Senior Manager - Economic Sanctions U.S. Capital Markets

Royal Bank of Canada•Jersey City, NJ

13d•$110,000 - $190,000

About The Position

What is the Opportunity? Support the U.S. Head of Economic Sanctions and ABAC in the ongoing operation of the Combined U.S. Operations (“CUSO”) sanctions, anti-bribery / anti-corruption (ABAC), and export controls compliance program. The Senior Manager will have accountability for supporting the CUSO Sanctions / ABAC functions in ensuring: A strong knowledge and understanding of U.S. sanctions, ABAC, and export controls compliance program across all business units A particular focus on the application of the program in the Capital Markets business, especially its broker-dealer business What will you do? Execution of Advisory Functions- responsible for supporting Head Office directives under the RBC Global Economic Sanctions (GES) and ABAC program for all RBC entities operating in the CUSO region, with a primary focus on the RBC U.S. Capital Markets business in New York and New Jersey Collaborate primarily with GES employees in Head Office in Toronto, the U.S. Head of Economic Sanctions / ABAC in Los Angeles, and the Capital Markets Head of Financial Crime in New Jersey Have or develop a deep understanding of all U.S. RBC Capital Markets products, businesses, and systems Responsible for overseeing GES and ABAC controls in the CUSO, with a primary focus on Capital Markets, including the updating of associated policies and procedures, and proposing new controls as may be applicable Prepare OFAC reporting, including blocking/rejection, licenses, unblocking reports, compliance releases, subpoenas, and VSD-related communications for Capital Markets Primary contributor for the Economic Sanctions / ABAC Risk Assessment in collaboration with the U.S. Head of Economic Sanctions & ABAC and RBC Enterprise GES Collaborate with Head Office employees to support the Enterprise Model Risk Policy, as it relates to GES and ABAC screening and detection models deployed locally in the CUSO Provide economic sanctions and ABAC advisory opinions and guidance to First Line business partners; act as a local Sanctions and ABAC point of contact in CUSO for escalations Escalate priority sanctions and ABAC matters to the U.S. Head of Sanctions and to GES as appropriate Collaborate with Head Office and track US regulatory updates applicable to sanctions and ABAC requirements in the CUSO, developing communication updates for US MLROs and business stakeholders, and assist with targeted training where applicable Work with GES Advisory (Head Office for Sanctions and ABAC) to develop regulatory expertise on US sanctions, sanctions evasion, export controls, ABAC and anti-boycott, including U.S. embargo programs that impact units operating within and outside the U.S. in respect of products and services provided by those units Work with Legal to review contracts and agreements for sanctions- and ABAC-related language, clauses, and representations and warranties Responsible for tracking and ensuring action plans are created and closed in respect of CUSO sanctions and ABAC issues, working with MLROs, Governance etc. Liaise with various business partners (GES Head Office employees; Governance, RSG, Data and Project Management, EMRM, AML Compliance employees, business units, Payments Centre, RBC Law, Sales Support, HRC, Enterprise Operational Risk, AML FIU, CIS, GRC, FCOT, Internal Audit, etc) in the provision of direction and expertise in respect of CUSO sanctions and ABAC issues

Requirements

7+ years’ relevant experience in related field
Extensive knowledge of risk and compliance management, and/or governance practices, including a working knowledge of financial crime related program requirements relating to BSA, USA PATRIOT Act, OFAC, and FCPA
Strong knowledge and experience developing, coordinating, and preparing management reporting.
Demonstrated experience managing professional staff
Ability to handle ambiguity in a professional manner
Quickly adaptable to changing circumstances/priorities

Nice To Haves

Demonstrated experience leading or contributing to the RCM program design and implementation including horizon scanning, inventory management, mapping of regulations to risks, policies, procedures and controls and the ability to translate information into insight
Experience in data analysis and simplifying complex information for management reporting
Knowledge of financial institution governance structure and committee workflows
Strong knowledge of risk management in financial institutions
Extensive broker-dealer experience
A ‘completer-finisher’. Self-starting and results focused. Proactive and energetic with a ‘can-do’ approach
Excellent people management skills with proven motivation and leadership skills
Effective and strong written and oral communication skills
Skilled in Microsoft Office applications such as Outlook, Excel, Word, PowerPoint, SharePoint, Power BI or Access
Intuitive and inquisitive thinker – demonstrated critical thinking skills
Ability to impact, influence and take initiative
Ability to understand and articulate financial crime risks
Ability to effectively complete multiple projects simultaneously

Responsibilities

Execution of Advisory Functions- responsible for supporting Head Office directives under the RBC Global Economic Sanctions (GES) and ABAC program for all RBC entities operating in the CUSO region, with a primary focus on the RBC U.S. Capital Markets business in New York and New Jersey
Collaborate primarily with GES employees in Head Office in Toronto, the U.S. Head of Economic Sanctions / ABAC in Los Angeles, and the Capital Markets Head of Financial Crime in New Jersey
Have or develop a deep understanding of all U.S. RBC Capital Markets products, businesses, and systems
Responsible for overseeing GES and ABAC controls in the CUSO, with a primary focus on Capital Markets, including the updating of associated policies and procedures, and proposing new controls as may be applicable
Prepare OFAC reporting, including blocking/rejection, licenses, unblocking reports, compliance releases, subpoenas, and VSD-related communications for Capital Markets
Primary contributor for the Economic Sanctions / ABAC Risk Assessment in collaboration with the U.S. Head of Economic Sanctions & ABAC and RBC Enterprise GES
Collaborate with Head Office employees to support the Enterprise Model Risk Policy, as it relates to GES and ABAC screening and detection models deployed locally in the CUSO
Provide economic sanctions and ABAC advisory opinions and guidance to First Line business partners; act as a local Sanctions and ABAC point of contact in CUSO for escalations
Escalate priority sanctions and ABAC matters to the U.S. Head of Sanctions and to GES as appropriate
Collaborate with Head Office and track US regulatory updates applicable to sanctions and ABAC requirements in the CUSO, developing communication updates for US MLROs and business stakeholders, and assist with targeted training where applicable
Work with GES Advisory (Head Office for Sanctions and ABAC) to develop regulatory expertise on US sanctions, sanctions evasion, export controls, ABAC and anti-boycott, including U.S. embargo programs that impact units operating within and outside the U.S. in respect of products and services provided by those units
Work with Legal to review contracts and agreements for sanctions- and ABAC-related language, clauses, and representations and warranties
Responsible for tracking and ensuring action plans are created and closed in respect of CUSO sanctions and ABAC issues, working with MLROs, Governance etc.
Liaise with various business partners (GES Head Office employees; Governance, RSG, Data and Project Management, EMRM, AML Compliance employees, business units, Payments Centre, RBC Law, Sales Support, HRC, Enterprise Operational Risk, AML FIU, CIS, GRC, FCOT, Internal Audit, etc) in the provision of direction and expertise in respect of CUSO sanctions and ABAC issues

Benefits

A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and 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.

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