Compliance Manager

Federal Reserve Bank of Philadelphia • New York, NY

2d • Onsite

About The Position

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. As part of the Operations and Resiliency (O&R) Group’s first line of defense risk management department, the Reserve Bank Accounts and Services (RBAS) Compliance team performs risk management activities related to Bank Secrecy Act (BSA)/ Anti-Money Laundering (AML) and Office of Foreign Asset Controls (OFAC) for the Bank’s high risk customer accounts, including the assessment of the sufficiency of Second District customers’ BSA/AML and OFAC compliance risk management activities aligned to the Bank’s policies and the Board’s Guidelines for Evaluating Requests for Accounts and Services. This team establishes and manages the related compliance practices and policies related to the provision of master accounts and Federal Reserve financial services for all Second District financial institutions. The selected applicant will interact with multiple areas of the New York Fed and Federal Reserve System colleagues and work in an important and high-visibility area.

Requirements

• Subject matter expertise in a financial services organization applying AML and sanctions compliance, risk management or audit policies and procedures, with subject matter expertise in the anti-money laundering, sanctions, fraud or broader compliance and ethics fields.
• Proven leadership skills including experience managing teams, cross-functional initiatives or workgroups.
• Strong analytical skills with the ability to interpret regulatory and other policies and best practices and determine how applicable to business.
• Strong interpersonal collaboration, effective communication and customer service skills, including demonstrated ability to communicate complex business issues to a senior audience.
• Ability to develop sound conclusions after analyzing multiple information sources, identify gaps in key elements of compliance programs and problem solving of day-to-day activities.
• Advanced PC and technical proficiency (e.g. Microsoft Office Suite, SharePoint Online, Tableau, Launchpad Pro (Generative AI), and collaboration tools).

Nice To Haves

• ACAMS Certification strongly preferred.

Responsibilities

• Manage the RBAS Compliance team and day-to-day activities on the development, execution, and continuous improvement of policies, procedures, and overall controls.
• Provide constructive feedback to staff with a view toward developing staff potential and promoting an inclusive workplace.
• Provide subject matter expertise and judgment on applicable compliance, risk management policies and procedures to existing and potential customers.
• Collaborate with the New York Fed and Federal Reserve System stakeholders to execute on business initiatives and to obtain relevant input to business actions.
• Prepare written reports, communications, presentations, briefings, recommendations to all stakeholders, including executive management and external customers.
• Lead meetings with existing and potential FRFS customers and address follow-up actions.
• Participate in the coordination of management responses to risk and audit review of the first line function and ensure the implementation of remediation action as needed.
• Lead and coordinate projects and workstreams aimed at formalizing and enhancing the first line program.
• Provide leadership and guidance on policies related to RBAS activities to ensure that they are effective, analyzing where there are gaps and providing recommendations where needed.
• Analyze market intelligence data and assess implications for the work to stay abreast of industry and institution-specific developments.

Benefits

• Fully paid Pension plan and 401k with Generous Match
• Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)
• Subsidized Public Transportation Program
• Tuition Assistance Program
• Onsite Fitness & Wellness Center

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Education Level: No Education Listed