Associate Director, Deputy to the BSA AML Officer, RBC Capital Markets, LLC & RBC CMA, Ltd - U.S. Financial Crimes

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Associate Director, Deputy to the BSA AML Officer, RBC Capital Markets, LLC & RBC CMA, Ltd - U.S. Financial Crimes

senior · Risk & Compliance

Job Description

What is the opportunity?

Support the BSA AML Officer of RBC Capital Markets, LLC (“RBCCM LLC”) and RBC CMA, Ltd (“CMA”) in the oversight and execution of Financial Crimes requirements of the for the broker dealer.

Provide ongoing financial crimes subject matter and policy expertise to support the BSA AML Officer, and with 1LOD, 2LOD, and 3LOD.

Assist the BSA Officer with oversight, monitoring, and effective challenge of the control environment.

What will you do?

• Lead in drafting the quarterly US CM Quarterly AML Report and presenting it to the US Head of Financial Crimes and US senior financial crimes management (i.e. metrics, analysis on trends, issue management etc.) and other reporting as applicable (i.e. regulatory) with oversight from the BSA Officer

• Actively support the BSA AML Officer with Audit & Regulator engagement and assist with the timely resolution of requests for information, reporting and remediation of findings

• Ensure that US AML regulatory obligations (BSA/USA PATRIOT Act/AML Act and updates to the CDD Rule) are met

• Interface with primary and key regulators (e.g., FRB, FINRA)

• Facilitate the development of controls for mitigating financial crimes risks and identify gaps/remedial steps (issue management) meeting regulatory requirements and other expectations

• Support the BSA Officer in managing the New Business Committee (NBC) Financial Crimes requirements and process as it relates to new or expanding products and services to evaluate financial crimes risks and controls as well as coordinating with global CM Financial Crime stakeholders on shared products

• Provide material input into the output of RCM relating to new regulations, guidance and enforcement actions impacting the broker dealer (CUBE) to ensure regulatory compliance, alignment with best practices and address emerging risks

• Assist the BSA Officer with oversight, monitoring, and effective challenge of the control environment

• Deliver tailored AML training to the business and infrastructure groups as needed, update training materials, and oversee the completion status of Financial Crimes required training

• Support the BSA Officer to provide material input into the Risk Assessment and RCSA for the broker dealer

• Advise on product risk and assess impact to the Client Risk Rating model and Risk Assessment

• Advisor and ongoing contributor relating to appropriate transaction monitoring typologies, data feeds, interfaces for the monitoring of activity booked to the broker dealer including the rollout of transaction monitoring and any future products approved through the new business committee

• Provide oversight of the Capital Markets FIU’s transaction monitoring and investigation team's review and resolution of alerts and investigations

• Strong Collaboration with the Trade Surveillance team to ensure ongoing communication as it pertains to financial crimes and escalation of unusual activity

• Provide ongoing supervision, guidance, and approval of Suspicious Activity Report filings for the broker dealer with FinCEN and ensuring proper risk mitigation

• Assist the BSA Officer with law enforcement matters involving Financial Crimes

• Assist in the enhancement of anticipated activity requirements and ongoing refresh of anticipated activity to comply with the CDD rule

• Coordinate with Fraud Management & relevant stakeholders to ensure there is a process of escalation, investigation & reporting

• Deliver tailored AML training to the business and infrastructure groups as needed, update training materials, and oversee the completion status of Financial Crimes required training

• Provide regular updates to the Head of US CM Financial Crimes, the BSA AML Officer and Chief Operating Officer (where applicable), escalating significant issues when needed

• Liaise with the U.S. Director of Financial Crimes Oversight Testing relating to the testing program

• Active member of the CUSO Financial Crime Management Committee

• Assist with the development and updates to Financial Crimes related policies and procedures on at least an annual basis

• Act as subject matter expert with respect to Financial Crimes requirements including handling AML inquiries from the front and back office and infrastructure groups

• Assist with US Financial Crimes strategy related projects including project/task management and required documentation where applicable

• Maintain industry expertise through regular participation in Financial Crimes related forums and training

• Effectively exploit synergies across borders, areas of expertise, businesses, and functions

• Assist with instilling a "culture of compliance” and in ensuring that employees understand RBC vision, as well as support and reinforce targeted behaviors that contribute to achieving RBC goals

• Leverage the value in unit, department, and enterprise-wide teams to develop better solutions and achieve a cross-enterprise mindset

What do you need to succeed?

Must-have

• University degree or equivalent experience

• Extensive knowledge of risk management and anti-money laundering related requirements including BSA, USA PATRIOT Act, OFAC, FCPA and other applicable U.S. regulations

• Strong knowledge of the broker dealer (e.g. securities; investment banking; etc.) and understanding of their associated overall financial crimes risks, e.g. market manipulation & insider trading

• In-depth knowledge of Capital Markets products, their trade cycles, settlement flows, and their use in Financial Crimes

• Strong ability to apply regulatory requirements to development of risk-based, reasonable AML, Economic

• Sanctions and ABAC to relevant business models, as well as diversified products

• Ability to produce quality work under strict deadlines, and to effectively prioritize and complete multiple projects

Nice-to-have

• Understanding of relevant emerging risks preferred (e.g. cryptocurrency)

• Exceptional written, verbal communication, and analytical skills

• Strong organizational/time-management skills

• Strong inter-personal/relationship management skills

• Attention to detail, and a methodological approach to analysis

• Leader, highly adaptable, organized, reliable, team player, self-starter. Ability to impact and influence

• Intuitive and inquisitive thinker – demonstrated critical thinking skills

• Innovative and Digital Thinker

• Ability to understand and articulate financial crime risks as perceived in specific cases and more broadly

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program includes competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.

• Leaders who support your development through coaching and managing opportunities.

• Ability to make a difference and lasting impact.

• Work in a dynamic, collaborative, progressive, and high-performing team.

• Opportunities to do challenging work.

• Opportunities to build close relationships with clients.

The expected salary range for this particular position is $120,000-$200,000 (New Jersey), depending on your experience, skills, and registration status, market conditions and business needs.

You have the potential to earn more through RBC’s discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.

RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

• Drives RBC’s high-performance culture

• Enables collective achievement of our strategic goals

• Generates sustainable shareholder returns and above market shareholder value

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Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.