Senior Associate, AML Compliance
About The Position
Hightower’s Compliance Department strives to provide industry-leading support to the firm’s advisor teams. We are passionate about serving as collaborators within all facets of the organization and focus on developing processes and strategies that are effective for advisors, their clients, and other middle- and back-office departments, while adhering to applicable regulatory requirements. This position is based in Chicago and follows a hybrid schedule, with employees working in the office Monday through Thursday and remotely on Friday. The Senior Associate, AML Compliance is a dual-focus role with primary responsibility for administering the firm’s Anti-Money Laundering (AML) program under the Bank Secrecy Act (BSA) for its FINRA-regulated BD operations and the firm’s sanctions program for its RIA operations. This role also supports risk-based testing of selected BD and RIA compliance controls. 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. This position reports to the Executive Director, Compliance.
Requirements
- Bachelor’s degree or equivalent professional experience.
- 3+ years of experience in compliance, supervision, or a related function, preferably with a broker-dealer or RIA. Specific BSA/AML experience required.
- Strong working knowledge of FINRA Rules 3310, 3110, and 3120; BSA/AML regulations; and Investment Advisers Act requirements.
- Ability to assess and articulate regulatory distinctions between BD and RIA requirements.
- Strong analytical, investigative, and problem-solving skills.
- Demonstrated advanced proficiency in Excel, including analyzing and reconciling large datasets, using pivot tables, lookup and conditional formulas, filtering and data-validation tools, and identifying trends, discrepancies, and exceptions.
- Experience implementing and using AML technology and third-party screening or surveillance tools.
- Excellent written and verbal communication skills for regulatory and executive audiences.
- Independent judgment with a collaborative, risk-based approach.
- Strong organizational and project management capabilities.
Responsibilities
- Administer, maintain, and enhance the BD’s AML Program, including policies, procedures, and internal controls.
- Oversee the Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD).
- Administer and monitor the firm’s sanctions program, including OFAC screening, potential-match review and escalation, and applicable recordkeeping.
- Review client transactions, 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 requirements, including Section 314(a) requests.
- Coordinate and deliver annual AML training to registered representatives and other applicable personnel.
- Oversee AML service providers, surveillance tools, and clearing firm relationships.
- Perform risk-based testing of selected compliance controls for BD and RIA 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
- Coverage on the first day of employment for medical, dental, and vision insurance
- Paid parental leave (16 weeks for primary caregiver and 8 weeks for secondary caregiver)
- In-office Monday through Thursday and work from home on Fridays
- Mother's lounge onsite
- Flexible PTO plan
- Free gym in the Chicago office
- 401(k) matching plan
- HSA employer contributions
- Student loan assistance
- Pet insurance
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What This Job Offers
Job Type
Full-time
Career Level
Senior
