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Assistant Vice President Team Leader Anti Money Laundering Investigations
HSBC
Arlington Heights, IL, United States
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Description
This role is responsible for collecting, evaluating,and disseminating information and evidence related to known or suspected money laundering and terrorist financing activities based on the AML Compliance Office policies and procedures.
The role will establish and maintain effective liaison and communication with law enforcement, International and Domestic business partners and judicial entities to enhance resolution efforts;evaluate transactions and customer relationships based on established protocol identifying issues and escalating for further investigation.
The role requires the analysis and anticipation of emerging regulatory and political concerns globally to alert senior Bank management of all relative issues.
The role will have responsibility for communicating discoveries and issues with internal AML constituents and external customers to support successful discovery of money laundering activities. Responsibilities include interviewing customers, relationship managers and business partners in establishing factual resolution of investigative cases.
Impact on the Business
• Activities that require a significant amount ofdaily time: research and wrting;
• Task critical to success: good research skills,excellent verbal communication skills; superb writing skills.
• 50% research;50% writing
• Develop and demonstrate proficiency in conducting financial investigations by collecting,evaluating,analyzing information and evidence related to known or suspected money laundering or terrorist financing.
• Will interview customers,relationship managers and business partners in establishing factual resolution of investigative cases related to known or suspected money laundering or terrorist financing.
• Establish and maintain effective liaison and communication with law enforcement, International and Domestic business partners and judicial entities to enhance resolution efforts and maintain AML Compliance Office policies and procedures.
• To discharge the (Compliance Officer)accountabilities set out in the Compliance Officer Handbook by pro-actively assisting management in identifying and containing compliance risk,monitoring,reporting and certification,fostering a compliance culture and optimizing relations with regulators.
Customers /Stakeholders
• The role will maintain relationships with internal stakeholders in the AML Compliance Office and other areas to help ensure research technique and capabilities perform at high levels.
• The role will maintain external awareness ofresearch trends,information,and techniques related to money laundering,including knowledge ofbanking laws and regulations concerning money laundering,BSA and the Patriot Act,and will help ensure they are communicated to appropriate levels ofthe AML Compliance organization.
Leadership & Teamwork
• Provide expertise and support to the AML Compliance organization on research techniques,capabilities and systems and act as a coach to more junior team members reinforcing and advancing their skills and techniques.
• Effectively communicates within AML Compliance re-enforcing knowledge on key information,policies and procedures is understood with all constituents both internal and external.
• Maintain awareness ofAML/BSA trends and other related industry practices helping ensure external knowledge and focus is not lost.
Operational Effectiveness & Control
• Monitor activities within the AML Compliance Office to ensure compliance with applicable internal policies and procedures and external regulations.
• Escalates complex or significant issues to more senior compliance employees.
• Participate in special AML Compliance reviews,projects and training efforts,as required.
• Complete other related duties as assigned and support the Company’s Diversity programs.
• To discharge the accountabilities set out in the Legal and Compliance FIM by proactively assisting management in identifying and containing compliance risk, monitoring,reporting and certification,fostering a compliance culture and optimizing relations with regulators.
• Complete other responsibilities,as assigned.
• Lead and develop an effective team through communication,performance management,development plans and reward/recognition practices.Cultivate an environment that supports diversity and reflects the HSBC brand.
• To implement the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance,Global Business Compliance Officer,Area Compliance Officer or Local Compliance Officer,ensuring adequate compliance resources and training,fostering a compliance culture and optimizing relations with regulators.
• Complete other responsibilities,as assigned.
Major Challenges
• Financial services compliance entails a high degree ofregulatory compliance and reputational risk,particularly with respect to risks arising out ofnon-compliance with extensive and complex regulations.Failure to comply with these regulations would have significant negative effects on relations with regulators,the reputation of the Company with the public and may result in regulatory impediments to mergers and acquisitions and significant regulatory sanctions,including regulatory fines of material amounts.
Role Context
• This role reports directly to the AML Investigations Team Leader or the AML Investigations Director.The position directly supports activities in the AML Compliance Office.While the role is specific to AML/BSA,some required principal accountabilities remain relevant across compliance segments.
• Specifically this role involves overseeing and supplementing special investigations concerning legal/regulatory inquiries,filings and actions,adverse media reports and other high profile matters potentially posing financial crime,regulatory or reputational risk,taking into account various AML risk factors and indicators to determine if
• Suspicious Activity Report (SAR)requires completion.Ifa SAR is not required the Senior Investigations Officer must rationalize why the activity does is not an AML risk. The Senior Investigations Officer will be responsible for filing SAR’s.May completes enhanced due diligence reviews on high-risk customers and Special Category of Clients (SCC)accounts.
• Coordinates internal processes for the revision,review,approval,and publication of policies applicable to the business unit as well as internal departmental procedures to support functions that are the responsibility ofCompliance.Establishes process for the distribution of Compliance related communications from the department.Partners with management to create and deliver internal training and manage special projects within the department.
Management of Risk
• Ensure compliance,operational risk controls in accordance with HSBC or regulatory standards and policies;and optimize relations with regulators by addressing any issues.
Observation of Internal Controls
• Maintains HSBC internal control standards,including timely implementation of internal and external audit points together with any issues raised by external regulators.
Qualifications
• Minimum of two or equivalent experience performing investigations, international or domestic Correspondent Banking, International Cash Letter and Letters of Credit, preferably related to financial crime investigations..
• Bachelor’s degree in business,finance,accounting,related field or equivalent experience.
• Legal and/or law enforcement experience strongly preferred.
• Strong interpersonal,organizational,communications,analytical and project management skills.
• Thorough knowledge of products,services,operations and systems and extensive dealing with laws, regulations and regulatory agencies related to assigned areas.
• Proficiency with personal computers and pertinent mainframe systems and software packages.
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