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Regulatory and AML Supervision Manager

George Town, , Grand Cayman

Job Description:

Merrill Lynch Bank & Trust Company (Cayman) Limited (MLBTC) is a third tier, wholly owned subsidiary of Bank of America Corporation (BAC). Functionally, MLBTC’s activities are primarily aligned with BAC’s Merrill Lynch division.  Merrill Lynch is managed and operated as a global business from the U.S. and serves its clients through all aspects of their financial lives and primarily targets affluent, high net worth and ultra-high net worth clients.

MLBTC conducts four principal Merrill Lynch business activities, namely Deposit and Cash Management Solutions; Credit and Lending Solutions; Investment Solutions: Spot Foreign Exchange, Collateralized Foreign Exchange and Dual Currency Products and Deposit Sweeps.

MLBTC has a Category B bank license and does not conduct domestic banking business in the Cayman Islands nor does it provide services for Caymanian residents.

The Team

At MLBTC we have a small skilled and integrated team of 5 with largely business, operational and regulatory responsibilities given MLBTC’s size, its products and relationship with Merrill Lynch

Job Description:
This job is responsible for leading and executing on AML related activities for Merrill Lynch Bank & Trust (Cayman).  Key responsibilities include executing LOB or ECF processes and tools to drive adherence to enterprise-wide standards, and training of partners on Cayman regulations. Job expectations include supporting the implementation of quality assurance and quality control processes within the LOB or ECF through ongoing monitoring and testing of controls, identifying issues and control improvements for remediation, and building out actions plans and milestones.

Ideal candidates will be able to translate complex business problems and regulatory requirements into execution delivery and process transformation.  Additionally, the candidate must be able to communicate effectively to various levels of management, including Wealth Management executives, risk leaders, auditors and regulators.  Driving a culture of compliance and operational excellence are a must.  


  • Leads the AML Supervision responsibilities for the Cayman Bank
  • Leads the assessment of the design and effectiveness of the risk and control environment to support client due diligence and account opening  and ensure adherence to enterprise-wide standards
  • Responsible for development and maintenance of business procedures and coordination with branch procedures
  • Performs monitoring and testing of controls, identifying issues and control improvements for remediation
  • Implements and performs Quality Assurance (QA) for AML related functions including control execution, case management, and results reporting
  • Manages and reviews all operations front line unit responses for regulatory exams, internal audits, and other monitoring and inspection reviews
  • Ensures accuracy of data and that relevant information is captured for inspection metrics to support governance for dashboard reporting


·  Strong executive presence and communication skills (verbal and written)

·  Highly motivated, proactive and a self-starter; strong sense of ownership & ability to create and execute plans without daily oversight

·  Possess mature business judgment and be proactive, well organized and results-oriented

·  Interpersonal skills to lead and participate within a diverse group of constituents which are distributed across functional areas and physical locations

·  Must have ability to work in a fast paced, cross-functional environment

·  Ability to recognize gaps and execution risks and acumen to devise appropriate remediation plans

·  Knowledge of financial and banking products, policies, operations and applicable procedures

·  Minimum 4-5 years’ experience in AML/KYC and compliance roles

·  Control focused mindset and ability to distill complex regulatory and reputational risks

·  Ability to liaise with internal and external stakeholders and deal with people with different experiences and backgrounds and be able to get work done.

Minimum Education Requirement:

College degree; CAMS certification


Hours Per Week: 


Learn more about this role

Full time


Manages People:

Street Address

Primary Location:
Grand Cayman, George Town, KY11102