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VP AML Core Officer - Compliance Risk Management - Global Corporate and Investment Bank (CIB)

Company: Citi
Location: Jersey City
Posted on: July 12, 2018

Job Description:

  • Primary Location: United States,New Jersey,Jersey City
  • Education: Bachelor's Degree
  • Job Function: Compliance and Control
  • Schedule: Full-time
  • Shift: Day Job
  • Employee Status: Regular
  • Travel Time: Yes, 10 % of the Time
  • Job ID: 18028925
    As a member of the AML Compliance Risk Management (ACRM) Global Corporate and Investment Bank this position reports to the Senior Vice President (SVP) of ACRM Global CIB, and is responsible for executing AML Program, maintaining AML CIB procedures and, in conjunction with SVP, advising business partners on compliance requirements, establishing policies and procedures and providing business compliance training. Fully knowledgeable in areas of expertise and qualified to provide ongoing AML support to the CIB businesses.
    As the primary face-off to the business, the Anti-Money Laundering (AML) Risk Management Vice President supports the Senior Vice President to identify, assess and manage AML risk across Citi---s clients, products and geographies. This individual acts as an effective and trusted information source to the business on AML laws, regulations, policies and practices and works with other AML partners on the design, development, and refinement of the Citi AML Program. Working collaboratively with both the first and third lines of defense to execute the AML program effectively, this second line of defense function provides oversight through appropriate controls and escalation framework.
    This individual is responsible for providing support in the assessment of AML CIB issues, reviewing and implementing potential solutions and driving to effective resolution with business stakeholders. The role translates AML strategy and goals across Citi---s clients, products and geographies, implementing the program. AML Risk Management works proactively with the business to achieve solutions, with the ability and confidence to demonstrate ---credible challenge--- --- challenging management, escalating issues and pressing for change while highlighting and emphasizing this critical role as the second line of defense.
    Liaising closely with Business Heads, Business Unit Managers and support functions in delivering AML Compliance risk management for CIB clients.
    Global AML Corporate and Investment Banking (CIB) Coverage Overview
    --- The AML coverage model follows the CIB client-driven relationship support model which delivers Citi---s comprehensive financial solutions horizontally, across all ICG products/services: advisory/capital raising, Treasury/trade management solutions and securities funds services.
    --- AML support and oversight is therefore also managed at the CIB client level (across all 13 client industry sectors) with a holistic view of client---s AML risk throughout all ICG products/services and geographies which drives broad and consistent execution of AML compliance risk management.
    --- This role will provide support to the SVP and Director, providing support to the Global CIB Business and senior management CIB Bankers, spanning all 13 client industry sectors globally and mirroring the business---s client support model of an integrated assessment of the client. The CIB AML Team will serve as a single touchpoint to CIB senior management and functional partners, managing and assessing client---s financial crimes risk through consolidated AML oversight of the risks that the client poses to Bank collectively via all products and geographies (from deal due diligence review to account-based products offered by TTS, Markets and Issuer Services). The team will also have responsibility for establishing and managing AML governance forum(s) for end-to-end oversight of ICG client's AML risk, including a new ICG AML Oversight committee to address significant AML, financial crimes and other reputational risk issues impacting CIB clients across multiple geographies and product lines.
    --- This role will support the implementation a comprehensive AML risk management support model for CIB clients throughout all ICG product lines and geographies to ensure a consistent and expedient approach to managing AML risk that is aligned to the CIB business---s client centric relationship management.
    --- Special Focus will be placed on higher risk clients and industry sectors: Corporates in oil and gas industries/mining and extraction businesses; Corporates or Financial Institutions with high concentration of government contracts; Foreign Mission Banking/Public Sector Clients in high risk geographies or business sectors.
    Job Responsibilities:
    --- The primary responsibility will be as a Subject Matter Expert (SME) supporting and advising the Regional CIB Business on AML Compliance matters
    --- Liaising with the business and country AML compliance teams to ensure Compliance with the Citi AML Program and provide advice on the AML considerations needed for the product and service offerings of CIB
    --- Review, coordinate and provide feedback on AML risk assessments related to CIB
    --- Identify areas of potential risk and assist businesses and country teams to manage those risks
    --- Review and provide feedback on enterprise wide and ---horizontal--- or themed risk assessments
    --- Participate on behalf of the ACRM CIB SVP on Global and Regional governance calls
    --- Support the implementation and training needs relating to new policies and standards
    --- Support CIB Business in AML regulatory exam activities
    --- With direction from SVP, take the lead in execution of projects that involve multiple stakeholders across multiple sites.
    --- Support the ACRM CIB SVP to implement the strategic requirements of CIB Client AML Risk Management: End-to-End AML support of CIB client (across all 13 ICG Industry Sectors that fall under the CIB organization);
    o Includes management and oversight of CIB Client AML risks across all ICG products and coordination with AML and business/control partners throughout impacted geographies.
    o Responsible for setting AML Standards and Position Papers on Key Risks in CIB AML and communicating these to CIB businesses and control partners.
    o Special Focus on Corporates or FI's with high concentration of government contracts; Foreign Mission Banking/Public Sector Clients in high risk geographies or business sectors
    --- Support the implementation of policies, procedures, global and regional guidelines to comply with the AML requirements and regulatory standards/corporate; define and develop in conjunction with the Global Head of CIB a strategic plan for the CIB Business.
    --- Provide timely advice to businesses on legislative and regulatory obligations of the activities conducted within the business;
    --- Develop and maintain sound working relationships with the business to ensure communication and an effective risk management
    --- Support the execution of AML CIB training programs to the business, clients and regulators;
    --- Assist, as required, in responses to regulatory enquiries and audits/auditor enquiries;
    --- Identify areas of non-compliance and recommendations for changes (if any) or enhancements to overall business framework;
    --- Ensure businesses adhere to firm policies and procedures, regulatory and legislative requirements
    --- AML Risk Management support of M&A and Corporate Lending deals (includes AML risk Management review of clients and episodic deals escalated to ACRM for review)
    --- Support the oversight of the CIB related Risk Assessments (Enterprise-wide AML Risk Assessment and Horizontal AML Risk Assessments) and oversight and coordination of all regionally specific deliverables as part of the global program. Regional CIB Leads will have escalation reporting and Program coordination responsibilities to the Global CIB Team in NAM region.
    --- Provide support to Regional CIB partners on AML risk decision escalations of multi-regional CIB clients.
    --- Provide AML guidance to the Corporate and Investment Bank (CIB) group globally to assist in identification and mitigation of AML risk and drive increased understanding of and accountability for AML risks. This includes:
    o Maintain sufficient understanding of the products and services to recognize AML risks and vulnerabilities and opportunities to leverage aspects of overall compliance programs for efficient and effective risk coverage.
    o Review and assess new products and services in the CIB Group for inherent AML risk and determine that an appropriate control is established and operational prior to implementation.
    o Develop, implement, enhance and draft relevant AML standards, policies and procedures for the CIB Group designed to manage inherent risk of the business or activity within the firm---s risk tolerance.
    o Management of Client Temporary Waivers
    o Management of KYC and Deal Metrics Review and Oversight
    o Management of applicable MCA and Compliance Monitoring Programs
    o Management of Pre/Post onboarding and other transactional controls design
    --- Work proactively with the business to achieve solutions while demonstrating ---credible challenge--- when and where necessary.
    o Challenge management, escalate issues and press for change while highlighting and emphasizing the role as the second line of defense.
    o Review, address and escalate significant AML/Sanctions issues and activities to senior management.

    --- Minimum 6 years of experience in AML compliance, legal or other control-related function in the financial services industry; experience with a regulatory body a plus
    --- Bachelor---s degree required
    --- Excellent written, verbal and analytical skills; strong communication and presentation skills with the ability to articulate complex problems and solutions through crisp and clear messaging
    --- Significant knowledge and expertise of AML regulations, risks and typologies
    --- Demonstrated ability to assess complex issues through root cause analysis and other analytic techniques, structure potential solutions, and drive to resolution with senior stakeholders
    --- Experience with and previous exposure to internal control functions and regulators within the US; particularly banking and AML regulators
    --- Demonstrated ability and confidence to challenge business management, escalate issues and press for change. Comfort with creative tension across different lines of defense while maintaining professionalism and a shared goal of quality growth
    --- Experience in the design and implementation of AML programs
    --- Ability to influence and lead people across cultures at a senior level using sound judgment and successful execution, understanding how to operate effectively across diverse businesses
    --- Strong track record of effectively assessing and managing competing priorities
    --- Experience managing diverse teams and comfort navigating complex, highly-matrixed organizations

    Keywords: Citi, Jersey City, VP AML Core Officer - Compliance Risk Management - Global Corporate and Investment Bank (CIB), Executive, Jersey City, New Jersey

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