AML & Compliance Testing Associate

Hightower•Chicago, IL

19h•Hybrid

About The Position

The Senior Associate, AML & Compliance Testing is a dual-hat role with primary responsibility for administering the firm’s Anti-Money Laundering (AML) program under the Bank Secrecy Act (BSA) for its FINRA regulated broker-dealer (BD) operations and SEC-registered investment adviser (IA) as well as supporting risk-based compliance testing across our IA operations. The role requires a strong understanding of the differing regulatory obligations applicable to broker-dealers and registered investment advisers, including AML applicability, fiduciary obligations, disclosure requirements, and supervisory controls.

Requirements

Bachelor’s degree or equivalent professional experience.
3-7+ years of experience in compliance, supervision, or a related function within a broker-dealer or RIA, with specific BSA/AML experience required.
Strong working knowledge of FINRA Rules 3310, 3110, and 3120; BSA/AML regulations, and SEC Advisers Act requirements.
Strong analytical, investigative, and problem-solving skills.
Excellent written and verbal communication skills for regulatory and executive audiences.
Ability to assess and articulate regulatory distinctions between BD and IA requirements.
Independent judgment with a collaborative, risk-based approach.
Strong organizational and project management capabilities.
You are a U.S. citizen, U.S. permanent resident or possess other unrestricted U.S. work authorization and will not require sponsorship for U.S. work authorization now or anytime in the future.

Responsibilities

Serve as the firm’s designated AML Compliance Officer pursuant to FINRA Rule 3310.
Own, maintain, and enhance AML Program, including policies, procedures, and internal controls.
Oversee Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD).
Ensure all OFAC checks are accomplished and documented.
Review transaction monitoring alerts, exception reports, and surveillance outputs related to broker-dealer activity.
Investigate potential suspicious activity and prepare, review, and file Suspicious Activity Reports (SARs) with FinCEN.
Manage AML-related regulatory requests, law enforcement inquiries, and information-sharing obligations, including Sections 314(a) and 314(b).
Ensure that annual AML training is delivered to registered representatives and applicable staff.
Oversee AML service providers, surveillance tools, and clearing firm relationships.
Perform independent testing of compliance controls for BD and IA requirements, including supervision, fiduciary duty, disclosures, conflicts of interest, communications, and recordkeeping.
Conduct walkthroughs, sample testing, and root-cause analysis to assess control design and operating effectiveness.
Prepare clear, regulator-ready testing reports with findings, risk ratings, and corrective action recommendations.
Track remediation efforts, validate closures, and maintain testing documentation for regulatory review.

Benefits

Medical insurance
Dental insurance
Vision insurance
Paid parental leave (16 weeks for primary caregiver and 8 weeks for secondary caregiver)
Mother's lounge onsite
Flexible PTO plan
Free gym in the Chicago office
401k matching plan
HSA employer contributions
Student loan assistance
Pet insurance