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).
- 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.
- 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
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