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Vice President, Supervision

George Town, North Carolina, United States

Job Description:

Merrill Lynch Bank and Trust Company (Cayman) Limited (MLBTC) has been a long-standing banking and trust platform of the Global Wealth & Investment Management business available to global clients (focus on clients outside of the United States). MLBTC provides banking, trust and multi-currency products to clients of its affiliated U.S. broker-dealer ― Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S).

Role Duties:

  • Provide MLBTC supervisory oversight in Cayman for new and existing business for MLBTC.
  • Perform Quality Assurance function on new account opening and existing account client/maintenance MLBTC business to ensure adherence to CDD standards and requirements e.g. current profile, client identification, proof of residence, purpose and source of wealth, and other onboarding applications, etc.
  • Review Client Suitability and source of funds for new MLBTC business.
  • Independently review MLPF&S approvals for new /existing MLBTC clients on the various alerts e.g. Account Closure Recommendations/ACRs, Negative News, SPF/PEP, Economic Sanctions, etc. 
  • Review MLBTC supervision reporting.
  • Monitor day to day Cayman operations at MLBTC e.g. signage, securing client files, escalation, exception reporting, and any other duties that may be assigned.
  • Performs independent enhanced due diligence as required by AML policy and overall general MLBTC business policy and procedures.
  • Serves as a point of contact and lead representative for MLBTC Supervision to internal and external audits.
  • Presentation on supervision related topics to various groups e.g. MLBTC leadership, MLBTC board of directors, Control partner meetings, Advisory Division/OMT meetings/calls, MLBTC staff, etc. 

Role Qualifications

  • Proven ability to manage risk, make sound decisions by having a deep understanding of industry regulations, supervisory requirements, policies/procedures, wealth management concepts, and financial services products.
  • A deep appreciation and understanding the reliance and connectivity with MLBTC into MLPF&S around policies and procedures.
  • Strong interpersonal skills to provide coaching to MLBTC Service, Ops, Admin, Branch OMTs, and Advisory teams to mitigate risk.
  • Strong analytical skills with ability to identify trends, root cause and effects, and implement improved processes to mitigate risk.
  • Demonstrated a strong and effective leadership style through clear communication and collaboration with others, making sound decisions with courage and conviction.
  • Strong time management and organization skills with the ability to prioritize appropriately.
  • Bachelor’s degree or equivalent work experience
  • CAMS certification
  • Minimum (5) years in Compliance and/or AML Compliance and/or legal, audit, risk management role
  • Series 7,66 (or equivalent),9,10 (or equivalent) Licenses

Learn more about this role

Full time

JR-20011596

Manages People: No

Manager:

Talent Acquisition Contact:

Referral Bonus:

Street Address

Primary Location:
Grand Cayman, George Town, KY11102