Associate Director, U.S. Financial Crimes - RBC 3WFC Branch, Agency & Rep Offices, and RBC Real Estate Capital Corporation

Royal Bank of Canada•Jersey City, NJ

50d•$120,000 - $200,000•Onsite

About The Position

Reporting to the Deputy BSA/AML Officer, the Associate Director, U.S. Financial Crimes supports the financial crimes program of 3WFC Branch and RBC Real Estate Capital Corp through regulatory examinations and audit coordination, risk and control analysis, business advisory support, and management reporting. The role works closely with the business, operations, and enterprise Financial Crime stakeholders including the FIU to assist the BSA Officer and Deputy with oversight, monitoring, and effective challenge of the financial crime control environment, and to provide ongoing financial crimes subject matter and policy expertise.

Requirements

University degree or equivalent experience
Minimum 4+ years of relevant work 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 Corporate Banking and Transaction Banking products and services (e.g. cash management, treasury, lending, trade finance, etc.) and understanding of their associated overall financial crimes risks
Knowledge of Correspondent Banking risks, and controls and frameworks for mitigating said risks
Strong ability to apply regulatory requirements to the development of risk-based AML, Economic Sanctions and ABAC policies and procedures to relevant businesses and products
Understanding of relevant emerging risks preferred (e.g. fraud, cryptocurrency)
Exceptional written, verbal communication, and analytical skills
Strong organizational/time-management skills
Strong inter-personal/relationship management skills
Ability to produce quality work under strict deadlines, and to effectively prioritize and complete multiple projects
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

Nice To Haves

Understanding of relevant emerging risks (e.g. fraud, cryptocurrency)

Responsibilities

Prepare management reporting and committee meeting materials including key metrics, emerging trends, issues statuses, and other matters requiring the attention of senior management
Support the Deputy BSA/AML Officer in coordinating regulatory exam and audit requests, assessing supporting information for accuracy and completeness, and preparing timely draft responses for the Deputy’s review
Assist in the timely resolution and remediation of regulatory and audit findings, including thorough check and challenge of issues and actions owned by enterprise stakeholders
Assist in the oversight and development of controls for mitigating financial crimes risks including the identification of potential control gaps and compensating controls to meet regulatory requirements and other expectations
Support the review of New Business Committee (NBC) submissions of new or expanded products and services to identify and evaluate financial crimes risks and required controls for those products and services
Provide material input into the assessment of new regulations, guidance and enforcement actions to ensure regulatory compliance, alignment with best practices and address emerging risks
Deliver tailored AML training to the business and enterprise stakeholders as needed
Support the BSA Officer and Deputy to provide material input into the Risk Assessment and RCSA processes, including review and challenge of underlying data inputs
Review and challenge of Transaction Monitoring Coverage Assessment (TMCA) results and recommendations, as well as proposed Model White Paper updates and Model Validation results
Provide oversight, and check and challenge, of metrics and reporting provided by enterprise stakeholders (e.g., alert and case aging SLA metrics)
Assist in the enhancement of anticipated activity collection and review requirements and ongoing refresh of anticipated activity to comply with the CDD rule
Provide regular updates to the BSA Officer and Deputy, escalating significant issues when needed
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 KYC/EDD and AML inquiries from the front and back office and enterprise stakeholders
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