AVP – BSA/AML/OFAC Risk Assessments

New York, NY

Job Function:

Demonstrate Bank's New York Branch’s commitment to compliance by assisting and administering a comprehensive BSA/AML and Sanctions Risk Assessment Program. The Program requires the identification, measurement, and assessment of corporate compliance risk associated with applicable laws and regulations by the development and deployment of a methodology that determines ratings for Inherent Risk, Controls, and Residual Risks.


Essential Functions:

1. Assist in execution for the Branch’s BSA/AML and Sanctions Risk Assessment efforts, focused on delivery of various components of the program including input into the program framework, documentation, stakeholder engagement, project planning and management reporting;
2. Liaise with stakeholders and provide guidance and clarification to stakeholders on Program’s objective, design and execution of related deliverables;
3. Assist in execution of analysis of BSA/AML and Sanctions data, metrics and qualitative factors to identify key drivers of AML risk and controls to inform thematic reporting and program updates;
4. Assist with enhancement and supporting analysis of BSA/AML and Sanctions risk assessment methodologies, including aggregation of risk rating at the business unit level, provide assistance to drive tactical and strategic changes to support and enhance the Branch’s BSA/AML and Sanctions Program;
5. Coordinate the identification, development and mapping of assigned operating unit’s controls and risk profiles;
6. Responsible for executing risk assessment review and drafting formal risk assessment reports, including but not limited to, documenting risk assessment process and final results, maintaining supporting documents for the operating units assigned in Risk Assessment Campaigns and Annual Corporate Risk Assessment Review;
7. Coordinate the development of corporate risk assessment database, including but not limited to Risk Assessment Questionnaire, inventory of risk profiles;
8. Assist in designing and enhancing BSA/AML and Sanctions Risk Assessment policies, procedures, methodologies, risk scoring and documentation standards;
9. Coordinate in research and identification of regulations and requirements applicable for the assessed operating units and/or areas, services/products in Corporate Banking and Financial Institutions settings;
10. Coordinate with BSA/AML and Sanctions Risk Assessment Training and ongoing liaison with business representatives;
11. In alignment with the methodology, ensure that corrective action plans are recorded in the appropriate repository; oversee regular updating by issue owners and address/escalate as needed;
12. Assist and coordination with regulatory, internal and/or external requests;
13. Assist with Corporate Compliance Risk Assessments, Corporate Compliance Monitoring and Testing review projects, and other compliance activities as needed.



In order to perform the job successfully, an individual should demonstrate the following competencies:


1. Minimum of 5 years of BSA/AML and Sanctions compliance experience;
2. Familiar with risk assessment concepts, methodologies, and documentation standards and workflows;
3. Familiar with BSA/AML and Sanctions regulatory requirements, risk and controls;
4. Previous experience with BSA/AML and Sanctions Assessments strongly desired;
5. Effective and strong communicator. Ability to write clearly and succinctly.
6. Ability to independently document risk assessment process and present formal draft report;
7. Ability to multi-task and manage multiple high priority deliverables effectively in a fast-paced environment.


Required Education and Experience:


  1. Bachelor's degree from an accredited four-year college or university in Business, Finance or Law  
  2. four to six years related experience and/or training; or equivalent combination of education and experience.

Additional Qualifications:


CAMS preferred


Contact Details:

Steven Cebel