Anti-Money Laundering Transaction Monitoring Team Lead|
Manages and leads a team of senior and junior investigators and support staff regarding complex and sensitive investigations involving money laundering and terrorist financing. The team 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. Recommends and/or, where delegated, makes decisions on filing suspicious activity reports regarding potential suspicious activity and terrorist financing activity.
Impact on the Business
- Effectively manages and coordinates the workflow of the investigative process of the team.
- Identifies problem areas in the workflow process and develops efficient remedies and manages the workload of each investigator.
- Assists the SVP in supporting the execution of strategies that ensure the requirements of HSBC North America AML Compliance are met, including acting as the senior site liaison to collaborate among the investigative areas, SAR office, and business areas to mitigate AML and other risks of financial crimes for the bank.
- Assists the SVP in assuming matrix responsibility for all AML Compliance functions for their site, which includes recruiting and selecting talent, monitoring of key quality and performance measures, coaching, and development of staff to drive performance and overall effectiveness.
- Assists the SVP by ensuring compliance monitoring and internal controls are in place, including processes for management of operational risk, in accordance with company and regulatory standards
Customers / Stakeholders
- Helps maintain relationships with internal stakeholders in the AML Compliance Office and other relevant areas to optimize information transfer through enhanced research techniques.
- Helps maintain external awareness of research trends, information, and techniques related to money laundering, including knowledge of banking laws and regulations concerning money laundering, BSA and the Patriot Act, and helps ensure they are communicated to appropriate levels of the AML Compliance organization.
Leadership & Teamwork
- Manages and directs the activities of both new and experienced investigators as needs are identified.
- Provides expertise and support to the AML Compliance organization on research techniques, capabilities, and systems.
- Acts as a coach to more junior team members reinforcing and advancing their skills and techniques.
- Provides direct oversight on investigative case quality. Works closely with Quality Assurance areas to ensure that the activities of each team conform to best practices.
- Effectively communicates within AML Compliance by reinforcing knowledge on key information, policies and procedures is understood with all constituents both internal and external.
- Maintains awareness of AML/BSA trends and other related industry practices and helps ensure external knowledge and focus is not lost.
- Helps ensure that all members of the team are properly and regularly trained and maintains performance reviews for investigators and support staff.
- Assists the SVP in leading and developing an effective team through communication, performance management, development plans and reward/recognition practices.
- Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices.
- Promote an environment that supports diversity and reflects the HSBC brand.
Operational Effectiveness & Control
- Monitors activities within the AML Compliance Office to ensure compliance with applicable internal policies and procedures and regulatory requirements.
- Reviews and evaluates essential case elements to ensure consistent and comprehensive investigations have been satisfactorily completed.
- Reviews cases for accuracy, timeliness, and content including performing quality assurance.
- Participates in special AML Compliance reviews, projects, and training efforts, as required.
- Discharges the accountabilities set out in the Legal and Compliance Functional Instruction Manual (FIM) by pro-actively assisting management in identifying and containing compliance risk, monitoring, reporting and certification, fostering a compliance culture and optimizing relations with regulators.
- 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.
- Financial services compliance entails a high degree of regulatory compliance and reputational risk, particularly with respect to risks arising out of non-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.
- Incumbent will be challenged to maintain a compliant/high morale Compliance department in light of the increasingly heavily regulated environment and corresponding demands on personnel.
- Reports directly to a US Head of Ops AML Monitoring. The position directly supports activities in the AML Operations Office.
- Responsible for managing all aspects of an Anti-Money-Laundering (AML) alerts investigations team including Quality Control, review and approval of alerts that are potentially suspicious.
- Involved in reviewing systematic AML alerts and determines if transactions occurring are valid Anti-Money Laundering risks. Performs encompassing research taking into account various AML risk factors and indicators to determine if a Suspicious Activity Report (SAR) requires completion. If a SAR is not required, the officer must rationalize why the transaction is not an AML risk. The Officer may be responsible for filing a SAR report, in less complicated transactions.
- 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 of Compliance. Establishes process for the distribution of Compliance-related communications from the department, and 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.
- Adheres to HNAH’s Statement of Business Principles and Code of Ethics.
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.
- As appropriate for the role, ensures alignment with regulatory requirements, the Compliance of FIM, HNAH’s BSA/AML Policy, other Group policies and all related policies and procedures.
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Qualifications & Requirements
- Minimum of four years or equivalent experience performing investigations, international or domestic, with experience in 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.
- 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, pertinent mainframe systems, and software packages.