AML Funds Transfer Compliance Lead SVP

The AML Funds Transfer Compliance Lead is a senior level position responsible for establishing internal procedures to prevent money laundering and assist in all matters concerning financial crimes in coordination with the broader AML team. The overall objective is to utilize established disciplinary knowledge to identify inconsistencies in data or result and formulate strategic recommendations on policies, procedures, and practices.

About the Role: Funds Transfer Compliance Lead

The Anti-Money Laundering Compliance Risk Management (ACRM) function serves as the second line of defense in mitigating money laundering and terrorist financing risks for Citi and its customers across the globe. The ACRM team leverages deep AML expertise, robust risk management skills, and relevant business knowledge to proactively identify, assess, and manage AML risk across Citi's diverse client base, products, and geographies.

This Funds Transfer Compliance Lead role is a critical position within the ACRM framework, specifically focusing on ensuring robust compliance oversight related to Funds Transfer within Treasury and Trade Solutions (TTS). The successful candidate will be instrumental in upholding Citi's stringent AML regulatory requirements for funds transfer activities.

Responsibilities:

• Execute and implement firm-wide AML risk management policy and strategic direction
• Maintain AML compliance program for the business including assessment of risks and the development of policies, procedures, and governance
• Identify and assess risk, vulnerabilities, and opportunities for efficient and effective risk coverage
• Work within team and across business/functional line management to assess complex issues, structure potential solutions, and drive effective resolution within permissible statutory and regulatory frameworks
• Evaluate and respond to escalated matters, further escalate as required, and advise senior management on next steps as needed

Oversight of Funds Transfer Monitoring Reports:

• Provide direct oversight and critical review of Funds Transfer monitoring reports for countries where Citi process outgoing Funds Transfers and which are completed by the first line of defense, ensuring their accuracy, completeness, and adherence to established policies and regulatory requirements.

Challenge and Remediation of Issues:

• Actively challenge and validate that appropriate and timely remediation activities are being implemented and completed by the first line of defense in full alignment with Citi's Issue Management Standard, driving effective resolution of identified compliance deficiencies in relation to funds transfers.

Committee Representation and Strategic Influence:

• Represent Funds Transfer Compliance Oversight in the Correspondent Banking Oversight Committee (CBOC) and the Payment Intermediary Oversight Committee (PIOC).
• Ensure that payment transparency issues and enhancements are thoroughly discussed at these committees, and facilitate necessary escalations from these committees to the Global Funds Transfer Oversight Issue Management Committee, as appropriate.

AI-Driven Innovation and Efficiency:

• Proactively evaluate existing funds transfer workstreams to identify and assess opportunities for integrating Artificial Intelligence (AI) and machine learning solutions, driving innovation and enhancing operational efficiency within the team. This includes exploring how AI can streamline processes, improve accuracy, and enhance risk detection capabilities.
• Act as a mentor to junior staff, ensure successful training of payments to junior staff and continue to be driven to self-educate on payments innovation to appropriately oversee funds transfer regulatory adherence and knowledge share to junior staff.

Global Program Development & Oversight:

• Develop and refine the global program framework, including drafting and implementing policies, standards, and procedures for the execution of AML oversight and challenge for the TTS Product Development, Payment Operations, and Technology teams.
• Lead and coordinate AML efforts with cross-Line of Business (LOB) teams, including Product, Operations, and Technology, to establish global standards and document known variations within country regulatory environments related to FATF-16/ Funds Transfer Regulations. Prepare Business LOB teams with updated regulatory requirements, including Recommendation 16.
• Provide thought leadership, guidance, oversight, and challenge to global LOB teams working on ISO 20022 adoption, ensuring system enhancements and changes appropriately consider impacts to AML compliance requirements.
• Offer day-to-day support to global TTS Product Development, Payment Operations