Assistant Vice President - Financial Crime Compliance Risk

About CLS:

CLS is the trusted party at the centre of the global FX ecosystem.  Utilized by thousands of counterparties, CLS makes FX safer, smoother and more cost effective.  Trillions of dollars’ worth of currency flows through our systems each day. 

Created by the market for the market, our unrivalled global settlement infrastructure reduces systemic risk and provides standardization for participants in many of the world’s most actively traded currencies.  We deliver huge efficiencies and savings for our clients: in fact, our approach to multilateral netting shrinks funding requirements by over 96% on average, so clients can put their capital and resources to better use.

CLS products are designed to enable clients to manage risk most effectively across the full FX lifecycle – whether through more efficient processing tools or market intelligence derived from the largest single source of FX executed data available to the market.

Our ambition to make a positive difference starts with our people.  Our values underpin everything that we do at CLS and define our working environment:

• Pivotal purpose
• Trusted guardian
• Targeted innovation
• Facilitate connections
• Delivering excellence
• Inclusive culture

Job information:

• Functional title - Assistant Vice President, Financial Crime Compliance Risk
• Department - Financial Crime Compliance Risk
• Corporate level - Assistant Vice President
• Report to - Ian Daher
• Location - New Jersey
• Expected full-time salary range between $ 115K - $135K + variable compensation + 401(k) match + benefits.
  • Note: Disclosure as required by NY Pay Transparency Law of the expected salary compensation range for this role.

What you will be doing:

• Investigate and record transaction monitoring alert dispositions results and evidence.
• Data mine the alert repository for themes, previously dispositioned alerts, and patterns worth investigating further or future alerts worth excluding.
• Execute certain quality assurance tasks representative for the FCC Risk team as part of oversight and to maintain constant state of audit readiness.
• Perform AML and Sanctions related BAU monitoring and investigations processes managed by the 2nd line FCC, including check and challenge of 1st line activities.
• Support the enhancement of the AML framework with a focus on data analytics, data mining and IT support (Excel, Microstrategy, IT projects).
• Perform controls testing for FCC Risk owned controls, and provide input to enhancing controls framework for executing and tracking key tasks.
• Execute process enhancements with a commitment to consistency and successful implementation within the set targets and deadlines.
• Identify and implement efficiencies in reporting (e.g. individual customer profile, year on-year growth of customers by region, for each currency, and grouped by counterparty type, etc.) in support of annual risk assessment and model monitoring and tuning.
• Ensure CLS is meeting AML & Sanctions-related requirements with respect to new products, strategic initiatives, and technology upgrades.

What we’re looking for:

• Demonstrated BSA/AML/KYC subject matter expertise.
• Prior experience leading or supporting customer onboarding / KYC/ periodic reviews for institutional customers.
• Prior experience supporting internal audit engagements and remediation efforts.
• Knowledge of a financial market utility (FMU) or FMU regulatory environment, key legislative requirements and practical implications would be beneficial.
• Prior experience interfacing with banking regulators would be beneficial.
• Experience/expertise with the design, testing and implementation of compliance-related applications.
• Understanding of payments and foreign exchange markets preferred.

 

• Ability to manage urgent requests in a timely manner.
• Excellent verbal and written communication skills.
• Self-starter with the ability to work independently and proactively solve problems.
• High level of attention to detail.
• Willing and enthusiastic about learning and committed with a desire to succeed.

Professional qualifications / certifications

• Bachelor’s/University degree.
• 3-5 years professional experience in BSA/AML Compliance in Banking/Financial Services.
• Advanced proficiency in Microsoft Office applications (Word, Excel and PowerPoint).
• Proficiency with Transaction Monitoring and Sanctions Screening tools.
• Certified Anti-Money Laundering Specialist (CAMS) or equivalent certification, or willing to pass the exam within six months of hire.