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Global Financial Crimes Specialist

Jersey City, New Jersey;

Job Description:

The Global Financial Crimes (“GFC”) Specialist under supervision, assists Global Financial Crimes executives and managers in any of the following activities in support of the identification, escalation and timely mitigation of compliance and operational risks in alignment with the Compliance and Operational Risk Management (“CORM”) Program, the Financial Crimes and Global Compliance -- Enterprise Policies ("GC Policy”), and the Enterprise Fraud Risk Management Standards.

The GFC Specialist assists in engaging other Compliance and Operational Risk (“C&OR”) officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The GFC Specialist also assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

Activities this role performs include, but are not limited to:

  • Assists in the production of independent financial crimes risk management reporting to Global Compliance & Operational Risk (“GC&OR”) Senior Leaders and FLU/CF Senior Leaders via established governance and management routines

  • Assists in the development and maintenance of financial crimes owned policies and standards and the review of relevant FLU/CF-owned policies and standards to ensure that regulatory requirements and operational risks are appropriately addressed

  • Assists in the monitoring of changes in regulations applicable to GFC, including advising business leaders on those changes, directing the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenging the implementation plan as needed; ensures a comprehensive regulatory inventory

  • Assists in the identification, aggregation, reporting, and escalation of the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes

  • Assists in the escalation of financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees

  • Assists in the remediation of financial crimes related C&OR “owned” issues and control enhancements to ensure they are addressed appropriately and timely

  • Contributes to risk coverage plans, executes independent risk monitoring, testing, and risk assessments, communicates results

  • Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)

  • Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls

  • Supports Scenario Analysis activities for coverage areas and challenges as appropriate

  • Assists with the development of risk metrics, monitors related performance and breach remediation


Additional activities may include:

  • Assists in the filing of all regulatory reports for the Company related to Financial Crimes

  • Europe Union sanctions and anti-boycott regulatory change

  • Manage substance of sanctions and anti-boycott regulatory change

  • Consult with GC&OR on sanctions related issues

  • Interact with Audit on complex sanctions requirements

  • Assist with executive level reporting on key sanctions matters

  • Assess regional operational and risk metrics for input into management level reporting

  • Research and respond to relevant regulatory authorities' exam, subpoenas and FOIA requests

  • Investigate and disclose of potential violations of sanctions or anti-boycott law

  • Assist Money Laundering Reporting Officers with local regulatory inquiries

  • Perform Risk Assessment on Anti-Boycott laws, rules and regulations

  • Consult with Risk Managers  on sanctions specific content in Periodic and Targeted Risk Assessments

  • Monitor sanctions and anti-boycott penalty assessments for potential vulnerability

  • Benchmark with peer banks on key industry trends

  • Attend industry meetings involving sanctions topics

  • Provide targeted training within GC&OR on sanctions topics

  • Formulate substance of enterprise economic sanctions training

  • Provide guidance on complex sanctions escalations

  • Support ad hoc inquiries across the enterprise on complex sanctions matters

Required Skills:

  • 5+ years of economic sanctions experience

  • Knowledgeable of OFAC, Treasury department

  • Must have knowledge of sanctions laws/rules/regs

  • Ability to analyze and prioritize issues/matters based on importance and immediate need

  • Ability to collaborate with partners in EMEA and Asia Pacific

Desired Skills:

  • Legal experience

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

The Global Financial Crimes (“GFC”) Specialist under supervision, assists Global Financial Crimes executives and managers in any of the following activities in support of the identification, escalation and timely mitigation of compliance and operational risks in alignment with the Compliance and Operational Risk Management (“CORM”) Program, the Financial Crimes and Global Compliance -- Enterprise Policies ("GC Policy”), and the Enterprise Fraud Risk Management Standards.

The GFC Specialist assists in engaging other Compliance and Operational Risk (“C&OR”) officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The GFC Specialist also assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

Activities this role performs include, but are not limited to:

  • Assists in the production of independent financial crimes risk management reporting to Global Compliance & Operational Risk (“GC&OR”) Senior Leaders and FLU/CF Senior Leaders via established governance and management routines

  • Assists in the development and maintenance of financial crimes owned policies and standards and the review of relevant FLU/CF-owned policies and standards to ensure that regulatory requirements and operational risks are appropriately addressed

  • Assists in the monitoring of changes in regulations applicable to GFC, including advising business leaders on those changes, directing the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenging the implementation plan as needed; ensures a comprehensive regulatory inventory

  • Assists in the identification, aggregation, reporting, and escalation of the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes

  • Assists in the escalation of financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees

  • Assists in the remediation of financial crimes related C&OR “owned” issues and control enhancements to ensure they are addressed appropriately and timely

  • Contributes to risk coverage plans, executes independent risk monitoring, testing, and risk assessments, communicates results

  • Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)

  • Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls

  • Supports Scenario Analysis activities for coverage areas and challenges as appropriate

  • Assists with the development of risk metrics, monitors related performance and breach remediation


Additional activities may include:

  • Assists in the filing of all regulatory reports for the Company related to Financial Crimes

  • Europe Union sanctions and anti-boycott regulatory change

  • Manage substance of sanctions and anti-boycott regulatory change

  • Consult with GC&OR on sanctions related issues

  • Interact with Audit on complex sanctions requirements

  • Assist with executive level reporting on key sanctions matters

  • Assess regional operational and risk metrics for input into management level reporting

  • Research and respond to relevant regulatory authorities' exam, subpoenas and FOIA requests

  • Investigate and disclose of potential violations of sanctions or anti-boycott law

  • Assist Money Laundering Reporting Officers with local regulatory inquiries

  • Perform Risk Assessment on Anti-Boycott laws, rules and regulations

  • Consult with Risk Managers  on sanctions specific content in Periodic and Targeted Risk Assessments

  • Monitor sanctions and anti-boycott penalty assessments for potential vulnerability

  • Benchmark with peer banks on key industry trends

  • Attend industry meetings involving sanctions topics

  • Provide targeted training within GC&OR on sanctions topics

  • Formulate substance of enterprise economic sanctions training

  • Provide guidance on complex sanctions escalations

  • Support ad hoc inquiries across the enterprise on complex sanctions matters

Required Skills:

  • 5+ years of economic sanctions experience

  • Knowledgeable of OFAC, Treasury department

  • Must have knowledge of sanctions laws/rules/regs

  • Ability to analyze and prioritize issues/matters based on importance and immediate need

  • Ability to collaborate with partners in EMEA and Asia Pacific

Desired Skills:

  • Legal experience

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21029072

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Laura Dillon

Referral Bonus:

0