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The Compliance Anti-Money Laundering (AML) Risk Management Director is a senior management level position responsible for establishing internal procedures to prevent money laundering and assist in all matters concerning financial crimes in coordination with the broader AML team. The overall objective is to utilize in-depth specialty knowledge to identify issues/problems and devise recommendations for complex situations.
Markets and Banking refers to the Citi Institutional Client Group (ICG) businesses that focus on the financing, trading and asset management needs of clients: Markets & Securities Services (MSS) and Banking, Capital Markets & Advisory (BCMA).
MSS includes sales, trading, and distribution across a broad range of asset classes (Equities, Futures, Commodities, FX, G-10 Rates), as well as Prime Finance and the Global Spread Products Division (GSP). GSP is comprised of the Credit Markets, Securitization and Municipal Securities businesses. MSS’ Securities Services businesses include Global Custody and Fund Services, Direct Custody and Clearing, Securities Lending and related asset servicing activities supporting institutional investors.
BCMA supports clients on their strategic financing and capital markets needs: Corporate Lending, Equity and Debt Capital Markets, Structured Finance, and Strategic Advisory. BCMA also includes Issuer Services, which offers a full range of agency, fiduciary, tender and exchange, depository, and escrow services in both developed and emerging markets to financial institutions, corporate clients, and public sector entities through its Agency & Trust and Depository Receipts businesses.
Markets & Banking also includes a U.S. retail brokerage business serving Citi’s Citi Personal Wealth Management, International Personal Banking and Citi Private Banking businesses.
The ACRM Director of AML Risk Coverage and Oversight (ARCO) is a newly created position in Citi’s Markets and Banking ACRM team who will report to the Global ACRM Head of Markets and Banking. The ARCO director will be responsible for the design, implementation and maintenance of a documented framework that identifies the AML risk typologies applicable to the business, the manner in which Citi’s policies and controls manage these risks in both the first and second lines of defense, and the mechanisms for AML oversight of the control framework’s implementation and effectiveness. The Director’s initial and main focus will be implementation of this framework in the Markets business.
The ARCO Director will need to work with the regional AML teams (across AML functions, including but not limited to AML Monitoring Risk Management, FIU), first line and relevant second line functions (e.g., Surveillance) to:
Maintain awareness of new AML typologies and related regulatory guidance,
Assess the applicability of the risks and typologies to the lines of business and the sufficiency of existing policies and controls to mitigate the risk,
Collaborate with, and provide credible challenge to the business, Operations, and other strategic partners for the maintenance, and where necessary design and implementation of additional product controls for MSS businesses.
Establish new and/or leverage existing mechanisms that allow AML to maintain effective oversight of first and second line controls which manage Citi’s risk.
Participate in and manage various internal assurance processes including regional enterprise wide and horizontal risk assessments, self-assessment, internal audit, and compliance testing review
Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Company, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
Have at least 15 years of experience in financial services, with experience in Markets and Investment Banking activities
Possess a strong understanding of AML requirements applicable to banks and broker dealer
Possess strong organizational skills and be able to drive program change; demonstrated leadership and motivational skills are key
Work collaboratively with regional and global partners in other advisory and functional units and be able to navigate a complex organization
Have strong interpersonal and both oral/written communications skills, and be able interact effectively with senior management
Ability to work with regional and global partners, and influence and lead people across culture and senior level
Bachelor’s degree/University degree or equivalent experience
Master’s degree preferred
Grade :All Job Level - All Job FunctionsAll Job Level - All Job Functions - US
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