BSA/AML Compliance Risk Supervising Examiner

CompanyFederal Reserve Bank of New York

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.
The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.

What We Do:

The Supervision Group of the Federal Reserve Bank of New York (FRBNY) supervises banks in the Second District. The objectives of supervision are to:

• Evaluate and promote the overall safety and soundness of supervised institutions;

• Ensure supervised institutions’ compliance with relevant laws and regulations, including consumer protection;

• Facilitate the stability of the financial system of the United States; and

• Support the growth and stability of the U.S. economy.

Supervision is carried out through a combination of methods, including on-site and off-site examinations involving staff dedicated to the supervision of an individual firm and other professionals focused on analytical, policy and risk matters. Supervision is coordinated with other US agencies.

The Large Institution Supervision Coordinating Committee (LISCC) Program function is responsible for executing the LISCC supervisory program (covering Capital, Governance and Controls, Liquidity, Recovery and Resolution Planning, and Monitoring and Analysis) for domestic global systemically important banks (G-SIBs). This supervision is accomplished through close coordination and in partnership with LISCC Dedicated Supervisory Teams (LISCC - DST) assigned to supervise individual firms, other Group business leaders, as well as LISCC leadership at the Board of Governors and other Federal Reserve Banks.

Within the LISCC Governance and Controls Program, the Compliance Risk horizontal team supervises the legal and compliance infrastructures of the largest financial institutions under the Federal Reserve System’s (FRS) supervision. The Compliance Risk horizontal team evaluates the compliance risks presented by the relevant supervised firm's business models and the adequacy of the compliance control framework for addressing such risks. In addition to participating in and leading compliance examinations of supervised financial institutions, the team contributes to other examination, analytical, and policy work in collaboration with senior supervisors and FRS management, legal staff, and policymakers across agencies.

Your role as BSA/AML Compliance Risk Supervising Examiner:

• Lead large scope supervisory activities including monitoring, exams, and special projects;

• Serve as an Examiner-in-Charge for large-scale reviews of complex institutions to evaluate the quality and effectiveness of BSA/AML compliance risk management practices and controls, including for financial crimes and sanctions-related laws and regulations, in relation to the inherent risks of the institutions, supervisory expectations, and industry sound practices;

• Lead or participate in the development and execution of supervisory strategies for the oversight of significant and emerging BSA/AML and sanctions compliance risks;

• Contribute to preparation of supervisory plans for relevant risk-based supervision;

• Lead ongoing monitoring reviews and assessments of the remediation of supervisory issues and compliance failures underlying enforcement actions;

• Synthesize and present complex ideas clearly and concisely to management, including in supporting conclusions and communicating results with partners through supervisory products and key meetings;

• Communicate with supervised large financial institutions, regulatory agencies and FRS executive management;

• Maintain a comprehensive understanding of laws and regulations relevant to corporate compliance expectations and BSA/AML and sanctions compliance of the largest financial institutions; and,

• Coach and review the work of other professionals.

What we are looking for:

• Proven track record working in any of the following roles: financial institution legal and/or compliance departments; compliance consultant in the financial services industry; auditor; or bank examiner.

• Demonstrated knowledge of BSA/AML and sanctions compliance risk management programs and controls in relation to the inherent risks of large banking organizations with complex compliance profiles.

• Demonstrated understanding of relevant laws and regulations.

• Strong technical BSA/AML and/or sanctions subject matter expertise, including in relation to specific lines of business, products and services, and ability to apply expertise to supervisory strategies and reviews.

• Experience in assessing, validating, designing, or managing various BSA/AML and sanctions risk management controls, including transaction monitoring/surveillance systems and screening/interdiction systems, is a plus.

• Strong collaboration skills with an ability to build deep, productive working relationships in line with an inclusive culture that values learning and agility, curiosity, and sharing of diverse perspectives among the supervisory stakeholders.

• Strong communication skills (both written and verbal), including ability to synthesize and communicate a wide range of information and perspectives succinctly and persuasively to stakeholders.

• Ability to undertake supervisory activities under limited guidance, prioritize and multi-task, manage and interpret data and quickly assimilate new information, and produce sound analysis.

• Some travel may be required for examinations, meetings, and training.

• Candidate must be willing to enroll in examiner commissioning training upon acceptance of the position.

Full Time / Part TimeFull time

Regular / TemporaryRegular

Job Exempt (Yes / No)Yes

Job CategoryLegal Family

Work ShiftFirst (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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