Associate Director, Deputy to the BSA AML Officer, RBC Capital Markets, LLC & RBC CMA, Ltd - U.S. Financial Crimes

Royal Bank of Canada•Jersey City, NJ

17h•Onsite

About The Position

Support the BSA AML Officer of RBC Capital Markets, LLC (“RBCCM LLC”) and RBC CMA, Ltd (“CMA”) in the oversight and execution of Financial Crimes requirements for the broker dealer. Provide ongoing financial crimes subject matter and policy expertise to support the BSA AML Officer, and with 1LOD, 2LOD, and 3LOD. Assist the BSA Officer with oversight, monitoring, and effective challenge of the control environment.

Requirements

University degree or equivalent experience
Extensive knowledge of risk management and anti-money laundering related requirements including BSA, USA PATRIOT Act, OFAC, FCPA and other applicable U.S. regulations
Strong knowledge of the broker dealer (e.g. securities; investment banking; etc.) and understanding of their associated overall financial crimes risks, e.g. market manipulation & insider trading
In-depth knowledge of Capital Markets products, their trade cycles, settlement flows, and their use in Financial Crimes
Strong ability to apply regulatory requirements to development of risk-based, reasonable AML, Economic Sanctions and ABAC to relevant business models, as well as diversified products
Ability to produce quality work under strict deadlines, and to effectively prioritize and complete multiple projects

Nice To Haves

Understanding of relevant emerging risks preferred (e.g. cryptocurrency)
Exceptional written, verbal communication, and analytical skills
Strong organizational/time-management skills
Strong inter-personal/relationship management skills
Attention to detail, and a methodological approach to analysis
Leader, highly adaptable, organized, reliable, team player, self-starter.
Ability to impact and influence
Intuitive and inquisitive thinker – demonstrated critical thinking skills
Innovative and Digital Thinker
Ability to understand and articulate financial crime risks as perceived in specific cases and more broadly

Responsibilities

Lead in drafting the quarterly US CM Quarterly AML Report and presenting it to the US Head of Financial Crimes and US senior financial crimes management (i.e. metrics, analysis on trends, issue management etc.) and other reporting as applicable (i.e. regulatory) with oversight from the BSA Officer
Actively support the BSA AML Officer with Audit & Regulator engagement and assist with the timely resolution of requests for information, reporting and remediation of findings
Ensure that US AML regulatory obligations (BSA/USA PATRIOT Act/AML Act and updates to the CDD Rule) are met
Interface with primary and key regulators (e.g., FRB, FINRA)
Facilitate the development of controls for mitigating financial crimes risks and identify gaps/remedial steps (issue management) meeting regulatory requirements and other expectations
Support the BSA Officer in managing the New Business Committee (NBC) Financial Crimes requirements and process as it relates to new or expanding products and services to evaluate financial crimes risks and controls as well as coordinating with global CM Financial Crime stakeholders on shared products
Provide material input into the output of RCM relating to new regulations, guidance and enforcement actions impacting the broker dealer (CUBE) to ensure regulatory compliance, alignment with best practices and address emerging risks
Assist the BSA Officer with oversight, monitoring, and effective challenge of the control environment
Deliver tailored AML training to the business and infrastructure groups as needed, update training materials, and oversee the completion status of Financial Crimes required training
Support the BSA Officer to provide material input into the Risk Assessment and RCSA for the broker dealer
Advise on product risk and assess impact to the Client Risk Rating model and Risk Assessment Advisor and ongoing contributor relating to appropriate transaction monitoring typologies, data feeds, interfaces for the monitoring of activity booked to the broker dealer including the rollout of transaction monitoring and any future products approved through the new business committee
Provide oversight of the Capital Markets FIU’s transaction monitoring and investigation team's review and resolution of alerts and investigations
Strong Collaboration with the Trade Surveillance team to ensure ongoing communication as it pertains to financial crimes and escalation of unusual activity
Provide ongoing supervision, guidance, and approval of Suspicious Activity Report filings for the broker dealer with FinCEN and ensuring proper risk mitigation
Assist the BSA Officer with law enforcement matters involving Financial Crimes
Assist in the enhancement of anticipated activity requirements and ongoing refresh of anticipated activity to comply with the CDD rule
Coordinate with Fraud Management & relevant stakeholders to ensure there is a process of escalation, investigation & reporting
Deliver tailored AML training to the business and infrastructure groups as needed, update training materials, and oversee the completion status of Financial Crimes required training
Provide regular updates to the Head of US CM Financial Crimes, the BSA AML Officer and Chief Operating Officer (where applicable), escalating significant issues when needed
Liaise with the U.S. Director of Financial Crimes Oversight Testing relating to the testing program
Active member of the CUSO Financial Crime Management Committee
Assist with the development and updates to Financial Crimes related policies and procedures on at least an annual basis
Act as subject matter expert with respect to Financial Crimes requirements including handling AML inquiries from the front and back office and infrastructure groups
Assist with US Financial Crimes strategy related projects including project/task management and required documentation where applicable
Maintain industry expertise through regular participation in Financial Crimes related forums and training
Effectively exploit synergies across borders, areas of expertise, businesses, and functions
Assist with instilling a "culture of compliance” and in ensuring that employees understand RBC vision, as well as support and reinforce targeted behaviors that contribute to achieving RBC goals
Leverage the value in unit, department, and enterprise-wide teams to develop better solutions and achieve a cross-enterprise mindset