Director, BSA Officer for RBC Capital Markets, LLC – Wealth Management

RBC•Minneapolis, MN

1d•$140,000 - $240,000•Onsite

About The Position

This role acts as the designated Bank Secrecy Act AML Officer (“AML Officer”) and Economic Sanctions Officer (“OFAC Officer”) to ensure the sufficiency of RBC CM LLC – Wealth Management’s (“USWM”) compliance with the USA PATRIOT Act, Economic Sanctions, and related regulations and guidance. He/she provides the adherence with, oversight, coordination and execution of various activities related to these regulations, responsible for updated relevant policies, procedures, vendor oversight and training.

Requirements

Bachelor's degree in business, finances, or similar
10-12 or more years of experience in banking and financial services
FINRA Series 7 and 24 or willingness to obtain
Strong understanding of Bank Secrecy Act (“BSA”), Office of Foreign Asset Control (“OFAC”), and other relevant U.S. regulations
Effective communication skills and ability to impact/influence
Demonstrated leadership and management skills
Sound knowledge of banking/brokerage operations

Nice To Haves

Advanced degree i.e. JD, MBA
Certified Anti-Money Laundering Specialist (“CAMS”) designation
Ability to lead a team of Financial Crimes professionals
Able to influence first line leadership, in addition to enterprise leaders
Strong organizational/time-management skills
Ability to effectively prioritize and complete multiple priorities
Strong critical thinking skills and meticulous attention to detail
Ability to interact with 1LOD/2LOD functions
Ability to deal with ambiguity
Ability to pursue goals and resolve obstacles encountered
Broad knowledge of banking and investment products/services and understanding of FC-related risks (i.e., money laundering, terrorist financing, sanctions, bribery and corruption)

Responsibilities

As Money Laundering Reporting Officer (“MLRO”) for RBC Capital Markets, LLC (“RBCCM LLC”) US Wealth Management, responsible for supervising and ensuring compliance with RBCCM LLC’s Bank Secrecy Act and FINRA rule 3310 AML USWM programs and all related regulatory obligations.
As OFAC Officer on behalf of USWM Financial Crime, responsible for supervising and ensuring compliance with relevant economic sanctions in coordination with the RBC Enterprise Global Economic Sanction team
Responsible for oversight of Target Operating Model functions supporting the AML and OFAC programs.
Voting member of the Financial Crimes Management Committee, as well as collaborating with and supporting the CUSO governance process.
Leadership of a team of Financial Crimes professionals including hiring, mentoring, as well as new and replacement staffing.
Lead and oversee key components of the USWM Financial Crimes programs and ensure alignment to the overall RBC US Financial Crimes strategy.
Responsible for Anti-Bribery Anti-Corruption (“ABAC”) and Economic Sanctions compliance with the support of the Global Economic Sanctions teams.
Committee participation within both the business and CUSO including Product Risk Review Committee (PRRC), High Risk Client Committee (HRC), and various others.
Ensure policies, standards and procedures are in line with RBC Enterprise Policy and U.S. regulatory requirements.
Provide oversight and effective challenge of the financial crimes control environment for the RBCCM LLC broker-dealer.
Ensure there are current and appropriately tailored transaction monitoring typologies for activity by, at or through the RBCCM LLC broker dealer.
Oversee development and maintenance of key internal controls for mitigating Financial Crimes risks.
Oversee the Internal Audit annual independent review and second line testing by FCOT of the Financial Crimes programs.
Reviewer, advisor, and approver of the annual risk assessments, as well as overseeing remediation of any resulting findings.
Oversee remediation of any findings that originate from FCOT, internal audit, and/or regulators.
Liaison with regulators and law enforcement, as warranted.
Ensure there are escalation processes of potentially suspicious activity.
Recommend tailored training and provided feedback on annual training enterprise training course.
Complete an annual review and assessment of the adequacy of staffing supporting the Financial Crimes programs.

Benefits

competitive compensation
flexible benefits
401(k) program with company-matching contributions
health, dental, vision, life, disability insurance
paid-time off
Leaders who support your development through coaching and managing opportunities.
Ability to make a difference and lasting impact.
Work in a dynamic, collaborative, progressive, and high-performing team.
Opportunities to do challenging work.
Opportunities to build close relationships with clients.