AML / Sanctions - Broker Dealer Head, Managing Director

Who we are looking for
State Street is looking to hire an AML/Sanctions - Broker Dealer Head Managing Director to support Project Platinum oversight and integration.  This is a completely new area for State Street and will require a dedicated team of AML experts to oversee, align and integrate with the Broker Dealer who will be acting as introducing broker for a significant number of RIAs.

Position Overview

The successful candidate will lead a team providing Independent BSA/AML Risk Management oversight and governance of our broker dealer business segments, which are inclusive of broker-dealers, private equity and registered investment advisors. Responsibilities include new product and service evaluations, development and maintenance of risk assessments, and challenge reviews of first line control assessments. Other responsibilities include the evaluation of customer and transaction risk and providing subject matter expertise related to corresponding Bank Secrecy and Anti-Money Laundering Regulations. Prior core business line broker- dealer, broker-dealer related operations, or operations risk management experience supporting the broker-dealer industry is required; Securities licensing is a plus. In addition, the incumbent should demonstrate a sound understanding of the BSA/AML regulations either through practical experience in core BSA/AML operational functions or a governance role. Certifications such as the Certified Anti-Money Specialist (CAMS) and or other recognized programs are a plus.

This position is primarily based in a location Boston. Responsibilities require full-time in the office. Some responsibilities can be performed remotely at manager's discretion.

Job Description

• Oversees, establishes and enhances effective enterprise wide and business unit AML and Sanctions programs and designs policies to prevent or identify illegal, unethical, or improper business practices. Responsible for junior staff and talent management. May lead or oversee direct or indirect execution of activities to comply with the Bank Secrecy Act, AML, USA PATRIOT ACT and Sanctions Program. Constructively challenges conclusions/status quo. Exhibits confidence and credibility with service partners, business leaders, customers, regulators, and auditors.

• Ensures that AML and Sanctions Compliance Manuals, Front Office Manuals, policies and procedures accurately reflect current laws, rules, other regulatory requirements and management intent and align with SSBT program. Oversees the management of regulatory examinations and inquiries, including the coordination of interviews and information requests from regulatory agencies or law enforcement. Independently challenges analyses, reviews and recommendations.

• Establishes and oversees the AML and Sanctions objectives for assigned line(s) of business, products/services and applicable regulations. Responsible for socializing those objectives (from a leadership position) to the business. Ensures the timely completion of AML and Sanctions compliance reports and customer risk profiles. May serve as a subject matter resource regarding AML and Sanctions compliance and associated impact on overall business activities, product development and customer activities.

• Oversees one or more specific AML and Sanctions program component. Responsible for the completion and a final review of AML and Sanctions compliance reports. Manages issues, escalates through proper governance channels as needed, and recommends corrective action plans. Reviews and reports on assessments of AML and Sanctions compliance risk and internal controls, as appropriate. Monitors regulatory developments and advises business management and senior staff of proposed rule changes and provide recommendations.

• Directs and enhances AML and Sanctions related controls associated with key business initiatives. May include developing and/or conducting AML and Sanctions training programs for specific business areas and employees. Serves as an AML and Sanctions Program subject matter resource regarding compliance impact on overall business activities, product development and customer activities. Works cooperatively with the business, legal partners, audit and other risk disciplines across the organization.

These skills will help you succeed in the role

• Proven ability to lead and inspire high-performing teams in complex regulatory environments 

• Exceptional communication and influencing skills across senior stakeholders, regulators, and cross-functional teams

• Strategic thinker with a strong ability to challenge the status quo and drive innovation

• Resilient and adaptable under pressure, with excellent prioritization and decision-making capabilities

Education & Qualifications