Director - 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 – Protect, Improve, Grow – underpin everything that we do at CLS and define and shape a supportive and inclusive working environment in which everyone is encouraged to be open and forward-thinking.

Job information:

• Functional title – Director, Financial Crime Compliance Risk
• Department - Risk & Compliance
• Corporate level - Director
• Report to - ED – Financial Crime Compliance
• Location – New York, NY

Job Purpose:

This position is primarily focused on Financial Crime Compliance (inclusive of Anti-Bribery & Anti-Corruption Compliance or “ABAC”) 2nd Line responsibilities within the Risk Division with an emphasis on AML & Sanctions Program Ownership, management and enhancement. The role has responsibility for various activities as a Deputy to the Head of BSA / AML (“BSA Officer”) on a BAU basis and to assist in remediation activities.

Main duties and responsibilities:

Collaborate with the BSA Officer and manage execution of the BSA / AML Program across the Firm.

Strategic

• Assume a process leadership role within Financial Crime Compliance (“FCC”) specific to leading CLS’ BSA/AML Sanctions Program management.  Responsibilities include creating, modifying and implementing frameworks, policies, and controls, including (but not limited to):
• Oversight of 1LoD activities in Operations, Client Engagement, and other areas;
• Management of the FCC Quality Assurance (“QA”) program related to the above;
• Drive the enhancement controls framework for FCC controls, regardless of where they sit within the firm; and
• Interface with Enterprise Data Management on compliance with enhanced regulatory compliance with ML TF & Sanctions model documentation.
• Lead and collaborate with the broader 2LoD FCC team in their coverage areas regarding BAU activities including model results, and process improvement or tuning opportunities.
• Drive execution of the FCC (including ABAC) Compliance Risk Assessment exercise (inclusive of data collection, assessment, socialization, governance).
• Represent FCC across the various stakeholder areas within CLS including working groups and strategic projects within the firm, as well as with Internal Audit and Regulators.
• Identify and execute BSA / AML program and process enhancements (i.e., leveraging data analytics, IT tools, etc.) with a commitment to consistency and successful implementation within the set targets and deadlines.

Operational

• Assist with the oversight of AML & Sanctions compliance program BAU activities including 314(a) searches, alert management and QA, sanctions filter updates, & investigations (which may include execution activities from time to time).
• Develop metrics and analyze BAU data for monitoring and reporting to ORM, Board and other internal stakeholders.
• 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.
• Support Internal Audit reviews aimed at testing adequacy of BSA / AML program objectives and accompanying controls, policies and procedures.

Person specification

Qualifications (Gained at School or High School / College or University), professional or specialist qualification)

Essential

Desirable

University/ B.A. or B.S. degree

X

 

Advan