; including laws, regulations, and guidance promulgated under the BSA and USA PATRIOT Act
• Has solid hands on experience working in two or more of the following areas:
  • Internal audit, independent reviews, regulatory issue validation, and/or compliance assurance
  • AML and OFAC compliance program policy and procedure development
  • AML and OFAC risk assessment
  • KYC: Customer risk rating (CRR), customer identification program (CIP), customer due diligence (CDD) or enhanced due diligence (EDD)
  • Transaction monitoring/FIU: Alert clearing, case investigations and suspicious activity reporting (SAR)
  • OFAC screening, reporting, system list updates
  • Enforcement actions remediation
  • Transaction monitoring or OFAC sanctions system model validation
  • Vendor solutions in KYC, Transaction Monitoring, Case Management or OFAC
• Excellent verbal and written communication skills.
• Ability to work additional hours as needed.
• Ability to travel as required.