Sr Director, Enterprise AML Officer

Northwestern Mutual-posted 3 months ago
$112,210 - $208,390/Yr
Full-time • Senior
5,001-10,000 employees
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The Enterprise AML Officer leads the Anti-Money Laundering (AML) Team in Northwestern Mutual’s Enterprise Compliance Department and is responsible for leading the development, implementation, and maintenance of the company’s AML and sanctions compliance programs. The role currently serves as the AML Officer for The Northwestern Mutual Life Insurance Company (NM) and its operating subsidiaries Northwestern Mutual Investment Services, LLC (NMIS) (registered broker-dealer), Northwestern Mutual Wealth Management Company (WMC) (limited purpose federal savings bank), and Northwestern Mutual Series Fund, Inc. (NMSF) (registered investment company). The AML Officer ensures the adequacy and effectiveness of compliance policies, procedures, monitoring and controls established to comply with AML and sanctions obligations.

  • Coordinate and manage the enterprise AML policies, procedures and controls to ensure compliance by NM and its operating subsidiaries with applicable AML laws and regulations.
  • Monitor applicable laws and regulatory trends to ensure the ongoing sufficiency of the AML and sanctions compliance programs.
  • Review and assess compliance testing, audit and examination findings and oversee the implementation of changes, enhancements or best practices to address them.
  • Evaluate enterprise-wide AML risk and advise on the proper allocation of AML resources.
  • Oversee the investigation and resolution of AML matters.
  • Facilitate coordination of AML business and risk partners across the enterprise to ensure consistency and cooperation in assessing and addressing AML risk.
  • Responsible for overseeing the monitoring of insurance and securities transaction activity, watch list screening, customer risk ranking, transaction monitoring threshold tuning, and data integrity testing to effectively identify suspicious activity and meet regulatory obligations.
  • Implement corrective procedures and action plans to enhance controls.
  • Ensure AML and sanctions-related reporting obligations are satisfied, including but not limited to suspicious activity reports (SAR), OFAC blocked property reports, and other required AML and sanctions-related regulatory reporting.
  • Coordinate major cross-departmental projects that impact the organization and business processes to effectively implement project deliverables related to AML risk management.
  • Responsible for ensuring the development and delivery of AML training content to manage AML risk and meet regulatory requirements for home office and field personnel.
  • Oversee certain functions performed by NMIS’ clearing firm.
  • Consult with NM and operating subsidiary personnel and the company’s field representatives regarding AML-related topics, training, updates and/or alerts.
  • Review, assess and report on the AML and sanctions compliance programs of external asset managers hired by NM and affiliates to manage assets.
  • Respond to regulatory exam requests regarding the AML program, including interviews with the examiners.
  • Prepare written annual compliance reports to applicable governance bodies regarding the operation and health of the AML and sanctions programs.
  • Chair the Enterprise AML Committee and the AML Executive Committee.
  • Participate on various divisional, departmental, and enterprise-wide projects and committees as needed.
  • Manage a team to achieve company and department goals, supporting team development, and executing team responsibilities.
  • Bachelor's Degree
  • Knowledge of the Bank Secrecy Act, USA Patriot Act, and related rules and regulations of FinCEN, the SEC and FINRA, federal banking regulators, and state insurance regulators, as applicable.
  • FINRA Series 7 and 9/10 or 24
  • Minimum of 10 years of progressively responsible work experience in securities operations and/or compliance.
  • In-depth understanding of AML regulations and statutes relating to risk and investment products, investment management and trust services.
  • Knowledge of insurance, securities, and advisory products, services and operations.
  • Demonstrated strong leadership, decision-making and written and verbal communication skills.
  • Demonstrated ability to design and implement systems to monitor transactions and trends to identify AML and sanctions risks.
  • Demonstrated ability to use data analytics to make risk aware decisions.
  • Ability to effectively communicate requirements to, negotiate with, and influence others across departmental lines within the organization and members of field management.
  • Certified Anti-Money Laundering Specialist (CAMS) designation required or obtained within 6 months of hire.
  • Project Management – Advanced
  • Accountability – Advanced
  • Attention to detail – Expert
  • Cross-Functional Partnering & Planning – Expert
  • Policy & Procedure – Expert
  • Risk Assessment & Identification – Expert
  • Business Influence – Advanced
  • Continuous Improvement – Expert
  • Decision Making – Expert
  • Compensation Range: Pay Range - Start: $112,210.00 Pay Range - End: $208,390.00
  • Geographic Specific Pay Structure based on location and other factors.
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