Financial Crime System Transformation Specialist

Company

Federal Reserve Bank of New York

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.  

The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance. 

What we do: 

The Compliance Function is a second-line independent advisory and control function within the Federal Reserve Bank of New York. The mission of the Compliance Function is to protect the Bank and serve the public interest by ensuring the Bank adopts sound risk-based compliance controls and by promoting a strong ethical mindset.   

Working with the Bank’s Technology Group partners and stakeholders across the Bank’s business areas, the Associate for Financial Crime Systems Transformation will oversee the development and effective implementation of a new technology solution that advances the Bank’s Anti-Money Laundering Strategy.  Once implemented, the focus of the position will transition to the development and oversight of a dynamic set of AML transaction monitoring scenarios appropriate to the Bank’s risk appetite and customer base. 

Your role as Financial Crime System Transformation Specialist: 

• Partner with the Director of Financial Crime Monitoring and Systems Transformation to develop and execute the financial crime technology implementation project roadmap in partnership with the Group product owner and Technology Group teams. 

• Identify and implement AML transaction monitoring scenarios appropriate to the Bank’s products and services and consistent with its risk appetite and customer base. 

• Under the oversight of the Director of Financial Crime Monitoring and Systems Transformation, test and tune AML transaction monitoring scenarios prior to implementing them in a production environment. 

• Evaluate internal control structures related to automated AML solutions to identify potential weaknesses and associated risks. 

• Develop and implement reporting metrics related to AML transaction monitoring. 

• Partner with appropriate First Line colleagues to oversee the implementation of Know-Your-Customer and case management functionality. 

• Establish and maintain working relationships with third-party vendors relevant to the financial crime systems initiative. 

• Develop collaborative working relationships with other Bank stakeholders including the Risk and Audit Groups, relevant to the implementation of this technology. 

• Develop role related presentations and perform special projects as assigned. 

What we are looking for: 

• Relevant work experience and subject matter expertise in regulatory, financial crime, AML and sanctions compliance. 

• Established track record working with financial crime compliance technologies, in particular AML transaction monitoring. 

• Implementation experience in AML technologies, in particular transaction monitoring rule tuning and optimization. 

• Expertise in common fraud or money laundering typologies. 

• Ability to work in a complex and dynamic organizational, technological, and operating environment. 

• Strong collaboration skills, with a focus on positive intent, and ability to develop strong relationships and partner effectively with others in pursuit of common goals. 

• Ability to independently identify and analyze issues, draw conclusions, and produce reports and recommendations that translate an idea into appropriate action. 

Salary Range: $155000 - $185000 / year  

We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.  

  

Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and